Price: 6,700.00 - SOLD - 6/07/2012* Free Shipping and Insurance for coins at $10K or above.
1911 Eagle - 1911 $10 NGC Proof. This sharp-looking 1911 proof half eagle has slight obverse damage. It consists of a light scuff mark hidden in the Indians bonnet. The dark matte proof surfaces have a fine grain and are pristine aside from a small scratch below Star 7. No wear or contact marks are found on the piece which no doubt would have graded PF64+ and could make an excellent type coin.
Early in 1908, Dr. William Bigelow, a friend of President Theodore Roosevelt, convinced the president that the quarter and half eagles should be made with the relief reversed. He felt that if the devices were below the field, they would be protected. Roosevelt agreed so Bigelow then persuaded Bela Lyon Pratt, the Boston sculptor and student of the late Augustus Saint-Gaudens, to submit designs for the new coinage.
For the obverse, Pratt created a realistic head of an Indian brave in profile looking to the left. Choosing this figure is in keeping with the Mint Act of 1792, which calls for a design emblematic of Liberty. Pratts model was not named and his tribe is unknown. Above his head is the word LIBERTY and below is the date. At the left rim, starting at the truncation is an arc of six stars. Seven are on the right side of the coin.
The reverse is reminiscent of Saint-Gaudens eagle. A majestic standing eagle looks left. Below it are arrows and an olive branch. Above in an arc near the edge are the words UNITED STATES OF AMERICA separated by round dots. The denomination, FIVE DOLLARS, with dot between, is below. IN GOD WE TRUST is behind the eagle and E PLURIBUS UNUM is in front of it.
As soon as they were issued, objections were made to the new design. It was said that the incused features would retain dirt and the coins would be unsanitary. They were also too easily counterfeited and couldnt be stacked, and the design was not natural. Despite these objections, the coin remained in use until 1929.
The half eagle proof coins of 1908-15 are considerably rarer than are the Gobrecht half eagles of the previous decade. For the Mint, this was a time of experimentation. Not only was this the first United States coin to have an incused design, the Mint also experimented with proof finishes. Three different ones are used on these proofs matte, sand blast, and satin or Roman Finish. Many business strikes are seen with simulated surfaces; although, these lack the sharpness of a true proof coin. Based on existing populations, it is clear that much of the proof coinage was not saved and those that were are rare. It is also likely that many were turned in 1934 during the Great Recall.
The proof half eagle mintage for 1911 was 139. All are rare in any condition. In its population reports NGC shows 58 for this issue and PGCS has 32. These numbers do not account for crossovers or resubmissions.
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