1831 $5 BD-2, Large D MS(PCGS#519949)

The Regency Auction 55

Auctioneer

Legend Rare Coin Auctions

Lot Number

179

Grade

MS65+

Price

387,750

Lot Description

A STUNNING GEM 1831 half eagle, the SOLE FINEST graded with the Large 5D on the reverse, and second FINEST KNOWN of all varieties, bested by the MS67 Seavey-Parmelee-Smith-Jenks-Clapp-Eliasberg-Pogue Small 5D. It is one of just three of the entire type to be approved by CAC at the MS65 or MS65+ grade level with just two finer that have received beans. The 1831 half eagle is incredibly RARE in all grades! The reported mintage for the date was 140,594 and two pairs of dies were used to produce them; pairing the same obverse with two distinct reverses: BD-1 has the a small D in the denomination 5D and BD-2, as here has a large D in the denomination. While the mintage was generous, these old tenor gold coins were worth more as gold bullion than as a circulating gold coin. Thus the vast majority were exported overseas, melted, and reimported as bullion; this circular trade reaped profits for speculators, but created many numismatic rarities. In all, John Dannreuther estimates 36-48 of all 1831 $5 gold pieces survive to the present time; 22-30 being of the BD-2 variety as offered here. An exquisite GEM of the first order! Boldly reflective, nearly fully Prooflike mint brilliance glows and captivates the viewer's gaze. The luster is blinding and highlights the vivid golden surfaces with swirling cartwheels that sweep across the generally smooth, clean surfaces when rotated in a light; head on, the reflective flash overpowers the more satiny brilliance. The strike was exacting, with the details crisply impressed from the dies. The fields are virtually flawless, and the only marks that are seen are limited to the edge, and only one of which is visible while the coin is encapsulated in the PCGS holder, a small, curved indent at 6:00. The visual allure is truly MAGNIFICENT and is one of the most exciting early gold pieces we have had the honor of offering. Ex Nathan M. Kaufman Collection, before 1918; Louis G. Kaufman, by descent, 1918; L.G. Kaufman Endowment Fund (First National Bank of Marquette, trustee), 1927; RARCOA’s sale of the N.M. Kaufman Collection, August 1978, lot 810; Stack’s sale of Rare and Important United States Gold Coins, October 1988, lot 83; Andy Lustig; Superior Galleries’ sale of May 1991, lot 1380; Anthony Terranova; private collection, via Larry Hanks; Larry Hanks, by sale, March 2002; D. Brent Pogue Collection; Stack's Bowers/Sotheby's sale of the Pogue Collection, Part IV, May 2016, lot 4041. PCGS 1, NGC 0, CAC 1. This coin's most recent appearance was in a notably weak point in the market, realizing $235,000 in May 2016. Since then, a PCGS MS64 CAC sold in August 2020 for $216,000. The current PCGS Price Guide value ins MS65+ is listed at $350,000. Early gold is always popular, especially in the HIGHEST of grades. This is an EXTREMELY RARE coin that will see very strong bidding when it crosses the block. Whether you are putting together the finest of type, date, or variety collections of early gold, or just want to put away world class, one of a kind, top pop sexy pieces, this coin will fit the bill. Do not let it get away! Cert. Number 32916346 PCGS # 519949