Coin Specifications

Category: Capped Bust $5 (1807-1834)
Mint: Philadelphia
Mintage: 58,087
Obverse Designer: John Reich
Reverse Designer: John Reich
Composition: Gold
Fineness: 0.9160
Weight: 8.7500g
AGW: 0.2580oz
Melt Value: $331.84 (10/17/2017)
Diameter: 25mm
Edge: Reeded
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1812 $5 MS obverse 1812 $5 MS reverse

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Description & Analysis

While 1812 half eagles are of interest to many of today's collectors simply as the final year of this coinage type, this should be a magical date for a reason of far more significance. George Washington and his Federalist party's political agenda of mending relations with Great Britain while at the same time bolstering the young nation's Army and Navy, and fortifying cities on the Atlantic Ocean with forts capable of warding off naval attacks, had given way to an era of belt-tightening. The Democratic-Republican party of Presidents Jefferson and Madison came into office in 1801 on a wave of voter sentiment that called for reducing the national debt from the early years of maintaining a strong military. The budgets of those two presidents cut spending for defense and passed treaties that favored trade and alliance not with Great Britain but with France, the old Revolutionary War ally. Beginning in 1809, as he entered the White House, President Madison actually believed that another war with Britain could be beneficial to the United States. Tensions rose in the American capital and spread slowly up and down the Eastern Seaboard, as commercial trade with Britain slackened. A scare spread through the former Colonies as war approached.

The British, more savvy in warfare and in diplomacy, realized that the American military was now undermanned because of budget cuts and that none of the former American military commanders who had defeated them in the Revolutionary War remained in the Army or Navy. Furthermore, as plans for a series of coastal forts were abandoned through the first decade of the new century, Britain realized that America's cities were open to invasion. When war was declared on Great Britain by the Democratic-Republican Congress in the spring of 1812, it was not Britain but America that was threatened, it was not Britain but America that temporarily lost its greatest natural ally and commercial partner, and it was not London but Washington City (as the capital was then called) that foreign troops would invade. Shortly afterward, Redcoats burned and nearly destroyed the White House, the government itself had to seek refuge, and the War of 1812--which lasted two years and eight months, from mid-June 1812 through mid-February 1815--became, in effect, America's second war of independence. Some saw disaster looming in 1812, including Daniel Sheffey, a Virginia Federalist, who wrote: 'We have considered ourselves of too much importance in the scale of nations. It led us into great errors ... we have imagined that our own destiny ... was in our own hands ...' A few citizens took action to safeguard their own welfare: As Walter Breen pointed out in his Complete Encyclopedia, a number of Mint State 1812 half eagles exist, 'apparently from an old hoard.' Doubtless, a scattering of the largest, newest American gold coins then being minted, the five dollar pieces, 'went into hiding' as those who saw the War of 1812 coming saved their gold, accounting for today's luxurious if tiny supply of pristine pieces bearing that year's date. The 1812 is the final year of the John Reich Capped Bust Left design and this is the scarcer of the two die pairings used this year. Although Mint records indicate a production figure of only 58,087 pieces in 1812, some experts have suggested that many of the half eagles delivered in 1813 may have actually been from 1812 dies.

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


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Price Guide

Last Updated: 3/16/2016

Click on a price to see historical prices, comparison charts and trends.

1812 $5 MS
Base $ - 1625 3700 4900 6800 9500 10450 10850 12000 13500 15000 18500 27500 42000 135000 250000 - - - -
$ - - - - - - - - - 76000 - - - -

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Total Graded: 217
Low Grade: F
Average Grade: 60
High Grade: 65

Upcoming Auctions

Auction Prices Realized

A random selection of coins is shown below.

Auction House
Sale / Lot
7/15/1996 PCGS AU 55   Teletrade Auction 0858, 858/Lot# 1911 $2,848.50
2/11/2007 NGC MS 63   Goldberg February 11-14, 2007 Pre-Long Beach Coin and Currency Auction, 39/Lot# 2266 $20,125.00
1/6/2011 NGC Details AU Details  David Lawrence Rare Coins Thursday - Internet Auction # 547, 554/Lot# 5071 $6,037.50
7/27/2013 PCGS MS 64   Stack's Bowers The August 2013 Chicago ANA World's Fair of Money , 192/Lot# 4483 $61,687.50
1/26/2014 PCGS MS 64   Goldberg January 26-28, 2014 January Pre-Long Beach Sale 17.5% BP, 78/Lot# 1771 $37,600.00
4/20/2014 PCGS Genuine UNC   GreatCollections GreatCollections Coin Auctions 04/20/2014, 186/Lot# 187770 $7,425.00
6/4/2015 PCGS MS 61   Heritage Auctions 2015 June 4 - 7 Long Beach Expo US Coins Signature Auction - Long Beach Session(2), 1221/Lot# 4242 $9,987.50
8/13/2015 PCGS   Stack's Bowers 2015 Chicago ANA, 6104/Lot# 10245 $105,750.00

NGC Registry

NGC Registry Score 1812 $5 MS Prooflike
1812 $5 MS
Registry Image Gallery
Grade: MS 61
Points: 4016
Owner: eQuine Holdings Collection
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