Lot 1785
1834. Plain 4. PCGS graded MS-61. CAC Approved. Well struck and delicately toned, the luster is even and muted. Few examples of the 1834 Capped Head half eagle survive today, and seldom are they found in Mint State grades (PCGS # 8171) .
Note: In summer 1834, the $5 denomination was redesigned by William Kneass, who created what is now known today as the Classic Head style.
The new 1834 issue is similar in design to the quarter eagle of the same date. The obverse depicts the head of Liberty facing left, her hair secured by a band inscribed LIBERTY, with stars circling her head, and the date below.
The reverse shows an eagle with a shield on its breast, grasping an olive branch and holding three arrows. The inscription UNITED STATES OF AMERICA, 5 D. surrounds. The motto E PLURIBUS UNUM, used earlier, was discontinued.
The authorized standard was reduced from 135 grains to 129 grains via the Act of June 28, 1834. This was put into effect on August 2, 1834, and coins struck on and after that date were of the new weight. The strategy to encourage circulation of gold coins within United States borders proved successful; it was no longer profitable to melt or export coins for bullion, and gold coins circulated at par for the first time since the War of 1812.
Estimated Value $3,000 - 3,500.
The Del Valle Collection.
|
| |
| Realized $5,288 |
