Half Eagles
1804 Small 8 Over Large 8 $5 PCGS MS63
Written/Compiled by Dennis
Hengeveld
A very popular the date, the 1804 half eagle is a
relatively available coin for the year. Yet, like all early
gold pieces, this issue remains rare and is a true rarity in
higher grade. Minted more than 200 years ago, it is already
amazing that some pieces survived in any condition, yet in
what we now consider to be high grade, i.e. uncirculated
condition. This is one of the issues that has seen an
increasing demand because of publications about different
denominations of the same date, in this particular case the
famous 1804 Silver Dollar, a major rarity and an extremely
popular coin. Because of this, the 1804 date has been highly
coveted and appreciated by numismatists of all periods.
The red book, and other books, quotes the
usual mintage of the 1804 five dollar gold piece at
30,475 coins. Breen, in his Encyclopedia, mentioned that
the mintage might have been lower in reality, but
Bass-Dannreuther, in their book Early U.S. Gold
Varieties, however, mention that the number in fact
might have been higher. The discussion is based on
various factors, but mostly because of a comment made by
Breen that most 1803 half eagles were actually struck in
1804. This would mean that the reported mintages of 1804
no doubt included backdated coins, and that the true
mintage might have been lower. However, it would
certainly be possible that some of the 1804 dated half
eagles in fact were struck in later years, creating a
situation which is extremely common when it comes to
early gold. Determining mintages, even somewhat reliable
ones is a very hard task for early gold pieces, and
often mintages are quoted on earlier research and in
some way on tradition.
The mintage is known to have been struck from a total of
seven different die combinations. These were struck by
combining four obverses with 4 different reverse, of
which one reverse was previously used to strike two 1803
varieties. This die continued to be paired to 4
different obverse dies, lasting longer than dies usually
did at the time. These varieties, as per
Bass-Dannreuther range from rarity from R-4 (100 to 150
known in all grades) to R-7+ (4-8 known in all grades).
Miller, one of the earlier researchers of the half eagle
denomination listed another variety, but to this date it
has not been found and its existence has been doubted.
This is often the case with earlier reference books, as
their resources were more limited then in current times
and offerings were much scarcer (in general).
The 1804 half eagle obverse can be placed in two
different groups. The first, usually called “small 8” has
been named “normal 8” by Bass-Dannreuther. The second is
much more interesting, and also is a separate listing in the
red book, being slightly scarcer. It consists of a normal 8
struck over a large 8. This variety (three different die
varieties per Bass-Dannreuther) is one of the more
interesting repunched dates in all of American numismatics,
as the repunching is very obvious, even in lower graded
coins.
It has been suggested that the large 8 punch
might have been intended for the larger Ten dollar
denomination, but this has not been confirmed by modern
researchers. The other numerals, except the four are larger
than usual as well, so that comment might be disputed. There
is also a variety (BD-4) that has a recut 8. It has
sometimes been listed as a normal 8 over large 8 variety,
but this is not the case. That variety also made use of a
new punch for the 1 in the date, after the old broken punch
had been used since the beginning of the century.
This half eagle, despite its status as a popular
date is a relatively available issue up to the lower
numerical Mint State grades. However, unlike some of the
surrounding years no gems have been graded by the major
grading companies, making it less popular with advanced type
set collectors than it might have been. Natural coloration
is extremely rare, but appears to be green-gold with orange
red highlights in the protected fields. Uncirculated pieces
feature good eye-appeal, but adjustment marks are common and
can be distracting. Luster usually is good, but might be
lacking on processed pieces, which are better avoided.
