1842-D $5 Large Date MS61 NGC....

Description

Exceptional 1842-D Large Date Five Dollar, MS61
One of the Finest Examples Known
Ex: S.S. New York

1842-D $5 Large Date MS61 NGC. Ex: S.S. New York. Large Date and Letters. Reverse of 1842. Variety 9-G, the only die variety known for this issue. In Gold Coins of the Dahlonega Mint 1838-1861, Doug Winter states that this variety was created when the Philadelphia Mint sent a new pair of dies to Dahlonega in late 1842. The original mintage is reported as 21,691 pieces, but even this small figure seems too large in view of the coin's rarity in today's market. Recent data suggests that 85-95 examples of this variety are extant, with about 80% of this population grading in the VF-XF range. AU coins are very rare, and the issue is High R.7 in Mint State. In the context of Dahlonega half eagles, the 1842-D Large Date is second only to the famous 1861-D in absolute rarity, and is first in high-grade rarity.
The recent recovery of treasure from the wreck of the S.S. New York has challenged traditional wisdom about the distribution of early Southern gold. The S.S. New York was a light cargo and passenger ship operating between New Orleans and Galveston in the 1840s. She sank in a hurricane on September 17, 1846, with a reported loss of 17 crew members and more than $30,000 in gold. Nearly all of the U.S. coins recovered were from the New Orleans or Dahlonega mints, with only two coins from their sister mint at Charlotte. The treasure contained several outstanding numismatic rarities, including the present coin. According to a report by Doug Winter on the NGC website, the coins were conserved by Numismatic Conservation Service and certified by NGC.
The discovery of this NGC-graded MS61 coin has drastically alter the Condition Census for this issue. Previously, only three coins had been certified at the Mint State level. Experts have long agreed that the Eliasberg/Duke's Creek specimen was the finest known. The MS61 North Georgia/Green Pond example was generally listed as number two in the Condition Census, and the Byron Reed coin was number three. The present coin is a challenge to the Duke's Creek and Green Pond coins for the top spot in the Condition Census.
The yellow-gold surfaces of this stunning coin are somewhat prooflike in appearance, an effect more pronounced on the reverse than the obverse but clearly an early strike from both dies. The strike is nearly full and extremely sharp for a D-mint half eagle, with only a touch of softness visible on the high point hair. Light chatter appears in the fields, but the only singular contact marks are a scrape in the obverse left (facing) field near star 2 and two ticks on the reverse near the eagle's beak.
This piece is certified in a custom NGC encapsulation identifying its S.S. New York origin and bearing the notation "NGC Shipwreck Certification."(Registry values: P5)

Coin Index Numbers: (NGC ID# 25SY, PCGS# 8211, GSID# 8968)

Metal: 90% Gold, 10% Copper
Weight: 8.36 grams
AGW: 0.24188oz
Mintage: 59,608

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.

View Certification Details from NGC