1866 $5 PR64 Deep Cameo PCGS. CAC. JD-1, Low R.7....

Description

1866 Half Eagle, PR64 Deep Cameo
Mintage of 30 Proofs
Fewer Than Half Survive

1866 $5 PR64 Deep Cameo PCGS. CAC. JD-1, Low R.7. The addition of the motto IN GOD WE TRUST was authorized by the Mint Act of March 3, 1865 and first appeared on a scroll above the eagle for the 1866 five dollar issue. John Dannreuther describes the design modification as "an attempt to raise the collective conscience of the country after the devastating Civil War. It was thought that the addition of the motto might help heal the wounds of the conflict."

Half eagle production at the Philadelphia Mint comprised a scant 6,700 circulation strikes and 30 proofs in 1866. Naturally, five dollar gold pieces bearing the 1866 date are highly prized in any format and in any grade, but the proofs are particularly popular. Of the 30 representatives struck, Dannreuther estimates 10 to 12 pieces extant, noting "it is unlikely 15 coins can be enumerated." The PCGS Population Report lists nine submissions in all. That includes seven in non-Cameo (one PR50, one PR58, two PR63, two PR64, and one PR65), plus two coins in Deep Cameo. This PR64 Deep Cameo example is joined by a single proof in PR66 Deep Cameo that was last offered publicly in a June 2016 Goldberg Auctions sale. The NGC Census lists another two submissions in non-Cameo, one in Cameo, and four in Ultra Cameo.

This magnificent proof rarity showcases beautifully textured and deeply reflective fields that appear almost jet-black. They stand out in stark contrast to the thickly frosted and predictably fully struck yellow-gold devices. A few tiny planchet voids appear to be the only useful pedigree markers. Population: 1 in 64 Deep Cameo, 1 finer. CAC: 2 in 64, 1 finer (7/22).(Registry values: P4)

Coin Index Numbers: (NGC ID# 28C3, PCGS# 98461, Greysheet# 9184)

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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