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

1929

1862-S $5 MS61 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:29,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1862-S $5 MS61 NGC
<B>1862-S $5 MS61 NGC.</B></I> As the Civil War raged in the East, two states of the Union, California and Oregon, remained largely isolated from the conflict's economic effects. While the specie-starved federal government ceased payments in gold and private citizens hoarded coins of all kinds, the West Coast states remained awash in precious metal, and the San Francisco Mint's production of double eagles remained strong, as many Californians strongly distrusted paper currency. As Q. David Bowers (2004) wrote in <I>A Guide Book of Double Eagle Gold Coins</B></I>, "the double eagle reigned supreme as the coin of choice in many transactions and of necessity in large ones." That facility's output of lower-valued gold coins, however, was unsteady and subject to continually fluctuating demand for what passed as "small change." Of the quarter eagles and half eagles that the Mint coined, almost all entered circulation and stayed there, and many of the examples bought and sold today have significant wear.<BR> It comes as little surprise, then, that Mint State representatives of any Civil War-era half eagle issue are condition rarities, and for the 1862-S, which has a tiny original mintage of just 9,500 pieces, just three such coins appear in the certified populations of NGC and PCGS combined (6/07). This attractive example has lovely, shimmering luster and light yellow-gold surfaces with delicate straw-colored accents. Both sides exhibit crisp detail, and while scattered abrasions preclude a finer grade, the overall eye appeal is strong. A wonderful opportunity to own an example of this elusive issue in a top-notch grade.<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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