1878 $5 J-1570

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Unique 1878 Gold Half Eagle Pattern, Judd-1570

1878 Half Eagle, Judd-1570, Pollock-1764, Unique, PR 65 PCGS. A bold, aggressive representation of Liberty shown facing left, her hair combed back and tied in a bun, with a long curl that extends well down the back of the neck. Two ornamental ribbons decorate the top of her head, including one that runs horizontally and proclaims the word LIBERTY in incused letters. The portrait is framed by the date and by E PLURIBUS UNUM, with the wording of this obverse motto separated by pellets or periods. The reverse design features a defiant heraldic eagle grasping an olive branch and three arrows in its talons. The inscriptions UNITED STATES OF AMERICA, IN GOD WE TRUST, and FIVE DOL. encompass the eagle. Struck in gold on a thin, reeded edge planchet and a diameter very close to one inch (25.4 mm.), compared to the 21.6 mm. diameter that was standard at the time.
These broad, thin planchets were first suggested by Dr. J.T. Barclay of the U.S. Mint in the mid-1850s and an initial prototype was struck in the form of the 1860 gold half eagle pattern, Judd-271, which has an even larger diameter of 27 mm., equaling that of a ten dollar piece. They were intended as an anti-counterfeiting measure during a period when rising production of gold coins and increased availability of similarly heavy, but contemporarily less valuable platinum metal ignited concern among Mint officials over the potential use of platinum plugs for existing gold coins. This fear, referred to in Mint reports as the "platinum menace," apparently gained at least mild support in the years following the Civil War, although it eventually proved to be unfounded as a widespread problem.
The glittering surfaces of this unique gold pattern reveal the slightest blushes reddish-orange patina overall that bespeak originality. Inspection with a glass is required to locate even to most insignificant blemish. Some softness in the strike is noted on Liberty's ear and surrounding hair curls, in addition to bluntness on the highpoints of the eagle's breast. In the unlikely occasion of another example of this important gold pattern ever surfacing (a question mark follows Pollock's unique status), this piece is readily identifiable by a very shallow, perforated hairline to the left of the eagle's wing that extends to the border at 8 o'clock.
Ex: W. Newcomer; Palace Collection of King Farouk (Sotheby's, 1954), lot 315, where it realized the princely sum of $746.20.

Coin Index Numbers: (PCGS# 61933, GSID# 14830)

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