The Harry W. Bass, Jr. Collection - Part II

HALF EAGLES 1795 Onward

The Bass Collection $5 Gold Half Eagles

A Memorable Offering

The present catalogue includes many $5 gold half eagles from the first date of issue, 1795, through the next several decades, although one of each die variety in the 1795-1834 range has been retained by the Harry W. Bass, Jr. Research Foundation. In his time of collecting, Harry often acquired multiples, a situation which has many benefits to bidders today.

Among Classic Head and Liberty Head half eagles 1834 onward, the present sale offers the crème de la crème of business strikes, among which will be found many Condition Census and finest known examples gathered in the three decades of Harry Bass’ connoisseurship. In many instances it is unlikely that comparable specimens will be offered at auction anytime in the near future, and for some, quite possibly not in your lifetime. Although our Part III sale will emphasize $5 Proofs, many pieces of extraordinary rarity and importance are offered here. Harry Bass’ interest in the series ended with the last year of the Liberty Head coins in 1908. The 1908-1929 Indian Head coins, which offered no variations in date logotype locations, were acquired only casually.

All told, the combination of depth and breadth of $5 gold coins, especially among issues of the 1834-1908 period, in this and our next sale, is unprecedented in numismatics.

The offering of early half eagles in the Bass Collection, beginning in 1795 and extending for the next several decades, is one of the most important and extensive ever to be showcased at auction.

Numismatic Notes

Gold half eagles were made in nine major design types, or even more if star positions are noted among the earlier issues. The standard type divisions, as widely collected today, are given below, along with commentaries.

Type I

1795-1798 Capped Bust to Right, Small Eagle

Although the Mint Act of April 2, 1792, provided for a gold half eagle of 135 grains weight, along with other denominations, coinage of gold did not commence until 1795, for the chief coiner and assayer were required to post personal bonds in the amount of $10,000 each before handling precious metals. When the Mint first produced coins for circulation in 1793 (copper cents and half cents), these requirements had not been met. By 1795 the bonds had been reduced in amount considerably, the chief coiner and assayer had fulfilled them, and gold coinage commenced.

Around May of the same year, David Rittenhouse, director of the Mint, assigned engraver Robert Scot to produce half eagle dies. Rittenhouse left the Mint at the end of June and was replaced by Henry William DeSaussure, who ordered that gold coin production should begin. On July 31st, 744 half eagles were delivered, followed by subsequent amounts through September, totaling 8,707 pieces for the year.

Believed to have been designed by Robert Scot, the 1795 half eagle is of the design designated by collectors today as the Capped Bust to Right obverse with Small Eagle reverse. Coins measure 25mm in diameter, a standard width employed for the denomination until 1829.

The obverse depicts Miss Liberty, wearing a cloth cap, facing right, with LIBERTY to the right above and the date below. The star count arrangement is typically 10 to the left and five to the right, but one variety of 1797 has 16 stars arranged, 11 to the left and five to the right.

The Small Eagle reverse motif apparently was taken from a first century BC Roman onyx cameo depicting an eagle perched on a palm branch, his wings outstretched, holding aloft a circular wreath in his beak. The inscription UNITED STATES OF AMERICA surrounds. There is no mark or indication of value on the piece. At the time, gold coins were valued in the channels of commerce by their weight and metallic content.

The coinage of 8,707 half eagles with the 1795 date was accomplished by using numerous dies, including at least nine reverses with the small eagle motif alone. Throughout the next several decades, interesting die varieties were produced, including overdates, recut letters, and differences in date size and position. Harry Bass found die varieties of early $5 coins to be especially interesting. The forthcoming sylloge or museum-style catalogue being prepared for the Harry W. Bass, Jr. Research Foundation will include much historical, technical, and numismatic information relating to these issues.

Examples of the Capped Bust to Right obverse, Small Eagle reverse design type were produced from 1795 through 1798, with the last year being a major rarity in the series–a coin of which fewer than a dozen are known to exist. The span of this design yielded a business strike mintage estimated by Walter Breen as 18,512 coins.

Today, several hundred examples survive from this modest coinage, no doubt a population somewhere in the range of several hundred coins spread over four dates. Most bear the date 1795. In absolute terms, all coins of this design are rare.

The typically encountered grade range for a half eagle of this era is VF to EF, with AU pieces coming on the market occasionally. AU and Uncirculated coins, especially those of 1795, often possess prooflike surfaces.

Type II

1795-1807 Capped Bust to Right, Heraldic Eagle

About 1798 the new Heraldic Eagle reverse was first employed for the $5 denomination. An eagle at the center, with a shield on its breast, holds arrows and an olive branch in its talons and a ribbon lettered E PLURIBUS UNUM in its beak. Above is a galaxy of stars and an arc of clouds. The inscription UNITED STATES OF AMERICA surrounds. There is no mark or indication of value.

Adapted from the Great Seal of the United States, the Heraldic Eagle design was first used on the gold $2.50 of 1796, later extending to (in denomination order) the half dime (1800), dime (1798), quarter dollar (1804), half dollar (1801), silver dollar (1798), and $10 (1797). The motif is traditionally attributed to Robert Scot. Few records exist concerning which engravers produced various dies, and today’s attributions are often educated guesses.

From 1798 through 1807, coinage of the Heraldic Eagle reverse style was continued. Many different die varieties were produced, including several overdates. At the time it was the Mint’s practice to keep earlier-dated dies on hand until they were no longer fit for service. It is believed that in 1798 the Mint combined the new Heraldic Eagle reverse with obverse dies dated 1795 and 1797, thus producing earlier-dated pieces.

The business strike mintage total for the type is 316,867. Although there are some rarities in the 1795-1807 span of this type, enough examples survive of most issues from 1798 through 1807 that the numismatist will have no difficulty acquiring a representative "type’’ specimen in Very Fine to AU preservation. Uncirculated coins come on the market occasionally and typically have frosty (rather than prooflike) surfaces.

Type III

1807-1812 Capped Draped Bust Left

In 1807, following the coinage of some of the old-style pieces, John Reich redesigned the half eagle. The new style is the forerunner of that adopted a year later for the quarter eagle. The obverse depicts Miss Liberty facing left, wearing a cloth cap inscribed LIBERTY, with seven stars to the left and six to the right.

The reverse shows an eagle perched on a palm branch, holding three arrows, with the motto E PLURIBUS UNUM on a ribbon or band above. The legend UNITED STATES OF AMERICA, 5 D. surrounds.

This new format was continued through 1812. The brief span of this design yielded a coinage estimated at 399,013 pieces.

Although there are some scarce die varieties within the 1807-1812 years, there are no rare dates. The type set collector can choose from virtually any date desired. Specimens are available in all grades, with Very Fine to AU coins appearing on the market with some frequency, (relatively speaking, of course). Mint State examples are offered now and then and, if choice in appearance, are highly prized. These typically have frosty rather than prooflike surfaces.

Type IV

1813-1829 Capped Head Left, Large Diameter

In 1813 John Reich modified his design. The portrait was changed to eliminate the bosom and drapery, the stars were rearranged to completely encircle the head, save for the date position, and other obverse and reverse details were altered.

From 1813 to 1829 half eagles were minted with a diameter of 25mm. In 1829 the diameter was reduced to 22.5mm and certain other modifications occurred, under the direction of William Kneass. Technically speaking, the 1829-1834 reduced-diameter format can be considered a separate type, but as half eagles of this era are exceedingly rare, most numismatists have been content to consider the span 1813-1834 as a single design. For the entire date span 1813-1834 of these two types, business strike mintage is estimated as 1,385,612 coins. From time to time, Proofs were struck for special purposes, but mintage records of such pieces were not kept. Only a few dozen exist today.

Of the half eagles minted from 1813 to 1829, probably no more than a thousand or two coins exist today, this being but a tiny fraction of the original mintage. Of the half eagles minted from 1829 to 1834 (discussed below under Type V), probably only a few hundred exist.

While many issues were minted in generous quantities during this era, today most varieties are exceedingly rare. The most famous issue, the 1822, of which just three specimens are known to exist, was minted to the extent of 17,796 pieces, a figure greater than the 14,485 recorded for 1823, of which dozens of examples are known!

