1887 $5 PR(PCGS#8482)

August 2020 U.S. Coins Auction

Auctioneer

Stack's Bowers

Lot Number

1477

Grade

PR55

Price

24,000

Lot Description

Rare and Eagerly Sought Proof-Only 1887 Half Eagle 1887 Liberty Head Half Eagle. JD-1, the only known dies. Rarity-5. Proof-55 (PCGS). CAC. Offered is a handsome and inviting example of a fabled key date entry in the classic U.S. gold coin series. Warmly patinated honey-orange surfaces retain much of the original reflectivity in the fields, a feature best appreciated with the aid of direct lighting. Sharply defined throughout, as well, with mostly wispy handling marks separating this piece from a grade at or above the Proof-60 level. The Philadelphia Mint struck only 87 Proof half eagles in 1887 from a single die pair for distribution to collectors. What is extraordinary is the fact that that facility did not coin any half eagles for circulation that year, thereby creating a Proof-only issue from this mint. The most current research by John W. Dannreuther (2018) suggests that only 35 to 45 examples remain in all grades, a surprising number of which show signs of minor handling, as here. Even so, demand has always been higher for this date than others, as a Proof example is the only option for those collectors seeking to complete a date and mint set of the challenging Liberty Head half eagle series. PCGS# 8482. NGC ID: 28CR. Click here for certification details from PCGS.