1828 $5 BD-3, R.8, MS61 PCGS....

Description

1828 BD-3 Half Eagle, MS61
One of Two Pieces Confirmed to Exist
The Only Coin Available to Collectors

1828 $5 BD-3, R.8, MS61 PCGS. Ex: Harry W. Bass, Jr. Collection. Bass-Dannreuther Die State a/a. BD-3 is the second rarest of four die pairs for the 1828 half eagle. And that is only because the rarer variety, BD-2, is unique. BD-3 is R.8. It has been said that possibly as many as four BD-3 coins exist, although that number cannot be confirmed by modern research. To our knowledge, as well as that of Ron Guth, only the Bass coin offered here can be positively identified in private hands. A second example of BD-3 is in the Smithsonian Institution, and that coin is a remarkable proof specimen, graded PR66, per John Dannreuther. As noted in the roster below, Dannreuther suggests that a coin offered in the April 1967 Kreisberg-Schulman sale could represent a third specimen, but that poor-quality plate is inclusive on that matter. Thus, as research currently stands, the Bass coin is one of just two known, and the only piece available to private collectors.

This piece first appeared in S.H. Chapman's 1907 sale of the David S. Winsor Collection, where it was described:

"Perfect date. Extremely fine. Strong impression. Proof surface. Excessively rare, only about four specimens known. Plate III."

The note about four specimens being known refers to the Perfect Date, which is seen on both BD-3 and the slightly more plentiful BD-4 (High R.6).

This piece was described in the Dunham catalog as "semi-proof" and "just about equal to a perfect brilliant proof." And in RARCOA's April 1963 sale of the J.F. Bell Collection it was called "A Brilliant Uncirculated Gem, that appears to be a Proof." There is no denying the prooflike field reflectivity and sharp strike, although this coin has traditionally been considered a circulation strike, in contrast to its twin in the Smithsonian. A hint a of cartwheel effect can be produced by rotating the coin beneath a light, revealing also a number of faint hairlines and small marks in the fields that determine the numeric grade. These attributes are the chief considerations when denying this coin proof classification. However, eye appeal is nonetheless outstanding and virtually equal to that of many low-grade proofs of the era. Rich honey-gold color adorns each side.

Only 19 to 25 1828 half eagles are believed to survive across all four varieties. This is the only BD-3 example that is known to be accessible to collectors. For the advanced half eagle collector, the Bass coin represents the opportunity of a lifetime.

A Roster of Significant Examples provided by Ron Guth of the Numismatic Detective Agency
1. MS61 PCGS. David S. Wilson (S.H. Chapman, 3/1907), lot 78, $350; William Forrester Dunham Collection, sold intact to B. Max Mehl in 1939 (B. Max Mehl, 6/1941), lot 2101, $835; J.F. Bell Collection (RARCOA, 4/1963), lot 605; Auction '81 (RARCOA, 7/1981), lot 442, $40,000; Bryan Collection (Akers, 1/1982), lot 813; Auction '88 (David Akers, 7/1988), lot 904, $42,900; NCI, sold privately on 5/23/1989; Harry W. Bass, Jr. Foundation Collection (HBCC# 3153). The present coin. The plate of this coin in the 1941 William Forrester Dunham sale is inconclusive but this coin has been plate-matched to the 1906 Wilson sale, which went to Dunham. This coin is not lot 1933 from Auction '82 (that coin was a BD-4).

John Dannreuther suggested that lot 775 in the April 1967 Kreisberg-Schulman sale might be a second example, but the plate is inconclusive in this writer's opinion.
From The Harry W. Bass, Jr. Core Collection, Part III.

Coin Index Numbers: (Variety PCGS# 519942, Base PCGS# 8138, Greysheet# 198939)

Metal: 91.67% Gold, 8.33% Copper
Weight: 8.75 grams
AGW: 0.28oz
Mintage: 28,000

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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