The reason for the rarity of half eagles of this style lies not with any mintage figure, but, rather, with what happened to the coins after they were struck and the relationship of gold and silver prices in the world market. At the time, freshly minted gold coins, if melted, were worth more in bullion value than face value. It is an interesting and perhaps numismatically unpublished fact that after the War of 1812 ended (December 24, 1814; 1814 was the date of the peace treaty, but it effectively ended early in 1815), the Philadelphia Mint itself was paying a premium to buy its earlier-dated $5 gold coins! Somewhat similar to the situation that would occur years later (1793-1878) with trade dollars, gold coins were produced only upon request from bullion depositors. Later issues never circulated at par. Many if not most were simply used as "trade" coins, later melted, or shipped overseas. To rectify this untenable situation and to permit gold coins to circulate at par in America, Congress lowered the authorized weight of gold coins through the Act of June 28, 1834, but not before virtually the entire production of half eagles of the early years passed into the hands of speculators and bullion dealers.

Although mintages were fairly generous for many half eagles from 1813 through 1829, nearly all of the issues in this span are great rarities today, this being especially true of the dates in the 1820s.

The type set collector will have the best luck and the best use of his money if an issue such as 1813, 1814/3, 1818, or 1820 is selected, none of which will be inexpensive, but other issues are apt to be much more costly. The half eagle of the 1813-1829 design type is one of the highlights of a type set of early American gold coins.

Type V

1829-1834 Capped Head Left, Small Diameter

In 1829 the portrait on the half eagle was modified slightly by Chief Engraver William Kneass, and the diameter was reduced to 22.5mm. From that point forward half eagles were struck with beaded borders and with a closed collar. The format was continued from 1829 through the summer of 1834. As is the case with half eagles of the decade earlier, the issues minted from 1829 through 1834 are exceedingly rare. Probably no more than a few hundred exist today.

A general discussion of Type V is given above under Type IV.

Type VI

1834-1838 Classic Head

In summer 1834 the $5 denomination was redesigned by William Kneass, who created what is now known today as the Classic Head style.

The new 1834 issue is similar in design to the quarter eagle of the same date. The obverse depicts the head of Miss Liberty facing left, her hair secured by a band inscribed LIBERTY, with stars circling her head, and with the date below.

The reverse shows an eagle with a shield on its breast, perched on an olive branch and holding three arrows. The inscription UNITED STATES OF AMERICA, 5 D. surrounds. The motto E PLURIBUS UNUM, used earlier, was discontinued.

The authorized format was reduced from 135 grains to 129 grains via the Act of June 28, 1834. This was put into effect on August 2, 1834, and coins struck on and after that date were of the new light weight. The strategy proved successful; it was no longer profitable to melt or export coins for bullion, and gold coins circulated at par for the first time since the War of 1812.

From 1834 through 1838 large quantities were produced, with bullion supplied from gold production in North Carolina and Georgia and by gold shipments received from France as an indemnity for spoliation against American commerce during the Napoleonic Wars. Most of the mintage was accomplished at Philadelphia. In 1838, the branch mints at Charlotte and Dahlonega produced coins for the first time. Such mintmarked pieces are rare today.

The total business strike mintage of the Classic Head type totaled 2,113,612 coins. In addition, a few dozen Proofs were made for presentation and display.

The type set collector can readily obtain examples of Philadelphia issues in this span in grades from Very Fine to Extremely Fine. AU coins are scarce, Uncirculated pieces are elusive, and superb Uncirculated coins are very rare. Most examples are not sharply struck on the higher parts of the obverse.

For the die variety collector, forming a specialized cabinet of Classic Head half eagles (this comment extends to quarter eagles as well) can be a fascinating challenge. Very few coins on the market are attributed by minute die varieties, but are sold by date and, for 1838, mintmark as appropriate. Under magnification there are many interesting variations including repunched dates and stars, differences in the positioning of certain elements, and die cracks, the latter providing the opportunity to trace the life of the die.

Type VII

1839-1866 Coronet Head, No Motto

In 1839 the half eagle was redesigned by Christian Gobrecht, who had been associated with the Mint for a long time, and who in September 1835 had been hired full-time as second engraver, essentially taking over the work of Chief Engraver William Kneass, who had been incapacitated by a stroke.

The new style, variously called the Braided Hair, Coronet, or Liberty Head motif, featured a small head of Miss Liberty with her hair styled compactly, tied at the back with a string of beads. She wears a coronet inscribed LIBERTY. Stars surround the border, and the date is below. The Liberty Head motif by Gobrecht underwent several transitions, and a study of the various forms as used on cents of 1839 (in particular) and $10 gold coins of 1838-9 can be quite fascinating.

The new reverse by Gobrecht shows an eagle with a shield on its breast, perched on an olive branch and holding three arrows. The inscription UNITED STATES OF AMERICA, FIVE D. surrounds.

Issues of 1839 and some of 1840 measure 22.5mm and are sometimes referred to as "broad mill" pieces, whereas later issues measure 21.6mm.

Coinage was accomplished at the Philadelphia Mint on a continuous basis during the span of the Liberty Head design. Additional pieces were made from time to time at Charlotte, Dahlonega, New Orleans, and San Francisco. Business strike mintage totaled 9,114,049 coins, to which were added somewhat over 400 Proofs.

In general, Charlotte and Dahlonega pieces are scarce in any grade, rare at the AU level, and are seldom seen in Mint State.

The prime rarity within the design is the 1854-S, struck during the first year of operation of the San Francisco Mint, a coin of which just 268 were made and of which only three are known to exist today. Other San Francisco issues are generally scarce if in higher grades, and are extremely rare at the Mint State level.

New Orleans half eagles range from readily available to quite rare, with nearly all being in VF or EF grade, punctuated by an occasional AU. Mint State coins are great rarities.

The Liberty Head half eagle coinage (considering the present Type VII and the following Type VIII, the latter with motto IN GOD WE TRUST added) has a unique distinction not accorded any other United States coin type or denomination. Specimens were struck from time to time in each of the seven different United States mints: Philadelphia, Carson City, Charlotte, Dahlonega, Denver, New Orleans, and San Francisco.

The type set collector will have no problem acquiring one of the more plentiful Philadelphia Mint dates in any desired grade from Very Fine through AU, with a typical grade encountered being Very Fine to Extremely Fine. Uncirculated pieces are scarce, and superb Uncirculated coins are very rare. Proofs were made in limited quantities and are rarities.

The specialist collector will delight in the Bass Collection offering, as it showcases many branch mint coins and other rarities in high grades, creating opportunities that in some instances will not be repeated for a long time, if ever.

Type VIII

1866-1908 Coronet Head, With Motto

In 1866 the Coronet style was modified by adding the motto IN GOD WE TRUST on a ribbon above the eagle on the reverse. Apart from this, the motif with Liberty Head on the obverse and perched eagle on the reverse is the same used in earlier years. Mintage of the with-motto style was continuous at the Philadelphia Mint during the span indicated. Additional coins were made at San Francisco, Carson City, New Orleans, and, in 1906 and 1907, at the new Denver Mint.

In the East and Midwest, gold coins did not circulate at par (in terms of paper money) from December 28, 1861, to December 14, 1878. Thus, mintages at Philadelphia tended to be small, very much so in certain years. San Francisco and Carson City half eagles circulated at face value during these years, as the American West was operating on a different monetary basis (with no federal paper money in general use until the 1870s).

Business strike mintages for the 1866-1908 half eagle type totaled 51,503,654, and Proofs were made to the amount of 2,938 specimens. The latter had a very low survival rate, with perhaps no more than a third of the Proofs remaining today.

The type set collector has a wide choice of issues in this span. Coins in grades from Very Fine to AU are readily encountered. For certain dates Uncirculated pieces are plentiful as well, especially for years of the early 20th century, thanks mainly to shipments of large denomination American gold coins overseas beginning in a notable way circa 1880. Years later, many of these pieces returned to the United States, to the delight of numismatists.

Superb Uncirculated coins are very elusive, as even coins stored in hoards were apt to be jostled about in bags. Proofs were minted at Philadelphia and in each instance are rare.

Type IX

1908-1929 Indian Head

In late 1908 numismatists, accustomed to the Liberty Head design and unaware a change was in progress, were startled to learn of a radical new concept for the half eagle (and quarter eagle) coinage. At the suggestion of Dr. William Sturgis Bigelow, a Boston friend of President Theodore Roosevelt, sculptor Bela Lyon Pratt, also of Boston, redesigned the motif to picture an Indian head on the obverse and, on the reverse, the side view of a perched eagle. The format of the $2.50 and $5 coins, unique in American coinage, featured the lettering incised or incuse, rather than raised, on the coin. The opposite of regular issues, the highest part of the new design was the field and the lowest was the design itself.

