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Lot
5837

1818 $5 STATESOF MS63 PCGS. BD-2, R.4....

2012 October 18-21 ANA US Coins Signature Auction - Dallas #1175

 
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Auction Ended On: Oct 19, 2012
Item Activity: 12 Internet/mail/phone bidders Number of Bidders
1,007 page views
Location: Dallas Convention Center
650 S. Griffin Street
Dallas, TX 75202

Description:
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1818 Capped Bust Left Five, MS63
Popular
Guide Book Variety, BD-2
Only Six Finer Coins at PCGS
1818 $5 STATESOF MS63 PCGS. BD-2, R.4. Bass-Dannreuther Die State c. A substantial mintage of 48,588 half eagles was achieved in 1818, with three die varieties known for the date. The coin offered here represents the extremely popular BD-2 variety, with no space between the words STATES and OF on the reverse. The STATESOF variety is seen a little more often than the other two varieties, but it remains quite scarce in absolute terms. John Dannreuther estimates the BD-2 accounted for 25,000-35,000 pieces of the reported mintage, with a surviving population of 100-125 examples in all grades. Specimens in Select Mint State condition are very rare.
The BD-2 emission was the only use of both the obverse and reverse dies. This coin exhibits a prominent obverse die crack that bisects the surfaces' from the rim near star 6 to the rim below the final 8 in the date. This was clearly the terminal state of the obverse die, but the reverse displays no signs of damage. Perhaps the reverse die was discarded when mint personnel noticed the STATESOF error, as undamaged reverse dies were usually employed from year to year, until they failed. All examples seen have the reverse die rotated 45 degrees in a clockwise direction. The STATESOF variety is listed on page 256 of the 2013 Guide Book.
The present coin is an attractive Select specimen, with vibrant mint luster and exceptional eye appeal. The design elements are sharply detailed in most areas with just a touch of the typical softness on the eagle's claws. The pleasing yellow-gold surfaces are highlighted by hints of rose. This coin will be a welcome addition to a fine collection of early U.S. gold. Population: 2 in 63, 6 finer (8/12).(Registry values: P4) (PCGS# 8121)

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