1826 $5 BD-1, R.5, MS61 PCGS....

Description

1826 BD-1 Half Eagle, MS61
Large Letters Reverse

1826 $5 BD-1, R.5, MS61 PCGS. HBJ-260. This fully lustrous Mint State example features brilliant butter-yellow surfaces with full luster. The high points of the obverse are a trifle blunt. Scattered marks are expected at the MS61 grade level, although only a thin scratch from the corner of Liberty's eye past the mouth to the chin is notable for pedigree research.
Variety Equivalents: Adams-1, Breen 1-A, Miller-150, Bass-3148.
Obverse Die: This is the only use of the obverse die.
Reverse Die: The reverse die appears in multiple variants, including 1820 BD-4, 1820 BD-5, 1820 BD-7, 1825 BD-3, and 1826 BD-1.
Bass-Dannreuther Die State a/e: There is no evidence of clash marks, die cracks, or lapping on the obverse. The reverse is lapped as John Dannreuther explains, as this is the final use of 1820 Reverse D that was used earlier for 1820 BD-4, BD-5, and BD-7.
PCGS Population Data (10/25): This example is the only 1826 half eagle graded MS61 with just 10 finer submissions.
Significant Examples: The Jacobson Collection coin is recorded as the ninth finest in our roster of the top 12 examples of 1826 BD-1 half eagles.
Breen (1966): Breen mentioned many records for Choice Uncirculated examples and noted that few circulated examples are known: "I would guess that about two dozen more or less uncirculated ones are around, possibly as many as thirty, the majority of them choice to gem level."
Bass-Dannreuther (2006): "Little attention has been paid to the varieties of this year. This combination is rare, while the next variety (BD-2) is exceedingly rare with only three examples currently verified."
Heritage Commentary: The BD-1 is the "common" 1826 half eagle variety. John Dannreuther estimates that 30 to 40 examples are known in all grades while PCGS estimates that 30 to 35 examples survive. Nearly all surviving examples are in Mint State grades. The PCGS population report records one AU55, three AU58, and 14 pieces that grade MS60 to MS66. A single proof is known despite a comment from the late David Akers who wrote that several proofs are known.
Doug Winter Commentary: The surfaces are a bit too busy to grade MS62 or even MS63 but this is a great looking frosty example with nice yellow and greenish-gold color. I sold this coin to Paul McCoy after buying it for $47k as Heritage 4/2014: 5731. It sold again five+ years later for $57,600.
Provenance: Recorded in the following roster.

Roster of Significant Examples of 1826 BD-1
1. Proof. National Numismatic Collection; Smithsonian Institution.
2. MS66+ PCGS. Matthew A. Stickney Collection; Stickney Estate (Henry Chapman, 6/1907), lot 668; William Forrester Dunham; Dunham Estate; B. Max Mehl (6/1941), lot 2099; Louis E. Eliasberg, Sr.; New Netherlands Coin Company (6/1957), lot 381; Alex Shuford Collection (Abe Kosoff, 5/1968), lot 1958; David Akers (5/1996); D. Brent Pogue Collection (Stack's Bowers, 5/2016), lot 4031.
3. MS65 PCGS. CAC. Heritage (1/1998), lot 7778, $87,400; McCoy Family Collection, purchased privately from Doug Winter in 2014; Heritage (8/2020), lot 3998, $264,000.
4. MS65 NGC. Superior (2/1999), lot 3186; Donald E. Bentley; Bentley Foundation/ANA Signature (Heritage, 2/2014), lot 4115, $235,000.
5. MS64 PCGS. Superior (7/1993), lot 886; Margene Heathgate Collection (Superior, 6/1997), lot 1490.
6. MS64 NGC. Richmond Collection (David Lawrence, 6/2004), lot 1316.
7. MS62+ PCGS. CAC. Amon Carter, Jr. Family Collection (Stack's, 1/1984), lot 661; Bowers and Merena (1/1991), lot 145; Harvey B. Jacobson, Jr./FUN Signature (Heritage, 1/2012), lot 4677, $80,500.
8. MS62 PCGS. Gold CAC. Auction '90 (RARCOA, 8/1990), lot 942; FUN Signature (Heritage, 1/2017), lot 5876, $111,625; Long Beach Signature (Heritage, 2/2023), lot 3807, $162,000.
9. MS61 PCGS. Abner Kreisberg Corporation, purchased on June 21, 1983 for $15,000 by the owner of the Beverly Hills Collection; Long Beach Signature (Heritage, 2/2005), lot 7788; Central States Signature (Heritage, 4/2014), lot 5731, where it realized $47,000; The McCoy Family Collection (Heritage, 8/2020), lot 3997, $57,600. The present specimen.
10. MS60 PCGS. Heritage (2/2024), lot 3162, $63,106.
11. MS60 PCGS. A. Bernard Shore Collection (Superior, 1/1988), lot 4133; Keston Collection (Superior, 1/1996), lot 116; Stack's (5/2003), lot 2375.
12. MS60. William Hesslein (11/25/1919); Garrett Collection (Bowers and Ruddy, 11/1979), lot 468.
From The Harvey B. Jacobson, Jr. Collection of Early Half Eagles.

Coin Index Numbers: (Variety PCGS# 519937, Base PCGS# 8135, Greysheet# 351792)

Weight: 8.75 grams

Metal: 91.67% Gold, 8.33% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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