Lot 3365
1811 $5 Capped Draped Bust BD-2 Rarity 3. NGC graded MS-65. Boldly struck, untoned, and very frosty. Identifiable by a shallow flake in the luster beneath the eagle's beak. The Capped Bust Left device made its first appearance in 1807 soon after the Mint hired John Reich as Assistant Engraver. Reich's design, which is seen on the 1807 half dollar as well, was a change for the United States Mint in that it marked the first time the denomination appears on silver and gold coins. In his 1988 Encyclopedia, Walter Breen writes that only about 1% of the original mintage in the Capped Bust Left half eagle series is extant today. He goes on to observe that, "Unlike later gold coins, the vast majority of specimens of this design will grade Extremely Fine or About Unc." It is significant, therefore, that this 1811 example is Gem Mint State 65. And it is even more significant that the surfaces have been preserved carefully enough to have secured a high Condition Census grade. There is much to say about the beautiful surfaces of this coin since they are nearly perfect, a quality almost unimaginable. The mint frost is aglow with bright intensity over each side. There is no toning. In a new NGC 4 pronged holder.
The Philadelphia Mint employed two different die marriages to deliver 99,581 Half Eagles in 1811. The present variety with a Small 5 in the reverse denomination is a bit more common than its Tall 5 counterpart, but no early half eagle like this can be said to be common in Gem condition! An extremely important offering for the advanced numismatist, and a coin that is sure to raise eyebrows when it appears at auction this Summer. Pop 4; 1 finer in 66.
Estimated Value $70,000 - 75,000.
|
| |
| Unsold |
