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February 20, 2015

COIN OF THE WEEK

RARE 1807 CAPPED BUST $5 PCGS MS63, BUST LEFT - $26,000.00
Click on Coin Image to enlarge


Eye appealing luster drips from this lovely Early 1807 Half Eagle. The coin has clean fields with virtually no contact marks observable. The strike is full and sharp on both sides. We see every detail of each device including all of Liberty’s curls and every feather on the eagle and line in the shield. Light clash marks are seen on the obverse, which do not detract from the coin’s eye appeal or grade. 1807 is the first year of this issue, which was designed by John Reich. He also used this design for the half dollar. Some of his contemporaries criticized the obverse because they said that Liberty looked like his “fat mistress.”

Please contact me by email or telephone 1-800-624-1870 to reserve this great coin.

Liberty faces left, perhaps to the West, instead of right, to Europe as did its predecessor. In addition to looking left, Liberty wears a modified Phrygian cap. A true Phrygian cap or pilleus was shaped like half an eggshell. In ancient Rome it was worn by former slaves to symbolize emancipation and to conceal the closely cropped hair or shaved head, which marked slave status. In 1825 Mint Director Samuel Moore asked Thomas Jefferson if the cap was a suitable emblem. Jefferson responded that a liberty cap should not be worn by a goddess who herself represents liberty, after all we were never slaves. However, the device continued to be used on gold coinage until 1834.

A second change that Reich made was the addition of the denomination on the coin. Most previous precious metal coins did not include this information. They were valued by their weight and fineness, as were European coins, and thought of as bullion. Reich used “5 D.” for the denomination. He used the numeral and the abbreviation because lettering would have interfered with the olive branch leaves, and the design would have been much too crowded. He also “fixed” the mistakes made by Scott, his predecessor. The previous heraldic eagle had arrows and olive branch in the wrong claws, showing either very warlike symbolism or naïve confusion. Reich also removed the stars and clouds above the eagle and moved the banner with E PLURIBUS UNUM to arc above the eagle.

While serving as the Secretary of State, Thomas Jefferson was also in charge of the Mint. In his travels to France, Jefferson learned about the various aspects of the minting process. In 1801, as president, he recommended that John Reich be hired as Engraver at the Mint. Reich was a skilled engraver who had sold himself into indentured servitude in order to finance his passage to the United States from Bavaria. While John Reich was unable to become the Engraver, he was hired for other duties and became Robert Scott’s assistant. Because Scott’s eyesight was failing, the new Mint Director, Robert Patterson assigned Reich to redesign.


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ADDITION NEW COINS ADDED - (Week of 2/20/2015)

1652 Pine Tree Shilling PCGS MS64. LARGE PLANCHET

1794 Liberty Cap Half 1c NGC MS61 BN. Normal Head

1876 20C PCGS PR67 CAM. GEM CAMEO PROOF

1859 3CS NGC MS66+. GEM SURFACES WITH AQUA RUSSET TONE

1871 Nickel Three Cent NGC MS67. A WONDERFUL GEM

1865 Silver 3 Cent NGC PR67 CAMEO. GEM CAMEO

1858 3CS NGC PR67. GEM PROOF

1857 3CS PCGS MS66 CAC. TYPE 2. A FABULOUS GEM

1868 2C NGC PR67 RD. GEM RED

1857 Large 1C PCGS PR66 BN. SMALL DATE

1853-O Gold $1 PCGS MS64. SCARCE NEW ORLEANS MINTED COIN

1851 Gold $1 NGC MS66. JUST 8 GRADED HIGHER AT NGC

J-67 1836 Gold $1 Pattern PCGS PR66 CAMEO

1900 Lafayette Silver S$1 PCGS MS66. GEM!

1894-S Morgan Silver $1 NGC MS66+. GEM SATIN WHITE

1903-O Barber 10C PCGS MS66+ CAC. SATIN WHITE

1794 Liberty Cap 1C NGC MS65. HEAD OF 1794. S-29

J-929 1870 50C PCGS PR64 RB CAC

1652 Oak Tree Shilling PCGS AU50

1892 Liberty Seated 25C NGC PR68 CAC

1885 Liberty Seated 25C PCGS PR67 CAMEO

1885 Liberty Seated 25C NGC PR67 UCAM

1883 Nickel Three-Cent 3CN NGC PR68 CAMEO

1881 Three Cent Nickel 3CN NGC PR68 CAMEO

1799 Draped Bust Silver $1 PCGS AU53. WELL STRUCK.

1797 Draped Bust Silver $1 NGC MS63. SMALL EAGLE

1879-S Morgan Silver $1 NGC MS65 DMPL. GEM WHITE. REV OF 1878

 

Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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