It has been determined by the three major third party grading services that this proof $2½ Liberty gold die trial is not authentic. PCGS determined that it was a counterfeit struck from false dies. NGC determined that it was not genuine. And CACG determined that it was of questionable authenticity.

This surprised many experts since this was a rare and famous uniface die trial in gold. The reverse design is the adopted design for the $2½ Liberty. It was double struck and broadstruck on an oversized gold planchet with a weight of 5.4 grams which is considerably heavier than the 4.18 gram weight of a regular $2½ Liberty.

This gold die trial has an illustrious pedigree, which includes being in a Q. David Bowers Empire Review and a Lester Merkin auction. Additionally it is mentioned in David W. Akers Quarter Eagle reference book. Lastly, it is listed in the Judd Appendix and featured on the USPatterns website.

There was intense discussion in the numismatic community over whether this die trial is authentic or counterfeit. Although most experts believe it to be a counterfeit, there are a few experts that still feel that it might possibly be genuine.

Judd Appendix A J-A1859-8

Q. David Bowers Empire Review #16 1962

Lester Merkin auction October 1973, lot 469

This die trial is referenced in United States Gold Coins: An Analysis of Auction Records Volume II Quarter Eagles, 1796-1929 by David W. Akers. On page 120, he mentions that this "very interesting uniface die trial of this new reverse exists and was sold in Lester Merkin's October 1973 sale."