1820 $5 Capped Head Square Base 2 PCGS MS64 CAC

Introduction

The 1820 $5 Capped Head Square Base 2 Half Eagle graded PCGS MS64 CAC is a high-grade example of scarce early United States gold coinage. Distinguished by the square-based numeral 2 in the date and the Large Letters reverse, this variety was struck at the Philadelphia Mint in .9167 fine gold. Its PCGS MS64 grade recognizes a well-preserved Mint State coin, while CAC approval recognizes its quality and eye appeal within the assigned grade.

History

The $5 Half Eagle was one of the original gold denominations authorized by the Coinage Act of 1792 and played an important role in early federal gold coinage. By 1820, the denomination featured the Capped Head design, part of a series of early Half Eagles that are considerably scarcer today than their original production figures might suggest.

The Philadelphia Mint reported production of 263,806 Half Eagles in 1820 across several major varieties. Coins from the year can be distinguished by the shape of the numeral 2 in the date and differences in the lettering on the reverse. This example belongs to the Square Base 2 variety, which is paired with a Large Letters reverse. Large numbers of early U.S. gold coins were later melted, contributing to the limited number of surviving Capped Head Half Eagles today.

Design

The obverse features a left-facing portrait of Liberty wearing a cap secured by a band inscribed with LIBERTY. Thirteen stars surround the portrait, while the date 1820 appears below. The distinctive square base of the numeral 2 identifies this major variety.

The reverse features a heraldic eagle with a shield across its breast, holding an olive branch and arrows in its talons. A scroll above the eagle bears the motto E PLURIBUS UNUM, while UNITED STATES OF AMERICA surrounds the design and 5 D. identifies the denomination below. The Square Base 2 variety is paired with the Large Letters reverse.