1860-S $5 Liberty Head Half Eagle NGC AU58

This offering from AUCM is a rare and seldom-seen issue, especially so in high grade. And high grade for the 1860-S is AU58. NGC has graded 7 examples as AU58, with none finer. Collectors Universe gives this rare issue a price of $27,500.00 in AU58.

PCGS has awarded the grade of AU58 to four specimens, with two in mint state, the finest of which is a single MS62. The origin of that piece is the famed Harry W. Bass, Jr. Collection. The small mintage of 21,200 makes the 1860-S Liberty half eagle an elusive issue in all grades today. Both grading services report that there are less than 100 pieces known today. This Choice AU coin is a pleasing golden yellow example with very light rub and chatter typical for the grade.

There are two important reasons why this issue is so rare today. As with all gold coins emanating from the San Francisco Mint, this issue circulated heavily. Additionally, the onset of the Civil War in 1861 saw gold half eagles and other coins disappear from circulation, as they were hoarded due to the uncertainty of the final result of the War. Overall, the hoarding of gold coins lasted well in the 1870s.