1864 $5 JD-1, High R.6, PR64 Deep Cameo PCGS....

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1864 Half Eagle, PR64 Deep Cameo
Rare No Motto Design Type
Just 14 to 16 Examples Known

1864 $5 JD-1, High R.6, PR64 Deep Cameo PCGS. Significant mirroring persists on glassy fields, with only slight interruptions around stars 10 through 13 and via a scratch in front of the neck. The devices are a rich yellow-gold color and are completely devoid of abrasions. Strike is exquisite, with all strands of hair and feathers on the eagle clad in sharp relief.

Proofs of the No Motto design type are universally very rare, produced in a turbulent time period that saw the democratization of proof production starting in 1859, a still sizable or even higher mintages in 1860, and then the outbreak of the Civil War in 1861 that led to the mass melting of unsold examples as well as much lower subsequent mintages. Among the half eagle denomination, the 1864 remains an outlier, as its mintage of 50 coins represented a substantial 67% increase from 1863's mintage of just 30 pieces. However, while this is the most common proof of the design type, its advantage over the other dates is insignificant: just 14 to 16 examples are known, according to Dannreuther, compared to 12 to 14 of most other dates, with 1860 and 1861 coming in at just 10 to 12 and 6 to 8 survivors, respectively. Regarding this discrepancy, Dannreuther notes, "[n]umber struck relates to examples known, but some collectors who purchased 1864 Proofs did not retain them and pass them on to the next generation."

If these proofs were spent by their original owners due to war-related hardships, then they can be spotted by modern-day collectors due to the presence of die rust below Liberty's ear. Circulation strike examples, which use a different obverse die, therefore do not have this feature. This provides an opportunity for the eagle-eyed numismatist to potentially locate a circulated proof that was not identified as such.

Among the non-impaired proofs, this example places itself among the finest. The Deep Cameo designation already puts it in the upper echelon of remaining examples, and PCGS has only recorded two such certifications at the 64 level, with only four higher (10/25). Due to the low population of survivors, duplication is likely. This provides the collector with a consummate opportunity to obtain a very rare issue in one of the finest possible states of preservation.
From The Costa Family Collection, Part II.

Coin Index Numbers: (Variety PCGS# 106806, Base PCGS# 98454)

Weight: 8.36 grams

Metal: 90% Gold, 10% Copper

View all of [The Costa Family Collection, Part II ]

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