1866 5C J-521 PR(PCGS#60718)

Spring 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3245

Grade

PR62

Price

26,400

Lot Description

<strong>Obv:</strong> A bust of Washington faces right with the date 1866 below and the legend UNITED STATES OF AMERICA around the border. <strong>Rev:</strong> Similar to the obverse, a bust of Washington faces right with the date 1866 below but, instead of the legend, the motto IN GOD WE TRUST is inscribed along the upper border. It should be noted here that PCGS has mounted this coin with the IN GOD WE TRUST side as the obverse; our description follows the obverse-reverse orientation for this Judd number provided in all of the standard numismatic references. Fully struck with dominant delicate silver gray patina, subtle iridescent rose highlights are largely confined to the reverse. An area of minor damage on the rim below the date on the reverse explains the Proof-62 numeric grade from PCGS, but also serves as a useful provenance marker for this extraordinarily rare specimen.<p>According to traditional numismatic wisdom, Judd-521 is a muling of two obverses struck outside the Mint using dies that Joseph J. Mickley purchased as scrap metal. Much of this remains unquestioned, although modern researchers have shown that the association of Mickley with this type stands on less solid ground. For one thing, these dies were not included among those seized at the Mickley sale. Writing in the May 1998 edition of <em>The Numismatist</em> Dr. George Fuld also relates that, while the dies were donated to the Boston Numismatic Society sometime between 1869 and 1878, whether or not they came from Mickley is unknown. Since the dies were not destroyed until 1956, ample time existed for them to find their way into the hands of someone else with an interest in making these fantasy mulings. One such candidate is Sylvester S. Crosby, who had close ties to the Boston Numismatic Society, and in whose collection an example was included when sold by Captain John W. Haseltine in June 1883.<p>Regardless of who is responsible for its creation, Judd-521 is a major rarity with obviously very few examples produced. The <em>uspatterns.com</em> website accounts for only two or three silver strikings of this muling, along with two or three in nickel (Judd-521A), three in copper (Judd-522), and unique specimens in brass and white metal (Judd-523 and 524, respectively). The only other positively confirmed silver example last sold in our February 2014 Americana Sale (lot 2117, as PCGS Proof-61). Appealing to advanced pattern collectors as well as Washingtoniana enthusiasts, this type has broad appeal that will result in strong competition for the present offering.