1909 $5 PR67 NGC. JD-1, R.5....

Description

1909 Five Dollar Indian, PR67
Remarkable 'Brilliant Matte Proof'

1909 $5 PR67 NGC. JD-1, R.5. The 1909 claims the second-lowest mintage in the matte proof Indian half eagle series. Just 78 pieces were distributed to collectors. The largest sales report of proofs took place on March 26th, 1909, with a tally of 32 pieces. Additional proofs sold each quarter amounted to, on June 23rd (11 coins), September 27th (10 coins), and December 21st (25 coins). It is believed that 50 to 60 of those pieces survive. That is a fairly high survival rate by percentage, but it is a small population compared to the number of collectors who pursue this series.

Collector dissatisfaction with the sandblast proof finish introduced in 1908 prompted the Mint to attempt a new finish in 1909. While the old polished fields appearance could not be achieved with Pratt's sunken-relief design, the Mint attempted to get as close as possible. In United States Proof Coins, Vol. IV: Gold, John Dannreuther states:

"The complaints resulted in the production of this year's coins with a semi-prooflike surface. They have a sheen that is similar to the orange peel surfaces seen on many of the brilliant Proofs. Breen noted that Wayte Raymond called the 1909 and 1910 issues 'brilliant matte proofs.' This is an accurate description of these surfaces."

Surviving 1909 proof half eagles are rare enough that it is difficult to see trends in their level of preservation. Examples are extant in grades from PR63 to PR68, and any piece is an individual rarity. The present coin resides near the top of the census and thus deserves special notice. Sharp motifs and bright straw-gold surfaces complement a complete absence of abrasions. Eye appeal is excellent. Census: 11 in 67 (3 in 67★ ), 3 finer (11/22).(Registry values: N10218)

Coin Index Numbers: (NGC ID# 25ZS, PCGS# 8540, Greysheet# 9333)

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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