1890 $5 MS68★ NGC....

Description

1890 Half Eagle, MS68★
Finest Graded, Dazzling Mint Luster
Impeccable Preservation

1890 $5 MS68★ NGC. The American coinage of 1890 was a study in enormous contrasts. Between four denominations -- the Indian cent and Liberty nickel (both series records at the time), the Liberty Seated dime, and the Morgan dollar -- the Philadelphia Mint managed to produce more than 100 million coins in this single year.

Meanwhile, other series suffered active neglect. The silver Seated quarter and half dollar issues both saw minuscule mintages, particularly for the latter at 12,000 pieces. The Liberty Head quarter eagle issue was struck only at the Philadelphia Mint -- as had been the case every year since 1879 -- and only to the extent of 8,720 circulation strikes. Even the Liberty double eagle, arguably the nation's most important coinage issue, saw only 75,940 business strikes.

But the low-mintage-sweepstakes winner of the year was the 1890 half eagle, struck in the paltry amount of 4,240 business strikes plus 88 proofs. The twin culprits were the Sherman Silver Purchase Act of 1890, which mandated that the Treasury buy 4.5 million ounces per month of domestic silver for coinage into Morgan dollars, as well as the ending of the gold dollar and three dollar denominations in 1889 (and made official in 1890), which likely served to increase the need for minor coinage.

Even though the nation was awash with the unwanted, unpopular Morgan dollar, the props applied to the domestic silver market meant that Philadelphia had no leftover capacity to strike gold coinage in abundance. The mintage of the 1890 Philadelphia Morgan dollar by itself exceeded 16.8 million coins, and combined with three other mints, the total silver dollar coinage for the year surpassed 38 million pieces.

From the total of a bit more than 4,000 coins, this MS68★ NGC 1890 half eagle is by far the finest survivor of a tiny issue (11/24). (The next-closest are a pair of MS66 coins, one coin each at NGC and PCGS.) Dazzling mint luster is this coin's strong suit. Bright, light reddish-gold color prevails throughout, with the fabric of the fields similar to that seen on three dollar gold pieces, bright semiprooflikeness combined with a slight cartwheel effect. The strike is just a hair short of full, and strong magnification is required to discern even the smallest abrasions.
Ex: ANA Signature (Heritage, 10/2012), lot 5947 / The Soluna Collection / FUN Signature (Heritage, 1/2017), lot 5918.(Registry values: P3)
From The KRGJ Collection.

Coin Index Numbers: (NGC ID# 25Y2, PCGS# 8375, Greysheet# 8936)

Weight: 8.36 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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