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Lot
7790

1832 $5 13 Stars MS65 NGC....

2005 February Long Beach Signature Sale #366

 
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Auction Ended On: Feb 24, 2005
Item Activity: 9 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Finest Certified Gem Quality 1832 13 Stars Half Eagle, MS65
1832 $5 13 Stars MS65 NGC. The 1833 Mint Report, submitted by Mint Director Samuel Moore on January 19, 1833, records some fascinating statistics for the gold coinage of the previous year. Director Moore reported that the Mint produced 157,487 half eagles in 1832, for a total face value of $787,435.
"Of the amount of gold coined within the past year, about $80,000 were derived from Mexico, South America, and the West Indies; $28,900 from Africa; $678,000 from the gold region of the United States; and about $12,000 from sources not ascertained.
"Of the amount of gold of the United States, above mentioned, about $34,000 may be stated to have been received from Virginia; $458,000 from North Carolina; $45,000 from South Carolina; $140,000 from Georgia; and about $1,000 from Tennessee.
"It is rendered highly probably, by estimates entitled to great respect, that the quantity of gold of the United States delivered at the Mint within the last year does not much exceed the one-half of the production from the mines--nearly an equal amount being supposed to have been exported uncoined, or employed in the arts. If this conjecture be nearly correct, the production of the gold from the United States during the year has not been less than a million and a quarter of dollars. This may be regarded as equal to one-sixth part of all the gold produced within the same period, from the mines of Europe and America, estimated according to the results of recent years, as given by the best authorities."
Although there remains the question of the fate of so many gold coins, given the small number that survive today, the interesting statistics regarding the source of the gold are fascinating, especially in the years prior to the great California gold discovery. It is known that these coins are quite rare today. Since February 1993, we have only handled nine examples of this 1832 13 Stars variety half eagle, and seven of those were in the Mint State grades, showing that the few survivors were certainly the result of hoarding at the time they were minted. And yet, this is the first time that we have handled a Gem quality Mint State example in the last dozen years.
This is an immaculate example with brilliant greenish-yellow gold color and pristine surfaces. The fields are reflective with satiny luster. Although not fully struck, nearly all of the design elements are boldly rendered. Only slight weakness is visible among the wing feathers to the left of the shield. The dies are nearly perfect, with a tiny die crack from the border to star 9. This is a splendid coin and a remarkable opportunity for the advanced collector.(#8156) (Registry values: P6) (NGC ID# 25RG, PCGS# 8156)

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