1915 $5 PR66 NGC. CAC....

Description

1915 Five Dollar Indian, PR66
End of the Classic Era of Proof Gold

1915 $5 PR66 NGC. CAC. As John Dannreuther wistfully muses, "With the 1915 Proof gold coins, the Classic Era of United States Proof coinage ended for the yellow metal coins ... " It is difficult to properly catalog a 1915 proof half eagle without some discussion of matte proof coinage in general. Collectors at the time simply did not like them. When the Mint adjusted the proofing process in 1909-1910 to strike unfinished planchets, they didn't like that either. When the proof finish reverted to the matte textured surfaces in 1911, mintages varied within a narrow range, but the general trend was clearly downward. In 1915 it hit rock-bottom with only 75 proof fives struck. Collectors today are more accepting of the matte finish proofs, some are even enthusiastic. However, between 1915 and today there were many years when these unappreciated proofs were spent because of their relatively high face value. This attrition (one suspects it peaked during the Great Depression) has left only an estimated 45 to 55 pieces available for collectors today in all grades (most are PR64 to PR65).

Condition is another factor when considering matte proof gold. The surfaces are fragile and easily show even the slightest contact mark or abrasive handling (usually seen as "shiny spots"). This particular coin is among the finest known. The obverse shows no observable surface defects. A faintly visible arc of shininess can be seen with a loupe from the top of the I in IN on the reverse and extending into the field above; this being the limit of problems on this spectacular coin. Census: 8 in 66, 2 finer (6/19).
From The Joan Zieg Steinbrenner Collection. (Registry values: N7079)

Coin Index Numbers: (NGC ID# 28E9, PCGS# 8546, Greysheet# 9339)

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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