Coin Specifications

Category: Capped Bust $5 (1807-1834)
Mint: Philadelphia
Mintage: 95,428
Catalog: KM-43
Obverse Designer: John Reich
Reverse Designer: John Reich
Composition: Gold
Fineness: 0.9160
Weight: 8.7500g
AGW: 0.2577oz
Melt Value: $308.08 (12/21/2014)
Diameter: 25mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
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1813 $5 MS obverse 1813 $5 MS reverse


  
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Description & Analysis

In 1813 the half eagle was the only U.S. gold denomination being produced. Gold eagles had not been made since 1804 (they were resumed in 1838), and quarter eagle production was interrupted from 1808 until 1821. The Capped Head half eagles, produced from 1813 to 1834, were made during a period when widespread melting took place. Most of the coins never circulated, and they frequently went straight from the Mint into the hands of bullion dealers. Some forty thousand pieces of 'recent mintage' were destroyed in a single Paris melt in 1831, according to Walter Breen.

The reason for this mass melting of U.S. gold coinage was simple: the Coinage Act of 1792 had established a 15:1 ratio between silver and gold, but by 1813 the ratio in Europe was 16:1 or more. All circulating U.S. gold coins were now worth more than their face value in silver, as bullion dealers swiftly realized. Fifteen ounces of silver would buy one ounce of gold in the United States, but that same ounce of gold would bring sixteen ounces of silver in Paris or London. The 1813 half eagle is important to collectors for several reasons: First, it is the initial year in the Capped Head series. Second, it is by far the most affordable and obtainable date in the series, a series which few would dispute is the most difficult in all of U.S. numismatics. Of the seventeen major issues (excluding varieties) in this series, only the 1813, 1814/3, 1818, 1820, 1823, and 1826 are offered for sale with any degree of regularity. This means that the 'average' Capped Head half eagle issue is a rarity.

According to Jeff Garrett and Ron Guth, writing in The Encyclopedia of U.S. Gold Coins 1795-1933 (2006): 'The Capped Head to Left, Large Diameter type, issued from 1813 to 1829, contains some of the greatest rarities in American numismatics--coins such as the 1815 half eagle, the 1822 (three known), the 1825/4 (two known), and the 1829 Large Date. Most of the dates in this series have low mintages, usually below 50,000 coins. The 1820 half eagle has the highest mintage (263,806 coins), and the 1815 has the lowest (635 coins). Some dates, such as the 1819, have a reasonably high mintage (51,723 coins) but remain extremely rare today.' It is possible, however, that as many as 500 pieces still exist, and perhaps a few more. Many of the known examples have survived in Mint State, including quite a few near-Gems. However, the population drops off dramatically at the Gem level, and any 1813 half eagle in MS65 or better condition is an extreme rarity.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 8/29/2014

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1813 $5 MS
  GVGFVF4045505355586061626364656667686970
Base $ 1350 1900 4100 5250 8350 8350 10500 11250 12500 13250 15000 17500 19500 32500 56500 157500 350000 - - - -
$ 9000 11000 11750 13000 14000 - - - - - - - - -
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Census

 
NGC GRADE SUMMARY

Total Graded: 271
Low Grade: F
Average Grade: 60
High Grade: 65


Upcoming Auctions

A random selection of NGC coins is shown below.

Images
Date
Grade
Auction House
Sale / Lot
1/12/2015 AU Details  Heritage Auctions 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando Session(7), 1216/Lot# 7048
1/12/2015 AU Details  Heritage Auctions 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando Session(7), 1216/Lot# 7046


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
9/13/2006 NGC MS 62   Heritage Auctions 2006 September Long Beach, CA Signature Auction #416, 416/Lot# 3479 $14,950.00
5/1/2008 NGC AU 58   David Lawrence Rare Coins Thursday - Internet Auction # 243, 249/Lot# 6314 $10,350.00
11/23/2009 NGC AU 53   Teletrade Auction 2775, 2775/Lot# 2062 $8,050.00
6/3/2013 PCGS MS 64   Bonhams Coins and Medals, 20971/Lot# 2304 $52,650.00
9/25/2013 PCGS AU 55   Heritage Auctions 2013 September 25 - 29 US Coins Signature Auction - Long Beach Session(6), 1189/Lot# 6763 $10,575.00
1/26/2014 PCGS MS 61   Goldberg January 26-28, 2014 January Pre-Long Beach Sale 17.5% BP, 78/Lot# 1772 $14,100.00
2/9/2014 NGC AU 55   GreatCollections GreatCollections Coin Auctions 02/09/2014, 171/Lot# 165181 $8,800.00
6/2/2014 PCGS MS 70   Prooflike Stack's Bowers iAuction 3484, 6033/Lot# 20588 $925.90
6/16/2014 PCGS MS 70   Prooflike Stack's Bowers iAuciton 3486, 6035/Lot# 20989 $925.90


NGC Registry

NGC Registry Score 1813 $5 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base111230224642754321636013786390240674172426145915367654598541108114175184762453833204
11768235625602908334436623824395741024201437148495759764810263121121560820496274260
00000033443662382439574102420143714849575976481026312112156082049600
00000034723724386340124137423144815108615287511067213143170422251700
1813 $5 MS Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base1111111111111111111111
1111111111111111111110
0000001111111111111100
0000001111111111111100
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