Rare American Gold Patterns Consigned to Heritage's Chicago ANA Sale

Dallas, Texas: A pair of fabulously rare United States gold patterns - one of them, unique - have been consigned to the Heritage Signature Sale being held at the 1999 Chicago ANA Convention, August 11-13. Both patterns came out of the legendary King Farouk Sale in 1954, and were consigned by a private overseas client.

The 1868 eagle ($10) gold pattern (Judd-661, Pollock-734), is one of only four specimens known to exist that were struck in gold. The obverse features a bust of Liberty facing left and wearing a beaded Coronet, a portrait bearing a striking similarity to James B. Longacre's three cent nickel design. This has been reported to be the final work of this well-known 19th century engraver before his death in 1869. Outlining the bust are thirteen stars and below is the date.

Featured on the reverse of the 1868 eagle pattern is a small eagle with upraised, perched wings and a scroll above reading IN GOD WE TRUST. The peripheral legend UNITED STATES OF AMERICA and the denomination (TEN D.) encircle these features on the reverse, which Tom DeLorey and Andrew Pollock credit to Anthony Paquet due to the artistic style of the eagle. However, the design is nearly identical to the reverse of Judd-271, a thin planchet half eagle pattern that, like the Judd-661, has long been credited to Longacre. The new owner of this rarity will be sure to research this topic further. The pattern has a reeded edge, like the production issue eagles.

The standard pattern reference books, Judd's United States Pattern, Experimental and Trial Pieces, and Pollock's United States Patterns and Related Issues both describe the Farouk specimen as being scratched. David Akers, in his United States Gold Patterns, is silent on the question of scratches, but does mention that the whereabouts of the Farouk specimen is unknown. Considering that this pattern has now been graded as a Proof 65 by the Professional Coin Grading Service, we can only assume that the reports of scratches have been greatly exaggerated. Again, the new owner has the opportunity to pursue much additional pedigree research.

The 1878 half eagle ($5) pattern struck in gold (Judd-1570, Pollock-1764) is a unique example. In this case, absolute rarity is combined with high quality, as the pattern has been graded Proof 65 by the Professional Coin Grading Service.

The obverse features an aggressive representation of Liberty shown facing left, her hair combed back and tied in a bun, with a long curl that extends well down the back of her neck. Two ornamental ribbons decorate the top of her head, including one that runs horizontally and proclaims the word LIBERTY in incuse letters. The portrait is framed by the date and by E PLURIBUS UNUM, with the wording of this obverse motto separated by pellets or periods.

The reverse design features a defiant heraldic eagle grasping an olive branch and three arrows in its talons. The inscriptions UNITED STATES OF AMERICA, IN GOD WE TRUST, and FIVE DOL. encompass the eagle.

The pattern is struck in gold on a thin, reeded edge planchet with a diameter very close to one inch (25.4 mm.), compared to the 21.6 mm. diameter that was standard at the time. These broad, thin planchets were first suggested by Dr. J.T. Barclay of the U.S. Mint in the mid-1850s. An initial prototype was struck in the form of the 1860 gold half eagle pattern, Judd-271, which has an even larger diameter of 27 mm., equaling that of a ten dollar piece. The thin planchets were intended as an anti-counterfeiting measure during a period of rising production of gold coins and increased availability of the similarly heavy platinum. At the time, concern arose among Mint officials because the contemporarily less valuable platinum metal was increasingly being used as plugs for existing gold coins. This fear, referred to in Mint reports as the "platinum menace," was eventually proved to be unfounded as a widespread problem.

The pedigree of the 1878 half eagle pattern includes Waldo Newcomer; and the Palace Collection of King Farouk (Sotheby's, 1954), lot 315, where it realized $746.20!

In addition to these two patterns, the Chicago ANA includes a wonderful assortment of significant rarities and world-renowned collections. Several dozen other pattern coins are included as part of the 3300+ lots of numismatic rarities. And naturally, the Chicago ANA contains other great collections, like: The Chestatee Collection of Dahlonega gold; The Ronald W. Brown Acadiana Collection of New Orleans Mint Coinage; The Nevada Collection of CC Silver; The Richard Brownell Collection; The Dr. David Litrenta Collection; The Louis S. Joseph Collection; The William Casper Collection; The Karl Reintjes Collection; The Peter Bronson Collection; The Eugene Peterson Collection; and a Consignment from Lloyds of London. Pre-sale estimates value the sale above $12 million. These consignments ensure the attention of the numismatic world will be focused on Heritage's Chicago ANA auction.

Bidders in Heritage's ANA Signature Sale will have the opportunity to acquire some of the finest numismatic pieces to come on the market in a decade. The Internet version of the ANA catalog will be posted on Heritage's website, www.heritagecoin.com, around July 12th. After posting, bidders around the globe will begin bidding on these coins through our Interactive Internet™ program. Bidders can view full-color photographs and opening bids, and read complete catalog descriptions. Shortly thereafter, the printed copies of the catalog will be sent to bidders on our world-class mailing list. Copies of the printed catalog can be obtained from Heritage for $25, or by sending a photocopy of any recent rare coin invoice from any dealer for more than $1,000.

While the ANA Signature Sale is closed to consignments, it is still possible to consign to the Pre-ANA & ANA Bullet Auctions. Contact Heritage's Consignor Hotline (1-800-US COINS Ext. 222) today and ask to speak to Leo Frese (leo@heritagecoin.com), Bob Merrill (bobm@heritagecoin.com), or Scott Reiter (SReiter@heritagecoin.com).

Heritage is headquartered at 3500 Maple Avenue, 17th Floor, Dallas Texas, 75219-3941. Heritage's Internet website can be found at: www.heritagecoin.com. Collectors can sign up for free e-listings at the website.