Classic Head Gold Collection, Part 3, 1834, Crosslet 4 Half Eagle
BillJones
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1834 Half Eagle, Crosslet 4
Mintage Unknown, a small fraction of 657,460 pieces
Estimated Number of Survivors 125
Numismatists have acknowledged that the 1834, Crosslet 4 half eagle is a very scarce coin for many years. The traditional rule of thumb has been that the 1834 Crosslet 4 five dollar gold is 10 times rarer than the Plain 4 variety.
Very few Mint State examples are known. PCGS estimates that the number of Mint State pieces is 12 on their “Coin Facts” site. To date NGC and PCGS have reported that they have graded each graded nine of these coins in the Mint State grades for a total of 18 pieces. Experts have told me that the grading service population numbers are inflated because the same coins have been submitted for grading multiple times.
Although the coin shown above is graded MS-61, it is not a Mint State coin in my opinion. My auction research indicates that this piece was once in a PCGS AU-58 holder, which is a more accurate description of this example.
I bought this piece from U.S. Coins, and it was quite a shopping adventure. I first saw this piece on-line using the "shop" function on the PCGS Registry in the fall of 2016. The price was set at full retail and looked a bit high to me. I held off acting on it because I really wanted see this coin in person given the five- figure price. At one point it disappeared and came back again on their website.
I went to see U.S. Coins at the Baltimore show and asked to see the piece. After spending a lot of time going through their boxes, they told me they couldn't find it, and that it had probably sold. The picture and listing disappeared from their website, so I assumed that was what had happened.
In early December it popped up on their site again. This time I called them, and they sent it to me on approval. I called them, and we had a lengthy negotiation. It was little like going to a car dealer. ("Let me check that offer with the boss") When we came within $500 of my offer, I decided to buy it.
There are not a lot of these coins around, and finding one that fits into a Choice AU to low MS set is tough. Some people say there are as many as 175 of these coins that have survived. Even if that is so, that is not very many. The specialists have also told me that the Mint State 62 numbers are inflated because of resubmissions.
I think that the coin was graded correctly when it was in the AU-58, but sometimes you have to stretch when the opportunities are few.
Comments
That's a lovely example of a date I've always liked, Seems undervalued in lower grades too. Better (by photo) than either of the two 58's that have been sold at auctions (both at HA,13K-16K) in the last 5 years or so.
Thank you, Colonel. I am quite sure that this coin is the rarest piece in the "Red Book" set of Classic Head gold. As for the minor die varieties, that could be another matter. This set was hard enough to put together.
Here are the vendor's photos which make it look better. My photos always make the marks look bigger so the "real coin" falls somewhere in the middle.
Very nice pickup and write up.
Do you have a link to the US Coins website? Googling US coins of course comes up with quite a few search results and I'd like to take a look at their site but can't seem to find it and uscoins.com seems to not be the right one.
Excellent specimen of a very scarce variety. Also, completely agree that the coin is not Unc -- but who cares? It's fine as it is!
I always appreciate your posts - nice piece!
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Here is a link for you.
https://www.buyuscoins.com/
Thanks!
All Crosslet 4s are die clashed. On the reverse, the letters ERT and part of Y of Miss Liberty's hair ribbon are readily visible within the vertical shield stripes, along with her hair below the R. On the obverse, the shield lines are more faintly seen in the hair detail above and below the ear, as well as on the ear itself.
In the earliest auction known to include the 1834 $5 Crosslet 4, William H. Woodin, later to be Secretary of the Treasury, sold his duplicate About Uncirculated example during the sale of much of his gold collection, including his Classic Head quarter eagle collection, at the Thomas Elder sale of March 1911. Lot 1406 sold for $30.
Such a tough coin! I have this as a key coon on my want list. Nice Bill!
Latin American Collection
@BillJones
Beautiful and Rare. It's everyone's dream. Thank you for sharing the pictures along with the story
What an effort....
CoinFacts will get you images of some (few) better from auction, Pogue's being the OMFUG apogee
Very nice coin... I have only seen pictures of the Crosslet 4 coin... Often looked for one at shows but never saw one... Thanks for the information Bill... Cheers, RickO