1861-D $5 Half Eagle PCGS AU53 - US Rare Coin Investments

1861-D $5 Half Eagle PCGS AU53. The 1861-D is a very historic issue with an unknown, but certainly low mintage. 1,597 pieces were produced between January 7 and early April of the year the Civil War commenced. This was after the state of Georgia had seceded from the Union, but these pieces were still reported to the Philadelphia Mint. In April, Superintendent Kellogg resigned after rebels had seized the Mint on April 8. A limited number of gold dollars and half eagles were produced by the Confederacy, using left-over blanks and machinery from the Union.

The total number of half eagles produced by the Confederate States of America is unknown, but estimates range from 1,600 to 2,500 produced. With a total number of 75 to 80 coins of this issue known in all grades, one does not need the mintage the figure out the true rarity of the last half eagle struck at the Dahlonega Mint.

It is unknown which of the pieces that still remain were produced by the CSA. Unlike 1861-O half dollars, which were produced under three governments, there has not yet been discovered a method of distinguishing these coins. One theory that has been considered is identifying the CSA produced pieces by misaligned dies. It is assumed that the confederate workers did not have the experience to produce the coins in the same quality as the union workers had done. However, it is unknown how many union workers also worked for the confederacy, making this theory somewhat plausible.

The present piece, as is identified by the obverse, was struck from misaligned dies. This makes this coin a candidate for being struck by the CSA, and one of very few pieces that were produced under that government. The misaligned dies are as-struck, and do not detract at all from the originality of this coin. As a result, the stars are weak but the centers are stronger than usually found on this issue. The D Mintmark is fully struck, making it the prime key factor of this issue. The coin has toned to a light orange-yellow color, with luster remaining in the protected areas. Some circulation marks are visible on the obverse, but no distracting marks or hits are noted on either side. A rare and wonderful coin for the specialist of Civil War or Dahlonega gold!