LOT #5109 |
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1840-C $5 MS64 NGC. Variety 1....
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Sold on Jan 6, 2011 for:
$57,500.00
Bid Source: Mail/Fax bidder
Description
1840-C Half Eagle, MS64
Ex: Col. Green, Farouk, Pittman
Second Finest in the Condition Census
1840-C $5 MS64 NGC. Variety 1. Ex: Pittman. Die State II.
This is a coin of monumental importance to collectors of Charlotte
gold, the former Colonel Green-King Farouk-John Jay Pittman
specimen and the finest certified NGC example by three grade
points--an enormous superiority at the high Mint State levels. One
MS64+ piece at PCGS, apparently a recent discovery, is marginally
finer in technical (although perhaps not aesthetic) terms, with the
second finest at that service an MS63 (10/10).The two varieties of 1840-C half eagle differ little in rarity, but the issue overall is among the rarest half eagles made at the fabled Charlotte Mint. The 1840-C is a first-year subtype; the Obverse Mintmark style ended the previous year, a trait that increases the appeal of the issue to the many collectors.
The 1840-C half eagle had a respectable mintage for of 18,992 pieces, but pent-up demand ensured that most examples circulated within the local economy. The typical certified survivor is only about an XF40 coin. The Charlotte branch mint, like its counterpart in Dahlonega, had opened for coinage only two years previously, and the Southeast region was experiencing brisk commerce that the result of recent gold discoveries, which were the raison d'être for the new mints' construction in the first place.
Akers described this stellar branch mint coin in this manner in the Pittman catalog:
"Broad Mill, as are all 1840-C Half Eagles. (Rumors of a Narrow Mill version of this issue are unsubstantiated and, in my opinion, incorrect.) This coin is amazing, almost certainly the finest known example of this rare issue. It is very sharply struck with a square edge, high wire rim, and partially prooflike fields. All of the stars are fully struck to their central points. There is a slight planchet depression on the chin and some weakness at the vertical hair curl on the neck. Light striations, running more or less vertically, are seen on both the obverse and reverse, mostly on the reverse. The fields have only a few very light contact marks, and the color of the coin is a beautiful yellow and coppery gold color. A die break runs from the reverse rim through the I in AMERICA, then to the tips of the top two arrowheads, and continues to the lowest feathers of the eagle's right wing. Curiously, there is a little area of die scratches or die file marks by the denticles closest to each obverse star; they vary slightly, the most prominent at the 13th star. In the denticles below the date, appear what may be the tops of numerals from the date that were originally punched in the wrong position. Just the barest tops of them are visible, and it is difficult to tell exactly what they are, but it looks to be the top of a 1 and the top of an 8. If this is the case, this is one of the most sensational misplaced dates in U.S. numismatics."
With an illustrious pedigree harking back to several of the most famous numismatists of the 20th century, this marvelous coin, like its siblings in the present sale, should spur considerable bidding excitement.
Ex: Colonel E.H.R. Green; King Farouk (Palace Collections of Egypt, Sotheby's, 2/1954), part of lot 249; John Jay Pittman Collection, Part One (Akers, 10/1997), lot 949, which realized $77,000; ANA Charlotte Signature (Heritage, 3/2007), which realized $79,499.99.(Registry values: P5)
Coin Index Numbers: (NGC ID# 25SD, PCGS# 8196, Greysheet# 8957)
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.
Auction Info
2011 January Tampa FUN Signature & Platinum Night US Coin Auction #1151 (go to Auction Home page)
Auction Dates
January, 2011
5th-9th
Wednesday-Sunday
Bids + Registered Phone Bidders: 7
Lot Tracking Activity: N/A
Page Views: 2,222
Buyer's Premium per Lot:
15% of the successful bid per lot.
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