LOT Heritage Rare Coin Galleries  /  2007 Signature Coin - Charlotte, NC #432  / 

1908

1840-C $5 MS64 NGC. Ex: Pittman. Variety 2-B, Die Stat

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1840-C $5 MS64 NGC. Ex: Pittman. Variety 2-B, Die Stat
<B>1840-C $5 MS64 NGC.</B></I> Ex: Pittman. Variety 2-B, Die State II. This is a famous, rare, and illustrious coin with a fine pedigree to boot, one that harkens back not only to the collection of the legendary John Jay Pittman, but also before him to the King Farouk sale and the collection of Col. E.H.R. Green, son of the "Witch of Wall Street," Henrietta "Hetty" Green. This near-Gem 1840-C half eagle is also <I>the finest example of this rarity, by four grade points, that Heritage has ever had the privilege to offer, and even today continues to be quite likely the finest known.</B></I><BR> In cataloging the historic Pittman collection, David Akers had the following comments concerning this coin:<BR><BR>"Broad Mill, as are all 1840-C Half Eagles. (Rumors of a Narrow Mill version of this issue are unsubstantiated and, in my opinion, incorrect.) This coin is amazing, almost certainly the finest known example of this rare issue. It is very sharply struck with a square edge, high wire rim, and partially prooflike fields. All of the stars are fully struck to their central points. There is a slight planchet depression on the chin and some weakness at the vertical hair curl on the neck. Light striations, running more or less vertically, are seen on both the obverse and reverse, mostly on the reverse. The fields have only a few very light contact marks, and the color of the coin is a beautiful yellow and coppery gold color. A die break runs from the reverse rim through the I in AMERICA, then to the tips of the top two arrowheads, and continues to the lowest feathers of the eagle's right wing. Curiously, there is a little area of die scratches or die file marks by the denticles closest to each obverse star; they vary slightly, the most prominent at the 13th star. In the denticles below the date, appear what may be the tops of numerals from the date that were originally punched in the wrong position. Just the barest tops of them are visible, and it is difficult to tell exactly what they are, but it looks to be the top of a 1 and the top of an 8. If this is the case, this is one of the most sensational misplaced dates in U.S. numismatics."<BR> Doug Winter may be correct about the usual 1840-C: "There are few Charlotte coins which are harder to locate with good eye appeal than the 1840-C half eagle." That certainly is not the case with this coin. The luster on this example is bright and frosted and mixed generously in with the semi-reflective fields on each side. This piece continues today to be the finest certified at either service by several grade points. The closest example at NGC is a solitary MS61, while PCGS has certified an MS62 and three AU58 coins as runners-up. The digits below the date are actually fairly prominent to the discerning eye, and are seen on many examples of this issue. In fact, the Bass Collection had three AU specimens, each of which showed the errant numerals near the rim. This is the late die state of the reverse, in which the noted die crack extends through the I in AMERICA. Subsequent discoveries have confirmed the existence of a few examples of the Narrow Mill variety of this issue, a fact that is irrelevant to the present coin. Douglas Winter, in his reference <I>Gold Coins of the Charlotte Mint,</B></I> calls the 1840-C issue the second rarest C-mint half eagle, behind only the 1842-C Small Date. The 1840-C is also a popular issue for its status as the first C-mint half eagle for which the mintmark has been moved to the reverse, as opposed to the obverse position of the 1838-C and 1839-C emissions.<BR> To sum up this incredible coin, not only is it intrinsically phenomenal, in a state of preservation that is virtually unknown in this difficult series, but it is backed by one of the finest pedigrees in numismatics. This coin is surely destined to set a new record for this issue, as its importance and desirability cannot be overstressed. Census: 1 in 64, 0 finer (2/07).<BR><I>Ex: Col. E.H.R. Green Collection; King Farouk (Sotheby's, 2/1954), part of lot 249; John Jay Pittman (David Akers Numismatics, Inc., 10/1997), lot 949.</B></I><BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
Sign In to Bookmark Lot