1908 $5

Description

PCGS 1908 PR 66. As 1908 was the first year of issue for the new Pratt design, the mint struck an unusually large number (167 pieces) of proof half eagles that year. The matte finish was a novel feature at the time, and to a great extent was unpopular with contemporary collectors. The 167 proofs of this issue were widely dispersed, and this dispersion among a largely unappreciative public accounts for the large attrition rate among proofs of this year.
Like the quarter eagles of this year the color is a deep golden-tan with khaki overtones. The finish is a coarse grain matte, but when held beneath a light the surfaces seem to glow with a muted sheen created by thousands of tiny particles that disperse the light randomly over the coin.
There is evidence that not all the 167 pieces were distributed, and some, in fact, were melted on January 2, 1909 after 100 gold proof sets were assembled. Today, despite a higher mintage, the 1908 does not appear to be significantly more available than other dates of matte proof fives. We would estimate that perhaps 40-55 pieces may still be extant.
This is a splendid proof half eagle that shows no ripples in the fabric of the coin, no contact marks, no shiny spots, absolutely no post-striking impairments to distract the viewer's attention. Behind the eagle's head there is a thin horizontal line in the planchet. Obviously the coin was made with this mint caused defect because there is granularity over it. As a counterbalance to what some would perceive to be a flaw behind the eagle's head, there is a delicate streak of rainbow iridescence in the upper reverse fields. This is not immediately apparent to the unaided eye, but mild magnification should bring it into focus. Altogether this is an extraordinary coin with a strong dose of that elusive quality called eye appeal.

Coin Index Numbers: (NGC ID# 28E3, PCGS# 8539, GSID# 9332)

Metal: 90% Gold, 10% Copper
Weight: 8.36 grams
AGW: 0.27oz
Mintage: 167

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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