Lot 1541
1869 $5 Liberty. NGC graded Proof 65 Star Cameo PQ. Only 25 proofs minted. A wonderful coin. A well struck, orange-gold example of this extremely rare issue, with no apparent areas of weakness. This remarkable coin is labeled Star Cameo by NGC, and appears to fully merit this rating. Liberty's portrait, the obverse stars, and the eagle and reverse legends all exhibit mint frost that sets off against the smooth, glassy "orange peel" fields. The 1869 half eagle is considered an exceptionally rare date in Proof. In fact, business strikes with a mintage of only 1,760 pieces are also extremely rare and highly elusive. Only 25 Proofs were made. The present piece is the single finest Star Cameo certified by the service. Those collectors who have the resources to collect Proof Liberty half eagles know that many years may elapse before a comparable 1869 specimen appears on the market. If ever. Pop 1; none finer at NGC. The Finest Known (PCGS # 88464) .
After the dies are hubbed and the date is applied, the Proof die for gold coins is given multiple polishes with progressively finer and finer polish. The last polish given to the dies prior to being hardened gives the field a surface quite like a mirror. This is the deepest mirror attainable on the dies. When the die is hardened in the next step, the metal shrinks slightly creating a wavy effect on the polished surfaces. It looks somewhat like the surface of an orange. When you see orange peel on a Proof issue you can be certain that it is one of the first examples struck from those dies. Later polishing to the already hardened dies will produce a flatter and shallower mirror.
Estimated Value $50,000 - 60,000.
Ex: Eliasberg Collection.
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| Realized $63,250 |
