Goldberg Coins and Collectibles

Sale 78

January Pre-Long Beach Sale 17.5% BP

$5 Liberty/With Motto

Lot	Photo	Description	Realized
Lot 1795		1876. PCGS graded Proof 64 Cameo PQ. CAC Approved. Only 45 minted. Lovely golden toning on both sides. A wonderful coin. A prestigious example of this very rare date we are fortunate to offer in the present sale. Even though veteran numismatists are acquainted with the fact that this date is rare and seldom offered, it is possible that it has been overlooked somewhat because it follows the legendary 1875 half eagle, with a total mintage of 240 Proofs and business strikes. Even so, the 1876 is in an elite group both as a circulation strike and as in Proof quality. Mint records show that 1,432 business strikes were made, plus 45 Proofs. Walter Breen, in his "Complete Encyclopedia of U.S. and Colonial Coins" avers that all Proofs, including the present example, share the same attribute: a small die lump on the neck just below the jaw, directly above the 1 in the date. The present example lovely Cameo frosted-on-mirror contrast between the highly reflective fields and the satiny devices. There are a few hairlines noted on this coin, primarily in the fields and detectable under magnification on both sides. The obverse shows a thin toning line on the face from the area of the nose to the cheek with only one or two little scuffs also virtually undetectable without a glass. This bestows on rarities buyers an opportunity almost without equal for the rare date or type specialist to acquire one of the finest known examples of this date. Tied for finest graded at PCGS: Pop 2; none finer at PCGS (PCGS # 88471) . Centennial year, 1876: One of the high spots of the Centennial Exposition held in Philadelphia in 1876 was the starting of the great 70-foot-tall Corliss steam engine, the wonder of the day, which turned the machinery in Machinery Hall. Dom Pedro, the emperor of Brazil, accompanied by President Ulysses S. Grant, turned on the power which put the huge machine in motion. It was purchaed by the Pullman (railway) Company following the close of the Exposition and for many years ran in its plant at Chicago. Built by George Corliss, it was the largest steam engine in the world. Of engines like the Corliss, William Dean Howells wrote, "In these things of iron and steel the national genius speaks." Estimated Value $17,000 - 19,000. View details and enlarged photos Check results on similar lots	Realized $38,775
Lot 1796		1884. PCGS graded MS-63. Attractive subtle golden toning is evident on both sides. Scarcer than the more often seen S-mint 1880s decade Half Eagles, and glowing with color. Pop 21; 3 finer, 1 in 64, 1 in 65, 1 in 66 (PCGS # 8364) . Estimated Value $1,400 - 1,450. View details and enlarged photos Check results on similar lots	Realized $1,469
Lot 1797		1886-S. PCGS graded MS-62. Several of the S-mint issues from the 1880s are relatively common since this Mint's gold production often surpassed that of the Philadelphia Mint. Frosty (PCGS # 8370) . Estimated Value $400 - 450. View details and enlarged photos Check results on similar lots	Realized $447
Lot 1798		1887. PCGS graded Proof 63 Cameo. A boldly struck example of this classic Proof-only rarity. The mirror fields with the orange-peel appearance give excellent contrast to the frosted devices; all delicately toned. A mere 87 coins were struck for the year. Date high, slants up to right; left base of 1 above about center of dentil, base of 7 further above border, top of 7 close to truncation. Reverse: Possibly the repolished die of 1886, according to Breen. Little die polish in white stripes; enough die polish at leg feathers near leaf to make inner feather thin and free of leaf; without the irregular extra outlines at F A. The 1887 has the honor of being the only Proof-only issue in the entire U.S. Half Eagle series of 1795-1929. Perhaps the 1887, with its unique status among Half Eagles and its associated popularity with numismatists, appears at auction more frequently than other Proofs in the Liberty series and, thus, led some authorities to think it is more common than it actually is in various auction surveys. That said, the 1887 Half Eagle will forever enjoy a place of distinction in the pantheon of classic U.S. gold rarities. Both sides are veiled in khaki-gold color that presents a hazy appearance at many angles. Direct light, however, reveals reflective qualities in the fields that are also evident at all angles in several areas around the obverse portrait. The devices are 100% sharp in strike, so there is no need to mention any softness here or there as we are sometimes obliged to do on certain other Proof dates in the series. Free of outwardly noticeable handling marks, too, this pleasing, dare we say handsome, and important Proof 63 is sure to spark strong bidder competition when it appears at auction. Pop 1; 5 finer, 4 in 64, 1 in 65 (PCGS # 88482) . Note: Two gold denominations, were Proof-only at Philadelphia in 1887, the Half Eagle and Double Eagle. Of all others, only the Eagle was minted in more than token amounts as a business strike. The date has become famous with Proof gold. Among With Motto Liberty Proof $5 gold pieces, it stands as the second most costly date in all grades, behind only the still-more-renowned 1875 (with 20 Proofs minted). Estimated Value $30,000 - 35,000. Ex: Stack's May 23-24 1974 Sale Lot 460; Ex: Rarcoa's Harley L Freeman May 13-15 1977 Sale Lot 413; Ex: Abner Kreisberg late 1970's The Del Valle Collection. View details and enlarged photos Check results on similar lots	Realized $47,000
