VERY RARE PCGS MS62 1834 CROSSLET 4 HALF EAGLE

McCloskey 5-D, R-4.

Varieties of 1834 Classic Head half eagles are known with a Plain 4 and a Crosslet 4. The latter is many times scarcer and it is actually the single rarest issue in the set in terms of overall rarity. There are an estimated 150 or so extant with the majority grading AU55 and lower. There are maybe a dozen in Uncirculated with most in the MS60 to MS61 range. Properly graded MS62's are very rare and I am aware of just two or three finer. The Pogue IV: 4049 was "only" a PCGS MS63 and the best I have seen was the NGC MS64 which brought $94,875 in the Stacks October 2008 auction.

Most 1834 Crosslet 4 Classic Head half eagles are lackluster and baggy and this pleasing example is a welcome exception to this rule. Struck in characteristic light green-gold and well defined for the issue, this coin is slightly reflective and it is strictly "new" with no luster breaks or high spot rub. There is a small strikethrough at 5:00 on the lower obverse that appears to be a small piece of wire (?) which was on the die when the coin was being made. I also note two very small reverse marks beneath the right wing.

No PCGS MS62 example of this variety has sold at auction since October 2006 when Stacks/ANR fetched a record $39,100. In the ensuing decade, only two NGC MS62's have sold. The aforementioned Pogue IV: 4049, graded MS63 by PCGS, sold to a knowledgeable Eastern collector for $49,350.

As specialized collecting of Classic Head gold becomes more widespread, the importance of high grade 1834 Crosslet 4 half eagles grows incrementally. This is the single best example on the market and it may be years before a finer piece is available.

Ex ANR 7/05: 227 where it realized $25,300 as an NGC MS62.

From the Western Springs colllection.