1834 $5 Plain 4, HM-7, R.3, MS65 PCGS. CAC....

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1834 HM-7 Half Eagle, MS65
Rare in Gem Condition
Plain 4, Gen 3.0 Holder

1834 $5 Plain 4, HM-7, R.3, MS65 PCGS. CAC. Rich yellow-gold color presides in the fields, with some prooflikeness on each side and darker frost adorning the peripheries and devices. The B in LIBERTY is open at the bottom, and a tiny spinelike die line emits upward and right from the R. Scrutiny with a loupe reveals no contact marks worthy of mention, although a small bit of die grease is noted through the arrowheads. A boldly lustrous and appealing piece. Housed in a Generation 3.0 old green label holder.
     1834 is one of the more historic years in the annals of U.S. numismatics. More than 650,000 half eagles of the new Classic Head design by William Kneass were struck in 1834. In this year the intrinsic value (gold content) of the old-tenor gold coins exceeded their face value, leading to a tragic (for future collectors) wholesale melting of the old-style Capped Bust to Left pieces. Those pieces consisted mostly of quarter eagles and half eagles, the only gold coins that had been recently minted, since the last eagle coinage had occurred in 1804 and would not recur until 1838. In August of the following year Kneass, age 54, would suffer a debilitating stroke, and Christian Gobrecht will become de facto chief engraver. The half eagles featured a slightly reduced diameter (which would be reduced again in 1840 with the Liberty Head design) and omitted the motto IN GOD WE TRUST, supposedly making it easier for users to distinguish the two types.
     The present offering is an example of the HM-7 die marriage, which accounts for approximately 12% of 1834 half eagles. This is the Small Plain 4 variety, which exhibits a triple-punched 4 that is close to the lowest hair curl, as well as a Block 8 in the date. The eagle has no tongue on the No Motto reverse.
     The Plain 4 variety is easier to find in Mint State than the Crosslet 4, but most Uncirculated examples range from MS62 to MS64. Gem pieces, such as the present example, are nonetheless quite rare. The combined PCGS and NGC population data attest to this elusiveness. PCGS has given the grades of MS64 and MS64+ 49 times, but has only bestowed Gem status on five certifications, with finer encapsulations comprising just two in 65+ and three in 66. NGC has assigned the grades of MS64, MS64★ , and MS64+ 54 times, but has awarded Gem status a mere seven times, with finer certifications comprising just one in 65* and one in 65+ (7/26). Given its position near the pinnacle of the grading distribution, this coin represents an ideal opportunity for the Registry Set collector.

Coin Index Numbers: (NGC ID# E2KE, Variety PCGS# 765197, Base PCGS# 8171, GSID# 376234)

Metal: 89.92% Gold, 10.08% Copper
Weight: 8.36 grams
AGW: 0.24169oz
Mintage: 657,460

View Certification Details from PCGS