Lot 1690
1834. No motto. NGC graded MS-62. CAC Approved. A hint of warm gold tone. Lustrous. Quarter eagles and half eagles of the Classic Head type, from dies by William Kneass, were first made in 1834 and with that date, and made their début in circulation in August. As they were produced under the provisions of the Mint Act of June 28, 1834, promoted by Missouri Senator Thomas Hart Benton, these issues were popularly referred to as "Benton's Mint Drops." Some others called them "yellow boys." By August 1834 no gold coins had been in American circulation since the very early 1820s, and the sight of them was quite unfamiliar to just about everyone. The continued exporting of American gold coins finally caused congress to act. The mint was instructed to lower the gold content of Half Eagles just sufficiently to where they no longer were profitable to melt. It has been estimated that upwards of 98% of the pre-1834 No Motto mintage was consigned to the melting pots. Much was refashioned into these attractive No Motto Half Eagles by William Kneass.Pop 61; 96 finer (PCGS # 7692) .
Estimated Value $4,200 - 4,400.
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