1834 $5 Classic Head Half Eagle, Crosslet 4 PCGS AU58

A coin such as the 1834 $5 Classic Head half eagle, Crosslet 4, is rarely offered for consideration. At this time, we are pleased to present it to you. Gold specialists understand the importance of this specimen, especially in the rare grade of AU58. This example would be perfect for a type set of the most important U.S. gold coins. If you wish to develop such a set, please reach out to AUCM for professional assistance.

      U.S. gold specialist David Akers writes, "The 1834...Crosslet 4 is many times more rare than the 1834 Plain 4. It has appeared at auction less often than any other date of this type including the 1838-C, and actually is just as rare as many of the more well known dates of the previous two types. Most known specimens are well worn with VF to EF being typical and AU and UNC virtually unavailable."

      Up until the creation of the $5 Classic Head half eagle in 1834, foreign silver, underweight foreign gold, and fractional banknotes served as currency in day-to-day U.S. commerce. Contemporary U.S. gold coins--with a bullion value in international markets that surpassed their face value in silver--were constantly the object of melting during the pre-1834 period. The one gold coin that realized the most elimination through melting was the Capped Head half eagle of 1813-1834. The Mint Act of 1834 dramatically altered that practice, producing gold coins that were reduced in weight so that they would circulate--which had not happened since 1795.

      U.S. Mint Director Samuel Moore wanted to get those new coins into the hands of consumers while concurrently withdrawing the gold coins of 1795-1813 from the public. Since he expected a huge demand for the new coins, Moore ordered chief mint engraver William Kneass to create a totally new design. To that end, Kneass crafted a dishevel-haired Liberty facing left, with thick and curly tresses held in place by a headband inscribed LIBERTY. The date was set below and the handsome, youthful head was encircled with 13 stars. The reverse featured the open-winged eagle from the previous version of the coin, surrounded by the inscription UNITED STATES OF AMERICA and 5 D. Congress wanted to indentify all the new coins by placing the date AUGUST 1, 1834, on them, but Moore decided instead to delete the scroll that had carried the motto E PLURIBUS UNUM since 1807--to help differentiate the new issues from those of the past.