1868 $5 MS(PCGS#8315)

August 2018 ANA U.S. Coins Auction Philadelphia, PA

拍卖行

Stack's Bowers

批号

1273

等级

MS62

价格

180,614

详细说明

Phenomenal Mint State 1868 Half Eagle Tied for CC#1 1868 Liberty Head Half Eagle. MS-62 (PCGS). An extraordinary condition rarity, this is one of the finest known examples of a key date half eagle issue that is scarce to rare even in circulated grades. Beautiful satin surfaces are bathed in reddish-rose patina that is particularly vivid on the reverse. Sharply to fully struck throughout with an exceptionally smooth appearance that is suggestive of a Choice Uncirculated grade. Outstanding! The 1868 is part of a run of rare low mintage circulation strike Liberty Head half eagles from the Philadelphia Mint that begins in 1862 during the darkest days of the Civil War. With the outcome of that conflict uncertain by the end of 1861, Eastern banks suspended gold specie payments in December. This resulted in the withdrawal of gold coins from circulation in the Northern and Midwestern states, although such pieces continued to see commercial use on the West Coast. With little bullion reaching the Philadelphia Mint, yearly circulation strike mintages remained small for the duration of the Civil War. Although many thought that Lee's surrender to Grant at Appomattox Court House on April 9, 1865, would soon be followed by a resumption of specie payments from banks, this did not happen. Instead, gold coins remained absent from circulation in the North and Midwest throughout the Reconstruction era, their place largely taken by paper bills. It was not until December 17, 1878, that the market achieved parity between gold and paper bills. This allowed gold specie payments to resume, and yearly mintages from the Philadelphia Mint increased significantly as a result. It is against this backdrop that the Philadelphia Mint struck just 5,700 circulation strike half eagles in 1868. Most of these coins were exported, although some likely saw circulation on the West Coast, thereby explaining the small number of mostly VF and EF survivors. Even more elusive are AU and Mint State coins, many of which were likely repatriated from foreign bank hoards beginning in the mid 20th century. The number of 1868 half eagles involved in these repatriations was small, however, and PCGS CoinFactsaccounts for fewer than 100 coins extant in all grades from well worn to Uncirculated. This aesthetically pleasing Mint State example is tied with one other PCGS MS-62 at the top of the Condition Census for this challenging issues: 1 - PCGS MS-62.The present example. 2 - PCGS MS-62.Ex Heritage's Denver ANA Signature Auction of August 2017, lot 4138. Provenance: From The Des Moines Collection. The plate coin for the issue on the PCGS CoinFactswebsite. PCGS Population: just 2; 0 finer. There are also no 1868 half eagles certified finer than MS-62 at NGC. PCGS# 8315. NGC ID: 25W5. Click here for certification details from PCGS.