 1836 O.116 (Rarity-7+ as Proof). 50/00 CENTS. Choice Brilliant Proof, perhaps a bit better. Toned with gorgeous delicate golden-russet over silver surfaces, well matched on the reverse. This coin is clearly a Proof example as the depth of the fields and frosted devices deeply contrast. The surfaces have a few minor hairlines. Outstanding eye appeal for an early Proof, and a consummate rarity in any Proof grade.
It appears that just five examples of this variety have survived, the present example and the Noblet/Lathrop coin approximately equal in grade, exceeded by the Eliasberg Superb Gem Brilliant Proof as the finest and the recent offering of our Northern Bay specimen in May of this year. Breen mentions one is impaired as the probable fifth example. Unlike the later Restrike issues of 1834-36, the present coin has bold edge lettering with no doubling as found on the Noblet/Lathrop coin. An extraordinary opportunity for the specialist to obtain several Capped Bust Half Dollars in Proof, not to mention several others of great importance for this superb collection.
The Condition Census is as follows:
1) Finest reported, NGC PR67 ANA Sale (Superior, March, 2001, lot 284 at $46,000); Louis E. Eliasberg Collection (Bowers and Merena/Stack's, April 1997, lot 1906 at $39,600).
2) Very Choice Proof. The Northern Bay Collection (Stack's, May 2006, lot 4323).
3) Choice Proof. The Present Specimen. Hain-Americana Sale (Stack's, January 2002, lot 1433); ANA Sale New York (Heritage, July 1997, lot 6353); Carmichael Sale (Superior, 1986); Lester Merkin's Auction, September 1967, lot 256; Empire Coin Company; S. W. Freeman (Kreisberg-Schulman, May 1958, lot 1655). Identifiable by a minute planchet speck just below the middle pair of olive leaves, this shows on the Breen Proof Encyclopedia and confirms the Merkin '67 pedigree.
4) PCGS PR63. The Noblet Coin. Noblet Rarities Chicago (Bowers and Merena, January 1999, lot 1136); Reed Hawn Collection (Stack's, December 1973); Landau Collection (New Netherlands #52, December 1958, lot 565); Lathrop Collection (New Netherlands #45, April 1955, lot 795).
5) Impaired Proof. Breen Specimen. Reported in Walter Breen's Proof Encyclopedia as a coin he owned in 1956, not seen.
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