Lot 3374
1834 $5 Classic Head. Plain 4. . BD-1, variety with low 5D. NGC graded MS-61. Very rare date. A coin with significant claims to a higher grade. This coin's exacting strike is enhanced royally by a uniform, finely frosted luster of the greatest beauty and delicacy. Magnification and close scrutiny may find a mark or two along with some granular contact marks on the reverse, but none of this counts as a significant demerit or visual distraction. Here is a lustrous, eminently desirable instance of the final date of this Capped Head, No Motto type, combining outstanding characteristics with significant rarity for magnificent effect. Despite a coinage total of 50,141 pieces, the 1834 Capped Head Left issue is today very rare. Most specimens were melted due to the reduction of fineness/gold content marked by the change to the Classic Head type. Perhaps no more than 30 to 40 exist in all grades of the Plain 4, spread among (and permanently locked away in) the largest "name" collections in America. Pop 1; 3 in 62; 5 in 63; 2 in 64. In a new NGC 4 pronged holder.
Note: The mintage for the six dates of this No Motto type, mid-1829 to mid-1834 is actually higher than that of the previous type that was intermittently struck, although for more years, from 1813 through 1829. Most of the earlier production was exported and melted, as the gold content exceeded the face value until the reduction in mid-1834. After 1821, no gold was seen in local circulation until the lighter-weight coins were introduced after August 1, 1834. Most of the examples of this type found are in high grade due to hoarding and melting with low-grade examples seldom seen.
Estimated Value $40,000 - 45,000.
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| Realized $44,850 |
