Heritage World Coin Auctions
FUN Signature US Coin Sale 1251 4-6 & 8-9 Jan 2017
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Early Half Eagles
1826 $5 BD-1, R.5, MS62 PCGS. Gold CAC. Bass-Dannreuther Die State a/e. A modest mintage of 18,069 Capped Head half eagles was achieved in 1826, with two die varieties known for the date. Most surviving examples, including the coin offered here, represent the BD-1 variety, with star 13 placed low and a large period in the denomination. Since only three specimens of the BD-2 variety are known, we assume BD-1 coins accounted for the majority of the reported mintage, perhaps 12,500-17,500 pieces. This was the only use of the obverse die, but the hardy reverse had been used previously to strike three varieties in 1820.
The 1826 BD-1 half eagle is a rare issue in today's market, with a surviving population of just 30-35 examples in all grades, according to PCGS CoinFacts. This figure agrees well with estimates made by earlier researchers, like David Akers (30-35 pieces) and Walter Breen (possibly as many as 30 coins), indicating that the population has been stable for some time. Most survivors are in Mint State grades, including the MS66+ PCGS BD-1 coin from the D. Brent Pogue Collection, which realized $446,500 when it was offered last May. The record price realized for any 1826 half eagle is $763,750, brought by the magnificent MS66 PCGS, CAC BD-2 example in lot 5432 of the FUN Signature (Heritage, 1/2014). Two proof examples are reported. There are two coins in the National Numismatic Collection at the Smithsonian Institution, including one of the proofs, and the Harry Bass Foundation has an example of both varieties (BD-1 and BD-2). PCGS and NGC have combined to certify 20 coins between them, including an unknown number of resubmissions and crossovers (9/2016).
The present coin is a remarkably attractive MS62 example, with sharply detailed design elements and especially vibrant satiny mint luster throughout. Traces of prooflike reflectivity are evident in selected areas and the lightly marked antique-gold surfaces are suggestive of an even higher grade. A few small die lumps are evident in the lower reverse field and the eagle's claws show some effects of lapping, as this was the fourth use of the reverse die. No clashing, die breaks, or planchet adjustment marks are evident and overall eye appeal is terrific. This specimen is the only 1826 half eagle to be awarded a gold CAC sticker (9/16). This piece has been off the market for 26 years and we expect intense competition from series enthusiasts when this lot is called. Population: 3 in 62, 5 finer (9/16).
Ex: Auction '90 (RARCOA, 8/1990), lot 942.
From The Hutchinson Collection.
1826 $5 BD-1, R.5, MS62 PCGS. Gold CAC. Bass-Dannreuther Die State a/e. A modest mintage of 18,069 Capped Head half eagles was achieved in 1826, with two die varieties known for the date. Most surviving examples, including the coin offered here, represent the BD-1 variety, with star 13 placed low and a large period in the denomination. Since only three specimens of the BD-2 variety are known, we assume BD-1 coins accounted for the majority of the reported mintage, perhaps 12,500-17,500 pieces. This was the only use of the obverse die, but the hardy reverse had been used previously to strike three varieties in 1820.
The 1826 BD-1 half eagle is a rare issue in today's market, with a surviving population of just 30-35 examples in all grades, according to PCGS CoinFacts. This figure agrees well with estimates made by earlier researchers, like David Akers (30-35 pieces) and Walter Breen (possibly as many as 30 coins), indicating that the population has been stable for some time. Most survivors are in Mint State grades, including the MS66+ PCGS BD-1 coin from the D. Brent Pogue Collection, which realized $446,500 when it was offered last May. The record price realized for any 1826 half eagle is $763,750, brought by the magnificent MS66 PCGS, CAC BD-2 example in lot 5432 of the FUN Signature (Heritage, 1/2014). Two proof examples are reported. There are two coins in the National Numismatic Collection at the Smithsonian Institution, including one of the proofs, and the Harry Bass Foundation has an example of both varieties (BD-1 and BD-2). PCGS and NGC have combined to certify 20 coins between them, including an unknown number of resubmissions and crossovers (9/2016).
The present coin is a remarkably attractive MS62 example, with sharply detailed design elements and especially vibrant satiny mint luster throughout. Traces of prooflike reflectivity are evident in selected areas and the lightly marked antique-gold surfaces are suggestive of an even higher grade. A few small die lumps are evident in the lower reverse field and the eagle's claws show some effects of lapping, as this was the fourth use of the reverse die. No clashing, die breaks, or planchet adjustment marks are evident and overall eye appeal is terrific. This specimen is the only 1826 half eagle to be awarded a gold CAC sticker (9/16). This piece has been off the market for 26 years and we expect intense competition from series enthusiasts when this lot is called. Population: 3 in 62, 5 finer (9/16).
Ex: Auction '90 (RARCOA, 8/1990), lot 942.
From The Hutchinson Collection.