1911-D $5 MS64 PCGS....

Description

Sharp, Splendid 1911-D Half Eagle, MS64

1911-D $5 MS64 PCGS. Although it is perhaps less often trumpeted than its smaller cousin--and certainly far less often encountered in Mint State--the 1911-D Indian Head half eagle is even more a key to its series in Mint State (along with the 1909-O) than the 1911-D quarter eagle is to that series. The two major grading services have certified more than 3,000 1911-D quarter eagles in Mint State (including duplications), yet the number of 1911-D half eagles certified as Mint State is less than one-tenth as much: 241 pieces as of 7/07, again counting resubmissions.
Despite the larger mintage of the half eagle--72,500 pieces compared to 55,680 coins of the quarter eagle--it appears to have been saved in much smaller quantities, and/or melted in much larger ones. According to the Garrett-Guth Gold Encyclopedia, about half of the 1911-D quarter eagles that appeared at auction from 1991-2005 were Mint State, but only one-sixth of the 1911-D half eagles were Uncirculated. This fact is unsurprising when one stops to consider how much buying power five dollars had in pre-World War I America; even if the low mintage was known, many people simply could not afford to tie up five dollars permanently.
Of course, in the higher Mint State levels, the comparisons are even more profound: While NGC and PCGS combined have certified more than 615 1911-D quarter eagles in MS64, with 85 pieces finer, for the 1911-D half eagle the combined MS64 population is 23 coins, with only five finer (7/07). Assuming a reasonable figure for resubmissions, it thus appears likely that there are not many more than 15 or so separate pieces at both services that merit a near-Gem ranking. At PCGS, this coin is one of 12 pieces so certified, and only two coins at that service surpass it, both MS65s.
The present MS64 example boasts pleasing khaki-gold surfaces with a splendid strike that is its foremost attribute, although the luster is excellent and there are relatively few abrasions for the grade. A couple of tiny ticks are noted on the Indian's cheek that are grade-consistent, and a couple of small marks appear in the left obverse field and on the reverse around IN GOD WE TRUST, but they are completely undistracting and fail to detract from the enormous appeal of this charming and elusive specimen. This coin truly represents a rare opportunity for the Indian Head half eagle collector.
From The Jim O'Neal Collection of Indian Half Eagles.(Registry values: N10218)

Coin Index Numbers: (NGC ID# 28DR, PCGS# 8521, GSID# 9324)

Metal: 90% Gold, 10% Copper
Weight: 8.36 grams
AGW: 0.24188oz
Mintage: 72,500

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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