1902 Half Eagle - 1902 $5 PCGS PF58 CAC. This lightly circulated, rare 1902 Proof Half Eagle comes with a CAC sticker, which indicates that the coin is of premium quality and fully deserves the grade assigned. The surfaces are original and show abrasion marks more often associated with a business strike coin than a proof. However, there is still significant mint luster remaining within the devices and, of course, the strike is full, as expected for a proof coin.

Because Engraver William Kneass, suffering from a stroke, was unable to work, Mint Director Robert Patterson asked Assistant Engraver Christian Gobrecht to design a new half eagle that was uniform with the eagle of 1838. He used the coronet motif obverse and the heraldic eagle reverse.

Christian Gobrechts Coronet Heads, No Motto were minted from 1839 to 1866. There were two types of the design, the first with the mint mark on the obverse above the date and the second with the mint mark above the denomination on the reverse. Gobrecht modified the previous designs denomination, 5D. He replaced the numeral with the word FIVE. The design shows 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. 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.

The coinage act of 1865 specified that motto IN GOD WE TRUST should be added to all coins large enough to accommodate it. The Mint interpreted this law to mean that the motto had to be added to silver coins larger than the dime and gold half eagles, eagles and double eagles. James Longacre, who was now the Engraver, added the motto scroll to the reverse under STATES OF, creating Type 2 of this design.

Only 75 to 100 Proof 1902 Half Eagles are known in all grades. In its population report, PCGS shows 4 in PR58 condition with 23 better. As of August 2012, CAC has confirmed the present coin in PR58 with none better.