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1834 CAPPED BUST $5 NGC MS 61

$115,500.00

Total

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1834 CAPPED BUST $5 NGC MS 61

Grading Service: NGC
Cert Number: 4627829012
SKU: 132770

Coin History

The early years of the United States Mint were fraught with problems: The equipment was crude, serviceable die steel was difficult to obtain, and until 1816, men and horses, not steam, supplied power to operate the machinery. But one of the most serious problems facing the new enterprise was a lack of experienced personnel, particularly in the area of design and engraving. 

When the Mint began operations after the Coinage Act of 1792, employing suitable officers and workmen became one of the first priorities. As early as 1790, Secretary of State Thomas Jefferson (then the Cabinet officer in charge of the Mint) had been attempting to recruit qualified artisans from European cities where minting methods were state of the art. Jefferson had attended an exhibition at the Paris Mint in 1786, where he observed the operation of an improved coining press and was quite impressed with the machine and its inventor, French engraver Jean Pierre Droz. Droz’s methods were at the cutting edge of late 18th-century technology, and Jefferson was determined to retain his services for the proposed United States Mint. After some initial correspondence in 1786-87, the matter was tabled, as Droz apparently needed immediate employment and the Mint’s opening was still several years away. In 1790, negotiations with Droz were resumed and initially he accepted Jefferson’s offer, but later he declined, citing personal reasons. 

As the new Mint facility in Philadelphia began to take shape, a talented engraver was still to be found. Coiners Henry Voight and Adam Eckfeldt assisted in the preparation of the first dies, but it was not until August 1793 that the artist Joseph Wright was appointed as engraver. Unfortunately, Wright died a few weeks later from yellow fever, in the annual epidemic that struck Philadelphia in the summer months. He was succeeded by Robert Scot, an English watchmaker and banknote engraver of some repute. Scot’s talents as a die engraver, however, were marginal at best. Many of his early coinage designs received widespread criticism, putting him on the defensive from the very beginning. Apparently fearing competition, he thwarted every effort by Mint Director Henry DeSaussere to engage an assistant engraver. When John Smith Gardner was finally appointed to that position at the end of 1794, he lasted only 16 months, probably due to Scot’s jealousy and harassing tactics. For years, Scot’s authority and position would go unchallenged, and his designs continued to reflect his limited skills. Probably his best work is his 1795 design for the first half eagle, with its Draped Bust portrait of Liberty and its small eagle on the reverse. The small eagle gave way to the heraldic eagle in 1798, but by the turn of the century, Scot’s failing eyesight increasingly limited his usefulness as an engraver. 

During this era, thousands of immigrants began to arrive on the shores of the United States, including many refugees of the Napoleonic Wars. One of these emigres was John Reich, a German engraver who sold himself into indentured servitude in return for passage to America. By 1801, his skills were renowned in Philadelphia, even to President Thomas Jefferson, who recommended to Mint Director Elias Boudinot that Reich be employed. Boudinot complied, but apparently in deference to the excessively territorial Scot, Reich was not allowed to design coins but was assigned other miscellaneous tasks. 

Scot was 62 in 1807 when the new mint director, Robert Patterson, implored Jefferson for permission to formally hire Reich. By this time Reich was so disgusted with doing menial tasks at the Mint and enduring Scot’s jealousy that he was ready to return to Europe. Patterson was not about to lose Reich’s services, and offered him the permanent position of assistant engraver at a salary of only $600 per year—half of the $1200 Scot received. Patterson immediately assigned Reich to revamp all the coinage designs. He began with the half dollar and half eagle, the two “workhorses” of commerce in that era, preferred by banks for international payments and reserves. 

The Capped Bust motif Reich created for the 1807 half eagle features a buxom Miss Liberty facing left, flanked by seven stars to the left and six to the right. She is wearing a cloth cap inscribed LIBERTY, with curly hair falling out from the edge of her cap down to her shoulder. Reich’s Liberty has a distinctly European look, completely different from any previous depiction. When the coins entered circulation, newspapers of the day sardonically reported that Reich’s rendition was actually modeled after “the artist’s fat mistress.” Although the designer’s initials were not on the coin, almost all of Reich’s obverses have a characteristic notched point on the lowest star on the right—as his “signature.” On the half eagles, the notch faces the coin’s border. His reverse design depicts an eagle with outstretched wings, perched on a palm branch and holding three arrows in its claws. The motto E PLURIBUS UNUM appears on a ribbon above the eagle, and the inscriptions UNITED STATES OF AMERICA and 5D. surround the central design. One of Reich’s innovations was to place the denomination on gold and silver coins. Except for the copper coins and the 1796-97 half dollars, earlier designs had no indication of value, commonly passing by weight and fineness. 

