Lot 1752
1831 $2.50 Capped Head. NGC graded AU-58. Lightly toned with semi reflective fields. The early period of the 19th century, the demand for half eagles caused this denomination to be top-dog among the gold denominations. It was the $5 coin, and not the $2.50 quarter eagle or $10 eagle, that showed up in the orders of banks and bullion depositors with the greatest degree of frequency. Of course, a limited number of quarter eagles were requested from time-to-time, such as the 4,520 examples of the capped head left pieces reported for 1831. Like its contemporaries of 1829, 1830, 1832, 1833, and 1834, the 1831 uses a smaller diameter than the 1821-1827 coins. However, all dates in this series from 1821 to 1834 do have one thing in common: acute rarity and unavailability in all grades as a result of the widespread export and melting of gold coins that was prevalent during this time period.
Both sides of the present AU58 are richly colored in orange-gold shades with a noticeably prooflike finish still adhering around the main devices. Unlike the fields, however, the devices are not appreciably reflective with more of a satiny texture. The coin has a nice uncleaned look about it, the fresh look of "old gold" preservation so valued by today's top buyers. Pop 10; 40 finer.
Estimated Value $10,000 - 11,000.
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