LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3539

1830 $5 MS64 PCGS. Large 5D, Breen-6491, BD-1, R.6. Th

Currency:USD Category:Coins & Paper Money / US Coins Start Price:95,000.00 USD Estimated At:1.00 - 2.00 USD
1830 $5 MS64 PCGS. Large 5D, Breen-6491, BD-1, R.6. Th
<B>1830 $5 MS64 PCGS.</B></I> Large 5D, Breen-6491, BD-1, R.6. The Large 5D variant, at R.6 (13-30 pieces extant) is a bit rarer than the Small 5D (Breen-6492, BD-2), ranked as a high R.5 (31-45 pieces known). Suffice it to say that both varieties are incredibly elusive. The Mint produced the PR67 1828 Smithsonian Institution half eagle specimen using a "close collar"--essentially a die for the edge of the coin. Partway through 1829, the Mint expanded the use of the close collar to all coins and reduced the diameter of the half eagle to 22.5 mm.<BR> The new invention, a heavy steel block with a hole the same diameter as the finished coin, had grooves that provided the edge reeding. The close collar provided coins with a "mathematical equality to their diameters," according to Mint Director Samuel Moore. According to the Breen <I>Complete Encyclopedia:</B></I><BR><BR><I> "Earlier coins had been struck in an open collar, which is a flat metal plate with a hole somewhat larger than the diameter of a finished coin, serving to position a planchet atop the lower die for striking, but not to restrain its expansion. Edge lettering, reeding, or other ornamentation were imparted in a separate operation by the Castaing machine (parallel bars) before the blanks went to press; the open collar did not affect them. Because centering was not always exact, dies were normally of much greater diameter than the finished coins, and included long radial-line dentilated borders so that any unstamped areas might not tempt the ungodly to clip or shave off precious metal before spending the coins."</B></I><BR><BR> By 1834 the gold content of old-tenor coins exceeded their intrinsic value; most were melted. Like gold coins from earlier decades, the 1829-34 half eagles are exceedingly rare. The present example has a small date, with the 1 taller than the remaining digits. Recutting is most evident at the top of the 0, and stars 8-9 and 12 show re-engraving. The 5 in the denomination is small but the D is large, with a small period. The U's in E PLURIBUS UNUM are visibly taller than the other letters of the motto. A small die crack joins the tops of NITE.<BR> Many past auction catalogs and catalogers have failed to distinguish between the Small and Large 5D variants. Curiously, PCGS lists 18 examples of the Large 5D variety but none of the Small 5D in its online <I>Population Report.</B></I> There are two pieces graded MS64, with two finer (10/06). The NGC <I>Census Report</B></I> shows 18 examples of the Small 5D, versus only five examples of the Large 5D, the finest graded MS65 S.<BR> This lovely coin has especially strong mint luster and notably well-defined devices and appears to have been well cared for since Andrew Jackson was president. The rich orange-gold surfaces deepen considerably around the margins, with especially deep red patina around the reverse. There are a few tiny field marks on the obverse that account for the less-than-Gem grade, but none are worthy of mention or consideration.<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
Sign In to Bookmark Lot