Estimated grade. MORGAN CRUSHED CAP LIBERTY HEAD OBVERSE/TALL MORGAN DOLLAR-STYLE EAGLE REVERSE.
David Akers (1975/88): Description: Obverse. Large head of Liberty facing left wearing a Phrygian cap with LIBERTY incused on the band. E PLURIBUS is in front of the face by the border and UNUM is behind the head. Below the bust is the date, 1878. The rim or border is very broad. (This design is very similar in general appearance to the design adopted for the silver dollar.) Reverse. Eagle with outstretched wings holding three arrows in its left talon and an olive branch with three leaves in its right. The motto IN GOD WE TRST is in Gothic letters above the eagle's head. Above the motto is STATES OF while UNITED is to the left and AMERICA is to the right. The denomination FIVE DOL. is below the eagle and is separated from the legend by periods on either side. (This reverse design is very similar to the regularly adopted silver dollar reverse.)
Comments: A specimen of this pattern was offered in the Parmelee sale of 1890 with the eagle of similar design, J-1581. The lot brought $20.00.
At the present time, I can locate only one specimen of this pattern, the one in the Wilkison collection that Paramount International Coin Corporation purchased in September, 1973. Dr. Wilkison obtained the piece from the Judd collection in 1962. I am not sure where Judd acquired the piece, but it was not from Boyd or Farouk since neither of them ever owned one. Possibly the piece came from the Col. Green collection.
If in fact this is the only specimen in existence, it obviously would have to be the one from the Parmelee sale. Of course, it is not impossible that they are two different pieces, but without firm evidence of a second specimen, one can reasonably assume that the Paramount-Wilkison-Judd piece and the Parmelee specimen are one and the same.