The new concept met with criticism, with Samuel Hudson Chapman, the well-known Philadelphia coin dealer, writing to Theodore Roosevelt to express a list of faults, including the possibility for trapping dirt in the design recesses, problems with stacking, and irregularity of thickness. However, the protests of Chapman and others went unheeded, and the Indian Head style with incuse features was never changed. Production continued on a yearly basis through 1916, then a gap ensued, and the final production of the design, and of the half eagle denomination as well, occurred in 1929.

Mintage was accomplished at Philadelphia from 1908 through 1915 and again in 1929. Denver struck half eagles of this type from 1909 through 1911 and again in 1914. San Francisco half eagles were made from 1908 through 1916. At New Orleans the Indian quarter eagle was struck in one year only, 1909, the last year of operation of that minting facility.

Business strike mintage of Indian Head half eagles totaled 14,078,066, while Proofs (of the Matte and Roman Finish styles) totaled 1,077.

The availability of Indian Head half eagles to the type set collector is similar to that of related quarter eagles. Examples in grades from Very Fine to AU are easily obtained. Uncirculated pieces are scarce, and superb Uncirculated coins are seldom seen. The rarity of upper echelon grades is explained by a characteristic of the coin’s surface. The field, being the highest part, quickly acquired marks and abrasions, even while stored in mint bags before being released into circulation.

Collecting Considerations

For many decades, half eagles were neglected by numismatists. At the turn of the 20th century, gold dollars were fairly popular with collectors, and $2.50 and $3 coins were acquired by perhaps a few dozen collectors. However, the larger denominations of $5, $10, and $20 were almost entirely ignored, save for pre-1834 issues of the $5 and $10.

In 1893 in his treatise, Mint Marks, Augustus G. Heaton stated that he did not know of a single collector anywhere who was interested in acquiring Charlotte, Dahlonega, Carson City, or other branch mint coins in the Liberty Head series! Thus, if a half eagle happened to have a mintmark on it, that was fine, but few numismatists cared. In 1909, Edgar H. Adams, one of the most highly regarded numismatic writers and scholars of his era, published Adams Official Premium List of United States Private and Territorial Gold Coins. Virtually no attention was paid to Liberty Head $5, $10, and $20 coins, simply because virtually no one collected them!

In the 1930s a great interest developed in the acquisition of gold coins, and a number of important cabinets were formed. Such numismatists as Frederick C.C. Boyd, Louis E. Eliasberg, Sr., and Wayte Raymond–to give just a short list–aspired to acquire all denominations from $1 to $20 by date and mintmark. It was quickly discovered that many of the higher denominations were virtually impossible to find in high grades, this being especially true of dates prior to 1880. As a result, no one has ever assembled a full date and mintmark set of Mint State Liberty Head half eagles 1839-1908, and no one ever will, as certain varieties do not exist in this preservation.

The formation of a circulated date and mint set of half eagles becomes a practical reality beginning with the Classic Head type 1834-1838, continuing through the Liberty Head 1839-1908 and Indian Head 1908-1929 designs. While the 1854-S is impossible, and a handful of other varieties are very elusive, the majority of dates and mints are eminently collectible. The interesting variations among the dies are worthy of study and contemplation.

Choice Mint State 1795 $5

Exceptional Quality

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711     1795 Breen-6412, Breen-2C. Rarity-5. Small Eagle. MS-63 (PCGS). A wonderful example in brilliant yellow gold, the obverse reflective with frosty lustre on reverse. Sharply struck and well centered with all design detail fully defined. This is an exceptional 1795 half eagle, a coin for the connoisseur.

PCGS Population: 4; 2 finer (MS-65 finest).

The obverse has extensive die rust and minor cracks. The reverse has a small patch of die rust at right top of F.

These 1795 Small Eagle coins were the first half eagles struck by the Mint in Philadelphia. For many years, the half eagle would become the "workhorse" gold denomination with mintages far outdistancing quarter eagles and issues continuing long after the eagle was discontinued in 1804. From the period between 1795 and 1834 (through the With Motto series), over 600,000 ounces of gold were coined into half eagles, just under 76,000 ounces into eagles, and under 10,000 ounces into quarter eagles! The half eagles were, in fact, our nation’s first gold coins, struck prior to mintage of the eagles. As Breen noted: "[Mint Director Henry William] DeSaussure publicized the Mint’s readiness to coin deposits of gold, and on July 31 he proudly signed his first delivery warrant, authorizing the Coiner to transfer to the Treasurer of the Mint a batch of 744 half eagles." This variety was classified by Breen as a "Wide Date" which he believed was one of the first to be coined.

From our sale of February 1974, Lot 760.

Attractive 1795 Half Eagle

Small Eagle Reverse


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712     1795 Breen-6412, B-1B. Rarity-4. Small Eagle. AU-53 (PCGS). Light greenish yellow gold with very slightly reflective fields and considerable retained lustre. Very lightly abraded surfaces with a few other minor marks. A long, thin planchet lamination diagonally bisects the reverse from 2:30 to 6:30. An important type collector’s coin, also ideal for date or variety collectors. This is the most readily available among all varieties of 1795 half eagles and probably one of the very first struck by our young Mint.

While half eagle specialists will enjoy the present selection and will compete strongly, the ownership of a 1795 $5 piece can certainly appeal to just about anyone–representing as it does the first American gold coin issue, a piece laden with history and romance.

The obverse has a short die crack from the border to star 12.

The 1795 Small Eagle coinage consisted of 12 different die varieties, a rather remarkable array considering the small reported mintage of just 8,707 coins. With another 6,196 coins reported for 1796, it seems probable that many or most of these were dated 1795. Even if both mintages were dated 1795, the total averages just 1,242 coins per die marriage

From Pine Tree Rare Coin Auctions, March 1974, Lot 136.

Lovely 1795 Small Eagle $5

S over D in STATES


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713     1795 Breen-6414, B-4D. Rarity-5. Small Eagle. STATES over STATED. AU-55 (PCGS). Very light greenish yellow gold with a whisper of dark orange toning. Very sharply struck. A few light hairlines are noted, however, the surfaces are quite choice. A small planchet imperfection, no doubt as struck, is just right of Liberty’s chin. A highly attractive example of this desirable blundered die variety. The engraver punched a D instead of an S as the final letter in STATES, then realizing his mistake, made the appropriate correction. Perhaps he thought he was working on UNITED. Although certainly not a rare variety, the blundered reverse certainly adds intrigue and places this as one of the most popular early half eagle varieties.

Several obverse and reverse border segments are elongated, especially that just left of the first A in AMERICA, which continues to a point between the base of F and A. A short crack from the obverse border joins left top of L. Another from border to left top of I returns to the border over right upright of the same letter. Reverse is cracked from border to leaf left of U with another crack crossing the first and extending to the tops of UNI. Another faint crack from the border to left top of adjacent T continues to top of E.

From the 1970 ANA Sale, Rare Coin Company of America, August 1970, Lot 1509.

Pleasing 1795 Small Eagle $5


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714     1795 Breen-6415, B-6E. Rarity-5+. Small Eagle. AU-55 (PCGS). Reflective bright yellow gold lustre about the periphery with orange and lilac toning in the fields and light olive on the highest points of devices. A very attractive example. Light adjustment marks at center of obverse are masked by the toning. Surprisingly choice surfaces. In his 1960s pamphlet covering early half eagles, Walter Breen noted this to be the single most common variety of 1795 half eagle. Quite frankly, our experience is different. While we will not classify this variety as a rarity, it is certainly scarce. Since 1972, this is only the eighth time we have offered this variety for public auction sale.

Very light obverse and reverse clash marks.

From Mid-American Rare Coin Auctions, August 1991, Lot 392.

Prooflike 1795 Small Eagle $5


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715     1795 Breen-6416, B-6G. Rarity-5. Small Eagle. MS-61 (PCGS). Sharply struck with all design definition bold. Reflective deep yellow gold lustre with a hint of very light green. Slight cameo contrast is noted. This is a lovely prooflike Mint State example of our first half eagle coinage. A few light hairlines are noted as well as minor contact marks and lint marks, the latter as struck. This is only the fourth appearance of this variety in any of our auctions, the other three all grading AU-50. A rare variety, probably at the high end of Rarity-5.

Perfect dies without clash marks or cracks.

From Stack’s sale of the Bartle Collection, October 1984, Lot 1110.

