VERY RARE CAC APPROVED PCGS PR63+ 1881 HALF EAGLE

After I bought this coin at the 2016 ANA while wandering in the foreign coin section, I offered it to Mr. Stout with a message that read in part: “Here’s a nice example of a date nobody else realizes is so rare as a Proof.” John Dannreuther estimates that between 16 and 20 are known, but based on personal observation and lack of recent auction sales, I believe that the proper number is as low as 11 to 13.

This piece was struck in an all-brilliant finish which is typical of 1881 Proof half eagles. I have never seen a true Deep Cameo example, and even the unquestioned finest known—graded PCGS PR67CAM—shows less contrast than other Proof half eagles from this era. There is a mint-made patch of lines (very tiny) on the chin of Liberty which limits the grade of this bright, reflective example.

In the last 20 years only two Proof 1881 half eagles graded by PCGS have sold at auction: a chattery PR61CAM in 2018 (at $11,456) and a Gem PR65+CAM that brought $52,800.

Arguably, the best deal in this remarkable group of Proof Liberty Head half eagles

CAC has approved a total of six in all grades. Five are CAM designated with the best a pair in PR67CAM.

Ex Stout Collection and from DWN via private treaty, 9/2016.

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