LOT Old Heritage Auctions  /  2007 (ANA) Signature Coin Auction #444  / 

1938

1862 $5 PR65 Cameo NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:67,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1862 $5 PR65 Cameo NGC
<B>1862 $5 PR65 Cameo NGC.</B></I> After the federal government stopped specie payments in 1861, it made little sense to produce further gold coins. Mintages were tiny throughout the War. Only 4,430 five dollar gold pieces were struck for circulation in 1862. Another 35 proofs were produced. Today, it is reliably estimated that about two dozen business strikes have survived. Regarding the proofs of this date, Garrett and Guth summed them up this way: <BR><BR> " ... between 10 and 12 coins known, three of which are in the collections of the Smithsonian and the American Numismatic Society. There have been just two auction appearances of this issue in the last 15 years. The population numbers probably include duplicate resubmissions, as many of these very rare coins are sent in multiple times due to the increased value of just one point on the grading scale. It is remarkable that during the Civil War the nation was able to produce such beautiful coins."<BR><BR> Picking up on this last point about the quality of coins produced, this is a wonderful proof coin and could just as easily have been produced 30 years later. The fields are deeply reflective on each side. As indicated from the Cameo designation, the devices show a significant overlay of mint frost which yields a strong contrast. Die striations are seen in the fields on each side and were not sufficiently polished out of the die prior to striking, but these are definitely not hairlines. The only contact mark of any note that can be used for pedigree purposes is located on the back part of the neck of Liberty. According to the data released by the two major certification services, there have been 14 submission events over the years for the 1862 proof five. Of those submissions, this is the second highest graded coin, being exceeded only by a PR66 Ultra Cameo.<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