1851 San Francisco Standard Mint pattern $5. K-1. Rarity-7+. Nickel alloy. MS-61 (NGC).The medium gray patination gives way to some areas of darker toning towards the edges and surrounding the devices, with some lighter areas with wisps of gold and blue. Struck from a heavily rusted obverse die and a reverse die with smooth reflective surfaces and some minor traces of die rust in the wreath. Very little is known about this extremely rare pattern. The truncation of Libertys neck bears the tiny initials WJT, which are thought to be those of William J. Taylor, an English medalist from Birmingham who also is known to have produced some of the backdated 1783 Washington tokens in the 1820s. Only the $5 denomination was prepared, and it is not known what the intent may have been, as a private venture or some sort of fanciful attempt at a proposal for an official coin. It appears to have first turned up at auction as early as 1864. What is certain is that these are of the highest rarity; approximately six are presently known in a wide range of grades, plus a uniface reverse strike that was also part of the Clifford holdings. The present specimen also serves as the Kagin plate coin and is among the finer examples so far known. An intriguing if mysterious issue worthy of more research.From the Samuel J. Berngard Collection. From our Chicago ANA sale, August 2013, lot 44178. Earlier from our (Bowers and Ruddys) sale of the Henry H. Clifford Collection, March 1982, lot 95. Obtained from New Netherlands Coin Company, 1957.
