284
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$5 Gold
T
HE
F
INEST
G
RADED
1893 $5 L
IBERTY
P
ROOF
Enlargement
1854
1893
.
NGC graded Proof 68 Ultra Cameo
. Lovely rich golden toning. Only 77 minted. A spectacular 1893-dated Liberty Five. The Jeff
Garrett and Ron Guth researchers mention in their Encyclopedia of U.S. Gold Coins, 1795-1933, "the major grading services combined have
graded more pieces than were minted," suggesting a rather sizeable number of resubmissions. From this mintage, the authors suggest that
the "true rarity [read: population] of the 1893 Half Eagle is just 25 to 30 coins." Their auction records seem to support this assertion, having
traced very few reported sales over the last 15 or 20 years.
That said, this is an incredible and beautiful and rare survivor from an absolutely rare production, as the 25 or so known examples represent
a scanty figure by any measure. By far, it is the Finest Reported, and presumably, the Finest Known. Our present offering ranks at the very
pinnacle of this census, a post it shares with no other representative. Even a casual glance at this piece confirms the grade, more than ever
when one examines the surfaces, fine details and mirror fields. Fully brilliant and deeply mirrored, the fields offer a wonderful orange-peel
effect that lends an exquisite allure to this fantastic Gem. Deeply entrenched within a marvelous orange-gold patina, we note devices and leg-
ends possessed of razor-sharp definition, crisp golden frost. No impediments can be found on either sides, which confirms the accuracy.
Pop
1; none finer at NGC
.
How does the lovely Orange Peel finish on gold Proofs arise? After the dies are hubbed and the date is applied, the die is given multiple pol-
ishes 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, 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 sure 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 ..........................................................................................................................................................$90,000 - 100,000
G
EM
U
NC
1893-S $5 L
IBERTY
1855
1893-S
.
NGC graded MS-65
. Boldly struck and untoned.
A lustrous Gem that has beaming gold color that shoots out
streaks of light and a substantial bold strike. With such gor-
geous luster, it confirms the grade that the coin is struck
with mathematical precision by the dies in all areas such as
the stars, Liberty’s hair and coronet, and the eagle with
shield. Although it can hardly be categorized as scarce in
lower Mint State grades, the ’93-S $5 gold emerges as an
especially elusive issue in Gem or better condition, per the
most recent census:
Pop 5; none finer at NGC
. (
PCGS
# 8386
)
Estimated Value ........................................ $5,000 - 5,500
1856
1895-S
.
PCGS graded MS-61
. A nice mostly untoned exam-
ple. Frosty fields rise and fall with original golden mint bloom.
Against this are set serious, frosty design elements with some
light surface marks as expected. Deficiency isn't in the cards
when it comes to this coin's detail, however, outstanding is the
word to describe the striking detail on the stars, legends, Lib-
erty and the eagle. Choice rims, too.
Pop 5; 11 finer, 5 in 62,
4 in 63, 1 in 64, 1 in 66
. (
PCGS # 8391
)
Estimated Value ..............................................$2,500 - 2,600
1857
1897
.
PCGS graded MS-65
. Frosty and untoned. Uncom-
monly smooth for the issue, this frosty textured fresh Gem BU
example from 1897 displays bright reddish-old surface. Desir-
able with this bold strike.
Pop 24; 5 finer, 3 in 65+, 2 in 66
.
(
PCGS # 8394
)
Estimated Value ..............................................$2,600 - 2,700
