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Heritage World Coin Auctions
FUN Signature US Coin Sale 1251  4-6 & 8-9 Jan 2017
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Lot 5665

Starting price: 1 USD
Price realized: 55 000 USD
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Proof Seated Half Dollars
1860-O/O 50C Type Two Reverse, WB-105, Die Pair 9, R.8 as a Specimen Strike, SP64 NGC. In years past, this piece might have been called a branch mint proof, since it certainly has the visual characteristics of a proof or Specimen strike. The fields are deeply reflective and glassy-smooth, and the motifs are extra-sharp as if struck with multiple impressions. The dentils are perfectly formed and surrounded by high, square rims. The surfaces display a faint dusting of tan-gold toning, while the raised devices are frosted and extremely sharp, providing bold contrast with the reflective fields. A few light handling marks exist including a pair of microscopic nicks on the neck, accounting for the near-Gem numeric grade.
Assigned the SP64 grade by NGC, this is the sole 1860-O half to be designated as a Specimen strike. No proof half dollars are shown at PCGS for the issue, nor do we find a mention of others in any of the references. Clearly, the coin was struck from the WB-9 dies, a variety that features the only use of the obverse die and the first use of the reverse die. All of the die markers are present, including weakness at the foot support always seen on the die pair. A small die line in the recessed area of the shield above Y in LIBERTY exists, but no sign of die clashing as described by the Bugert reference -- suggesting an early use of the dies. Likewise, the drapery folds are full beneath the elbow, rather than "partial" as listed in the reference. The mintmark is clearly repunched at the upper-left inner curve. The Bugert monograph states that all examples seen have die cracks along the top of TES in STATES and MERICA of AMERICA, and they are faintly visible on the present coin. Two other New Orleans issues have known Specimen strike examples including the 1854-O and the 1861-O. We expect spirited competition for this outstanding piece when the lot is called. Census: 1 in SP64, 0 finer (11/16).
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