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Few gold coins circulated freely in the United States
during the earliest decades of the 19th century. During much of this time, the
bullion content of every U.S. gold coin exceeded its face value, if exchanged
for silver on the world market. This led to enormous melting losses.
Congress sought to eliminate the profit margin of the bullion speculators by
reducing the gold weight in U.S. coinage by about 6.3%. To reflect the new
standard, the Classic Head type was released in August 1834, produced in quarter
eagle ($2.50) and half eagle ($5) denominations.
With the incentive to export and melt removed, for the first time U.S. gold
became a sustainable force in everyday commerce. The Classic Head U.S. five
dollar gold coin was minted only from 1834-1838, but during this time, almost
the exact same number of half eagles were coined as the
Early
Half Eagles of 1795 to 1834.
Mint Engraver William Kneass depicted a somewhat masculine Liberty facing left.
Her thick, curly hair was kept under wraps by a LIBERTY headband. The reverse
was essentially a continuation of the John Reich eagle design from 1807.
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Classic Head
Half Eagle
Specifications |
Diameter: |
Weight: |
Minted: |
Composition: |
Designer |
Edge: |
22.50 mm |
8.36 g |
1834-1838 |
.8992
Au .1008 Cu |
William Kneass |
Reeded |
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Coin Photos courtesy of
Ira & Larry Goldberg Coins & Collectibles, Inc., Beverly Hills, CA. |
Kneass and his successor, Christian Gobrecht, continuously dabbled with the
design throughout the short run of the Classic Head type, creating at least a
dozen varieties to collect of gold half eagle coins.
The last of the Classic Head Half Eagles was released in 1838. The following
year, Gobrecht’s Coronet Head $5 gold coin took over and remained in production
until 1907. Because the Classic Head was nearly identical in diameter and weight
to its replacement, it saw heavy duty circulation for many years. Consequently,
relatively few mint state examples exist today.
Classic Head type production, though brief, played an important transitional
role in the evolution of United States coinage. The inability to retain gold
coinage in circulation was both a hindrance to economic activity at home and a
blow to national pride abroad. The issuance of the Classic Head type resolved
longstanding hard currency challenges while bringing the United States one step
closer its Old World competitors.
There are a few proof examples of the Classic Head Half Eagle, but they number
no more than 20 for the entire series and are worth a minimum of six figures
each. The key dates of the series are the 1834 Cross 4, the 1838-C, and the
1838-D. These coins are actively sought by earnest collectors and always have
been, as evidenced by their stellar price advancements over time. What’s nice
too, about the Classic Head key dates is that in lower grades, they’re still
quite affordable to semi-affluent numismatists. Thus, the key dates of the
series are:
It is smart idea to buy key date Classic Head Half Eagles that have been
certified by one of the four most reputable grading
service companies: PCGS, NGC, ICG, or ANACS. At the very least, make
sure
the seller is well spoken of in numismatic circles. Swindlers take
advantage of collector eagerness to own Charlotte and
Dahlonega gold coinage, and will seize the opportunity to sell overgraded or
fake material to inexperienced buyers.
The links below take you to eBay US coin auctions featuring key date
Classic Head Half Eagles.
The left hand side of each "Sales Box" depicts value trends over a very long
period of time for the indicated key date in F-12 condition. The
percent annual increase since 1950 is computed to facilitate comparisons. The
right side of the box is a link to eBay US coin auctions that is coded to
isolate the Classic Head key dates for sale right now. Keep in
mind that even on eBay, where many thousands of coins are for sale all the time, there is
good possibility the key date "For Sale" search will come up empty. The
dates below are rare, but not ultra rare, so if you keep checking back, you'll
eventually get a chance to own a Classic Head Half Eagle key. One other
thing: The coin pictured
for sale, if any, is not necessarily the same condition coin
as that represented in the value trend analysis on left hand side.
