Description

The 1992 Columbus $5 Gold Coin was issued along with two other coins to commemorate the quincentenary of Columbus’ discovery of the Americas. These coins were first available in the second half of the year, with sales extending into 1993.

The obverse design of the gold coin features a portrait of Christopher Columbus in profile along with a map of the New World. An outer ring contains the inscriptions “Liberty”, “1492”, “1992”, and “In God We Trust”, with “Christopher Columbus” positioned near the profile portrait. The obverse was designed by T. James Ferrell.

The reverse design carries the crest of the Admiral of Oceans and a map of the Old World containing the date “1492”. The additional inscriptions read “United States of America”, “Five Dollars”, and “E Pluribus Unum”. The verse was designed by Thomas D. Rogers Sr.

Maximum production levels were set at high levels amidst optimism for the success of the commemorative program. The 1992 Columbus Gold Coin carried a maximum mintage of one million pieces. Proof and uncirculated versions were available, struck at the West Point Mint. Final sales reached about one tenth of the maximum level, with the proof version outselling the uncirculated version by about three to one.

The gold coins were sold individually or as part of a three-coin proof set, three-coin uncirculated set, or full six coin set.

NGC Coin Grading Scale

NGC uses the internationally accepted Sheldon grading scale of 1 to 70, which was first used in the United States in the late 1940s. This scale was adopted by NGC when it began operations in 1987 and is considered to be the industry standard. Below are NGC’s grading standards for each numeric grade as well as major strike types and designations.

What is a 70?

NGC defines a Mint State or Proof 70 coin as having no post-production imperfections at 5x magnification.

Strike Type

NGC uses two-letter codes before a coin’s numeric grade to describe its method of production and overall appearance. The most common are MS for Mint State coins (those struck for circulation) and PF for Proof coins (those struck for collectors). Another strike type is SP for Specimen, which describes a coin that falls short of the definition for actual Proofs but are superior to the normal currency issues.

Numeric Grades

NGC uses a numeric grade to succinctly describe a problem-free coin’s condition. The available numeric grades range from 1 to 70 based on an internationally recognized scale developed in the 1940s. As the numeric grade increases, a coin’s condition is considered to be better. Some numbers are skipped below the grade of 60, which is the threshold for a coin to be considered Uncirculated.

Plus & Star

NGC uses the Plus (+) and Star () designations to distinguish coins at the high end of their assigned grade and/or with exceptional eye appeal for their assigned grade. All coins are evaluated for the Plus and Star designations as part of the normal NGC coin grading process, and they are assigned automatically for no additional fee.

+ (NGC Plus Designation)	NGC assigns a plus sign to coins at the high end of their assigned grade, approaching the quality requirements for the next grade. For example, a coin graded NGC MS 64 is close to the quality of a coin graded NGC MS 65.
(NGC Star Designation)	NGC assigns its trademarked Star Designation to coins with exceptional eye appeal for their assigned grade.

Strike Characters

Strike characters are used to describe how well an area of a coin is struck and when information is of specific interest to collectors. For example, strike characters can describe the degree of red luster on a copper coin’s surface (BN, RB and RD), the degree of contrast on a Proof coin (Cameo and Ultra Cameo) or other distinctive features, such as FB for Full Bands on a Mercury Dime.