1818 $5 Capped Head STATESOF NGC MS64 CAC
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Introduction
The 1818 $5 Capped Head STATESOF graded NGC MS64 CAC is a high-grade example of the distinctive BD-2 die marriage. Named for the unusually tight spacing between STATES and OF on the reverse, this early U.S. gold Half Eagle is represented by a limited number of surviving examples. Its MS64 grade reflects a well-preserved Mint State coin, while CAC approval recognizes its quality and eye appeal within the assigned grade.
History
The Capped Head Half Eagle design was introduced in 1813 and represents an important period of early U.S. gold coinage. Struck at the Philadelphia Mint, these $5 gold pieces were produced in 91.7% gold and circulated during a period when gold coins played an important role in large commercial and financial transactions.
Three major die marriages are recognized for the 1818 Half Eagle. The BD-1 variety has normally spaced reverse lettering, BD-2 is the distinctive STATESOF variety, and BD-3 features the 5D/50 denomination variety. The STATESOF designation comes from the unusually close placement of STATES and OF on the reverse, causing the two words to visually run together.
A total of 48,588 Half Eagles were reported struck in 1818 across all varieties. The exact mintage of the BD-2 STATESOF variety is not known. Numismatic research estimates that approximately 100 to 125 examples survive across all grades, making it scarce despite being the most frequently encountered of the three 1818 die marriages.
Design
The obverse features a left-facing portrait of Liberty wearing a cap with a headband inscribed LIBERTY. Thirteen stars representing the original states surround the portrait, with the date 1818 positioned below.
The reverse depicts a heraldic eagle with a shield on its breast, holding arrows and an olive branch. A ribbon above bears the motto E PLURIBUS UNUM, while the denomination 5 D. appears below. On the BD-2 reverse, the words STATES and OF are positioned so closely that they appear as the single word STATESOF, creating the variety's defining characteristic.
| Year | 1818 |
|---|---|
| Metal | Gold |
| Grade | MS64 |
| Mint | Philadelphia |
| Weight | .2579 |
| Fineness | 0.9167 |
| Diameter | 25 mm |
A LITTLE STICKER MAKES A BIG DIFFERENCE.
Within each number of the coin grading scale is a small range of condition from low-end to high-end. Certified coins of the same grade can be of varying quality. Many of today’s collectors want coins that are solid or premium quality for their assigned grade. CAC holds coins to a higher standard so you can be confident in the value of yours. We verify previously graded coins … and award our sticker only to those coins that meet the standard for today’s selective buyer.
WHAT THE CAC STICKER MEANS:
- Verified. Your coin has been verified as meeting the standard for strict quality within its grade.
- Guaranteed. CAC stands behind our verification.
THE CAC STICKER IS BACKED BY EXPERIENCE.
CAC was founded by leading members of the numismatic community, including John Albanese, a respected authority on coin grading and the rare coin market.
