1850-C $5 MS64 PCGS. Winter-4....

Description

1850-C Half Eagle, MS64
Probable Sole Finest Known
Beautiful Color; Choice Surfaces
Ex: Atwater, Bareford, Milas

1850-C $5 MS64 PCGS. Winter-4. Rich olive-gold fields and yellow-gold devices are complemented with a modest overlay of reddish patina. The surfaces showcase scintillating, semi-reflective luster that is very unusual on Charlotte Mint gold. The obverse fields are faintly striated and abrasions on either side of the portrait are all that keep this beautiful specimen out of the Gem class. Sharp striking definition is present in virtually all areas, with only a hint of isolated softness on the reverse. This coin is an example of the weak mintmark variety, but the superior level of surface preservation allows for full appreciation of this important design element.
     The Charlotte Mint produced 63,591 half eagles in 1850, a figure that is consistent with the surrounding years, but is high in the context of Charlotte half eagles as a whole. The availability of Fine through low-end AU examples makes it a popular type coin choice. However, Uncirculated survivors are extremely difficult to locate, and likely number in the single digits.
     This coin is at least tied for finest known, but there is a good chance that it claims that position outright. As we wrote in our previous offering of this specimen at the April 1999 Central States Sale, "[s]pecialists in the field of Southern gold and the grading services have placed this flashy '50-C five at the top of the list for the issue." PCGS lists just one certification in MS64, the present offering. However, it was previously housed in an NGC holder in the Ed Milas Collection Sale in 1995. It was then crossed to PCGS, likely right before the aforementioned April 1999 appearance, as the Generation 4.0B holder it was housed in at that time debuted just six months prior. In its January 2004 appearance, it was in the same holder, and the description notes, "[a]lthough both NGC and PCGS report an 1850-C half eagle in MS64, the present coin actually started in an NGC holder before transferring into the current PCGS holder. This is, therefore, the single finest certified example available to advanced gold collectors." It likely transferred to its current holder, a Generation 4.1, soon after that sale, as that design was discontinued in November 2004. The PCGS population remained at one following the holder change. However, the current NGC Census reports a certification in MS64, but it is unknown if it still represents the prior certification of the present offering, or a recently upgraded example that has yet to hit the market. Either way, the advanced collector who requires the finest C-mint gold should look no further than this bombshell near-Gem, which is crossing the auction block for the first time in 22 years.
Ex: The William Cutler Atwater Sale (B. Max Mehl, 6/1946), lot 1764; The Bareford Sale (Stack's, 12/1978), lot 172, where it realized $5,500; The Ed Milas Collection (Stack's, 5/1995), lot 479, where it was repurchased for $46,400; RARCOA inventory (1996-1998); Central States Signature (Heritage, 4/1999), lot 6026, where it realized $37,950; FUN Signature (Heritage, 1/2004), lot 3029, where it realized $39,100.(Registry values: P3)
From The Presidio Collection, Part II.

Coin Index Numbers: (NGC ID# 25TZ, PCGS# 8244, Greysheet# 8993)

Metal: 90% Gold, 10% Copper
Weight: 8.36 grams
AGW: 0.27oz
Mintage: 63,591

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 all of [The Presidio Collection, Part II ]

View Certification Details from PCGS