LOT Old Heritage Auctions  /  2008 April Rosemont, IL (CSNS) US Coin #1104  / 

2449

1877 $5 MS66 Prooflike NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:62,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1877 $5 MS66 Prooflike NGC
<B>1877 $5 MS66 Prooflike NGC.</B></I> Considering a mintage of only 1,132 piecesGÇöthe second lowest in the entire seriesGÇöand the fact that fewer than 100 examples are believed to be extant in all grades, conservatively speaking, the acquisition of any 1877 half eagle is cause to celebrate. Those fortunate enough to locate an 1877 five will usually have to settle for a circulated coin. Only 15 pieces have been graded at the MS level at both NGC and PCGS combined (3/08), so the math is clear. The finest known to Garrett-Guth is the Smithsonian coin which they grade as MS63 Prooflike, with the second-finest according to the same authors the Harry W. Bass, Jr. example, which is currently in a PCGS MS62 holder. Apparently they were unaware of the coin currently offered here, which is, by a considerable margin, the finest known example of this elusive date. Beside this specimen, no 1877 has been graded above the MS62 level at either service. It is likely that David Akers was aware of the piece offered here when he wrote in 1979: "I have seen one beautiful prooflike Gem." <BR> Garrett and Guth note in their <I>Encyclopedia of U.S. Gold Coins</B></I> that this issue is always prooflike in Uncirculated condition, however, since so few are known in Mint State, the full beauty of well-preserved prooflike fields is rarely seen. That is until now. Not only are the fields brightly reflective on this piece but the devices are also notably frosted which gives the coin considerable contrast on each side. Pinpoint striking definition is seen on each side, with the only exception the eagle's neck feathers--a usual occurrence on P-mint gold from this era. The surfaces are remarkably clean, even for an MS64. The only marks that might be used for pedigree purposes are a series of fine abrasions just to the left of star 11 on the obverse, and on the reverse there are a couple of light field marks below AM. Census: 1 in 66 Prooflike, 0 finer (3/08).<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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