Lot 2264
1811 $5 Capped Draped Bust. Small 5. PCGS graded MS-64. Well struck with light golden toning. A truly mint-fresh example, almost as crisp and glossy as when it was first released from to the Treasury for distribution so many eons ago. We could go on and on about the luster, but first-hand experience plus the solid MS64 grade by PCGS needs no further discussion; the high-resolution photograph we provide also shows off this feature admirably. The discussion of the luster now turns to the detail. This piece is not just close to, but completely and sharply struck, with terrific detail at the obverse stars, all of Liberty's curls, the drapery with its small clasp (note the tiny design featured at the center of the clasp). The reverse, as well, shows just how carefully this 1811 five was made, and it displays lovely patina that deepens in areas around the legends. Full, frosty, beautiful: what more could a collector ask? Tied for the finest.graded. Pop 14; none finer at PCGS. (PCGS # 8109) .
Disappearance of early U.S. gold coins. When America's second war with Great Britain came to a close in 1815, trade resumed in earnest, as if there had never been any animosity between the two foes. Congress, loath to modify America's coinage laws, allowed gold to be overpriced relative to silver and hence, to be hoarded. Then, to add to the shock of readjusting after the war, private individuals and banks began flooding the country with often-worthless bank notes called, appropriately, "wildcat notes." Prices of goods advanced dramatically between 1814 and 1819. Coins such as this 1811 Half Eagle saw nearly the entire product of the Mint's output exported to Britain and Europe. This was mainly in payment for imports. Once in foreign hands America's gold half eagles were melted, to be recoined into local moneys. So whenever a numismatic article refers to low survival rates of early US gold such as the 1811 offered here, this is one of the chief reasons why.
Estimated Value $30,000 - 35,000.
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| Realized $40,250 |
