1959: 1834 $5 Plain 4 MS65 <S NGC. Start Price USD 29,000.00 Current Price USD 35,000.00 Time Left - Bid Count 1 Buy It Now Price - Reserve Price - Start Time Thursday, July 31, 2008 End Time Friday, August 01, 2008 Location Baltimore, MD See more about '1959: 1834 $5 Plain 4 MS65 <S NGC.' Description click for larger image1959: 1834 $5 Plain 4 MS65 1834 $5 Plain 4 MS65 NGC. First Head, Breen-6501, McCloskey 1-A, R.3. Designed by Engraver William Kneass, the Classic Head half eagle was the first gold coin minted with the reduced weight specified by the 1834 Mint Act. The obverse was adapted from John Reich's Liberty design for the 1808 cent but with an updated, more youthful and classical appearance. The short five-year series has three major 1834 varieties, including a Plain 4 First Head, a Plain 4 Second Head, and the rare Crosslet 4--the horizontal extension of the stroke of the 4 has a serif-like crossbar at the end. The half eagle has been called the workhorse of early 19th century commerce. But, in spite of fairly robust mintages, half eagles did not extensively circulate. This paradox was due to the fact that the bullion content of gold coins in those years exceeded the face value. Many coins were either stored in bank vaults or exported and melted. Because of this, by the early 1830s gold coins had virtually disappeared from circulation, and it became apparent that something needed to be done. That something was the 1834 Mint Act, which reduced the weight of all gold coins and removed the incentive to melt them. To distinguish the new 1834 half eagles from the old E PLURIBUS UNUM was removed from the reverse. Though the McCloskey 1-A variety is considered common, most survivors are in VF through Choice Mint State grades. Jeff Garrett and Ron Guth in their Encyclopedia of U.S. Gold Coins, 1795-1933 note that lower Mint State 1834s are " ... fairly easy to find, but anything nicer is extremely rare." This is a wonderful example of the Classic Head type. The devices are fully struck, an attribute that is rarely seen on this or any date in the series. The fields are deeply prooflike and the devices show a slight overlay of mint frost. The color is bright yellow-gold throughout, and of course, there are no mentionable abrasions on either side. The present coin is one of only eleven 1834 half eagles graded MS65 or higher by both NGC and PCGS (6/08), and the only Gem half eagle to receive NGC's designation for exceptional eye appeal. As such it represents a unique opportunity to acquire a beautiful, conditionally rare coin that is considered a striking example of early 1800s Neoclassical coin design.Coin Engraver: William KneassShipping: Coins & Currency (view shipping information)Important notice: Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. 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If you choose to place an absentee bid, please take a moment to learn how eBay Live absentee bidding works Auction House Info Heritage Auctions 3500 Maple Avenue 17th Floor Dallas, Texas 75219-3941, United States Tel: 214-528-3500 Fax: 214-443-8425 EMail: EbayLive@HeritageAuctions.com CLICK TO Ask a Question ABOUT THE LOT OR AUCTION FOR TECHNICAL SUPPORT CONTACT EBAY LIVE AUCTIONS Terms & Conditions Please view our complete Terms & Conditions at the following web address: http://www.heritageauctions.com/common/images/TermsAndConditions.pdf Auction House Heritage Auction Galleries3500 Maple Avenue17th FloorDallas, TX United States 75219800.872.6467Terms & Conditionshttp://ha.com/common/auction/terms_and_conditions.phpShippingBuyer Pays Shipping CostBuyer's PremiumUSD 0 - USD 999  20 %USD 1000 +   20 %PaymentContact For Payment DetailsTaxesLocal Taxes ApplyContractYour bid is a contract.Place a bid only if you're serious about buying the item. 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