Outstanding 1795 Heraldic Eagle $5

From the Bareford Collection

A Classic Rarity


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716     1795 Breen-6423, B-7X. Rarity-5+. Heraldic Eagle. AU-58 (PCGS). An exceptional example of this rarity with light greenish gold lustre, reflective in nature, and accented by pale orange toning. Delightful surfaces with only a few minor hairlines. Weak central obverse and reverse, otherwise, all details are boldly defined. A lilac toning spot behind the cap and below star 10 serves as a pedigree marker. The fifth appearance of this variety in any of our public auctions since 1972, the only finer example being the MS-61 coin we offered last August in our Rarities Sale. This is the least rare variety of 1795 Heraldic Eagle $5.00 with possibly as many as 40 examples known. In the 1960s, Breen rated this as High Rarity-6, very nearly Rarity-7. More have been found in collections since then.

It is not known just when these 1795-dated Heraldic Eagle coins were actually struck, however, most certainly either in 1797 or 1798. The most likely scenario suggests that all 1795 through 1798 Small Eagle coins were struck first, then the 1795 and 1797 Heraldic Eagle coins were next, followed by 1798 Heraldic Eagle issues. Further study of die states will help establish an emission sequence indicating the order that all varieties were struck. Perhaps a study of edge reeding will yield clues such as with the early eagles studied by Anthony Taraszka and discussed in his reference mentioned in the appropriate section of the present catalogue.

For many years the 1795 Heraldic Eagle reverse half eagle has been a classic rarity, one of the most desired coins in the entire series. It stands proudly on its own as an elusive issue, but even more than that it represents the personification of a Mint technique in which earlier-dated dies were kept on hand and used later, if they were still serviceable. For reasons such as this it is not at all possible to directly relate published mintage figures (such as in the Guide Book) to the actual number of pieces struck bearing a given date.

It seems that Mint practices regarding overdating dies were not consistent. Perhaps if a die had been made and annealed or hardened, it was not overdated. That would account for the present 1795 die not being overdated. On the other hand, if a die had been prepared with a date, but had not been hardened, it would have been an easy matter to have overpunched another date, than to have hardened the die for use.

Extensive obverse and reverse die cracks. Obverse cracked from border at 3:30 through star 13 to Liberty’s lower lip. Another crack from the border at 10:30 just misses star 10 and continues through the cap into hair curls, eventually reaching the neck. The lower reverse die is shattered with several cracks through ICA, the branch, tail, arrows, and UN. A rim break joins tops of TE in UNITED.

From Stack’s sale of the Bareford Collection, December 1978, Lot 151. Earlier from the Sotheby’s sale of the King Farouk Collection, February 1954, Lot 226, via Abe Kosoff as agent.

Wonderful 1796/5 Small Eagle $5


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717     1796/5 Breen-6418, B-9I. Rarity-4. Overdate. AU-53 (PCGS). Deep green-gold with almost imperceptible traces of orange toning. A few very minor hairlines and other surface marks are noted. A sharply struck and well-centered impression. This is the only half eagle variety to carry the 1796 date. As such, it is in strong demand both by date collectors as well as variety specialists. Although rated just Rarity-4, the demand is sufficient to absorb the small supply. Robert Hilt suggested that these 1796-dated coins were actually struck early in 1797, a logical theory considering the large number of varieties and relatively small mintage for coins dated 1795.

From Rarcoa’s 1970 ANA Sale, August 1970, Lot 1511.

Important 1797/5 Half Eagle

Heraldic Eagle Reverse


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718     1797/5 Breen-6425, B-13Y. Rarity-7. Heraldic Eagle. Overdate. AU-53 (PCGS). Light yellow gold with delicate green and orange. The surfaces are surprisingly choice for the grade. Minor central weakness is noted. This is a pleasing example of a rare variety, the first example we have ever offered for sale. Attributed as Breen-13Y, however, see our notes below. Whatever the specific die variety, this is an important rarity. Extremely rare according to Walter Breen.

The obverse has very light die rust. A crack from the reverse border at 3:00 passes through the right side of M to the wing, and curves up through the feathers, stars, clouds and border between S and O.

Is this Breen’s obverse 13 or 14? There seems to be some confusion due to Breen’s very short comments.

Breen states star 10 touches the cap on obverse 13 and is free of cap on obverse 14. Two prongs of star 1 touch curl on obverse 13, just one prong on obverse 14. Star 15 touches second fold of drapery on obverse 13, between the first and second fold on obverse 14. In each case, this obverse seems to match the description for obverse 14 and not 13. Never the less, Breen described this as variety 13-Y in his Encyclopedia. Further confusion was added when Robert Miller, Sr. listed this identical coin as his variety 23, equivalent to Breen 14-Z yet describes the reverse die crack appearing here for his variety 22, equivalent to Breen 14-Y. Essentially, we have two different obverse dies and two different reverse dies described in various literature for this single coin! No wonder these early coins are sometimes misattributed.

As is obvious, the 1797/5 represents an unused 1795 die that was overdated, ditto for Lot 717, the 1796/5. See our notes under Lot 716.

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 332. From the Clapp Collection 1942; earlier from the Earle Collection (Henry Chapman, June 1912)

Rare 1797 Small Eagle $5

15-Stars Obverse

From the Norweb Collection


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719     1797 Breen-6419, B-10J. Rarity-7. Small Eagle. 15 Stars. AU-55 (PCGS). Lustrous deep orange-gold with minor hairlines and abrasions. Very sharply struck with considerable aesthetic appeal. Seldom does an attractive example such as this appear on the market. Collecting early gold coins requires considerable patience as examples such as this are brought to market quite infrequently. In this case, we have only offered this variety six previous times, this being tied for the finest grade of all. Three different 1797 Small Eagle half eagles are offered in the present sale, each a different die variety. Such an opportunity is extremely unusual. The specialist should consider all of these very carefully.

For about three decades Harry Bass served as a one-person repository for scarce, rare, and interesting early gold coins. Although the Harry W. Bass, Jr. Research Foundation has retained one example from each early die variety in the gold series 1795-1834, enough other pieces were acquired that the present offering is indeed monumental and will be forever remembered. It is highly unlikely that there will be any similar offering in the future.

PCGS Population: 2; none finer.

The obverse die appears to be lapped with polished areas in place of certain details, especially among the lower hair curls. Both dies are cracked, the obverse from border at 11:00 vertically through cap and into hair. The reverse from the border at 8:00 through the upright of I to junction of the wing and body. This, or another crack, is visible in the lower right reverse field from the fifth feather (counting from left to right) touching tip of ninth feather to the 10th.

From our sale of the Norweb Collection, October 1987, Lot 741. Earlier from Sotheby’s sale of the King Farouk Collection, February 1954, Lot 228, via Abe Kosoff as agent.

Another 1797 Small Eagle $5 Rarity

15-Stars Obverse


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720     1797 Breen-6419, B-11J. Rarity-6+. Small Eagle. 15 Stars. AU-53 (PCGS). Light yellow gold with a hint of green around the periphery. Very minor surface marks, however, still quite attractive. Probably cleaned long ago with light hairlines still evident. A faint trace of orange toning is noted. This is the first example of this variety we have ever offered. Among all 1797 Heraldic Eagle varieties, with 15 or 16 obverse stars, probably only 35 to 40 examples survive.

PCGS Population: 1; 2 finer (AU-55).

The reverse is cracked from the border at 8:00 through the upright of I to junction of the wing and body. This, or another crack, is visible in the lower right reverse field from the fifth feather (counting from left to right) touching tip of ninth feather to the 10th.

From Superior’s sale of the Gilhousen Collection, February 1973, Lot 328.

Desirable 1797 Small Eagle $5

16 Obverse Stars

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721     1797 Breen-6420, B-12K. Rarity-5+. Small Eagle. 16 Stars. AU-55 (PCGS). Light greenish yellow gold with considerable prooflike surfaces especially around the stars and legends. Slight central weakness, otherwise very sharply struck. Minor surface marks are noted, quite common to the early gold coins. We have previously offered this die marriage seven times in our auctions, three of those seven being graded equally to this example.

PCGS Population: 5; 1 finer (AU-58).

Perfect obverse. The reverse has a network of fine die cracks, primarily located in the lower areas of the design: from center of M to the wing, crossing several feathers, and through lower right field to top of the tail; another from a point just below this to final A and border; from the border at 6:30, a crack crosses two leaves to the leg and tail, crossing the tail to second crack; and from border between IT and across the wing to eagle’s body.

From Stanley Kesselman, July 16, 1973.

