1864 $5 MS61 NGC....

Description

1864 Half Eagle, MS61
Rare Mint State Example
Tied for Finest at PCGS or NGC

1864 $5 MS61 NGC. The meager production of just 4,170 half eagles by the Mint in 1864 was the result of not only a war-weary malaise, but also of political and economic realities. The National Bank Act of 1864 was passed, and hundreds of new banks churned out National Bank Notes that circulated not only in the East, but for the first time were legal tender in the West along with Legal Tender Notes, (albeit trading at a steep discount to hard money). Confederate currency was nearly worthless, trading at $2,000 face value to buy $100 in silver coin. All gold and silver issues were hoarded and disappeared from circulation.

Amazingly few half eagles were preserved and as a result, the issue remains a great rarity in Uncirculated condition. This example is tied for the finest certified, and comes out of the Edward Milas Collection of No Motto Liberty Head Half Eagles sold in 1995. Housed in the fat NGC holder with exposed hologram contemporary with the sale, the piece is lustrous and obviously Mint State. It displays only minor field chatter and a sharp strike, with rich, medium-gold surfaces that show glimpses of orange-gold hues when rotated in light. Just six examples appear on the combined PCGS and NGC population reports in Mint State, five of them at the MS61 grade plus one MS60 example. NGC Census: 3 in 61, 0 finer (2/15).
Ex: Edward Milas Collection (Stack's, 5/1995), lot 529.
From The New Orleans Collection.(Registry values: P7)

Coin Index Numbers: (NGC ID# 25VU, PCGS# 8296, Greysheet# 8910)

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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