Lot 1324
1866 Pattern Five Cents. Lead, plain edge. Judd-520. Pollock-547. Rarity 8. PCGS graded Proof 60. Struck in lead. Uniformly toned deep slate gray verging on charcoal with some lighter areas. Low magnification reveals some scattered marks and some natural planchet roughness, as struck, though no actual wear is indicated. Heavily cracked reverse die, diagnostic for this rarity. A unique opportunity for the Pattern specialist to acquire a coin of extreme rarity, one whose historical importance cannot be overemphasized. In an old green label holder. Pop 1; none better. The only example graded at either service (PCGS # 60717) .
The uspatterns.com website notes the following about this intriguing pattern issue: "Washington obverse with UNITED STATES OF AMERICA combined with the regular without rays reverse as used from 1867 onward. This muling is believed to have been struck outside the mint from dies sold as scrap metal which was purchased by Joseph Mickley. Many of these coins ended up in the Crosby collection. It is not known if Mickley or Crosby was the actual minter of these coins." In actuality, it is very difficult to find any documentation that either Mickley or Crosby personally restruck anything, and the same can be said for Charles I. Bushnell and the popular attribution of restrikes to him." The site goes on to note that just three examples are known in lead, all struck from a heavily cracked reverse die.
Estimated Value $35,000 - 38,000.
Previously in Heritage 8/96:5011, $3,520; ex Auction '89:1848.
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