The Philadelphia Mint struck only 399,013 half eagles of this type between 1807 and 1812, and many were melted in later years, suffering the same fate as most U.S. gold minted before 1834. Possibly 1% of the mintage survived, mostly as curiosities, along with a few examples saved by early numismatic pioneers. Although there are some very scarce varieties such as 1808/7 and the 1810 small or large dates with small 5, these are usually only of interest to the dedicated specialist. Complete date sets are within the reach of many collectors, although the design is generally collected as a “type.” 

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General Delivery

(Excluding Safes)

We will deliver your order in the fastest and safest way possible as soon as payment is cleared and the stock is available. We use Royal Mail and UPS for our deliveries. Most orders are sent with Royal Mail and for orders under £250 these will be sent using the Royal Mail Signed For 1st Class delivery service which is Insured by us and should arrive within 1-5 days from the day of dispatch. Orders above £250 will be delivered using the Royal Mail Special Delivery service which should be guaranteed to arrive the NEXT day after the day of dispatch. Large silver orders will be delivered by UPS and will arrive 1-2 days after the day of dispatch. For most orders within the UK the UPS service is next day except to outlying areas of the UK.

Our packaging is discreet and we do everything to minimise the chance of anyone guessing the contents of the parcel. No reference to bullion or coins will be on the packaging. We fully understand the need for discretion and security.

We ask that you assist us in getting the order to you safely by making sure that the addresses you register are correct and that any card payments are made from a card registered in both your name and also to your address.

ALL parcels of any value are fully insured by us until signed for by someone at your address.

Ownership of goods passes to the customer once full payment is received and a signature has been accepted at the address provided by the client at the time of order.

Any failure to deliver an order on our part will result in a full refund of the original amount paid or goods as a replacement. No liability will be accepted by us for any price fluctuation in those circumstances. We cannot be held responsible for delays to the postal system which may affect delivery of your goods, which are beyond our control.

Collection

Orders that have been fully paid in advance can be collected from our store after we have contacted you to inform you that your package is ready to collect.

When you come to collect you must produce identification and a copy of the invoice for the goods you are collecting. We cannot release the goods to 3rd parties.

We do NOT keep any goods on site and therefore it is not possible to collect any goods other than those ordered and packaged ready for collection.  See our FAQ for more details on our collection service.

Cancellation and Returns

The right to cancel under Regulation 13 of the Consumer Protection (Distance Selling) Regulations 2000 does not apply because the price of all goods that we sell is dependent upon fluctuations in the financial markets that are beyond our control.

In the event that you wish to cancel an order after it is placed, in consequence of a price fluctuation, the cancellation charge will be 2.5% of the total order value, plus any consequential loss owing to the fluctuation in the price of the metal.  This cancellation policy is applicable for in stock, pre-ordered and special order items.  Should you not be able to supply documents required to complete our compliance requirements which results in a cancellation of your order, the cancellation charges will apply.

You are entitled to return any product that you are dissatisfied with to us, however we will not be responsible for any postal charges. If we find that the goods you have returned are of satisfactory quality the return of the goods to yourself will be subject to a return postal charge.

Vaultor: The Ultimate Secure Storage Solution for Your Precious Metals

Vaultor by Atkinsons Bullion is a safe, convenient, and fully insured storage solution for your gold and silver. Your metals are securely held in fully allocated UK vaults, separate from other clients’ holdings, with Brink’s—an industry leader in high-value storage.

With Vaultor, you can:

  • Buy directly from Atkinsons and have your metals safely stored, providing a convenient alternative option to storing at home.
  • Track your holdings and view their real-time value 24/7 through your secure online account.
  • Easily sell from storage directly back to Atkinsons and secure a fixed price when you are ready.
  • Request withdrawal from storage with insured delivery to your pre-registered address.

How to Order to Storage

Look for the ‘V’ icon when browsing our gold and silver products on the website. At checkout, select the ‘Deliver to Storage’ option to have your metals securely stored with Vaultor.

Insured On-Demand Withdrawals

Simply contact us to request withdrawal from storage and your bullion will be securely dispatched with full tracking and insurance, ensuring a fast and reliable service from the vault to your door.

Storage fees are calculated daily and billed quarterly based on the total value of your holdings.

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