1887 $5 Liberty Half Eagle, PCGS PR65 CAC. This coin was just recently featured in a Coin Television video at the Long Beach show. If you’ve got 3 minutes, take a look here!
These are the points covered:
- This coin was last seen in the Dunham Collection, sold by numismatist B. Max Mehl in June of 1941 as lot #2166-!!! It realized $200 at the time.
- The 1887 is a very important issue as it was only struck in Proof during this year, there are NO business strike half eagles.
- According to Mint records, only 87 coins were originally issued.
- PCGS and NGC show a total of 38 examples certified, and most experts would agree this number includes resubmissions where the insert was never turned in. Those totals include pieces that range from PR53 to PR65+, including 18 Cameo examples and 6 Ultra Cameo specimens. The average grade of all 38 certification events is just 62+ (62.6).
- This specimen is tied for the highest graded CAC endorsed example currently known.
- The 1887 half eagle attracts attention not only from Proof gold enthusiasts but also from date collectors seeking this classic rarity in the Liberty half eagle series.
- Even the few impaired (or spent examples we know of) fetch upwards of $30,000 each!
- The other four (4) “proof only” gold regular issue denominations are all infamous rarities, and include the 1863 $2.50 Liberty and the $20 Liberty struck in the years of 1883, 1884 and 1887. These coins generally bring multiples over the the more commonly encountered proof issues! (The $4 Stella issues are recognized as proof-only but are technically patterns).
- 1887 saw the beginning of construction on the Eiffel Tower, Thomas Edison patents the kinetoscope (the first moving motion pictures), and of great importance to me, Rowell Hodge patents the barbed wire, which made western ranching and farming significantly easier.