1892-O 50C MS(PCGS#6462)

March 2018 Baltimore U.S. Coins Auction

拍卖行

Stack's Bowers

批号

2222

等级

MS66

价格

569,971

详细说明

The Only Specimen 1892-O Half Dollar Certified First Year of Issue for the Barber Type Specimen-66 * NGC 1892-O Barber Half Dollar. Specimen-66 * (NGC). This is a fascinating coin that, even at first glance, is superior in both quality and eye appeal to the typical high grade 1892-O half dollar. Both sides exhibit a remarkable degree of frost to the devices, which stand tall against a backdrop of mirrored reflectivity in the fields. The surfaces are fully untoned with an ice white brilliance that allows ready appreciation of bold cameo contrast between the fields and devices. The strike is generally full but, in true New Orleans Mint fashion, a couple of the obverse stars are a bit soft in the centers, as is the eagle's left thigh, talon and the arrow feathers on the reverse. Surface preservation is outstanding, as the assigned grade confirms, this overall pristine specimen undoubtedly handled with great care since the moment of striking. One of the most significant Barber half dollars of any issue that we have ever offered, this coin would serve as a highlight in the finest collection of Barber or New Orleans Mint coinage. The existence of this special striking of the 1892-O half dollar was unknown to Walter Breen when he published his Encyclopedia of United States and Colonial Proof Coinsin 1977. The author does list numerous branch mint Proofs from the Louisiana facility, beginning with the famous 1838-O half dollar and including, from the Barber half dollar series, the 1895-O. Breen also reports a branch mint Proof 1892-O Morgan silver dollar although, in our opinion, there were more compelling reasons for the New Orleans Mint to strike special half dollars in 1892. Not only is the 1892-O the first New Orleans Mint half dollar of the Barber design type, but it is also the first issue of this denomination struck at the New Orleans Mint since 1861. The significance of the 1892-O half dollar was addressed extensively in an article by Paul M. Green in the May 2, 2006, issue of Numismatic News: "....the written information of the time suggests there was quite a bit of interest in the Columbian Exposition half dollars, which might have been natural as they were the first half dollar commemorative of the United States. The new dimes, quarters and half dollars for circulation were apparently not as interesting. "There should have been some interest in the 390,000 Barber halves produced at New Orleans that year if for no other reason than the fact that half dollar production at New Orleans was unusual. The New Orleans facility had produced its last half dollar three decades earlier in 1861, when the Civil War was dividing the nation. "The story behind the lack of New Orleans half dollar production was a simple one. After falling to state of Louisiana forces in 1861 and then being turned over to the Confederate States of America, the New Orleans facility had basically been allowed to decay. The same happened to the other Southern facilities, at Dahlonega, Ga., and Charlotte, N.C. What made New Orleans different was that it managed to come back to life, resuming U.S. coin production in the late 1870s. "The New Orleans facility had another chance, unlike the Dahlonega and Charlotte Mints, for a couple reasons. The first was that there was some complaint in New Orleans that the deal that had given the government the land for the facility required that there be coin production. The second was that New Orleans had produced silver and gold issues, unlike Dahlonega and Charlotte which produced only gold. That entered the picture because it was becoming clear that the country had a problem with too much silver thanks to the Comstock Lode....The 'O' Mint was, however, basically limited to silver dollars and gold until 1892 when the facility expanded to produce the new Barber issues." With the historical significance of the issue in mind, it is not difficult for us to imagine a scenario in which the staff of the New Orleans Mint prepared a few specimen strikings of the 1892-O half dollar, perhaps for presentation to Chief Engraver Charles E. Barber or dignitaries present at the facility's first half dollar coinage in 31 years. This is one of the few 1892-O half dollars that we have handled over the years with legitimate claim to specimen or branch mint Proof status, a conclusion with which NGC clearly agrees. With beauty to match its rarity and significance, this captivating Gem is sure to have no difficulty finding its way into an advanced numismatic cabinet. Click hereto see PCGS Founder David Hall discuss this item. Provenance: From Heritage's CSNS Signature Coin Auction of April 2008, lot 2322; Heritage's CSNS Auction of April-May 2009, lot 2489; our Chicago ANA Auction of August 2011, lot 7377; Heritage's CSNS Signature Auction of April 2013, lot 4291. Click here for certification details from NGC.