1802/1 $5 Draped Bust Half Eagle NGC AU58

Introduction

The 1802/1 $5 Draped Bust Half Eagle is an early United States gold coin distinguished by its prominent overdate, with traces of the underlying 1 visible beneath the final digit 2. Struck at the Philadelphia Mint and designed by U.S. Mint Chief Engraver Robert Scot, the coin represents the formative years of federal gold coinage. This example is graded NGC AU58, placing it near the threshold of Mint State with only slight evidence of circulation.

History

Half Eagles were among the first gold denominations produced by the United States Mint, with $5 gold coinage beginning in 1795. By 1802, the Half Eagle had become an important component of early federal gold production. The Philadelphia Mint reported a total mintage of 53,176 Half Eagles for the year.

The 1802/1 is especially notable for its overdate. The obverse die was originally dated 1801 and later altered for use in 1802, leaving portions of the underlying numeral 1 visible beneath the 2. Multiple die varieties of the 1802/1 Half Eagle are known, making the issue an important area of study for specialists in early U.S. gold coinage.

Design

The obverse features a right-facing portrait of Liberty wearing a draped neckline, with her hair tied by a ribbon. LIBERTY appears above the portrait, thirteen stars surround the design, and the 1802/1 overdate appears below.

The reverse features a heraldic eagle with a shield on its breast and outstretched wings. The eagle holds arrows and an olive branch in its talons, with a ribbon bearing E PLURIBUS UNUM above. UNITED STATES OF AMERICA surrounds the design. As was customary for early U.S. Half Eagles, the coin does not display its $5 denomination.