1860 $5 Large Planchet Half Eagle, Judd-271, Pollock-319, R.8, PR64+ Deep Cameo PCGS. CAC....

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Description

1860 Half Eagle, PR64+ Deep Cameo
Experimental Large Planchet, Judd-271
Only Two Examples Known
Ex: Brand-Trompeter-Simpson

1860 $5 Large Planchet Half Eagle, Judd-271, Pollock-319, R.8, PR64+ Deep Cameo PCGS. CAC. Ex: Trompeter-Simpson. Judd-271 is a landmark rarity in the pattern series, with only two examples confirmed by USPatterns.com. Only two pieces are included in the combined population data of the leading grading services, both at PCGS (11/23). The coin offered here is the finest-certified example by two grade points, with the additional benefit of a Plus designation and CAC confirmation. Heritage auctions is privileged to present this spectacular gold pattern rarity from the Bob R. Simpson Collection in this important offering.

Design
Diameter: 27 mm. Weight:129 grains. The obverse is attributed to James B. Longacre and features a finely executed head of Liberty, facing right. The date is below with 13 stars surrounding most of the obverse rim. The reverse has a spread-wing eagle with E PLURIBUS UNUM on a wreath above, UNITED STATES OF AMERICA and FIVE DOLLARS around the margin. The eagle and lettering on the reverse are suggestive of work done by Anthony Paquet, and Tom DeLorey has asserted as much. Struck in gold on a thin planchet with the diameter of a standard ten dollar eagle, with a reeded edge. Only two pieces are known in gold. There are more than a dozen copper examples known, several of which have been gilt, according to USPatterns.com. One interesting aspect mentioned by almost everyone who has cataloged this pattern is the use of an upside-down A for a V in FIVE on the reverse.

Origin of Judd-271
Judd-271 was an experimental effort to deter counterfeiting on large denomination gold coins, as outlined in David Akers' United States Gold Patterns, published in 1975. The problem this pattern was intended to solve was one of sawing apart genuine gold coins edgewise and substituting the core with the (then) lesser-valued platinum, a metal of similar weight. Then the coins were welded back together, with fresh edge lettering applied to obliterate the seam. It was believed the thinner planchet would make this operation extremely difficult, if not impossible, to complete without detection. Akers relates extensive background for these two pieces and the subsequent 1878 thin planchet gold coins in his 1975 reference:

"Dr. J.T. Barclay, who had been at the Mint in 1856-7, had recommended that coins be made thinner and more concave to prevent such counterfeiting, but at the time of his recommendations, a committee of two, appointed by the Secretary of the Treasury to investigate Dr. Barclay's process, reported that to 'make a single such piece, blending that perfection of artistic design and mechanical execution which would commend it for acceptance with the protective features which Dr. Barclay desires to incorporate, would require the construction of machinery on a scale and at a cost inadequate for regular minting business.' "

The suggestions of Dr. Barclay were implemented in 1860 with the striking of this pattern. The experiment ceased when the Civil War started, but was resumed again in 1878. In the end, the project was deemed impractical for high-speed coinage.

Interesting History of Judd-271
For years it was believed three examples of Judd-271 were extant, as Mint Director Henry Linderman allegedly owned three. However, no gold examples of this design were included in Lyman Low's 1887 catalog of his collection. One long-reported piece, which was later held in the Byron Reed Collection in Omaha, turned out to be a copper gilt Judd-272. It seems unlikely that there were ever more than two examples struck in gold. The first auction appearance of a Judd-271 was in John W. Haseltine's Addenda to his Sixty-Fifth Sale, lot 11, where it was glowingly described as:

"1860 Pattern Five Dollar Gold Piece. This piece is conceded to be the most beautiful and chaste specimen in design and execution ever struck in the United States Mint. Extremely rare, there being but two known in Gold. The companion piece being in the cabinet of Mr. R.C. Davis, of Philadelphia."

Davis, who published the first extensive research on patterns in several issues of the Coin Collector's Journal in the 1880s, listed this pattern as Davis-145. It has been listed in all the standard pattern references ever since. Judd-271 has been featured in many advanced pattern collections over the years, but the coins are always tightly held, and auction appearances are few and far between (see roster below for details). As might be expected, Judd-271 is one of the most sought-after issues in the pattern series. Remarkably, Dr. John E. Wilkison once owned both known examples of this extremely rare pattern.

The Present Coin
The coin offered here boasts a long and illustrious pedigree, beginning with pattern specialist Robert Coulton Davis in the late 19th century. The list of owners reads like a Who's Who of advanced pattern collectors, as this coin has been a highlight of such fabulous collections as those of Virgil Brand, F.C.C. Boyd, Dr. Judd, Dr. Wilkison, Ed Trompeter, and Bob R. Simpson. It is the finest of the two known examples by a wide margin. The design elements are sharply detailed throughout and the well-preserved yellow-gold surfaces include deeply mirrored fields that contrast profoundly with the frosty devices. Overall eye appeal is exquisite and the high quality within the grade is confirmed by CAC. This specimen is the Judd Plate coin. It is pictured on PCGS CoinFacts and the USPatterns.com website. Population: 1 in 64 (1 in 64+) Deep Cameo, 0 finer. CAC: 1 in 64, 0 finer (11/23).

Roster of 1860 Large Planchet Five Dollar Gold Patterns, Judd-271
This roster is based on the listing on the USPatterns.com website.
1. PR64+ Deep Cameo PCGS. Robert Coulton Davis; George Woodside Collection (New York Coin & Stamp, 4/1892), lot 111; M.A. Brown Collection (S.H. & H. Chapman, 4/1897), lot 52; Virgil Brand (Journal id #17020); Horace Brand; F.C.C. Boyd; Numismatic Gallery Monthly April 1949 and July-August 1951 editions; Dr. J. Hewitt Judd; Illustrated History of United States Coins (Abe Kosoff, 1962), lot 249; Dr. John E. Wilkison; Paramount International Coin Corporation (1973); A-Mark; Trompeter Collection; Southern Collection; Bob R. Simpson Collection. The present coin.
2. PR62 Cameo PCGS. Sixty-Fifth Sale, Addenda (Haseltine, 3/1883), lot 11; unknown intermediaries; Waldo Newcomer; Abe Kosoff; Dr. John E. Wilkison purchased this coin in the early 1940s for $4,200; Paramount International Coin Corporation (1973); A-Mark; Kagin's; 2009 ANA Auction (Bowers and Merena, 8/2009); Boston Rarities Auction (Bowers and Merena, 8/2010), lot 1385; Philadelphia Signature Auction (Heritage, 8/2012), lot 5480, realized $170,375.
Note: An example reported in the Byron Reed Collection at the Durham Museum has been identified as a gilt specimen of Judd-272.
Important Selections from The Bob R. Simpson Collection, Part XI.

Coin Index Numbers: (PCGS# 537335, GSID# 310759)

View all of [Important Selections from The Bob R. Simpson Collection, Part XI ]

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