This is the single finest proof 1867 half dollar certified by either NGC or PCGS. While NGC has certified three pieces at the PR67 grade level, only this one has received the Ultra Cameo designation. In fact, this is the only proof 1867 half dollar to receive such a designation in any grade! Similarly, a PR66 Deep Cameo piece is the only coin given such a designation by PCGS. For the collector who desires the finest possible quality, this is a most important opportunity. We believe that this piece is the single finest proof 1867 half dollar that still exists today.

Both sides of this Superb Gem proof have deeply mirrored fields with fully lustrous and frosty devices, appearing as if someone carefully painted the devices with white, but of course this appearance is strictly the result of production from fresh dies with polished fields and unpolished design elements. Careful examination reveals evidence of a specially prepared planchet, highly polished in preparation for the careful production required to produce proof coins. The centers on each side are full brilliant with rich gold, lilac, and sky-blue toning near the borders and encroaching only slightly upon the stars and letters.

Little is known about the proof half dollars of this date. The original mintage was 625 coins, and it is probably the case that most or all of those pieces were actually distributed. A survival rate of 40% to 50% is a good general rule, indicating that 250 to 300 proofs still exist today. Walter Breen reported With Drapery and No Drapery variations for these coins. Those lacking the drapery at Liberty's elbow represent later die states after the coinage dies had been lapped or resurfaced. Census: 1 in 67 Ultra Cameo, 0 finer (1/07).

To be sold in the 2007 Charlotte, NC Heritage Signature Coin Auction #432 Lot #833

Additional Background on the Type:

The Act of March 3, 1865 mandated the addition of the motto IN GOD WE TRUST to all silver coins above the dime and all gold coins above the three-dollar denomination. Christian Gobrecht's Seated Liberty design, in use on the half dollar since 1839, depicted Liberty seated on a rock and surrounded by thirteen stars, with a reverse featuring a spread-winged eagle.

Of special interest to pattern collectors are the so-called "transitional" proofs. Although dated 1863, 1864 and 1865, these coins have the reverse motto as adopted in 1866. It is now believed that most of these, along with the unique "fantasy piece" 1866 No Motto half, were struck around 1868 under the direction of Mint Director Henry Linderman for the famous pattern collector and Mint "insider," Philadelphia pharmacist Robert Coulton Davis.