1868 $5 MS(PCGS#8315)

Spring 2022 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

5118

等级

AU58

价格

91,698

详细说明

Low Mintage 1868 Half Eagle 1868 Liberty Head Half Eagle. AU-58 (PCGS). CAC. This is a simply delightful example of a highly elusive Philadelphia Mint half eagle. Both sides display olive and rose-gold colors. The luster is virtually complete, and the otherwise satiny texture yields to decided semi-reflectivity in the fields. Sharply struck and nicely preserved in all regards, this 1868 half eagle holds great appeal for advanced collectors of Liberty Head gold coinage. The 1868 is part of a run of rare low mintage circulation strike Liberty Head half eagles from the Philadelphia Mint that began 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 North and Midwest, 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 has been small, however, and PCGS CoinFactsaccounts for fewer than 100 coins extant in all grades. This original and aesthetically pleasing Choice AU example is among the finest available; it is the single highest graded specimen to meet with CAC approval. Provenance: From the Fairmont Collection-Hendricks Set. PCGS Population: 10; 3 finer (MS-62 finest). CAC Population: 1; 0. PCGS# 8315. NGC ID: 25W5. Click here for certification details from PCGS.