1909 $5 PR67 PCGS. CAC....

Description

1909 Indian Head Five, PR67
Stunning CAC-Approved Satin Proof

1909 $5 PR67 PCGS. CAC. Ex: Harry W. Bass, Jr. Collection. Mint records examined by John Dannreuther in United States Proof Coins, Volume IV: Gold, show that 230 proof quarter eagles were struck in January 1909. However, quarterly sales reports indicate that a total of only 78 pieces were sold to collectors, the remainder being melted. Low collector demand for the issue is traditionally attributed to the unusual satin finish given to the coins, since brilliant fields and frosted devices could not be produced with traditional methods on the sunken relief Indian Head design. The die-making procedure to produce the satin finish is not fully understood. Popular theories are that the dies were polished and then sandblasted, or were acid treated prior to coinage. Dannreuther leans toward the sandblast scenario, with would explain the faintly reflective and yet textured surfaces of the 1909 proofs. However the finish was produced, it proved even less popular with contemporary collectors than the sandblast finish, and it was replaced in 1911 with the original sandblast proofs.

Today, the rarity and unique appearance of the satin proofs of 1909 make these coins highly sought after among collectors. The Bass half eagle is an exceptional example of the issue. Graded PR67, it is surpassed numerically by only one other coin at PCGS, and it ranks among the top four pieces overall with CAC endorsement.

Less than 20% of the Superb Gem 1909 proof half eagles that we have seen were housed in PCGS holders, and only one such coin has appeared in our auctions within the last 15 years -- a PR67+ PCGS CAC specimen in our February 2016 Long Beach Signature, which realized more than $105,000. In our opinion, the Bass coin is the technical and visual equal of that piece, a borderline Condition Census example by any measure, and arguably within the Condition Census if only exceptional pieces for the grade are considered. Each side is sharp and delicately preserved, with rich orange-gold patina and distinctly attractive surfaces. Population: 3 in 67 (1 in 67+), 1 finer. CAC: 3 in 67, 1 finer (8/22).
Ex: Purchased from Goliad Corporation (4/13/1972).
From The Harry W. Bass, Jr. Core Collection, Part I.(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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