Lot 1338
1834. No motto. PCGS graded AU-58. Nicely toned. Reflective fields on both sides which is present as this coin received so little wear. During 1834 the Mint was finally authorized to reduce the gold content of its gold coinage, this was needed as the $5 and $2.50 coins were being melted for a profit over their face value. Hence most of the old tenor coins (struck in early 1834 and prior) suffered considerable losses due to this melting of our coinage. After authorization the Mint employed a lower weight standard on the $2.50 and $5 gold coins and the melting of these slightly lighter gold coins stopped, and these stayed in circulation Here is a very nice example of the new style with pleasing copper gold color and ample luster. An important and popular type coin (PCGS # 7692) Estimated Value $1,250 - 1,300
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| Realized $1,560 |
