1965 5C, FS MS(PCGS#84077)

Spring 2025 Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

2264

等级

MS66FS

价格

28,223

详细说明

After only the early 1800s, when the institution was threatened with permanent closure, the 1960s was the most stressful period of time in the history of the United States Mint. A severe coin shortage developed during the earliest years of that decade, reaching a peak in 1964. The two primary causes of this were the post-World War II spread of sales taxes and an increasing reliance on vending machines and parking meters in people's day-to-day lives. Unfortunately, the Mint was ill-equipped to meet this increased demand for circulating coins. A new Philadelphia Mint building, although requested in the 1940s, was not forthcoming until 1969, and the Denver Mint was an aging facilities that dated to the early 20th century. In a shortsighted move the San Francisco Mint had actually been closed in 1955, despite the obvious expansion of the nation's economy.<p>Either misunderstanding the situation or seeking to shift blame, the government mistakenly linked the coin shortage of the early 1960s to the growing popularity of coin collecting. In order to discourage alleged hoarding, Congress ordered the Mint to freeze the 1964 date on all coins until the crisis had been weathered. This practice continued until December 29, 1965, when the mint was ordered to switch to 1965-dated dies, which were used exclusively through July of 1966. The 1966 date was then employed through the remainder of that year, with the 1967 date used for the duration of that calendar year. During this same three-year period, 1965 though 1967, the use of mintmarks was also suspended as the government sought an additional way to discourage collectors. Coinage actually took place at all three mints - San Francisco was reactivated for this purpose in 1965 - and even as early as the end of 1965 contemporary reports confirmed that the coin shortage had passed. Being overly cautious, however, the Treasury Department kept the policy of freezing the date on newly produced coins and the ban on mintmarks in effect through mid-1966 and the end of 1967, respectively.<p>During this chaotic period the Philadelphia, Denver and San Francisco mints combined to strike 136,131,380 nickels for circulation bearing the 1965 date. Obviously a high mintage issue, and plentiful in an absolute sense as such, the 1965 is readily obtainable in uncirculated condition even through premium Gem Mint Sate. On the other hand, this issue clearly reflects the Mint's virtual abandonment of striking quality as it struggled to overcome the coin shortage. As with many other circulation strike nickel issues of the 1960s, and to a greater degree than most, the 1965 is an extraordinary strike rarity that rarely comes with enough detail to support a Full Steps designation from the major third party certification services. PCGS and NGC combined report only six grading events in their Full Steps and 5FS categories, respectively, and is appears that none of these have sold at auction. Our offering of this beautiful golden-tinged Gem represents a fleeting opportunity for specialists that will surely see spirited competition between aggressive bidders.