1823 $5 BD-1, High R.4, MS63+ PCGS....

Description

1823 BD-1 Capped Head Half Eagle, MS63+
Among the Finest Known

1823 $5 BD-1, High R.4, MS63+ PCGS. Bass/Dannreuther Die State a/a, the "perfect" obverse and reverse, i.e., struck before the dies clashed. The 1823 would be considered a rarity in almost any other series than the Capped Head half eagles from the 1820s, but it is one of just two issues from this decade -- along with the 1820 -- that is actually seen from time to time. There are an estimated 80 to 100 pieces known with around half in the various Uncirculated grades. This issue becomes rare in MS63 and it is very rare in MS64. The Pogue IV coin, lot 4027, was "only" an MS64+. The highest graded are a pair of NGC MS65s. Heritage sold one of these in its 2020 January FUN auction for $156,000, and the nicer of the two, from the Henry Miller Collection, set a record for the date when it was bid up to $299,000 in the January 2011 FUN auction.

The texture on this date tends to be less frosty than on comparable issues such as the 1820 and the 1821. This coin is satiny with slight reflectiveness in the fields. The color is natural medium green-gold that deepens to a pleasing orange-gold around the borders; the darkest areas are the left obverse and from 3 to 5 o'clock on the reverse margin. The strike shows some weakness on the curls above Liberty's ear and on the inner portion of the eagle's right wing. There are a few ticks in the fields on both sides that are consistent with the grade and we note a few light scratches on Liberty's cheek.

PCGS has graded three 1823 half eagles MS63+, and one of these recently sold for $50,400 in Heritage's Long Beach Signature (June 2020); that coin was CAC-approved. Prior to the sale of that coin, the last auction record for a PCGS MS63 was from April 2015 for $48,175 for a non-CAC example. Since the start of 2006 only four pieces have sold at auction.

This is just about as nice an example of this date as the collector is likely to find.
Ex: Pre-Long Beach Auction (Goldberg Auctions, 5/2009), lot 1227, where it sold for $33,350 (as a PCGS MS63).
From The McCoy Family Collection of Capped Head Half Eagles.

Coin Index Numbers: (Variety PCGS# 519932, Base PCGS# 8131, Greysheet# 351788)

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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