Probably the finest known for the die marriage and by a large margin. — W. David PerkinsPedigreed to our sale of May 1951, this miraculous gem is the discovery coin for what became known as Browning-5, a combination not known to Browning in his 1925 book, and rarely found better than Very Fine. This is the single finest known specimen, the prettiest as well, with lightly reflective surfaces swimming in marvelous satiny luster. The toning is bold enough to defy a description that will match it, with rose and gold centers barely passing through magenta on their way to concentric circles of light blue and champagne gold. The strike is somewhat soft on the drapery clasp and some of the upper tresses of Libertys hair, typical of this die marriage, as is the slight softness on the eagles head. The obverse fields are nearly immaculate, while the reverse shows a light abrasion on the eagles head and two minor hairline scratches elsewhere in the vicinity. The obverse die shows some spalling, or chipping of the die surface, between stars 2 and 3 and in the field next to them, also seen in the Browning-4. The reverse is clashed, an accident that befell it while married to 1821 obverse 2 (1821 Browning-4), and shows a crack through E of UNITED. This variety is an example of a remarriage, two dies that were once paired, then paired with other dies, before coming back to their original combination at a later die state.This precise specimen allowed Walter Breen to first identify this variety in 1951, at which time it was offered as part of a consignment from the J.H. South Collection. W. David Perkins has suggested that the J.H. South name was actually a pseudonym used for consignments coming from Wayte Raymond, who was then dispersing coins remaining from the Waldo C. Newcomer and Col. E.H.R. Green collections. Attributed incorrectly as a Browning-4 in the 1951 auction, it was further described as an uncirculated gem. Bought as a proof. Sharp edges. Very scarce. While the obverse of the Browning-5 is the same as that found on Browning-4, the reverse is actually that of Browning-2, which the eagle-eyed Walter Breen spotted though no one else did. Today, fewer than 30 specimens of Browning-5 have been identified in all grades, most of them lower than Very Fine. The second finest is the Pittman coin, graded About Uncirculated in the 1998 Pittman sale, though it has recently been certified as MS-62 by NGC. There are no other gem specimens. Of course, there is also but one discovery specimen.
