1859 Coronet Half Eagle, Proof-63 Cameo (PCGS)
Ex Farouk - Norweb - Bass

"Rarity" is a word that is often given too little respect. There are certainly hundreds of "rare coin" dealers without a rare coin to their name. And while 1909-S VDB Lincoln Cents, 1937-D Three Legged Buffalo Nickels, 1916-D Mercury Dimes and the like are often called rare, they are only relatively rare, or rare within the confines of their series. However, in the light of coins such as an 1859 Proof Half Eagle, these coins seem dirt common.

Walter Breen reports that 80 Proof Half Eagles were struck for 1859, a number that proved a bit ambitious, as nearly the entire mintage was eventually melted when the coins did not sell. In cataloguing the Norweb collection in 1987, Bowers and Merena estimated that as few as seven or eight 1859 Proof Half Eagles survived, including one in the Smithsonian Institution, one in the American Numismatic Society, and two in the Royal London Mint Collection. David Akers, in Part I of his catalogue of the John Jay Pittman Collection, hedges to the conservative side with a estimate of eight to ten coins extant, leaving room for the possible discovery of a few previously undocumented pieces. Either way, there is no doubt that 1859 Proof Half Eagles are great rarities, not just within a certain series, but in the context of the entire spectrum of American numismatics.

If there is one overriding characteristic of the coins from the Harry W. Bass Collection, it is their incredible visual appeal, regardless of grade. This 1859 Half Eagle, while technically graded Proof-63 due to some noticeable hairlines in the fields, is stunningly beautiful, with the "first look" of a higher grade. This Proof certainly qualifies as "Cameo", with intensely frosted devices set against deeply mirrored fields. Finally, the surfaces are a rich yellow-gold in color, and near fully brilliant, showing only a faint veil of natural haze.

To date, PCGS has certified only two 1859 Proof Half Eagles, this Proof-63 and an Impaired Proof-58.

Provenance:

• King Farouk of Egypt ("The Palace Collection of Egypt", Sotheby's 1954: Part of lot 254)
• Norweb Collection (Norweb I, Bowers and Merena 10/1987: Lot 858 @ $24,200 as Proof-63)
• Harry W. Bass, Jr. (Bass IV, Bowers and Merena 11/2000: Lot 473 @ $40,250)