Lot 2028
1832 Capped Bust Left SEGS graded MS61 Details Cleaned. Scarce date and type, as all Capped Bust gold from this period suffered from severe melting soon after this one was struck. The price of gold bullion rose to the point that this entire series, and half eagles too, actually were profitable to melt, so by 1834 so little gold was left that finally an adjustment to the planchet weights was authorized. That brought the face value back below the melt value of thse gold coins, and after 1834 the new lighter weight coins actually stayed in circulation. However, for these earlier coins there's so few around that is is believe 80 to 100 pieces exist today. This one, although cleaned, faces up quite well and should be considered if you are seeking a high grade yet comparatively affordable example of this elusive type coin. A few light marks are present, but this is to be expected on any coin from this period.
Estimated Value $6,000 - 7,000.
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