Attractive 1798 Half Eagle

Large 8, 13 Stars

From the Garrett Collection

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722     1798 Breen-6426, Breen-1B. Rarity-5+. Large 8, 13 Stars Reverse. MS-62 (PCGS). A lovely coin with brilliant satiny yellow gold lustre. Well centered and sharply struck although the central reverse is slightly weak. This is the finest example of this variety we have been privileged to sell.

PCGS Population: 8; 2 finer (MS-63).

Shattered obverse and reverse. A bold guide line below the bust and through base of the date follows the border to the left, almost reaching 12:00. This is common to all examples of this variety. The obverse has several die cracks including a prominent crack from the rim left of L vertically into the cap. Several fine cracks are located between the lower hair curls and star 1, and faintly to the date. The reverse has several heavy cracks from the border radically to the center. These cracks extend from the border at 12:00, 2:30, 4:00, 5:30, and 9:30.

From our sale of the Garrett Collection, November 1979, Lot 440.

1798 Large 8 Half Eagle

13 Reverse Stars

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723     1798 Breen-6426, Breen-1B. Rarity-5+. Large 8, 13 Stars Reverse. AU-50 (PCGS). Light greenish gold with faint orange on the highest points. Minor hairlines. Very attractive with traces of lustre remaining.

Light die cracks on obverse and reverse. The obverse has a very faint crack from the border at 11:30 left of L into the cap. A heavier crack through star 1 joins the middle wave of hair. The reverse has a horizontal bisecting crack through both wings and just above the scroll.

Purchased from Numismatics, Ltd., July 5, 1973.

Very Rare 1798 14 Stars Reverse

Finest PCGS Certified

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724     1798 Breen-6427, B-2C. Rarity-6. Large 8, 14 Stars Reverse. AU-55 (PCGS). Lustrous bright yellow gold with a few scattered contact marks. Light adjustment marks and minor scratches are blended on the upper reverse with a few other very light scratches on both surfaces. Quite sharply struck and attractive, despite the obligatory statement about surface quality. Examples in this and the next lot represent the ninth and 10th offerings of this variety in any of our sales since 1957 (our first auction being the Penn-New York Sale of that year). Previously, the finest example was the Norweb AU-50 grade coin.

PCGS Population: 1; none finer.

The reverse has a curved die crack from the border through F, clouds, stars, scroll, shield, and branch to the border just right of final A. Other cracks from the border extend through the first A in AMERICA and through E of the same word continuing to the first crack. A further crack from the border through arrow feathers continues through the shield and other design motifs to left side of O. Other fine die cracks are also present.

From Paramount’s sale of May 1976, Lot 1071.

Another 1798 14 Stars Half Eagle

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725     1798 Breen-6427, B-2C. Rarity-6. Large 8, 14 Stars Reverse. AU-53 (PCGS). Bright greenish gold with light surface abrasions. The reverse has considerable reflective prooflike surface. Quite attractive with very choice surfaces for the grade. The opportunity to bid on two examples of this rare 14-Star Reverse variety is quite unusual. As noted above, prior to this sale we have only offered eight examples of this variety in 42 years of public auction and mail bid sales.

PCGS Population: 1; 7 finer (AU-55 finest, and offered above).

The reverse has a crack from the border through upright of F, star 6, scroll, shield, branch stem, and right foot of final A to border. Considerable reverse design detail is missing due to extensive die lapping or polishing.

From Superior’s sale of the Ruby Collection, February 1974, Lot 1787.

Mint State 1798 Half Eagle

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726     1798 Breen-6428, B-2D. Rarity-4. Large 8, 13 Stars Reverse. MS-61 (PCGS). This die variety is instantly recognized by heavy reverse rim breaks as described below. Lustrous light greenish gold with slightly reflective fields. A moderate number of abrasions are present on both obverse and reverse. Central weakness is noted on both sides. This is one of the less scarce 1798 die varieties.

The obverse has been lapped and has a die crack through tops of RTY. The reverse has also been lapped and displays several lumpy rim breaks and other die breaks at base of TE in UNITED and over ATES O. These various reverse breaks provide instant identification of this variety.

From Superior’s sale of the Ruby Collection, February 1974, Lot 1789.

1798 Large 8 Half Eagle

13 Stars Reverse

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727     1798 Breen-6429, B-3E. Rarity-5+. Large 8, 13 Stars Reverse. AU-53 (PCGS). Light greenish gold with pale orange toning around the obverse and reverse borders, through stars and letters. A very pleasing example with a few minor surface marks as expected. Very slightly reflective. Examples of this variety are very infrequently offered, and an actual rarity rating in the range of Rarity-6 is not out of the question.

The obverse has a heavy die crack diagonally through star 7 to the hair curls, drapery, and digit 8 to the border. The reverse is extensively lapped with considerable design detail missing.

Purchased from the Goliad Corporation, December 16, 1971.

Very Rare 1798 Small 8 Half Eagle

Important in Any Grade

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728     1798 Breen-6431, B-6H. Rarity-5+. Small 8. AU-53 (PCGS). Light greenish gold with a few minor marks, most notably shallow depressions within the shield. Slightly weak at the center of the reverse, otherwise sharply defined. The reverse border is heaviest at 12:00.

PCGS Population: 1; 1 finer (AU-58).

Light obverse and reverse clash marks including a full date beneath the letters ATE. The obverse has several heavy cracks around the date. The reverse has a crack between S and O through a cloud, to stars 4 and 8, and to the eagle’s head.

Purchased from Benjamin Levin, July 30, 1979.

Extremely Rare 1799 Breen-2C Half Eagle

Small Reverse Stars

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729     1799 Breen-6432, B-2C. Rarity-8. Small Reverse Stars. AU-55 (PCGS). Light yellow gold surfaces with a hint of green. An attractive example of the design with sharp definition and complete, although narrow borders. Minor surface marks are noted, none serious. Light obverse hairlines. The reverse has a slightly reflective nature. The edge reeding is complete but quite weak suggesting this coin may have been in some type of mounting in the past. Only the second example of this die marriage we have handled, the other coin appearing in the Eliasberg Collection.

A thin crack from the border between LI to the cap; faint cracks connect the bases of ERTY. A crack from the reverse border to the wing between the second and third feathers continues across the eagle’s breast to top of the shield.

Purchased from Charles Byers, September 13, 1973.

1799 Small Stars Half Eagle

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730     1799 Breen-6433, B-1A. Rarity-6. Small Reverse Stars. AU-55 (PCGS). Bright greenish gold with reflective, nearly prooflike surfaces. A few very minor scratches are noted along with a few very small rim bruises, most notably a rim bruise at 3:00 on the obverse. The reverse die of this variety was earlier used for 1798 Breen 6-H (an example which was offered earlier), as evidenced by the die state described below. Half eagles of 1799 are a bit scarcer than often recognized.

The obverse die is perfect without cracks or clash marks. The reverse is in a slightly later die state than the 1798 Breen 6-H half eagle offered above. A die crack between S and O continues to the eagle’s head and passes through the left field and upright of T in UNITED to the border. Reverse clash marks include a full date from the 1798 obverse. The complete 1798 date is visible beneath ATE.

The following tabulation indicates how many of each 18th-century half eagle have appeared in our various public auctions from 1957 through August 1999. 1795 Small Eagle (97); 1795 Heraldic Eagle (7); 1796 (13); 1797 Small Eagle (13); 1797 Heraldic Eagle (5); 1798 Small Eagle (2); 1798 Heraldic Eagle (62); 1799 (39); 1800 (74).

From Stack’s 1971 ANA Sale, Lot 2110.

Desirable 1799 Half Eagle

Small Reverse Stars

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731     1799 Breen-6435, B-3D. Rarity-7. Small Reverse Stars. AU-55 (PCGS). Bright greenish gold with very slight reflectivity. Lightly abraded surfaces with slight porosity along the obverse border at 11:00. A small edge bruise is visible on the reverse over the second T in STATES. Only the fourth auction appearance of this variety in any of our sales.

Perfect obverse and reverse. No cracks or clash marks are noted.

Purchased from Stanley Kesselman, October 26, 1972.

Important 1799 Half Eagle

Large Reverse Stars

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732     1799 Breen-6436, B-3F. Rarity-6. Large Reverse Stars. AU-58 (PCGS). Very light greenish yellow gold with lovely surfaces for the grade. A delightful example of this scarce variety.

PCGS Population 2; 3 finer (MS-63 finest).

