6241

1804[$5] Small 8 MS61 NGC.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1804[$5] Small 8 MS61 NGC.
<B>1804<$5> Small 8 MS61 NGC.</B></I> B. 2-E, Miller-64, R.5. All Half Eagles from 1795 through 1804 are rare, and in mint condition extremely so. In the late 1700s Secretary of the Treasury Alexander Hamilton pegged the ratio of silver to gold at 15 to 1. However, silver was being mined and imported from Mexico, Central and South America in ever increasing quantities, while gold production was growing more slowly. The U.S. Mint did not adjust the standard, and by the turn of the century the true value ratio had shifted to 15 3/4 to 1, so it was advantageous to melt and/or export gold coins and then sell the bullion at a profit relative to silver. For this reason, early gold coins are now quite elusive in any condition.<BR> The green-gold color of this coin shows off mint luster that is exceptional, being bright and disturbed by only a few obverse abrasions. A couple of die cracks are noted, one vertical that bisects the obverse, the other horizontal the bisects the right half of the reverse. A noteworthy specimen destined for the gold specialist. <BR><BR><B>Important notice:</B> Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid.