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1806 $5 Round Top 6, 7x6 Stars MS65 PCGS. CAC....

2010 January Orlando, FL FUN US Coin Auction #1136

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Auction Ended On: Jan 7, 2010
Item Activity: 5 Internet/mail/phone bidders
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Location: Orlando, FL
Gem 1806 Capped Bust Right, Heraldic Eagle Five
Only Three Examples Certified in MS65, None Finer
Round Top 6, 7x6 Stars, BD-6
1806 $5 Round Top 6, 7x6 Stars MS65 PCGS. CAC. Breen-6448, BD-6, R.2. A total of 64,093 Capped Bust Right, Heraldic Eagle half eagles were minted in 1806. Six die varieties are known for the date, including five varieties with a pointed 6 in the date, and the Round Top 6, BD-6 variety represented by the present coin. The BD-6 die marriage is the most available variety of the design type, and is a logical choice for type collectors. John Dannreuther estimates an original mintage of 35,000-50,000 pieces for the BD-6 variety, and believes 600-900 examples survive today in all grades. At the Gem level the issue is extremely rare. To date, NGC has certified two coins in MS65, with none finer; while PCGS has graded only this single specimen at the Gem level, with none finer (11/09).
One of the key features of the BD-6 variety, and of interest to advanced type collectors, is the placement of the obverse stars in a 7x6 pattern around the bust (previously the stars were arranged 8x5). Catalogers began to notice this distinctive arrangement as early as the Civil War era. For example, Lot 2760 of the Sixth Semi-Annual Sale (Woodward, 3/1865), reads, "1806 Six stars facing; fine and exceedingly rare." The lot sold to J.O. Emery for $8, a reasonable price in the 1860s.
The present coin is a pleasing Gem specimen, with terrific, sparkling mint luster. The bright yellow-gold surfaces show only a few, insignificant handling marks. The strike is sharpest in the center of the obverse, as usually seen on this issue. John Dannreuther believes the obverse die was placed in the anvil position when the Round Top 6 variety was struck, creating stronger obverse striking detail. Some softness is noted in the center of the reverse, where the wings and shield meet. Overall eye appeal is outstanding and the coin offered here is one of the finest survivors of this early half eagle issue.(Registry values: P2) (NGC ID# 25P5, PCGS# 8089)

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