Lot 1568
1834 $5 Capped Head. Plain 4. NGC graded MS-61. NGC holder 1848568-007. Well struck, bright and lustrous. We note a faint scuff in the right obverse field mentioned mailnly for identification purposes. Rare and popular type coin. By 1834, and actually for many years prior, it was known that gold coinage production could not continue as it had, for the gold content actually exceeded the face value. Congress passed new legislation lowering the weight of all our gold coinage, promoting renewed circulation. This is one of the last With Motto 1834 Capped Head half eagle surviving today, and seldom is one found in grades finer than this. A very attractive Mint State piece. It is a very sharply struck, save for a couple of rounded stars, with fully brilliant, semi-prooflike surfaces and a light cameo contrast. Faint surface blemishes give the coin a slightly rough, abraded appearance, but the underlying luster is complete from high points to open areas. We have handled only a few 1834 Capped Head half eagles with Plain 4 in the past dozen years, and this example is obviously one of the most important offerings we have ever offered. A genuine part of American numismatic history and coin lore.
Although almost 75,000 1834 half eagles of this design type were minted, apparently only 50,141 examples actually left the Mint. The remaining 25,000 coins were melted and coined into the lower weight Classic Head design, introduced upon passage of the Act of June 28, 1834. Four die varieties were minted from three different obverse dies and three reverse dies. This obverse has a plain 4 in the date. Walter Breen mentioned another obverse die with plain 4, that having the final digit leaning slightly to the left and almost entirely left of the curl above. Pop 5; 10 finer (PCGS # 8160) .
Estimated Value $55,000 - 60,000.
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| Realized $69,000 |
