2017-06-16 Fri

A lovely MS-62+ (PCGS) CAC 1811 Capped Bust Left half eagle will be offered by Baltimore Auction in June. This BD-1, Tall 5 variety is one of the finest known survivors.

The 1795 half eagle was the first gold coin struck by the United States Mint for circulation. The $5 half eagle was more practical for everyday commerce than the $10 eagle. Due to lesser bullion deposits, initially, the production was limited. Mintage limits increased in the early 19th century.

After 1804, the production of Eagle coin was stopped. From 1809 to 1820, half eagles were the only gold coins struck. This was because bullion depositors mostly wanted the largest denomination instead of their precious metal. The gold content of Half Eagles was more than their face value sometimes. This led to melting of coins on a large scale. That’s the reason why actual mintage limits do not suggest the coin's rarity. 1811 half eagle was struck in two varieties: one has a smaller “5” on the reverse while the other type has a Taller 5. Tall 5 examples are rarer than Small 5 variety. They are even rarer in Mint State.

The offered coin has a yellow surface and is honey gold in certain regions. The design elements are sharp and the portrait looks beautiful. The fields are undisturbed and smooth. A little die crack and adjustment marks are seen. Some marks suggest that the coin was struck through a thread or wire.