1804 $5 Small Over Large 8, BD-5, High R.6, AU55 Prooflike NGC. VP-001....

Description

1804 BD-5 Half Eagle, AU55 Prooflike
Small Over Large 8

1804 $5 Small Over Large 8, BD-5, High R.6, AU55 Prooflike NGC. VP-001. HBJ-227. Lovely light yellow surfaces are fully mirrored around satin devices. Trivial marks that are consistent with the grade.
Variety Equivalents: Adams-5, Breen (new varieties) 1-E, Miller-61, Bass-3085.
Obverse Die: This is the first use of the obverse that reappears on BD-6 and BD-7.
Reverse Die: The final use of the workhorse reverse die that saw production of two 1803-dated half eagle varieties and four 1804 die marriages.
Bass-Dannreuther Die State a/k: The obverse is perfect. The reverse is cracked as Dannreuther describes for 1803 varieties BD-3 and BD-4. Further heavy clash marks are noted.
NGC Census Data (10/25): The three varieties of 1804 Small over Large 8 half eagles include 12 examples graded AU55 and 57 numerically finer pieces. However, this one is the only submission awarded the Prooflike designation in any grade.
Significant Examples: The Jacobson Collection coin is the eight finest known to us.
Breen (1966): Breen was aware of both the obverse and reverse dies although he was unaware of this combination of those dies. In his New Varieties update, Breen mentioned that the Norweb Collection had two examples from this die marriage. However, the die pair did not appear in the October 1987 sale of that collection.
Bass-Dannreuther (2006): "This is the famous small over large 8 obverse die, herein called Normal/Large 8, a popular recutting although not particularly scarce when combined with different reverses for the next two varieties. This combination with this reverse, however, is rare, with 15 to 18 examples believed to exist."
Heritage Commentary: Our roster shows 10 examples of this rare variety, and a few more may be hidden in older auction offerings. John Dannreuther's estimate of 15 to 18 known is high, in our opinion, and the variety is probably borderline R.7.
Doug Winter Commentary: There are three different die varieties of the fascinating 1804 "Normal/Large 8" half eagles. What was going through the engraver's mind when he tried to cover up a too-large 8 with a smaller ill-fitting 8? Did he think no one was going to see this? And he had the audacity to use it three different times including once with a left-over reverse from 1803. The U.S. Mint circa 1804... FUN TIMES!
Provenance: Recorded below.

A Roster of Significant Examples
1. MS66 PCGS. Farish (William Gustav "Bill") Baldenhofer Collection (Stack's, 11/1955), lot 1213; Norweb Collection, Part I (Bowers and Merena, 10/1987), lot 750, $57,200; Harry W. Bass, Jr. Core Collection (Heritage, 8/2023), lot 9040.
2. MS64 PCGS. James A. Stack, Sr. Collection; James A. Stack, Sr. Collection (Stack's, 10/1994), lot 1043, $20,900; Oliver Jung Collection (American Numismatic Rarities, 7/2004), lot 91, $48,300; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2085, $94,000.
3. MS63 PCGS. Long Beach Signature (Heritage, 5/2008), lot 3179, $37,375.
4. MS63 PCGS. Voigt et al. Collections (Bowers and Merena, 3/1999), lot 2450, $10,350.
5. MS62 PCGS CAC. March Baltimore (Stack's Bowers, 2/2012), lot 4301, $24,265; Dallas Signature (Heritage, 11/2018), lot 3227, $22,800; Naples Collection, Part II (Legend Rare Coin Auctions, 1/2022), lot 215, $34,075; Chicago Collection (PCGS Set Registry).
6. MS62 NGC. Baltimore Signature (Heritage, 7/2003), lot 10263, $10,638.
7. AU58 PCGS. Frederic W. Geiss Collection (B. Max Mehl, 2/1947), lot 1658, $55; Harold S. Bareford Collection (Stack's, 12/1978), lot 155; Harry W. Bass, Jr. Collection, Part II (Bowers and Merena, 10/1999), lot 756, $9,200; Waccabuc Collection (Stack's, 11/2007), lot 1117, $31,050; Chicago ANA (Stack's Bowers, 8/2014), lot 13208, not sold; Chicago ANA (Stack's Bowers, 8/2015), lot 10242, $16,450.
8. AU55 Prooflike NGC. Bowers and Merena (8/2009), lot 4488. The present specimen.
9. AU55 PCGS. FUN Signature (Heritage, 1/2013), lot 7085, $11,750.
10. AU Details -- Improperly Cleaned -- NGC. Pre-Long Beach (Goldberg Auctions, 2/2012), lot 1453, $6,613.
From The Harvey B. Jacobson, Jr. Collection of Early Half Eagles.

Coin Index Numbers: (Variety PCGS# 519895, Base PCGS# 8086, Greysheet# 198207)

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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