1814/3 Half Eagle NGC MS64 - 1814/3 $5 NGC MS64. BD-1, R4+. This fresh, near-Gem 1814/3 Half Eagle overdate is tied for the finest known at both NGC and PCGS. The coins surfaces are a mixture of yellow-gold and light orange. These colors along with the coins bright mint luster proclaim the coins originality. The surfaces are extremely clean with no abrasion marks visible without magnification. Clash marks are present, as seen on all coins of this type and date. The strike is excellent with full details on the centers of the stars, Libertys hair and cap, and the eagles feathers and shield. Dentils are full and strong on both sides of the coin. The overdate feature is prominent. As Bass notes in the Dannreuther and Bass varieties reference: Remnants of a 3 clearly visible at both sides of top of 4, below its crossbar at left, and on both sides of crossbar at right. Clearly this coin is a premium quality piece with all the attributes of a Gem half eagle.

The 1814/3 BD-1 is a single variety year in that only one die pair was used to make this date. Although 15,454 coins were minted, many may have been regular 1813 pieces. All 1814 coins are overdates; however, the undertype fades on later strikes.

Within six months of his assignment as Assistant Engraver, John Reich designed the new half eagle. They were immediately criticized because Liberty was seen as the artists fat mistress. The obverse includes the artists signature, the notch on star 13. Many of these pieces were saved because they were the first of a new design and distinctly different from the European and Latin American coins that circulated during this time. However, in 1834 the weight standard for gold was lowered, and many half eagles went into melting pots.

The obverse shows Liberty in profile facing left wearing a LIBERTY inscribed cap that was intended to represent a Phrygian cap. It has seven stars to the left of Liberty and six to the right with the date below. The reverse shows a heraldic eagle with its wings raised. It is more defiant than its predecessor with its mouth opened and its neck aggressively curved. The inscription UNITED STATES OF AMERICA is in an arc around the eagle, interrupted by the wing tips. On a banner over the eagles head between its wings is the motto E PLURIBUS UNUM. The denomination written as 5 D is below.  Dentils are seen at the periphery of both sides of the coin.

Reich corrected the error made by Robert Scot in the design of the previous half eagle (as well as his other heraldic eagle motifs). Scot had placed the arrows in the eagles right or dexter claw and put the olive branch in the left or sinister claw. This reversal of the positions of these two items is an inaccurate modification of the Great Seal of the United States. Arrows in the right claw symbolize extreme militarism, perhaps placed there because of the recent hostilities with France over shipping rights. The symbolism was being used to make a statement to France and others about the sovereignty of the United States. On the Capped Bust Half Eagle, the olive branch is in the right claw and the arrows are in the left.

John Reich, a skilled engraver, was born in Bavaria and came to the United States around 1800. In order to finance his passage, he sold himself into servitude. President Thomas Jefferson recommended that Reich be hired as an engraver at the Mint in 1801. When he was serving in Washingtons Cabinet, Jefferson was in charge of the Mint as Secretary of State. While in France, Jefferson developed a working knowledge of the minting process. Reich was hired for other duties, but he eventually became an engraver. He had a superb eye for the complicated aesthetics of coin engraving. At this time his freedom was purchased by an unknown mint official. Although Chief Engraver Robert Scot designed most of the coins at the mint since 1794, it was said that Reich had much more talent and ability than Scot.

In 1807, Reich was promoted to the position of Assistant or Second Engraver by Robert Patterson, the new Mint Director. Jefferson had urged Patterson to make this promotion because Scots eyesight was failing him. The promotion was timely because Reich was considering returning to Europe out of boredom with the menial tasks he had been assigned. Immediately Patterson assigned Reich the task of redesigning the nations coinage. He began with the half eagle and the half dollar, the two most important coins for commerce.

The design for the Capped Bust half dollar uses a buxom Liberty wearing a LIBERTY inscribed cloth cap, which gave the coin a distinctly European look. The heraldic eagle reverse symbolizes the Union with the arrows and olive branch in its talons. The design for the gold coin was similar but modified slightly to accommodate its smaller size. In 1807 both coins were released.
Reich made a similar design for the quarter eagle that was issued the next year. He also designed a new cent, a dime and a half cent in 1809, and a quarter in 1815 all of which used the capped bust motif.

Reich put the denomination of the gold and silver coins. This innovation had not been done previously because coins, especially in Europe, were valued for their metallic content and weight. By 1815 Reich had created a set of circulating coins with the common capped liberty obverse. In 1813 Reich modified the half eagle to become what is called the Capped Head   design.

After working for ten years as Assistant Engraver at the mint, Reich resigned in 1817. He had received no pay raise or promotion and little praise from Robert Scot. Scot remained the Chief Engraver until his death in 1823.

In its population report, NGC shows 8 1814/3 half eagles in MS64 condition with none better. PCGS shows 4 with none better. These numbers do not account for crossovers and resubmissions.