Light reverse clash marks.

Purchased from Ronald Gillio, August 27, 1973.

Attractive 1799 Half Eagle

Large Reverse Stars

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733     1799 Breen-6437, B-4G. Rarity-7. Large Reverse Stars. MS-62 (PCGS). Lustrous green-gold with a few minor surface marks and considerable surface roughness on the obverse. All in all an attractive early half eagle. The present sale has two examples of this die variety, doubling the number of times we have handled this die marriage in our auctions. Previously we sold an AU-55 example in our January 1999 Rarities Sale and an AU-50 grade coin in our June 1996 auction.

PCGS Population: 2; 1 finer (MS-63).

Perfect obverse. The reverse die was shattered with at least 10 distinctly different die cracks as illustrated.

Purchased from the Goliad Corporation, December 13, 1985. Earlier from Mike Follett Rare Coins.

Third 1799 Large Reverse Stars $5

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734     1799 Breen-6437, B-4H. Rarity-6+. Large Reverse Stars. AU-55 (PCGS). Reflective light yellow gold with a few minor surface marks. Minor scratches are visible in the left obverse field as are light adjustment marks. Sharply struck from slightly mis-aligned dies, the right obverse border deeper and the left reverse border wider. A few minor rim bruises are noted, especially on the reverse. These include light file marks above ME.

PCGS Population: 3; 4 finer (MS-63 finest).

From Quality Sales Corporation’s auction of the John A. Beck Collection, Part I, January 1975, Lot 337.

Final 1799 Half Eagle

With Large Reverse Stars

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735     1799 Breen-6437, B-4G. Rarity-7. Large Reverse Stars. VF-30. Light yellow gold with scattered abrasions, as expected for the grade. A very rare die variety. Both die marriages, Breen-4G and 4H, that comprise the Encyclopedia listing of Breen-6437 are quite rare with probably less than 30 examples known.

Perfect obverse. The reverse has extensive die cracks as noted in the previous lot, however, this is an earlier die state with these cracks much lighter.

Purchased from Joe Flynn, Sr. Coin Co., October 30, 1970.

Choice Mint State 1800 Half Eagle

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736     1800 Breen-6438, B-1D. Rarity-4. MS-63 (PCGS). Bright yellow gold with sharp design details and frosty lustre. A few very minor surface marks, mostly on the obverse. The reverse is gem quality. The issues dated 1800 represent the first of several slightly higher mintage dates that are generally easier to locate than the 18th-century issues offered above. The present sale offers five different examples of this date, all AU-55 or finer.

Both dies have light clash marks and minor die cracks. The reverse has a heavier crack from the claw left of the shield, crossing the lower stripes and other claw, continuing into the branch.

From Abner Kreisberg’s sale of September 1971, Lot 1015.

Mint State 1800 Half Eagle

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737     1800 Breen-6438, B-1B. Rarity-4. Normal Dies. MS-62 (PCGS). A wonderful example with nearly full prooflike surfaces. Sharply struck in greenish gold with a few very minor imperfections noted, including a small patch of hairlines in the right obverse field. The reverse die has star 6 tripled with each individual star point composed of three distinct but closely spaced elements.

Minor obverse and reverse clash marks. The obverse has a short crack from the upper right upright of I to the lower left upright of B. The reverse has a crack between S and O from the border to a cloud. A few other minor reverse cracks are present.

Purchased from Coins of Chevy Chase, August 23, 1973.

Desirable 1800 Half Eagle

Normal Reverse

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738     1800 Breen-6438, B-1D. Rarity-4. Normal M. MS-62 (PCGS). Reflective light greenish yellow gold with very pleasing surfaces showing only minor hairlines and abrasions. The reverse has very short, light adjustment marks at upper right.

Perfect obverse and reverse.

From Quality Sales Corporation’s auction of the John A. Beck Collection, Part I, January 1975, Lot 338.

A Further Mint State 1800 $5

Blundered Reverse

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739     1800 Breen-6439, B-1C. Rarity-4+. Blundered M. MS-63 (PCGS). Satiny light yellow gold lustre with very few minor abrasions. A very pleasing example of this popular variety with M in AMERICA widely doubled. Slight weakness at the central reverse.

Perfect obverse and reverse.

Purchased from A-Mark Coin Co., March 16, 1978.

Another Pleasing 1800 Half Eagle

With Blundered M Reverse

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740     1800 Breen-6439, B-1C. Rarity-4+. Blundered M. AU-55 (PCGS). Another attractive example of this popular variety. Light greenish yellow gold with a few minor hairlines and other abrasions. Light adjustment marks are present at the central obverse, across Liberty’s hair and cap.

Light obverse and reverse clash marks.

Purchased from John J. Smies, October 22, 1966.

Choice Mint State 1802/1 Half Eagle

High Overdate


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741     1802/1 Breen-6440, B-2I. Rarity-4. High Overdate. MS-64 (PCGS). A lovely example, highly lustrous bright yellow gold, frosty in nature. A few very minor hairlines are visible, only when tilted at certain angles to the light. Surprisingly choice surfaces for any early gold coin. Although not a rare die variety, this is certainly one of the finest known. For all varieties of this date, PCGS has only graded one finer coin. The overdate coinage of 1802 provides the first of several challenges to the numismatist who wishes to determine exactly how many varieties are known. See our notes below for more information.

Obverse has minor clash marks behind the low curls and over the ear. The reverse is cracked through center of UN to base of IT with another crack through top of this I.

Just two obverse dies were used for the 1802/1 half eagles. First is the low overdate (Breen obverse 1) with top of 2 separated from bust and underdigit centered. Second is the high overdate with top of 2 lightly touching the bust and underdigit left of center. In his Complete Encyclopedia, Breen noted the low overdate is known with seven reverse dies and the high overdate with four reverse dies, for a total of 11 die marriages. This data was taken from his earlier monographs of the 1960s. Robert W. Miller, Sr., in United States Half Eagle Gold Coins, 1795 to 1834, recognized the same two obverse dies married with six and three reverse dies respectively. Of these, he suggested that one was not listed by Breen, however, did not illustrate the variety and stated the sole known example is in the collection of a well-known collector who remained unidentified. Altogether, Harry Bass was able to acquire 21 different 1802/1 half eagles of six die marriages, three reverses with each obverse. Today, we believe that the low overdate is known with five different reverse dies and the high overdate is known with four reverses, however, more study is needed. It is anticipated that the sylloge we are preparing of the Harry W. Bass, Jr. Research Foundation coins will bring together notes from the present catalogue as well as information from elsewhere, including outside consultants. The result should be a text that will be of great interest and importance to anyone who enjoys these early coins.

Purchased from A-Mark Coin Co., March 16, 1978.

Pleasing 1802/1 Half Eagle

High Overdate

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742     1802/1 Breen-6440, B-2F. Rarity-5. High Overdate. MS-63 (PCGS). Lustrous light greenish gold with very choice surfaces. A minor rim imperfection is visible over TA in STATES, possibly from light filing to remove a rim bruise.

Light clash marks are visible in the form of horizontal lines over the ear. Very small die cracks extend from the outer tips of stars 3 and 5 to dentils. The reverse has a very light crack through the center of TED.

Purchased from A-Mark Coin Co., March 16, 1978.

Desirable 1802/1 Half Eagle

High Overdate


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743     1802/1 Breen-6440, B-2I. Rarity-4. High Overdate. MS-63 (PCGS). A lovely example with superb prooflike greenish gold lustre and very pleasing surfaces. Very minor adjustment marks are noted along the upper obverse edge.

Light obverse and reverse clash marks. The obverse cracks from dentils to stars 3 and 5, described for Breen-2F, seem to be slightly less advanced on this example, ie., this is an earlier die state.

From Stack’s sale of the Gaston DiBello Collection, May 1970, Lot 802.

Mint State 1802/1 Half Eagle

Low Overdate

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744     1802/1 Breen-6440, B-1D. Rarity-4+. Low Overdate. MS-60. Lustrous light greenish gold with minor surface marks and a shallow vertical scrape in the left obverse field. Minor reverse abrasions.

Light obverse and reverse clash marks. The obverse has a short die crack from the lower left curve of 8 extending through the base of 1.

From Abner Kreisberg’s sale of the John A. Beck Collection, Part II, February 1976, Lot 351.

Lustrous 1802/1 Half Eagle

Low Overdate


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745     1802/1 Breen-6440, B-1C. Rarity-5. Low Overdate. AU-58 (PCGS). Reflective bright greenish yellow gold lustre with minor surface abrasions as expected. Sharply struck and very well centered. A small point of weakness is noted on the reverse rim at 10:00. There is no evidence of any damage at this point, however.

