1860 Liberty Head Half Eagle. Proof-65 Cameo (NGC).This is a beautiful Cameo Proof 1860 half eagle, a leading rarity in the Proof Liberty Head half eagle series. Both sides are fully struck, and the satiny devices appear to float atop the reflective fields. Vivid golden yellow patina is seen on surfaces that are overall smooth, visually appealing, and nicely graded at the Gem level.The 1860 is only the second Proof half eagle for which the U.S. Mint recorded the number of examples struck. The mintage is extremely small -- just 62 coins -- the majority of which never left the Mint. According to recent research by numismatic scholar John W. Dannreuther, the Mint began charging a surcharge for Proof gold coinage in 1860, the sale price of a six-piece gold Proof set that year was $43 for coins that totaled $41.50 in face value. As trivial as it may seem today, the additional $1.50 (25 cents per coin) represented a significant increase in cost for contemporary numismatists, and sales were correspondingly depressed. Most numismatic sources are in agreement that fewer than 15 Proof 1860 half eagles are extant in all grades, perhaps as few as 10 coins. The number of examples available for private ownership is even fewer since two of the known survivors are permanently impounded in the collections of the Smithsonian Institution and American Numismatic Society. The Gem Cameo Proof we offer here is one of the finest certified, and it carries a memorable provenance that includes the collections of James Ten Eyck, Louis E. Eliasberg, Sr. and Ed Trompeter. This is a highlight of the present sale that would enhance even the finest cabinet.Ex B. Max Mehls sale of the James Ten Eyck Collection, May 1922, lot 226; John H. Clapp; Clapp estate, 1942; Louis E. Eliasberg, Sr.; our (Bowers and Ruddys) sale of the United States Gold Coin Collection (Eliasberg), October 1982, lot 496; Ed Trompeter; Heritage Auctions, circa 1998; private collection; Heritages sale of the Ed Trompeter Collection of Proof $5 Liberties, August 2015, lot 4350.
