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Sale 78
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Lot 1782
1832. Square Base 2, 13 stars BD-1 Rarity 5. PCGS graded AU-58. Housed in a First Generation Holder. Well struck in natural greenish color gold, lustrous with some scattered light handling marks, all lightly toned. A choice high grade example of this popular and rare type coin. The 13 Stars BD-1 variety, while not as rare as the 12 Stars BD-2 of 1832, is nevertheless a very elusive coin -- Breen estimated 14 to 18 known from his experience, Dannreuther has since upped the estimate to 40 to 50 known (Rarity-5) out of 157,487 struck for the year. According to Dannreuther: There are as many as 50 examples surviving. This may seem high to some specialists, but quite a few of these coins have been brought to market because of higher prices in the past 25 years. This is still not a common coin, of course, and all Fat Head Fives are popular and snapped up by savvy collectors at auctions and on the bourse floor. For some reason, half eagles of the 1830s are often seen with extensive evidence of handling, unlike most of the dates in the 1820s." Pop 2; 11 finer, 1 in 61, 4 in 62, 3 in 63, 3 in 64 (PCGS # 8156) .
Until 1833, three buildings provided America with hard money. Operations moved to the Second Philadelphia Mint in 1833 and the land housing the first mint was sold. In the late 19th or early 20th century, the property was sold to Frank Stewart, who approached the city asking them to preserve or relocate the historic buildings. With no governmental help "Ye Olde Mint" was demolished between 1907 and 1911. A small plaque now marks the only spot memorializing the first mint.
This 1832 Half Eagle was one of the last made at the First Philadelphia Mint which charmingly had the date and words "1792 Ye Olde Mint" painted on its street side wall above the second floor windows. On July 4, 1829, a cornerstone was laid at the intersection of Walnut and Juniper Sts. for its replacement. It was designed by William Strickland. The second Philadelphia Mint, the "Grecian Temple", was constructed of white marble with classic Greek style columns on front and back was under construction at the time the mint struck this 1832 $5 gold piece. Measuring 150 feet wide in front by 204 feet deep, it was a huge improvement over the first facility, in space as well as image. Opening in January 1833, its production was constrained by the outdated machinery salvaged from "Ye Olde Mint". Director of the Mint Franklin Peale was sent to Europe to study advanced coin making technologies which were brought back and implemented, increasing productivity and quality.
Estimated Value $40,000 - 45,000.
Ex: Purchased from Superior in the late 1980's The Del Valle Collection.
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| Realized $85,188 |
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