1818 $5 STATESOF MS63 PCGS. CAC....

Description

Original 1818 STATESOF Half Eagle, BD-2, MS63

1818 $5 STATESOF MS63 PCGS. CAC. STATESOF, Breen-6470, BD-2, R.4. Bass-Dannreuther Obverse State c. Star 13 is far above the lowest curl, but the most distinctive feature of this pairing is the STATESOF reverse, with little space between the two words. TAT is widely spaced.
There are only three reverses known for the 1818 half eagle--the STATESOF reverse (BD-2), the 5D over 50 reverse (BD-3), and the normal reverse (BD-1), each paired with a different obverse die. The BD-1 is unusual in that every star is produced with the "secret star punch" of Mint assistant engraver John Reich--who had quit the previous year after exactly 10 years of service with no pay raises and working as chief engraver but getting paid as assistant engraver.
The BD-2 STATESOF is a popular Guide Book-listed variety, which further increases its appeal among the many collectors of such coins (that reference actually lists all three die marriages for the year, although the 2010 edition shows no premium for one over another). Bass-Dannreuther list it as R.4 (100-125 known), compared to R.5 (35-45 known) for the BD-3 and R.5 (50-65 known) for the BD-1.
The authors note that the STATESOF variety is "one of the most popular of the early varieties, although its rarity has obviously been overstated." Harry W. Bass, Jr. owned five examples of this variety, noting that all seen (including the present coin) have the reverse rotated 45 degrees clockwise.
The obverse of this piece is in the terminal die state, showing a small horizontal clash mark beneath the bust and a long, bisecting die crack that begins at the rim below the last 8, passing through that digit and then all the way to the other side at 11 o'clock. This piece has marvelous original skin that features soft, frosted luster over orange-yellow surfaces. The strike is close to full, save for minor softness on the eagle's left (facing) wing. No singular abrasions or adjustment marks appear.(Registry values: P4)

Coin Index Numbers: (NGC ID# BFXY, PCGS# 8121, GSID# 8822)

Metal: 91.67% Gold, 8.33% Copper
Weight: 8.75 grams
AGW: 0.25789oz

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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