LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

3138

1802/1 $5 MS65 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:115,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1802/1 $5 MS65 NGC
<B>1802/1 $5 MS65 NGC.</B></I> Breen-6440, BD-1, High R.4. The BD-1 die variety combines the centered overdate obverse with a reverse identified by a leaf touching the center of I in AMERICA. Two different overdate obverse dies were created for the 1802 half eagles, each die obviously intended for production of the denomination in 1801, yet none were ever struck bearing the 1801 date. <BR> In <I>Early U.S. Gold Coin Varieties</B></I>, John Dannreuther notes: "There were no half eagles struck dated 1801, but both obverse dies used in 1802 were overdated 1801-dated dies. Why no coins were struck using the dies dated 1801 is a mystery, as over 26,000 half eagles were struck in the calendar year 1801!" The continued use of 1800-dated obverse dies for the coinage of 1801 seems to be the answer to this mystery.<BR> Several different reverse dies were used in conjunction with each obverse, to create a total eight different varieties, according to Dannreuther. Five varieties were coined from the Centered Overdate obverse, sometimes also called the Low Overdate. Three other varieties use the High Overdate obverse. The first obverse has the 2 approximately centered between the bust and the border, and the second obverse has the top of the 2 joined to the bust.<BR> The BD-1 die combination is the first use of the Centered Overdate obverse, and it is believed to be the first half eagle coinage of the year. The obverse die is fresh and new, without any evidence of die cracks, clashmarks, lapping, or other signs of use. It is truly a perfect die. A faint guideline is still visible just inside the border dentils from 10 o'clock, clockwise to 5 o'clock. This guideline fades through use with the different reverse dies.<BR> The reverse die is shattered with numerous die cracks. Such deterioration of a new die seems surprising, unless the die was improperly made, or previously used. This die does not match any previous reverse used for half eagle coinage, thus it must have been poorly produced. All of the die cracks that Dannreuther describes are present on this piece.<BR> An amazing Gem specimen, perhaps the finest known example of the die marriage, and among the best 1802/1 half eagles that survive today. It is the only example that NGC has certified MS65, with none finer (12/07). Both sides have full mint brilliance with satiny yellow-gold luster that displays a faint trace of green color. Every design feature of this boldly struck piece is fully evident without any apparent weakness. A few faint surface marks are evident, but of little consequence. Census: 1 in 65, 0 finer (12/07).<BR><BR><B>Coin Engraver:</B> Robert Scot<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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