Lot 1071
1834 $5 Classic Head. Plain 4. SEGS graded MS-63. A trifle softly struck around some of the stars and upper curls, while the remarkably clear surfaces exhibit satiny smooth luster. Our grade is a conservative MS61.
The continued exporting of American gold coins finally caused congress to act. In their coinage Act of June 28, 1834, 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 original pre-1834 No Motto mintage was consigned to the melting pots. Much was refashioned into these No Motto Half Eagles designed by William Kneass.
Estimated Value $2,500 - 3,000.
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| Realized $3,335 |