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1834 Cross 4
Classic Head HE
Condition: F-12
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1838-C
Classic Head HE
Condition: F-12
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Value Trends
1950: $30.00
1980: $200
1995: $600
2003: $850
2007: $1500
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Value Trends
1950: $17.50
1980: $500
1995: $950
2003: $1500
2007: $2500
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% Annual Increase
Since 1950 =
7.10%
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% Annual Increase
Since 1950 =
9.10%
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1838-D
Classic Head HE
Condition: F-12
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Value Trends
1950:
$17.50
1980: $500
1995: $900
2003: $1250
2007: $2000
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% Annual Increase
Since 1950 =
8.67%
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Half Cents
1793-1857 |
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Large Cents
1793-1857 |
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Flying Eagle Cents
1856-1858 |
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Indian Head Cents
1859-1909 |
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Lincoln Cents
1909-present |
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Two and Three
Cents 1851-1889 |
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Shield Nickels
1866-1883 |
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Liberty Nickels
1883-1913 |
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Buffalo Nickels
1913-1938 |
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Jefferson Nickels 1938-present |
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Early Half Dimes
1792-1837 |
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Seated Liberty Half Dimes 1837-1873 |
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Early Dimes
1796-1837 |
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Seated Liberty Dimes 1837-1891 |
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Barber Dimes
1892-1916 |
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Mercury Dimes
1916-1945 |
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Roosevelt Dimes 1946-present |
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Twenty Cents
1875-1878 |
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Early Quarters
1796-1838 |
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Seated Liberty Quarters 1838-1891 |
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Barber Quarters
1892-1916 |
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Standing Liberty
Quarters 1916-1930 |
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Washington
Quarters 1932-present |
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Early Half Dollars
1794-1839 |
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Seated Liberty
Half Dollars 1839-1891 |
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Barber Half
Dollars 1892-1915 |
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Walking Liberty
Half Dollars 1916-1947 |
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Franklin Half
Dollars 1948-1963 |
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Kennedy Half Dollars 1964-Present |
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Early Dollars
1794-1804 |
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Gobrecht Dollars 1836-1839 |
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Seated Liberty Dollars 1840-1873 |
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Trade Dollars
1873-1885 |
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Morgan Dollars
1878-1921 |
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Peace Dollars
1921-1935 |
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Eisenhower Dollars
1971-1978 |
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Anthony Dollars
1979-1981,1999 |
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Sacagawea Dollars
2000-present |
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Presidential Dollars
2007-present |
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Gold Dollars
1849-1889 |
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Early Quarter Eagles 1796-1834 |
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Classic Head Quarter Eagles 1834-1839 |
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Coronet Quarter
Eagles 1840-1907 |
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Indian Head
Quarter Eagles 1908-1929 |
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Three Dollar Gold
1854-1889 |
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Early Half Eagles
1795-1834 |
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Classic Head Half Eagles 1834-1838 |
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Coronet Half
Eagles 1839-1908 |
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Indian Head Half
Eagles 1908-1929 |
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Early Eagles
1795-1804 |
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Coronet Eagles
1838-1907 |
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Indian Head Eagles
1907-1933 |
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Coronet Double
Eagles 1849-1907 |
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St-Gaudens Double
Eagles 1907-1933 |
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In 1836, nearly 190 Texans fought the Mexican Army
from inside an old mission chapel in San Antonio called the Alamo. The
Texans were fighting for independence from Mexico. Colonel James Bowie and
Colonel William B. Travis commanded the Alamo garrison, including famed
backwoodsman Davy Crockett. The Mexicans, led by General Antonio López
de Santa Anna was determined to capture the Alamo. On March 6,
1836, the Mexicans launched their final assault, ending the 13-day standoff.
An estimated 1500 Mexican soldiers died in the seige. There were no Texan
survivors, though a small number of non-combatants were spared. On
April 21, 1836, Sam Houston, commander of the Texas Army, led a surprise
attack on Santa Anna's men. Shouting, "Remember the Alamo!" the Texans won
the battle at San Jacinto in 18 minutes and secured Texas independence from
Mexico.
Image courtesy of
Library of Congress. |
