1834 $5 Plain 4 MS64+ PCGS Secure. CAC. Second Head, Breen-6502, McCloskey 2-A, R.1....

Description

1834 Classic Head Half Eagle, MS64+
Plain 4, Second Head, McCloskey 2-A

1834 $5 Plain 4 MS64+ PCGS Secure. CAC. Second Head, Breen-6502, McCloskey 2-A, R.1. Because of a rise in the price of gold vs. silver on the open market in the early 19th century, all old-tenor U.S. gold coins were overvalued, causing wide spread hoarding and melting and severely restricting circulation. To remedy the situation, Congress adjusted the specifications for all gold coinage in 1834, to reduce the gold content and ensure the intrinsic value of each coin was equal to its face value. The Classic Head design was introduced to signify the change in weight, and U.S. gold coinage began to circulate freely for the first time since 1821.

The present coin is a Plus-graded Choice specimen with well-detailed design elements that show the slightest touch of softness on the juncture of the shield and eagle's feathers on the left. The D in UNITED shows some repunching. The canary-yellow surfaces are well-preserved and exhibit a mix of satiny mint luster and prooflike reflectivity throughout. Eye appeal is extraordinary. Population: 41 in 64 (4 in 64+), 6 finer. CAC: 13 in 64, 2 finer (10/17).
Selections from The McCoy Family Collection of U.S. Early Gold. (Registry values: P1)

Coin Index Numbers: (NGC ID# E2KE, PCGS# 8171, Greysheet# 8856)

Weight: 8.36 grams

Metal: 89.92% Gold, 10.08% 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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