1811 $5 Small 5, BD-2, R.3, MS64+ PCGS. CAC....

Description

1811 Small 5 Half Eagle, BD-2, MS64+
The Magnificent Starr-Pogue Coin

1811 $5 Small 5, BD-2, R.3, MS64+ PCGS. CAC. Bass-Dannreuther Die State e/b, clashed with a faint crack connecting stars 8 to 10. The lot description for this coin in the 1938 Barney Bluestone sale was rather terse: "1811, Small 5 on Rev. Unc. (Plate)." The coin realized $18.25, a strong price for the time, driven by its incredible quality and eye appeal; even in the 81-year-old Bluestone plate, the intense luster of this piece is readily apparent. Today, certified as one of the finest 1811 Small 5 half eagles known, it remains every bit as lustrous as it was in 1938.

Catalogers such as W. Elliot Woodward began to recognize reverse die varieties of the 1811 half eagle as early as the 1880s, stemming from research done by John Colvin Randall and others, and descriptions grew more detailed into the infancy of the 20th century, most notably in S.H. Chapman catalogs. Woodward and Chapman focused primarily on the width of the fraction, not the size of the 5 therein. Our modern nomenclature has its roots in the notes of William H. Woodin, who's extensive early half eagle collection contained three 1811 coins -- one with a "Small 5 in value" and two with a "Large 5 in value," as denoted in the 1914 ANS Exhibition catalog.

Famed early gold specialist Harry W. Bass, Jr. had two examples of the Small 5 variety, which is denoted BD-2 in John Dannreuther's 2008 reference work. Bass's notes on this variety were more descriptive than those of early lot descriptions and even surpassed the studies of Woodin and others:

"Small numerals. Faint shield clash below ear; faint clash evidence at junction of bust line and lowest left curl. Lapped. REV: Small 5, as used for 1810 reverse B. C recut. Vertical lump on beak below nostril."

The Small 5 punched is the same that was used in 1810, but the 1811 reverse is a different die, only seen in this die pairing. It shares the sole 1811 obverse die with the Tall 5 reverse. It appears that the Tall 5 variety was struck first, until the reverse die was retired due to cracking and heavy clash marks. The Small 5 reverse was then swapped in. These two die pairings are responsible for all 99,581 half eagles reportedly struck in 1811.

BD-2 is more slightly more plentiful than the Tall 5 variety (BD-1), but in high grade, neither variety will be easily acquired. That is where the Pogue Small 5 coin emerges into the spotlight. It is the single finest PCGS-graded Small 5 coin ever offered at auction, and it is tied as the finest certified on the PCGS Population Report. PCGS reports 22 Small 5 coins in MS64, five of which are Plus-designated. However, since our Permanent Auction Archives began in 1993, we have seen no more than five PCGS-graded near-Gems come to auction, and none of them were Plus-graded. The Pogue coin represents a key opportunity for the advanced type collector to not only acquire one of the finest-known examples of this issue, but also one of the most famous pieces. It glistens with original greenish-gold mint luster, yielding deeper peach-orange hues in the fields and design recesses. Every detail is struck to the full depth of the dies, and under a loupe the keen eye can see only the faintest field grazes, which in their presence only serve to highlight the glistening nature of the luster that surrounds them. An incredible type coin and the prize of a lifetime for the early half eagle variety specialist.
Ex: 41st Sale (Bluestone, 10/1938), lot 1233; Floyd T. Starr (Stack's, 10/1992), lot 1198; Paul Nugget (7/2001); D. Brent Pogue Collection, Part III (Stack's Bowers, 2/2016), lot 3142.

Coin Index Numbers: (NGC ID# BFXR, Variety PCGS# 507599, Base PCGS# 8109, GSID# 315463)

Metal: 91.67% Gold, 8.33% Copper
Weight: 8.75 grams
AGW: 0.25789oz
Mintage: 99,581

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.

View Certification Details from PCGS

View Certification Details from CAC sticker