1863 $5 PR65+ Deep Cameo PCGS. CAC. JD-1, High R.6....

Description

1863 Half Eagle, PR65+ Deep Cameo
30 Proofs Minted, Fewer Than Half Survive
Finest at Both Services Combined

1863 $5 PR65+ Deep Cameo PCGS. CAC. JD-1, High R.6. Ex: Simpson. Half eagle production plummeted after the Mint halted specie payments in the spring of 1862. While nearly 700,000 five dollar gold pieces were struck in 1861, only 4,430 were struck in 1862. That total fell even further in 1863, when output amounted to a paltry 2,442 half eagles. Supplementing that meager production were 30 five dollar gold proofs made for and sold to collectors.

Writing in their Encyclopedia of U.S. Gold Coins, Jeff Garrett and Ron Guth describe the date as "very rare and underrated in any grade," with proofs being "extremely rare." According to John Dannreuther, the 30 proofs originally minted, which were all delivered on March 23, 1863, are today "represented by less than half that number of survivors." Only 12 to 14 proofs are believed extant, though some have argued even fewer than a dozen exist. At least two of them are permanently held in institutional collections: one at the Smithsonian's National Numismatic Collection and one at the American Numismatic Society.

The present PR65+ Deep Cameo example serves as the plate coin in John Dannreuther's proof gold reference. It is well-balanced with rich yellow-gold color and little evidence of contact. Only a few light, undistracting field hairlines may stand in the way of an even finer grade. Liberty's cheek is particularly clean, as are the thickly frosted devices throughout. For pedigree purposes we note a tiny planchet void, as made, in the field over Liberty's head between stars 7 and 8. The strike is fully brought up, as expected. This coin offers an important opportunity to obtain the finest certified example of this momentous rarity. PCGS reports two PR65 Deep Cameo submissions, this being the only one with a Plus designation. The PR66★ Deep Cameo coin reported at NGC is the one offered here and should be considered the single finest at both services combined (1/22).(Registry values: P4)

Coin Index Numbers: (NGC ID# 28BY, PCGS# 98453, Greysheet# 9175)

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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