1864 $5 (1864 Half Eagle) NGC PF68* Ultra Cameo. This Civil War gold 1864 Half Eagle is a superlative example of a Proof coin that has the highest designation for the date and denomination. Thick frost is found on the devices and lettering combined with pools of reflectivity shown by the deep mirror fields. The surfaces are virtually without distractions and are as perfect as can be obtained for this date. They are vibrant and fresh, as if the coin were struck yesterday. The devices, which are designated Ultra Cameo, are the most dramatic and desirable for a gold Proof coin. Only the earliest Proof strikes retain the most frost and best mirrors.

As more Proofs are struck, the contrast diminishes in vibrancy and intensity. This coin is the finest in existence for the date and type. It was obviously an early strike. The star designation indicates that NGC feels that the coin has exceptional eye appeal for their assigned grade.in the case of Proof coins, [there must be] especially strong cameo contrast. For the sake of accuracy and authenticity, a horizontal die scratch is noted below Libertys ear. This mark does not in any way detract from the grade of the piece. Without question this coin is an American classic. It is one of the very finest coins in existence for the type and one of the loveliest Proof gold coins one can obtain. The Civil War date adds to its significance and historical importance.

Christian Gobrecht designed the Coronet Head, No Motto half eagle, which was minted from 1839 to 1866. He modified the previous half eagles denomination, 5D. He replaced the numeral with the word FIVE. The design shows a profile of Liberty facing left, surrounded by thirteen stars, her hair tied with beads in a bun, wearing a coronet on which is inscribed LIBERTY. She also has two long loose curls, one on the back of her neck and one from behind her ear. Dentils are at the periphery of both sides of the coin. The reverse is the heraldic eagle design, which shows the eagle facing left with wings outstretched, holding olive branch and arrows in the correct claws with a Union shield attached to its chest. The legend UNITED STATES OF AMERICA surrounds the reverse with the denomination at the bottom. Dots precede and follow the denomination separating it from the legend.

Christian Gobrecht was the third Chief Engraver at Mint in Philadelphia. He was born in Hanover, Pennsylvania in 1785. His father, a German immigrant was a reverend. His mother, Elizabeth Sands was a descendent of the early settlers of Plymouth Colony. In 1818 Gobrecht married Mary Hewes. After an apprenticeship, he became an engraver of clockworks in Baltimore. Later, in Philadelphia, he joined a banknote engraving firm where he had an excellent job.

He invented a machine that enabled one to convert a three-dimensional medal into an illustration. Understandably, Gobrecht was reluctant to join the Mint staff. In order to persuade him to leave the engraving firm, Mint Director Patterson convinced Chief Engraver William Kneass, incapacitated by a stroke, to give up a significant part of his salary so more money would be available to hire the new employee. Gobrechts first work for the United States Mint was in 1826 when he made dies as an assistant to Kneass. When Kneass was unable to continue working because of the stroke, Gobrecht did all the die and pattern work. He was Chief Engraver from 1840 until his death in 1844. Famous for his Liberty Seated dollar obverse, which was used for all denominations of silver coinage, he was responsible for also designing the Liberty Head motif that was first used on the gold eagle, and then on the half cent, the cent, and the gold quarter and half eagles.

In 1859 the reverse was modified. Philadelphia coins of 1860 to 1865 are from a new hub, creating the Type 2 reverse. The eagles talons are shorter, smaller, and sharper. They also end farther from the arrows or the branch than the previous reverse. Type 1 reverses continued in use for the branch mints.

During the War years, mintages of Proof coins fell because of the difficulty of obtaining them from the Mint. Production of most silver and gold issues was low in Philadelphia because coins were no longer used in commerce. Many dies made during the Civil War at the Philadelphia Mint were not finished, leaving small parallel die lines on their faces. As a result, often coins of the era show these die lines in the fields.

From 1839 to 1858 Proof half eagle coins were not manufactured. In 1859 a small Proof mintage was made. In all, 348 Proof coins were struck for the years 1859 to 1865. There were 206 Proof half eagles struck during the Civil War. Obviously all of them are exceedingly rare. The Mint realized that it was futile to strike a larger number of Proofs and then melt them at the end of the year because of the lack of demand. Even with the mintages reduced, it is uncertain that all were sold. In 1864, there were 50 Proofs made. Only 18 to 22 are known today. In its population report PCGS has certified 15 in all grades with none higher than PF66. In NGCs population report there are 16 Proofs graded with only the present coin at PF68* UCAM. The next highest grade is PF66* UCAM. These numbers do not account for resubmissions and crossovers.