1859-S Liberty Head Half Eagle. MS-63 (PCGS). CAC. This extraordinary coin is one of the most significant offerings from the Hendricks Set. It is a remarkable Choice Mint State 1859-S half eagle that delivers exceptional technical quality and strong eye appeal. Fully original, both sides exhibit warm pinkish-honey color. The luster is richly frosted throughout, and the strike is sharp apart from some characteristic (for the type) softness to the central high points. There are no singularly distracting marks, and certainly none that would affect the highly significant MS-63 grade from PCGS.<p>When it comes to extant examples rarity is the order of the day for this early San Francisco Mint gold issue. The mintage is just 13,220 pieces, virtually all of which rapidly entered commercial channels in the gold- and silver-intensive economy of the American West. Fewer than 100 examples survived the rigors of circulation (per <em>PCGS CoinFacts</em>), the vast majority of which are well worn, if not also impaired. Mint State survivors are exceedingly rare, not surprisingly since there was absolutely no contemporary numismatic interest in mintmarked coinage, and especially not on the West Coast. Even the National Numismatic Collection in the Smithsonian Institution has just an AU-50 for this conditionally challenged issue.<p>Writing in the 2008 edition of their <em>Encyclopedia of U.S. Gold Coins: 1795-1933</em>, Jeff Garrett and Ron Guth observe that, "Mint State 1859-S half eagles have appeared at auction three times in the last 20 years -- unfortunately, these appearances all represent the same coin." The example to which the authors refer is the Milas-Bass specimen, currently certified MS-62 by PCGS and the former holder of the title of finest known 1859-S half eagle. (PCGS has certified a second MS-62 for this issue in recent years that appeared as lot 5266 in Heritages April 2012 CSNS Signature Auction. The Bass specimen is finer in your catalogers opinion.) The appearance of the Fairmont-Hendricks specimen has ended the reign of the Milas-Bass coin, for it is now the single finest certified, as well as the only Choice Mint State 1859-S half eagle, known. Beautiful in all regards, and with CAC approval adding further significance, this piece is destined for another world class cabinet of Liberty Head gold coinage. From the Fairmont Collection-Hendricks Set.
