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Victoria (1837-1901), Halfpenny, 1862, lcw on rock, die letter B by lighthouse, 5.79g/12h (F 288; dies of BMC 1774a; S 3956). Two minor spots on reverse, otherwise good extremely fine with considerable original colour, extremely rare; almost certainly the finest known Halfpenny with a die letter extant £4,000-5,000

Michael Freeman’s 2006 rarity rating of “6-15” specimens known may, with the benefit of hindsight, be regarded as a slight underestimate. At least 9 other examples, mostly in fine condition or less, have been offered at auction since 2006. However, the present piece outgrades by a considerable margin every other 1862 halfpenny with a die letter seen in commerce. The only pieces that in any way approach this one for grade are two with the more frequently met with die letter A (’Cheshire’ Collection, Goldberg, 30 May 2005, 3107, $2,700; London Coins, 1 March 2009, 555, £1,700)