Perfect obverse and reverse dies.

Several varieties of 1802/1 half eagle are known, with all struck from two obverse dies. This Low Overdate has top of the digit 2 separated from the bust with the underdigit 1 about centered beneath. The other obverse, the High Overdate, has the top of the digit 2 lightly joined to the bust with the underdigit 1 left of center.

Purchased from the Goliad Corporation, May 3, 1973.

Another 1802/1 Half Eagle

High Overdate


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746     1802/1 Breen-6440, B-2F. Rarity-5. High Overdate. AU-53 (PCGS). Very pleasing light greenish gold surfaces with nearly full lustre. Very minor hairlines and other surface marks are noted. A small point of weakness along the obverse rim is noted over TY.

Light clash marks are visible in the form of horizontal lines over the ear. Very small die cracks extend from the outer tips of stars 3 and 5 to dentils, that to star 5 continuing a short distance into the field. The reverse has a very light crack through the center of TED and another from the junction of shield and left wing to the arrow shafts below.

Purchased from Stanley Kesselman, December 18, 1970.

Scarce 1802/1 $5 Variety

Low Overdate


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747     1802/1 Breen-6440, B-1C. Rarity-5. Low Overdate. EF-45. Light greenish gold surfaces with considerable remaining lustre. The surfaces are surprisingly choice for the assigned grade. A small area of weakness is noted on the obverse rim at 8:00, possibly having been lightly filed to remove a rim bruise. Most details of the obverse design are tripled, the result of multiple striking.

Perfect obverse and reverse dies.

Purchased from Kent Oram, October 18, 1966.

Prooflike 1803/2 Half Eagle

First Obverse

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748     1803/2 Breen-6441, B-1D. Rarity-4. Overdate. MS-63 (PCGS). Although higher technical grade coins exist, we cannot imagine any with a higher degree of aesthetic desirability. Both obverse and reverse have fully prooflike fields, the reverse extremely deep. The devices are lustrous, providing a pleasing cameo appearance. Bright yellow gold lustre with minor hairlines.

A faint die crack joins stars 1 through 6. Reverse perfect.

From Quality Sales Corporation’s auction of the John A. Beck Collection, Part I, January 1975, Lot 348.

Choice Mint State 1803/2 Overdate

First Obverse

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749     1803/2 Breen-6441, B-1B. Rarity-5. Overdate. MS-63 (PCGS). Brilliant, frosty greenish gold lustre with wonderful surfaces. Sharply struck and very well centered. A few very minor hairlines are visible. This is the scarcest of four 1803/2 varieties. This piece is approximately equal to an example we offered 20 years ago in April 1979.

Very nearly perfect obverse with only a very short crack from the southwest point of star 7 to the field over star 6 and another through stars 10 to 13. The reverse has a bisecting diagonal crack from the border over E in STATES to the outer right serif of U in UNITED, crossing clouds, stars, the eagle’s beak, left edge of the shield, and the arrows.

Purchased from A-Mark Coin Co., March 16, 1978.

Attractive 1803/2 Overdate

First Obverse

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750     1803/2 Breen-6441, B-1C. Rarity-4. Overdate. AU-58 (PCGS). Reflective light yellow gold lustre with very pleasing surfaces, only minor hairlines are present. The reverse is the same as 1802 Breen 2-F.

Perfect obverse. The reverse has a crack through TED and another from the left edge of the shield to the arrow shafts continuing to the border at 6:30.

From Quality Sales Corporation’s auction of the John A. Beck Collection, Part I, January 1975, Lot 350.

Lustrous 1803/2 Overdate

First Obverse

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751     1803/2 Breen-6441, B-1D. Rarity-4. Overdate. AU-58 (PCGS). Lustrous brilliant greenish gold with very choice surfaces. A small weak area along the obverse border at 6:30 is the only imperfection. Minor adjustment marks are noted on the reverse.

The obverse has minor cracks from star 7 to the field over star 6 and through stars 10 to 13. Perfect reverse.

Purchased from Stanley Kesselman, August 30, 1971.

Attractive 1803/2 Overdate

Second Obverse

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752     1803/2 Breen-6441, B-2D. Rarity-4. Overdate. AU-58 (PCGS). Lustrous green-gold with delightful, nearly pristine surfaces. A few minuscule obverse abrasions and light reverse adjustment marks are noted.

Light obverse and moderate reverse clash marks. The obverse has a heavy die crack through base of the date extending left almost to star 1 and right almost to star 13. The reverse has a crack through E of AMERICA to the shield, continuing through the wing to left and to the border at 10:00.

We have discussed the two obverse dies of 1803/2 half eagles in recent past auction sales. This second obverse die was only recently discovered, not being treated by Walter Breen in either of his circa 1960s monographs describing early half eagle varieties. Nor was this mentioned in his Complete Encyclopedia. As this obverse always seems to have a die crack through base of the date, it has often been mis-catalogued as a late die state of Breen-1D. More recently, Robert Miller publicized this variety as Rarity-7. Our survey of past auctions tells a different story and indicates that we have offered the following quantities of each variety (Breen-1A does not exist). Breen-1B (9); Breen-1C (24); Breen-1D (14); Breen-2D (22). By a narrow margin, this is the second most common 1803/2 half eagle variety.

Purchased from Lester Merkin, February 23, 1971.

Further 1803/2 Overdate

First Obverse

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753     1803/2 Breen-6441, B-1C. Rarity-4. Overdate. EF-45. Light greenish gold with a faint trace of orange toning. Slight weakness along the obverse border is noted at 11:30. A few light abrasions are present as well. Minor rim imperfections are noted on the reverse at 7:00. A very attractive example despite the impairments mentioned. As is typical of many Draped Bust half eagles in the present offering, the reverse is considerably nicer than the obverse, at least five points higher quality.

Very faint obverse crack through stars 10 to 13. The reverse is a later state of the previous lot with the crack from shield to arrows continuing upward to the scroll, stars, clouds, and E in STATES.

From Abe Kosoff’s 1968 ANA Sale, Lot 937.

Pleasing 1804 Half Eagle

Blundered Date


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754     1804 Breen-6442, B-1A. Rarity-4+. Small over Large Date. MS-63 (PCGS). Satiny orange-gold lustre with pristine surfaces. Faint adjustment marks are noted on the obverse with a few tiny abrasions. A wonderful, sharply struck example of this popular blundered date variety.

PCGS Population: 2; none finer.

Light obverse clash marks. The reverse die is shattered with numerous cracks including a heavy die chip on the left side of the cloud between S and O.

From Stack’s sale of the Gaston DiBello Collection, May 1970, Lot 808.

Another 1804 Half Eagle

Blundered Date

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755     1804 Breen-6442, B-1B. Rarity-5+. Small over Large Date. AU-58 (PCGS). Reflective and lustrous bright orange-gold with a faint trace of green. An attractive example with only a few very minor obverse contact marks. The reverse has an unfortunate vertical scratch through the E in STATES and the eagle’s head to the shield.

The reverse has two bisecting vertical die cracks, from the border through A in STATES, clouds, stars, shield, arrows, and U in UNITED, to the border below, and from the border through O, clouds, stars, shield, branch, and final A, to the border below. At first glance, the scratch above looks like a third vertical die crack.

From Stack’s sale of the Gaston DiBello Collection, May 1970, Lot 807.

1804 Blundered Date $5

From the Bareford Collection

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756     1804 Breen-6442, B-1E. Rarity-7. Small over Large Date. AU-58 (PCGS). Lustrous and highly attractive with prooflike greenish gold surfaces. A few very minor hairlines and other surface abrasions are noted.

PCGS Population: 2; 1 finer (MS-63).

Perfect obverse. Heavy reverse clash marks are noted. Reverse cracked from the border through E in AMERICA, through the shield and wing to the left, reaching the border at 10:00.

From Stack’s sale of the Bareford Collection, December 1978, Lot 155. Earlier from B. Max Mehl’s sale of the Geiss Collection, February 1947, Lot 1658.

Choice 1804 Half Eagle

Small Date

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757     1804 Breen-6443, B-2C. Rarity-5. Small Date. MS-63 (PCGS). Frosty bright yellow gold lustre with very slight hairlines and other abrasions. An extremely attractive half eagle with sharp design details.

