Remarkable Gem 1805 Close Date Five, BD-2

1805 $5 MS65 NGC. Close Date, Breen-6445, BD-2, R.4. Bass-Dannreuther Obverse State e/f, Reverse State b. The BD-1 and BD-2 1805 half eagle varieties are the so-called Perfect 1, Close Date types, sharing a common obverse and with different reverses. The other three known varieties for the 1805-dated issue are the Imperfect 1, Wide Date variants, BD-3 through BD-5.
Of the two Close Date combinations, the Bass-Dannreuther Early U.S. Gold Coin Varieties: A Study of Die States, 1795-1834 pegs the BD-1 at High R.3 (175-225 known in all grades), while the BD-2 is set at R.4 (100-200 known). In other words, the BD-2 is about twice as rare as the BD-1. In the broader context of this difficult early U.S. gold coin series, however, the BD-2 is considered very scarce, and the Gem quality of the present offering catapults it into the very rare to extremely rare category, conditionally speaking.
On the obverse of this variety, which is shared with the BD-1, the 1 in the date is perfect, of course, and its top serif touches the lowest curl of the hair. The flag of the 5 is buried in the drapery, and star 13 is embedded in the bust of Liberty. Star 8 is quite close to but not touching the cap, and star 9 touches the right branch of the Y in LIBERTY.
The reverse die is shared among the BD-2 and the three Imperfect 1, Wide Date 1805 varieties, as mentioned, plus the 1806 Pointed 6, BD-1. The I in AMERICA is free of the nearby leaf, and IT in UNITED are separated.
Harry Bass, Jr., never having to confine his collecting interests due to budgetary concerns, owned a remarkable seven examples of this variety. According to Bass-Dannreuther, "The attraction no doubt was due to the fact that this hardy reverse die was used for four more varieties and the obverse die shattered. Seeing varieties progress through states, especially those with multiple die combinations, enthralled Harry Bass. He put the pieces together like a jigsaw puzzle and every time a new state was encountered, he could put another notch on his numismatic belt."
At this particular stage in the life of the dies, the obverse die crack through the 0 in the date, running up through the hair and to Liberty's cap, is prominent. A second crack extends from star 13 through the center, but the crack through its ultimate destination, star 4, is not yet seen. Die rust appears boldly through the LI, and much of LIBERTY shows clashing from the reverse. The reverse, as well, shows considerable clashing through the lower tail feathers from the obverse.
This charming and interesting coin shows remarkably few abrasions of any size on either side, and its generous eye appeal and reflective fields more than merit the Gem grade assigned by NGC. Only under a loupe do a few tiny, undistracting ticks appear, mostly in the right obverse field but scarcely worthy of mention. The color is a consistent golden-orange, with a touch of hazel on the obverse high points. The strike is well-executed overall, although a touch of bluntness appears on the eagle's left wing near the shield and the claw and arrows below. A fascinating Gem example for the specialist in early die states, as well as for the date collectors of the series.
From The Laredo Collection.(Registry values: P2) (#8088)

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