LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

3216

1908 $5 MS68 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:97,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1908 $5 MS68 NGC
<B>1908 $5 MS68 NGC.</B></I> Early in 1908, Dr. William Sturgis Bigelow, a close friend of President Theodore Roosevelt, proposed to the President the idea of making coins with devices sunk beneath the fields; that is, with the relief designs depressed so that the highest points would not be worn away. With Roosevelt's blessing, Bigelow persuaded Boston sculptor Bela Lyon Pratt to submit models on this technique. Roosevelt enthusiastically approved the designs, and ordered that Pratt's models go to the Mint for translation into master dies, hubs, and working dies. The new design was to be used on the quarter and half eagles, both dated 1908.<BR> Pratt's design were criticized early on. One of the most vocal critics was Philadelphia coin dealer Samuel Hudson Chapman, who alleged that the designs were "antinaturalistic, unhygienic, incapable of stacking, and too easily counterfeited." Despite these objections, the designs remained without further modification, and graced both the quarter eagle and half eagle denominations through 1929.<BR> The 1908 five dollar piece, with a mintage of 577,845 business strikes, is one of the most common issues of the series, and is readily available in all grades through near-Gem. Indeed, NGC and PCGS have certified several thousand pieces through this level of preservation. The census/population figures drop significantly as the grade rises. The MS68 specimen for sale in this lot is the <I>only </B></I>1908 piece awarded that grade by either service and is one of just three coins at that level in the combined certified population for the entire series (11/07).<BR> The satiny surfaces display a delicate mix of yellow-gold, mint-green, and orange that benefits from vibrant luster. A solid strike has resulted in crisp definition on the design elements, including the hair at the Indian's temple, the feathers of the bonnet, and the eagle's plumage. Close scrutiny reveals no mentionable marks on impeccably preserved surfaces. A simply magnificent exemplar, the ultimate type coin.<BR><BR><B>Coin Engraver:</B> Bela Lyon Pratt<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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