Obverse has a vertical die crack bisecting digit 0 and continuing through drapery into hair. Reverse has a crack through tops of UNIT with a rim break on top of this T. A long die scratch from the left corner of shield extends through the scroll and star 12 to eagle’s beak.

From Rarcoa’s sale of June 1973, Lot 171.

Another 1804 Small Date $5

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758     1804 Breen-6443, B-2E. Rarity-5. Small Date. AU-58 (PCGS). Lustrous greenish yellow gold with lightly abraded surfaces.

Obverse bisected vertically by a crack from the border at 12:00 through the right side of L, bust, and digit 0 to the border at 6:00. The reverse has a bisecting crack through E of AMERICA, the eagle and shield, to the border at 6:00.

From Lester Merkin’s sale of March 1969, Lot 180.

Lovely 1804 Small Date $5

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759     1804 Breen-6443, B-3E. Rarity-5. Small Date. AU-58 (PCGS). Brilliant prooflike greenish gold lustre with minor surface abrasions. An attractive, highly desirable example of this variety. Very sharply struck and well-centered impression.

Perfect obverse. Reverse bisecting crack from 3:00 to 10:00 as previously described for this reverse die.

From Stack’s sale of the Winner Delp Collection, November 1972, Lot 795.

Attractive 1804 Small Date $5

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760     1804 Breen-6443, B-3E. Rarity-5. Small Date. AU-55 (PCGS). Light greenish yellow gold with faint orange toning over reflective surfaces. Very lightly abraded surfaces. An attractive example, nevertheless.

Obverse die is shattered with a crack from the border through star 10 to Liberty’s mouth, curving down through her face and hair to the digit 8 and the border. A branch extends up through her hair and cap to L. Another joins the border and hair left of the date and still another from the border to drapery right of the date. Heavy reverse clash marks with the bisecting crack as previously described.

From Paramount’s sale of May 1976, Lot 1073.

Scarce 1804 Small Date Half Eagle

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761     1804 Breen-6443, B-2E. Rarity-5. Small Date. Net EF-40; sharpness of AU-50, cleaned with right half of obverse burnished. Greenish yellow gold with considerable lustre remaining on the reverse.

Obverse and reverse bisecting crack as in the lot above. The obverse also has a horizontal crack through the eye and Y of LIBERTY to the border, and another crack through the tops of TY forming a retained cud.

From Quality Sales Corporation’s auction of the John A. Beck Collection, Part III, February 1977, Lot 293.

Delightful 1805 Half Eagle

Unusual Crossing Die Cracks

From the Eliasberg Collection

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762     1805 Breen-6444, B-1B. Rarity-7. AU-58 (PCGS). A wonderful coin with highly reflective lustre accenting the light greenish gold surfaces. Very minor planchet imperfections and hairlines are visible. A wonderful coin, important to specialists in early gold, not only for the die state described below, but also for the rarity of this die marriage. This is the only example of this die combination we have ever offered, pedigreed to its earlier appearance in our sale of the Eliasberg Collection.

The obverse die is shattered with horizontal and vertical breaks separating the die in four quadrants. A heavy vertical die crack from the border at 12:30 passes through B of LIBERTY, cap, hair curls, and drapery, severing the extreme right tip of digit 5, to the border just right of this digit. A thin die crack through base of the date bisects the vertical crack, and offsets the vertical crack. Further die cracks from the left border between stars 7 and 8 and from the right border between Y and star 9 both meet the vertical crack in curls just right of the ear. This die was in such an advanced state that we can almost imagine it falling out of the coining press in four distinct pieces. The reverse die, however, has light clash marks but no visible cracks. An interesting comparison of obverse and reverse die states.

When he compiled his monographs covering early half eagles in the 1960s, Walter Breen recognized six die varieties produced from four obverse dies and five reverse dies. Later, in his Complete Encyclopedia, Breen dropped one of these, listing two varieties for his Wide Date and three for his Close Date. Unfortunately, he did not state which of the Close Date varieties was delisted. Robert Miller listed seven varieties including Breen-1A and 2B, along with five he noted were not listed by Breen. Today, we believe that only Breen obverse 1, 2, 3, and 4 exist along with reverses B and D. Thus, the list of varieties is, in Breen’s notation: 1B, 2B, 3B, 4B, and 3D. Certainly, more research is needed. All five of these varieties are offered in the present sale.

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 351. From the Clapp Collection 1942; earlier from Elmer S. Sears 1924.

Important 1805 Half Eagle

Breen 4-B Rarity

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763     1805 Breen-6444, B-4B. Rarity-8. Wide Date. AU-58 (PCGS). The obverse has reflective light yellow gold lustre with thin parallel scratches through the left field, these no doubt preventing PCGS from assigning a higher grade. The reverse is frosty lightly yellow. Most attractive. This is an extremely rare variety; in fact this is the first example of this variety we have publicly offered for sale.

A die crack from 18 connects all stars to the left and continues through the tops of LIB. The reverse has very light clash marks.

From Quality Sales Corporation’s auction of the John A. Beck Collection, Part I, January 1975, Lot 355.

Important 1805 Wide Date $5

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764     1805 Breen-6444, B-2B. Rarity-5+. Wide Date. AU-58 (PCGS). Attractive light greenish yellow gold with slightly reflective surfaces. Light adjustment marks cross the bust of Liberty.

Very light obverse die cracks connect the base of 18, stars 1 through 7, and TY to stars 9 through 13. The reverse has very light clash marks. Several dentils at 12:30 are merged.

From Abe Kosoff’s sale of October 1968, Lot 824.

Choice Mint State 1805 Half Eagle

Close Date


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765     1805 Breen-6445, B-3B. Rarity-4+. Close Date. MS-64 (PCGS). A wonderful early half eagle with brilliant, frosty yellow gold lustre. Very choice surfaces with only occasional scattered contact marks. Light adjustment marks are noted on the reverse from 9:00 to 10:00, crossing TED and the wing tip, a few others faintly visible on and near the shield. Obverse weakness at stars 3, 4, and 5 is opposite the reverse adjustment marks.

PCGS Population: 5; none finer.

An obverse die crack from the border bisects digit 0, crossing drapery and hair, continuing faintly to left bottom of B. A patch of die rust is present at LI and a die line from star 8 extends over the cap.

Purchased from A-Mark Coin Co., March 16, 1978.

Choice Mint State 1805 Half Eagle

Close Date

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766     1805 Breen-6445, B-3B. Rarity-4+. Close Date. MS-63 (PCGS). Brilliant, frosty deep yellow gold with tiny splashes of coppery orange toning. A few very minor surface marks are noted. Very sharply struck with wide borders. Minor adjustment marks follow part of the reverse border. This is only the fourth Mint State example of this variety we have handled.

Minor obverse and reverse clash marks. The obverse is cracked from B in LIBERTY through the bust of Liberty to the digit 0 and border below. A branch from this crack crosses Liberty’s neck to star 13. A long die scratch from star 8 extends through the field above Liberty’s cap. Considerable obverse die rust around LI and scattered about. The reverse has no cracks.

From Stack’s sale of the Gaston DiBello Collection, May 1970, Lot 810.

Further 1805 Half Eagle

Close Date

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767     1805 Breen-6445, B-3B. Rarity-4+. Close Date. MS-63 (PCGS). Lustrous light greenish yellow gold with superb surfaces for the grade. A delightful example. A long, thin planchet lamination on the obverse appears as a streak of dark toning. Adjustment marks are located at the upper left reverse border.

Die state as preceding.

From Superior’s sale of the Charles Ruby Collection, Part I, February 1974, Lot 1792.

Pleasing 1805 Half Eagle

Close Date

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768     1805 Breen-6445, B-3D. Rarity-4. Close Date. MS-62 (PCGS). Rich orange-gold lustre with a trace of green on the obverse. The reverse has very light adjustment marks at 12:00.

Perfect obverse and reverse dies.

From Stack’s sale of the James A. Stack, Sr. Collection, October 1994, Lot 1046.

Brilliant 1805 Half Eagle

Close Date

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769     1805 Breen-6445, B-3D. Rarity-4. Close Date. AU-58 (PCGS). Frosty, brilliant light yellow gold with sharp design details and full borders. Light obverse adjustment marks are present. The surfaces have a few minor hairlines, otherwise the piece is superb.

Early die state: The obverse die line over the cap is not present. There is no indication of clash marks or die rust. A very light die crack bisects the obverse. The reverse is perfect.

From Stack’s 1971 ANA Sale, Lot 2117.