LOT Old Heritage Auctions  /  2007 Sept. Long Beach Signature Coin Auction  / 

3400

1840-O $5 Narrow Mill MS63 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:5,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1840-O $5 Narrow Mill MS63 NGC
<B>1840-O $5 Narrow Mill MS63 NGC.</B></I> One of the most abused adjectives in numismatics is the word "rare." When dealing with popular coins, like a 1909-S VDB Lincoln cent, it is immediately clear to collectors that such an issue is only rare relative to the other dates in the series, yet in reality thousands of examples have been certified in Uncirculated grades. In all fairness, there are a handful of 1909-S VDB cents that are indeed rare, with "handful" being the operative term. Those examples truly deserving of this adjective are ones that stand far and above any other specimens in terms of state of preservation and aesthetic qualities. Enter the current coin. This 1840-O half eagle transcends the word rare, being one of the finest known examples in existence. More specifically, it is ranked as the third finest known to Doug Winter in his seminal treatise on the subject, <I>Gold Coins of the New Orleans Mint</B></I> (2006).<BR> This piece is of the Narrow Mill type and exhibits raised die lines at IB in LIBERTY. It is identified as Variety Two by Winter. There are a few inconsequential abrasions in the unprotected fields, completely commensurate with the grade assigned by NGC over a decade ago. Unusual are the surfaces displaying vivacious luster and an above average strike that is typically absent on 1840-O fives. The rich, yellow-gold coloration on both sides gracefully transitions to reddish-gold at the peripheries. This is a superb specimen in every sense of the word.<BR> Experts agree that a total of less than 200 1840-O half eagles exist in all grades. The combined totals of the NGC <I>Census Report</B></I> and the PCGS <I>Population Report</B></I> suggest an even lower survival rate, especially when taking into consideration the trend of coins being submitted more than once in pursuit of a higher grade designation. The coin in this lot ranks in the upper echelon of known examples. To enthusiasts of New Orleans gold coinage, this piece represents a nearly insurmountable high grade, and to purveyors of southern gold the current specimen is recognized as one the few Select Uncirculated 1840-O five dollars extant. As of (8/07) NGC has graded two examples in MS63, with just one finer.<BR><I>Ex: Auction '88, lot 1910; Tangible Investments of America (Stack's, 5/95), lot 438; Louisiana collection; Doug Winter; Midwestern collection; Chicago Collection (Heritage, 8/1998), lot 7633.<BR></B></I><BR><BR><B>Coin Engraver:</B> Christian Gobrecht<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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