Lot 1980
1806 $5 Capped Bust. Pointed top 6. . M-75. PCGS graded MS-64. The obverse die was prepared by the proverbial "office boy". Note that the 6 is very high, with the upper point of that number well up into Liberty's drapery. In addition, the first star was obviously added as an afterthought, and seems to be stuffed into the area near Liberty's lowest curl. We can only guess, but we suspect that the obverse die was originally a twelve star, with the stars arranged 7X5, when the supervisor, or office boy engraver noticed the error, and demanded an additional star be added. One simply can't waste dies, as die steel was very expensive. Adding the additional star was overcome by lapping or filing off the lowest curl of Liberty, note how incomplete it is with broken ends appearing both at the top and bottom above the first star. Literally erasing most of this bottom curl allowed the engraver to squeeze in another star, which ended up being awkwardly placed where part of the curl used to be, with two points very nearly touching the next star. Similar corrections to dies have been noted on coins of the early period at the Federal Mint, another famous example is the 15 star reverse bust dollar (1799), where too many stars were placed over the eagle, and the two offending stars were covered over by extending the clouds over the stars. A few points of the two stars can still be seen, sticking out from the bottom of the clouds. Thus, the early days at the Mint presented many challenges, and the employees bumbled along as best they could.
Splendid surfaces on this coin, with full mint bloom and few signs of handling. The central reverse has some crossing adjustment marks through the eagle, and these weaken some of the central devices. Overall, a gorgeous coin for the grade, and one with the added appeal of the "extra" star being squeezed in on the obverse. Further, this is one of the finest graded by PCGS, which notes 4 this high, with none graded higher! Certainly an opportunity for the alert numismatist, who enjoys the study of the minute details provided in such rich abundance in these early coins.
Estimated Value $25,000 - 35,000.
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