1834 G$5 Plain 4, 4 Left of Curl, HM-1, JD-2, R.7 as a Proof, PR62 Cameo PCGS....

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1834 Classic Head Half Eagle, PR62 Cameo
Very Rare Early Proof Issue
Plain 4, HM-1, JD-2

1834 G$5 Plain 4, 4 Left of Curl, HM-1, JD-2, R.7 as a Proof, PR62 Cameo PCGS. By 1834 the melt value of old-tenor gold coins had risen far above their face value. Many of the older coins were relegated to the fiery furnace, lost forever to numismatic posterity. The Mint issued a new Classic Head design for quarter eagles and half eagles; the eagle had not been minted since 1804 and would not be coined again until 1838. To stop the widespread hoarding and melting, the fineness of the half eagle was reduced and the net gold content cut by about a half-gram, proportionally so for the quarter eagle. The motto IN GOD WE TRUST was omitted--not to reappear on coinage until near the end of the Civil War--to help the populace easily distinguish the new, reduced-content coins from the old.

The Philadelphia Mint struck a small number of proofs of the new design, some specifically for inclusion in the diplomatic presentation sets that were sent to various foreign rulers as part of trade negotiations (the sets also included examples of the famous 1804 dollar). In his United States Proof Coins, Volume IV: Gold, John Dannreuther estimates the mintage at just 15 pieces. Two pairs of dies were used to strike the proofs, which were struck to order at different times during the year. This coin represents the JD-2 variety, with the 4 in the date under the left side of the curl and a tongue in the eagle's mouth. There is a "script" 8 in the date and the lowest arrowhead touches the second A in AMERICA. Dannreuther estimates only 3 to 4 examples of the JD-1 and 8 to 10 examples of the JD-2 are extant in all grades today. PCGS and NGC have combined to certify nine examples between them, including an unknown number of resubmissions and crossovers (11/24). A single coin is included in the National Numismatic Collection at the Smithsonian Institution. We have listed all examples known to us in the roster below.

The present coin is a spectacular PR62 example, with razor-sharp definition on all design elements. The deeply reflective fields contrast boldly with the richly frosted devices to produce a dramatic cameo effect. A few minor nicks and hairlines are evident in the fields on close inspection, but the only reliable pedigree marker is an angling mark on Liberty's chin. Overall eye appeal is outstanding. This coin is pictured on PCGS CoinFacts and is the JD-2 plate coin for United States Proof Coins, Volume IV: Gold. Population: 1 in 62 Cameo, 2 finer (11/24).

Roster of 1834 Classic Head Half Eagles, Plain 4 Proof
This roster was compiled by Ron Guth and The Numismatic Detective Agency. Grades are per the last auction appearance, unless a subsequent certification event is known.
1. PR65 Cameo PCGS. JD-2. Part of a complete set of US Proof coins by special agent Edmund Roberts on 4/6/1836; King Ph'ra Nang Klao (Rama III) of Siam; King Rama III; King Rama IV; Anna Leonowens and her descendants (per the following); David Spink, purchased in 1962 and displayed at the 1962 American Numismatic Association in Atlanta, Georgia; Lester Merkin, sold privately in 1979; Elvin I. Unterman Collection, loaned to the Smithsonian Institution for display from 1983 to 1984; (Bowers and Merena, 10/1987), lot 2209; Partnership of Rarities Group and Continental Rarity Coin Fund 1 (via Stack's); Father Flanagan's Boys Home (Superior, 5/1990), lot 3364; Partnership of Iraj Sayah and Terry Brand (Superior, 1/1993), lot 1196; Spectrum Numismatics and Mike's Coin Chest, sold in 2001 to an anonymous collector via Spectrum Numismatics and Mike's Coin Chest for a price reported to be in excess of $4.14 million; Goldberg Auctions, sold privately in 11/2005; Rare Coin Wholesalers, purchased on 11/1/2005 for a reported $8.5 million; Tyrant Collection, (displayed at the 8/2021 ANA Convention.
2. PR64 Deep Cameo Uncertified. JD-1. Mint Cabinet Collection, presumably among the coins transferred from Adam Eckfeldt in 1838; National Numismatic Collection at the Smithsonian Institution (accession #1985.0441.0259).
3. PR63 Cameo PCGS. JD-2. Tampa FUN (Heritage, 1/2011), lot 5334, $109,250.
4. PR63 Ultra Cameo NGC. JD-2. Auction '90 (David W. Akers, 8/1990), lot 1896, $48,400; Kingswood VI (Kingswood, 6/1998), lot 665, $48,400; Lisa L. Collection (Heritage, 7/2008), lot 1963, not sold; FUN Platinum Night (Heritage, 1/2012), lot 4872, not sold; Blue Ridge Collection (Heritage, 5/2023), lot 3236, $360,000.
5. Proof Uncertified. JD-2. Jerome Kern Collection (B. Max Mehl, 5/1950), lot 365, $73; John Jay Pittman Collection, Part I (David W. Akers, 10/1997), lot 934, $35,750.
6. PR63 Uncertified. Possibly JD-1. Possibly from John Zug, 1941; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 400, $11,000. Akers did not consider this a Proof (per the Auction '90 catalog).
7. PR62 Cameo PCGS. JD-2. James A. Stack, Sr. Collection (Stack's, 10/1994), lot 1077, $29,700; FUN Signature (Heritage, 1/2004), lot 3045, $63,250; Dr. Robert J. Loewinger Collection (Heritage, 1/2007), lot 3126, $92,000. The present coin.
8. PR62 NGC. JD-2. Edmonton Sale (Bowers and Merena, 3/1993), lot 1381, $24,200.
9. PR61 Cameo PCGS. JD-1. Possibly Louis E. Eliasberg, Sr. Collection duplicate (New Netherlands 49th sale, 6/1957), lot 386; ANA Signature (Heritage, 10/2012), lot 5853, $76,375.
10. PR60 Uncertified. JD-1. Jascha Heifetz Collection (Superior, 10/1989), lot 4369, $13,750.
11. Proof details PCGS. JD-2. 65th Anniversary Sale (Stack's, 10/2004), lot 2060, $27,600; Chicago Platinum (Heritage, 8/2011), lot 7550, $25,300; Spring Auction (Stack's Bowers, 3/2024), lot 4281, $78,000.
From The McCoy Family Collection.

Coin Index Numbers: (Variety PCGS# 106721, Base PCGS# 88180)

Weight: 8.36 grams

Metal: 89.92% Gold, 10.08% Copper

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