1864 $5 PR65 Deep Cameo PCGS. CAC. JD-1, High R.6....

Description

1864 Liberty Half Eagle, PR65
Rare Deep Cameo Example
CAC-Approved Quality

1864 $5 PR65 Deep Cameo PCGS. CAC. JD-1, High R.6. Ex: Simpson. The financial stresses and uncertainties of the Civil War encouraged widespread hoarding and melting of all precious-metal coinage during that era. Despite that trend, the Philadelphia Mint struck a fairly generous mintage of 50 proof Liberty half eagles for collectors in 1864, to accompany a typically modest business-strike production of 4,170 pieces. The proofs were all delivered on February 11. A single pair of dies was used to strike all the proofs. An artifact below Liberty's ear makes it simple to differentiate between proofs and prooflike business strikes. This artifact has been described as a die line in the past, but John Dannreuther notes it is actually due to die rust. This was the only use of the obverse die, but the reverse had been used previously to produce proofs in 1863. Despite the larger-than-average mintage, most experts estimate only 14-16 examples survive today in all grades. It seems likely that some examples went unsold, and were melted after the end of the year. It is also possible that some original owners simply spent their coins for face value, during hard financial times in the 19th century. Current population data seems to be inflated by resubmissions and crossovers. Two pieces are included in the National Numismatic Collection in the Smithsonian Institution, and another is in the ANS collection.

The coin offered here is a beautiful, bright yellow-gold specimen that has illimitable depth of mirrored reflectivity in the fields. The devices stand in stark contrast to the dark fields and show thick mint frost over all the devices. The diagnostic artifact below Liberty's ear is present, but only shows on close inspection. The only contact marks that might aid in tracing the pedigree of this important proof are a pair of reeding marks in the left obverse field between stars 4 an 5. Overall eye appeal is terrific and the high quality within the grade is confirmed by CAC. The plate coin for John Dannreuther's United States Proof Coins, Volume IV: Gold. This coin is pictured on PCGS CoinFacts. Population: 2 in 65 Deep Cameo, 1 finer. CAC: 2 in 65, 1 finer (11/23).
Ex: Baltimore (ANA) Signature (Heritage, 7/2008), lot 1980; ANA Convention Auction (Bowers and Merena, 8/2009), lot 4547; Bob R. Simpson Collection.(Registry values: P4)
Important Selections from The Bob R. Simpson Collection, Part XI.

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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