1849/1849 $5 Liberty No Motto NGC MS62 VP-002 – only 2 graded!

$12,000

Description

1849/1849 $5 Liberty No Motto NGC MS62 VP-002. Overdates and errors in U.S. coinage have always been popular with collectors, from the very beginning varieties of copper coins all the way through the 21st century. Most overdates and errors have been discovered and are adequately documented. Walter Breen, in his Encyclopedia of U.S. and Colonial Coins, published in 1988, lists hundreds of different overdates and errors. For the year 1849, there are two popular overdate varieties, both declared as “Extremely Rare” by Breen. There is a doubled “49” (49/49, Breen 6582) and then there is a doubled “1849” issue (1849/1849, Breen 6583).
As it turns out, NGC has certified over forty (43) of the doubled 49’s, but ONLY TWO coins have been certified as doubled 1849! These is the present coin, a lovely MS62, and an AU55.
This is a very significant opportunity to the advanced gold coin collector to not only add a Mint State No Motto Liberty Half Eagle to his/her collection, but to include something special; something unique. This is just such a coin. It has the 1849/1849 on the insert, with the technical variety of VP-002 appearing also. The coin has striking banana-yellow surfaces with superlative mint luster. Only a few tiny marks keep this out of the Choice to Gem condition – those mostly noticeable are on the cheek and neck of Liberty. If graded by itself, the reverse would most certainly be MS64 with some considering it to be of Gem quality.
Out of an original mintage of 340,330, a mere 30 examples have graded MS60 or better. Of the regular non-overdate issue, there are only 5 known in NGC MS62 with 1 finer. We know one of these MS62s was from the shipwreck S.S. New York, and that coin traded privately for over $20,000 within the past 90 days. Nearly 20 years ago, in 1998, one of the three graded “49/49” varieties sold for $10,637. Now, nineteen years later, this nearly unique 1849/1849 is worth…
wow.