Lot 1799		1888-S. VF-20. Light to moderate marks. Estimated Value $250 - 275. View details and enlarged photos	Realized $447
Lot 1800		1892-CC. Sharpness of XF, Polished. Estimated Value $250 - 275. View details and enlarged photos	Realized $588
Lot 1801		1897. NGC graded MS-64. CAC Approved. A nice frosty coin. Pop 282; 85 finer, 5 in 64+, 71 in 65, 1 in 65 Star, 8 in 66. (PCGS # 8394) . Estimated Value $1,000 - 1,100. View details and enlarged photos Check results on similar lots	Realized $1,234
Lot 1802		1899. NGC graded MS-64+. CAC Approved. Well struck and frosty. Lightly toned. A choice example (PCGS # 8398) . Estimated Value $1,000 - 1,200. View details and enlarged photos Check results on similar lots	Realized $1,058
Lot 1803		1900. NGC graded MS-64. Well struck, brilliant, and fully lustrous (PCGS # 8400) . Estimated Value $700 - 750. View details and enlarged photos Check results on similar lots	Realized $881
Lot 1804		1901/0-S. ANACS graded AU-58. Estimated Value $400 - 425. View details and enlarged photos	Realized $494
Lot 1805		1901-S. PCGS graded MS-66. An outstanding frosty mint gem exhibiting full mint bloom colors. Pop 49; 5 finer, 2 in 66+, 3 in 67 Collectors see gold coins and admire them for their beauty and value, but rarely suspect that behind the curtain, they played a key role in regulating commerce here in the United States and abroad. Whenever a currency crisis arose during the gold standard period in the 19th and early 20th century, gold coins (and their associated bullion bars that banks also held in reserve) were at once the object of desire. A whole litany of money market and associated stock and bond market panics popped up regularly following the disruption released by the Civil War: 1869, 1873, 1884, 1890, 1893, 1895-6, 1901, 1903, 1907, with the latter being the final nail in the coffin of unregulated markets. The 1907 so-called Rich Man�s Panic ended when powerful banking interests set in motion the process for forming the Federal Reserve system, a modern-day version of a banking cartel. The Federal reserve had been preceded by two earlier ones: the First Bank of the United States (1791-1811) and the Second Bank of the United States (1816-36). The Fed is with us today, although sadly, the only gold coins that are issued by the Treasury Department are for investment or hoarding purposes and not for currency backing. The 1901 Half Eagles from San Francisco just happen to be some of the most attractive gold pieces ever minted in the United States in terms of sharpness and fine gleaming rollicking golden luster. The Mint State 66 coin in this Lot is a particularly beautiful example of what we mean (PCGS # 8404) . Estimated Value $3,500 - 4,000. The Del Valle Collection. View details and enlarged photos Check results on similar lots	Realized $4,113
Lot 1806		1903. PCGS graded Proof 65+ Cameo. A glittering totally brilliant Gem Proof specimen with a natural coppery toning spot on the reverse at 10 o' clock. This is mentioned mainly for identification purposes. Only 154 Proofs minted. Bright and lustrous yellow gold with deep mirrors, lovely orange-peel ripple, and cameo motifs combining here in a strong array of entrancing beauty. (Beginning in 1902, the sunken parts of the dies were also polished by mint employees, and frosted cameos from this era are seldom available.) We heartily concur here that survivors from the Proof mintage for this date of 154 pieces are hard-pressed to equal the beauty of the present Proof 65 coin. Indeed this grading service has certified only two finer Proofs of the date. All things told, this prestigious gem is both exciting and enchanting when beheld in person, examined with an eye for detail, and we encourage all interested parties, even those who do not buy Proof Liberty gold, to enjoy a casual moment with this lovely gem. Pop 1; 2 finer in 67 (PCGS # 88498) . Estimated Value $25,000 - 28,000. Ex: Purchased from Abner Kreisberg in the 1970's The Del Valle Collection. View details and enlarged photos Check results on similar lots	Realized $32,900
