It is worthy of the Presidents attention that about eleven thousand dollars of the gold coin is the product of virgin gold found in the county of Cabarrus in the state of North Carolina, where it is said a very considerable quantity has been found since the last deposit, and will in all probability be forwarded to the Mint. -- Elias Boudinot, Report of the Director of the Mint, January 15, 1805.One of the most beautiful early half eagles extant, this specimen is without a doubt the most colorful, rich with deep magenta and coppery tones on the right side of the obverse, framed with orange and translucent ice blue on both sides that embrace deepest golden yellow fields. A spectacle and a prize, fully lustrous and impressively satiny, this piece exhibits some reflective character on the obverse. All devices are stunningly well struck, including the bold repunching of the first three date digits, though the use of two different size punches for the 8 has given this variety its chief identifier. A scattering of minor marks and abrasions is seen, none especially notable though we single out a line left of stars 9, 10, and 11 and a few little marks right of stars 3 and 4. The reverse, as usual, was more protected from casual handling, and examination finds only a minor abrasion in the space between STATES and OF.The obverse is unclashed and uncracked, though some evidence of lapping within the portrait device is seen in the space over Libertys shoulder and right of the lock that sweeps over her cap. The reverse, now an experienced hand in her sixth marriage, is both clashed and cracked. The clash is bold, showing the entire Liberty portrait, the 1804 date, and portions of LIBERTY, imbued by the previous (and very rare) marriage of this die. A long crack extends from the top of the wingtip at left, over L of PLURIBUS on a diagonal path to the center of the shield, then precisely horizontal to the tip of the highest olive leaf and directly through E of AMERICA.Just six years after the first modern discovery of gold in North Carolina on John Reeds farm in southeastern Cabarrus County, near Charlotte, enough gold was being transported to Philadelphia to make an impact upon the output of gold coins. More than 5% of the gold deposited for coinage in 1804 came from Cabarrus County, a number that would continue to grow, though much of the gold mined in the Carolinas was either wrought into form locally or exported without being coined. In 1829, the Mint Director reported coining $128,000 worth of gold mined in North Carolina. Six years later in 1835, legislation was passed to build a branch mint in the region.A famous rarity in its highest known state of preservation, this coin could only be found in the D. Brent Pogue Collection. As a variety, it nears the highest echelons of elusiveness, with a population of 15 to 18 specimens in all grades estimated in the Bass-Dannreuther book. This variety was not known to Breen in 1966, though specimens had been offered during his period of study (including the coin in the 1955 Farish Baldenhofer sale, a specimen of this variety that later ended up in the Harry Bass Collection) was acquired by Mrs. Emery May Norweb. Beyond its elusiveness as a variety, this ranks among the finest surviving specimens of the date. Not a single 1804 half eagle has been graded finer by PCGS.
