1864 $5 PR64 Ultra Cameo NGC. JD-1, High R.6....

Description

1864 Half Eagle, PR64 Ultra Cameo
Fantastic Quality and Eye Appeal
Among 14 to 16 Survivors

1864 $5 PR64 Ultra Cameo NGC. JD-1, High R.6. With the cessation of specie payments in 1862, gold and silver were quickly withdrawn from circulation and mintages fell correspondingly. The 1864 half eagle claims a small production of 4,170 circulation strikes and 50 proofs. Each total represents a significant increase relative to the preceding year, which John Dannreuther calls "incongruous" given the continued Civil War being waged in the East. Regardless, those figures remain minuscule in the grand scheme of American coinage.

Although demand for proof half eagles in 1864 was higher than it had been in previous years, that demand was not necessarily sustained, as reflected in both the reduction in proof production in 1865 and 1866, and in the number of 1864 half eagle proofs that survive. Only 14 to 16 specimens are believed extant, according to Dannreuther, who explains that some collectors "did not retain them and pass them on to the next generation."

The 1864 is the most accessible No Motto proof issue, though it is hardly common. Thankfully, those that do exist tend to be exceptionally well-made, with dramatic contrast, thickly frosted devices, and glimmering mirrorlike fields. This PR64 Ultra Cameo representative certainly corresponds to that description.

Liberty, the eagle, and the other raised design elements stand in stark contrast to the jet-black fields featuring the classic orange-peel texturing that surround them. Eye appeal is fantastic, undiminished by the handful of wispy contact marks seen on each side. Any appearance of an 1864 half eagle proof is a noteworthy event, and we expect considerable interest in this lot. Census: 4 in 64 Ultra Cameo (1 in 64+), 6 finer (1/21).(Registry values: P4)

Coin Index Numbers: (NGC ID# 28BZ, PCGS# 98454, Greysheet# 9178)

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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