Lot 1807		1904. PCGS graded Proof 65 Cameo. A glittering brilliant Gem Proof specimen with natural frosted raised devices. Only 136 Proofs minted. Struck as it was during the early years of the 20th century, the 1904 Liberty five might seem like one of the more abundant issues in the Proof Half Eagle series. This is to a certain extent true, but with only 50-75 coins known in all grades, the Proof 1904 might better be termed a legitimately rare coin when viewed in the wider framework of the numismatic market. It is also more difficult to locate than the Proof 1900, which was produced in greater numbers (230 pieces very scarce. 136 coins) due to an expected increase in collector sales for that turn-of-the-century delivery. This coin is one of the more impressive Proof 1904 Half Eagles known, and for two reasons. First, it possesses appreciable field-to-device contrast that PCGS deemed strong enough to warrant a Cameo title. Most Proof 1904 $5 gold pieces (indeed, most Proof Half Eagles struck from 1902 through 1907) were produced using all-brilliant proofing techniques. Second, the surfaces of this coin are virtually pristine and fully deserving of Gem 65 status. A razor-sharp strike and bright-gold color round out an extensive list of positive qualifications. Pop 4; 1 finer in 66 (PCGS # 88499) . Historic note: While this 1904 Half Eagle was making its debut, a debut of another sort was taking place: Edwin S. Porter's "The Great Train Robbery," the first well-known American film with a story line, was released to exhibitors in 1904. The 14-minute, single-reel film was also featured at the opening of the first modern movie theater a year later in Pittsburgh. Porter, working in the Edison laboratory, discovered the principle of editing. By piecing together films from the stockroom he had first made "The Life of an American Fireman," which was released in 1903 to a limited audience. Estimated Value $20,000 - 23,000. Ex: Purchased from Abner Kreisberg in the 1970's The Del Valle Collection. View details and enlarged photos Check results on similar lots	Realized $29,375
Lot 1808		1904. PCGS graded Proof 64 Cameo. A gorgeous Brilliant Proof gold coin. Only 136 struck. Viewers of this coin will see some satin-smooth mint frosting to Liberty's portrait on the obverse, but the cameo contrast is most readily appreciable on the reverse. Both sides are equally well detailed with original yellow-gold color, and there are no distracting striking anomalies or signs of contact. Jeff Garrett and Ron Guth concur with our educated guess as to survival of a total population of 50 to 75 coins. They note: "Most of the coins seen are deeply mirrored, and they lack the frosted devices seen on most of the examples struck before 1902." Only a few remain in Proof 64 Cameo. High-grade Proof half eagles are very rare, as noted in the attached census (see below), this, regardless of the date. You see, events have conspired, so to speak, to let this remarkable Liberty Half Eagle do pretty much as it likes with admirers of all things gold; a beautiful specimen that is both exciting and enthralling to the eye when beheld in person, and we would want to persuade all interested parties, even those who have only a passing curiosity about Proof gold, to examine what one can modestly describe as a resplendent 1904 $5 gold piece. Pop 14; 6 finer, 1 in 64+, 4 in 65, 1 in 66 (PCGS # 88499) . Note: Most issues of 1901-04 are not frosted as on earlier gold Proofs. Around 1901, the mint began selling Proofs to the public with "all brilliant" devices. No explanation has been handed down for the change, but it may have been in line with the growing French influence in coin finishes then sweeping Europe. (Our later Matte Proofs were a direct result of this Continental experimentation.) It may be that the few surving cameo specimens, such as this 1904 Liberty $5 gold piece, were early strikes from the new dies, before the frosted surface wore away to the more familiar reflective gleam seen on later strikes. Estimated Value $10,000 - 11,000. View details and enlarged photos Check results on similar lots	Unsold
Lot 1809		1904. NGC graded MS-64+. CAC Approved. PQ. Lovely golden toning. Pop 8; 75 finer at NGC. (PCGS # 8409) . Estimated Value $900 - 950. View details and enlarged photos Check results on similar lots	Realized $1,293
Lot 1810		1905-S. PCGS graded AU-53. (PCGS # 8412) . Estimated Value $300 - 325. View details and enlarged photos Check results on similar lots	Realized $400
Lot 1811		1906-D. PCGS graded MS-62. Lightly toned (PCGS # 8414) . Estimated Value $400 - 425. View details and enlarged photos Check results on similar lots	Realized $494
Lot 1812		1907-D. PCGS graded MS-62. A touch of light rose color toning appears on both sides (PCGS # 8417) . Estimated Value $400 - 425. View details and enlarged photos Check results on similar lots	Realized $470
Lot 1813		1907-D. NGC graded MS-61. Light hint of gold tone (PCGS # 8417) . Estimated Value $325 - 350. View details and enlarged photos Check results on similar lots	Realized $494