1824 $5 BD-1, High R.5, MS60 NGC. CAC....

Description

1824 BD-1 Half Eagle, MS60
CAC Approved
An Underrated Rarity

1824 $5 BD-1, High R.5, MS60 NGC. CAC. HBJ-258. While NGC assigned the basic MS60 grade to this important half eagle, CAC opined that its aesthetic appeal is worthy of their approval. Both sides are lustrous with bright green-gold surfaces and strong design definition.
Variety Equivalents: Adams-1, Breen 1-A, Miller-147, Bass-3146.
Obverse Die: This is the only use of the obverse die.
Reverse Die: This reverse die is found in six die marriages: 1820 BD-9, 1821 BD-1, 1821 BD-2, 1822 BD-1, 1823 BD-1, and 1824 BD-1.
Bass-Dannreuther Die State a/b: Apparently the only recorded die state with a perfect obverse and clashed reverse, although evidence of those clashmarks is unapparent.
NGC Census Data (10/25): In addition to eight submissions given an Uncirculated details grade, NGC has certified this lone MS60 example along with seven finer Mint State pieces.
CAC Census (10/25): This is the lone MS60 example from a total population of seven coins that CAC has approved or graded. Other pieces include four examples stickered (MS62, MS64 - 2, MS65) and one graded (MS63). They have also certified one "details" grade coin.
Significant Examples: The Jacobson Collection coin is the ninth finest of 10 Mint State examples in our survey of the top 1824 BD-1 half eagles.
Breen (1966): Breen observed that a single proof was known, and the rest are mostly uncirculated. In his 1966 monograph, he itemized 10 different examples of the single variety known for the 1824 half eagles.
Bass-Dannreuther (2006): "Coins of this date are much more difficult to locate than those dated 1823; they are more than twice as rare as that date. A census is difficult, as many of the coins have appeared multiple times at auction, making the date/variety appear more available than it really is."
Heritage Commentary: A detailed study of the six varieties sharing this reverse die may help us learn the order of striking. Dannreuther identified 1824 as the final use of the reverse die. He also notes that the reverse on 1822-dated coins appears to be a later state than is seen on the 1823 half eagles. For several of the mid-1820s half eagles, additional study is worthwhile, although the small number of survivors for most of those years will limit what can be learned.
Doug Winter Commentary: Like the 1821 above, the Jacobsen 1824 is a huge rarity in a decade full of legendary half eagles. This date tends to come beat-up or Gemmy which makes this cosmetically appealing MS60 coin quite the anomaly.
Provenance: Recorded in the following roster.

A Roster of Significant Examples
1. MS65 NGC. J. Colvin Randall Collection (George Cogan, sold privately on 3/23/1882; T. Harrison Garrett Collection; Robert Garrett Collection; John Work Garrett Collection; Johns Hopkins University Collection, Part I (Bowers and Ruddy, 11/1979), lot 466, $47,500; Auction '90 (Superior, 8/1990), lot 1318, $68,750; Pre-Long Beach (Superior, 5/2001), lot 4045, not sold; Benson Collection, Part II (Goldberg Auctions, 2/2002), lot 1998, $66,125; FUN Signature (Heritage, 1/2014), lot 5430, $199,750.
2. MS64+ PCGS. Upstate NY Collection; Bill Epstein; Fred E. Davies Collection, by sale, via David Akers (Paramount, 2/1975), lot 557; R.E. "Ted" Naftzger, Jr. Collection (Paramount's fixed price list of the R.E. Naftzger, Jr. Collection of Early U.S. Half Eagles, 1981, 1/1981); Paramount (David Akers), sold privately in 4/1982; D. Brent Pogue Collection, Part IV (Stack's Bowers & Sotheby's, 5/2016), lot 4028, $135,125.
3. MS64+ PCGS. FUN Sale (Federal Brand, 1/1963), lot 4183, $6,750; NASCA 17th Annual Convention (RARCOA, 2/1972), lot 869, $8,000; Long Beach Signature (Heritage, 2/2009), lot 2685, $126,500; Joan Zieg Steinbrenner Collection (Heritage, 8/2019), lot 3871, $132,000.
4. MS64 PCGS. Superior (2/1998), lot 3399, $62,700; Pre-Long Beach (Superior, 9/1999), lot 1985, $55,200; Public Auction Sale (Stack's, 10/2005), lot 1236, $86,250; Pre-Long Beach (Goldberg Auctions, 2/2006), lot 1069, $115,000.
5. MS63 PCGS CAC. William Cutler Atwater Collection (B. Max Mehl, 6/1946), lot 1641; Amon G. Carter, Jr. Family Collection (Stack's, 1/1984), lot 660, $19,250; Auction '87 (Paramount, 7/1987), lot 419, $18,150; Harvey B. Jacobson, Jr. Collection (Heritage, 1/2012), lot 4675, $126,500; Lockhart Collection, Part II (Heritage, 1/2019), lot 4661, $114,000; D.L. Hansen Collection (PCGS Set Registry).
6. Brilliant Uncirculated Uncertified. Lawrence C. Licht Collection (Stack's, 3/2005), lot 1935, $69,000.
7. MS62 PCGS. F.C.C. Boyd Collection ("World's Greatest Collection"), lot 372; Dr. Clifford E. Smith and Son Collection (Stack's, 5/1955), lot 1686; 1976 ANA (Stack's, 8/1976), lot 2940, $15,000; Auction '87 (Paramount, 7/1987), lot 420, $15,400; Auction '90 (David W. Akers, 8/1990), lot 1894, $11,000; Red Bank Collection (American Numismatic Rarities, 12/2003), lot 940, $48,300; J.A. Sherman Collection (Stack's, 8/2007), lot 3220, $86,250; McCoy Family Collection (Heritage, 8/2020), lot 3995, $66,000; D.L. Hansen Collection (PCGS Set Registry).
8. MS62 Uncertified (grade per Jeff Garrett). National Numismatic Collection at the Smithsonian Institution (ID #1985.0441.0193).
9. MS60 NGC. CAC. Harvey B. Jacobson, Jr., purchased privately on November 15, 2019. The present specimen.
10. MS60 PCGS. Robert Marks Collection (Bowers and Ruddy, 11/1972), lot 1143; Harry W. Bass, Jr. Core Collection (Heritage, 8/2023), lot 9056.
From The Harvey B. Jacobson, Jr. Collection of Early Half Eagles.

Coin Index Numbers: (Variety PCGS# 519933, Base PCGS# 8132, Greysheet# 351789)

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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