1802/1 $5 Draped Bust, PCGS MS64+
$87,000.00
1 in stock
1802/1 $5 Draped Bust Rare Coin
PCGS MS64+
Type 2 Heraldic Eagle
Certification: 8083.64+/47412479
Mintage: 53,176
PCGS POP: 4/2
CONDITION RARITY IN AN OVERALL RARE ISSUE
This rare MS64+ specimen exhibits sharply detailed design elements. The well-preserved antique-gold surfaces radiate vibrant mint luster, with simply outstanding eye-appeal. Overall, the 1802/1 $5 is a rarity; in its assigned grade of MS64+, however, it becomes a highly desirable Condition Rarity. Significantly, the price jumps to around $140,000-$160,000 for an MS65 example.
A substantial mintage of 53,176 Capped Bust Right half eagles was produced in 1802. This 1802/1 $5 Draped Bust issue was created by punching a 2 over the final digit in dies dated 1801. Despite the substantial mintage, this is a rare issue, for according to the population reports for PCGS and NGC, there are a combined 668 grading events against the original mintage of 53,176. That represents a mere 0.0125 percent of the mintage.
Why is this issue such a rarity? Alexander Hamilton’s Mint Report of 1791 determined that the gold to silver ratio was 1:15. However, that ratio undervalued gold coins and the vast majority of gold coins—especially $5 half eagles—were exported to Europe for their melt value from 1794 until 1834.
Additional information
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| Year | 1802/1 |
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