1834 Capped Head Left Half Eagle. BD-2. Rarity-5. Crosslet 4. MS-62+ (PCGS).This is a beautiful Mint State example of the rare final-year Capped Head Left half eagle issue. Lustrous frosty to semi-reflective surfaces also deliver vivid color with deep olive underlying bright yellow-gold. Wisps of pinkish-rose are also evident around the reverse periphery and, especially, in the center of the obverse within the hair curl before Libertys ear. Sharply to fully struck in virtually all areas, and impressively smooth for the assigned grade, we note only wispy handling marks precluding a Choice Mint State rating. BD Die State b/b.<p>The half eagles delivered to the treasurer of the Mint on June 30, 1834, were the last of the Capped Head Left design type, and also the last gold coins issued to the original standards defined by the Mint Act of 1792. After August 1, 1834, a depositor who brought $500 face value of these coins to the Mint would receive $533 worth of freshly minted Classic Head gold coins. Most 1834 Capped Head Left half eagles were thus converted to new coins, ones that actually saw use in commerce. While 50,141 half eagles of this type were coined in 1834, the combined population estimates in the Bass-Dannreuther text (2006) place the number of survivors in all grades today at fewer than 100 pieces. The BD-2 variety offered here accounts for 45 to 55 of those coins. The only other Crosslet 4 die marriage of the issue, BD-4, is unique and wears the crown of the "King of the Fat Head Fives" (as described in the Bass-Dannreuther reference). The other two die marriages correspond to the Plain 4 <em>Guide Book</em> variety and include the scarce, but obtainable BD-1 (30 to 40 known), and the non-collectable BD-3 (three to five known).<p>The supreme challenge that the Capped Head Left half eagle series represents for gold type collectors is perhaps best described by John W. Dannreuther when writing about the offered example of the 1834 BD-2 when it was part of the Harry W. Bass, Jr. Core Collection:<p><em>The single example in the core collection is the only example Bass obtained, although this is the other available variety of this date and one of the most commonly seen ones for this type. There are probably 45 to more than 50 different specimens of this variety; this is still a scarce and popular coin, but the type is rare, so this is one of its available varieties.</em><p>On the other hand, few examples of this historic punctuation mark in the history of United States gold coins have survived in such fine condition. Mint State coins as a group are notable condition rarities for, while this issue did not circulate in the modern sense of the term, most received enough handling to qualify as About Uncirculated by todays grading standards. The lovely 1834 BD-2 Capped Head Left half eagle in our May 2016 Pogue IV sale numbers among the finest known for the die pairing and was certified MS-63+ by PCGS in that offering. The Larry H. Miller specimen is even finer and was certified MS-65 by NGC when sold in our December 2020 Auction. The Bass-Chicago Collection specimen in MS-62+ also enjoys a spot on the Condition Census for this die pairing. Our own Q. David Bowers described it as an "outstanding example" with "satiny greenish gold lustre and light cameo contrast." It is a beautiful and highly significant coin, and we anticipate fierce competition when this lot opens for bidding.PCGS# 519956. BASE PCGS# 8161. NGC ID: 25RP.PCGS Population (both die marriages of the Crosslet 4 variety): 1; 6 finer (MS-64+ finest).From the Chicago Collection. Earlier ex Lester Merkin, May 17, 1974; Harry W. Bass, Jr.; Heritages sale of the Harry W. Bass, Jr. Core Collection, Part II, January 2023, lot 9050. The plate coin for the variety in the 2006 Bass-Dannreuther reference on early U.S. Mint gold coinage, p. 436.
