Lot 2130
1862. NGC graded Proof 65 Ultra Cameo. Only 35 proofs struck. Fully struck, satin-textured devices appear to float atop illimitable depth of mirror gloss in the fields. Both sides possess homogeneous yellow-gold color that appears to "go infinite" in the fields as one turns the coin away from straight-on light. There is neither blemish nor spotting present, while the Gem designation from NGC is flattering and justified. We go could here and there with the description, but the extraordinary technical quality and eye appeal in a Proof No Motto Half Eagle like this, puts it among the finest known of a handful of survivors from the 1862 delivery.
With the Civil War dragging on into its second year, the United States Mint did probably wasn't surprised to see weak collector demand for Proof gold in 1862. Reason won out and the reduced mintage of this denomination from 66 pieces in 1861 to a mere 35 coins the following year expresses the trauma the War caused on confidence in the public at large. Even the latter total proved optimistic, with some coins melted as unsold before the start of 1863. The Proof 1862 Half Eagle, therefore, is an exceptionally rare coin, one we believe will give it an advantage over other similar quality Proof gold dates sold this year.
The Philadelphia Mint started striking Proof No Motto Liberty Eagles the same year that it delivered the first business strikes of this type. The issues from 1839-1858 are exceedingly rare, and not all dates from this era are known in Proof format. The balance of the No Motto issues from 1862-65 are exceedingly rare with very few offered in any calendar year. Pop 1; 1 finer in 66UCAM .
Estimated Value $70,000 - 80,000.
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