1818 Capped Head Left Half Eagle. BD-3. Rarity-5. 5D/50. MS-63 (PCGS). CAC.Memorable quality and eye appeal define this example of a scarcer die marriage of the challenging 1818-dated half eagle issue. Lustrous golden-olive surfaces are fully frosted in finish with appreciable semi-reflective qualities in the fields. A firm strike has imparted razor sharp to full definition to virtually all design features, only the highest points of the eagles talons left a tad soft, and to no detriment. With only a few wispy marks, the overall appearance is smooth and close to Choice Mint State quality. BD Die State b/b.<p>The three known die marriages of the 1818 half eagle are easy to distinguish since two display very prominent diagnostics. The variety now known as BD-3 was likely discovered by Harlan Page Smith, a dealer who was one of the foremost collectors of United States gold coins of his generation, but it wasnt described in print until the example he owned was sold after his death. S. Hudson and Henry Chapman offered the H.P. Smith Collection in May 1906, noting in their description of that specimen, "The D in the denomination has been cut over the letter O showing that the die sinker originally made it 50 instead of 5D." They correctly surmised that the die originally read 50; the character beneath the D is a 0, not an O. John W. Dannreuther (2006) credits the Smith specimen as the discovery coin for the variety in <em>Early U.S. Gold Coin Varieties</em>; it was later part of the D. Brent Pogue Collection and realized $223,250 in our February 2016 Pogue III sale, as PCGS MS-66+. Dannreuther further notes that examples of this die marriage were recognized by Waldo Newcomer, Edgar H. Adams, and William H. Woodin, all early 20th century specialists in early U.S. gold. Woodin brought a specimen of the 1818 5D/50 variety to the 1914 ANS Exhibition.<p>The BD-3 is the second rarest variety of this issue, accounting for only 7,500 to 10,000 of the approximately 48,588 coins struck. Dannreuther opines that only 35 to 45 examples are extant in all grades, while <em>PCGS CoinFacts</em> takes an even more aggressive stance with just 25 to 35 known. The Chicago Collection specimen is one of the very finest, and is highly recommended for another advanced early gold cabinet.PCGS# 8120. NGC ID: BFXW.PCGS Population: 5; 3 finer (MS-66+ finest).<p>CAC Stickered Population: 3; 2.From the Chicago Collection.
