Lot 3802
1835 $5 Classic Head. AU-55. A few minor hairlines. Nice luster. An attractive example of the date. The continued exporting of American gold coins finally caused congress to act by the 1830s. In their coinage Act of June 28, 1834, the mint was instructed to lower the gold content of Half Eagles just sufficiently to where speculators found them no longer profitable to melt. It has been estimated that upwards of 98% of the original pre-1834 No Motto mintage was consigned to the melting pots, to be turned into 1834-38 half eagles (and to a lesser extent, quarter eagles). Much was refashioned into these 1835 coins designed by William Kneass.
Estimated Value $1,200 - 1,500.
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| Realized $2,070 |
