Lot 1556
1802/1 $5 Capped Bust. PCGS graded MS-63. Mostly untoned with a very clear overdate. There is a short line in the field from the hair to star two that can be used as reference. Smooth fields, otherwise, and lustrous. All 1802 half eagles were struck from overdated obverses. It is reported there were 53,176 pieces made this year; however, what is not in the records but is well known to numismatists, is that upwards of 95% to 97% of the issue was either exported or later melted. The resultant collector population is therefore much fewer than many suppose; fewer still in this outstanding Mint State 63 grade, per the PCGS census: Pop 29; 18 in 64, 1 in 65, and 1 in 66. (PCGS # 8083) .
Half Eagles of 1802 were minted from two distinctly different obverse dies, each an overdate with digit 2 punched over a previous 1. These two overdate obverse dies are very similar in appearance although the first has the top of the 2 distant from the bust and centered over the original digit 1. Some confusion exists to this day regarding reverse dies and which obverse dies with which they were mated. This example is Breen 1-C and in an early die state before numerous fine reverse die cracks appear.
Estimated Value $19,000 - 21,000.
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| Realized $23,000 |
