1834 $2.50 HM-2, Classic MS 65

  • $65,000.00


PCGS No: 764688
Year: 1834
Denomination: $2.50
Grade: MS 65
Certificate Number: 29970525

Description

An early gold prooflike miracle coin! An absolute monster Gem early gold coin. By 1834, the U.S. Mint’s gold to silver ratio of 15 to1 had caused a lot of earlier coins to be melted. In 1834, that ratio was changed to 16 to 1 and coins circulated more freely. But this was 1834, and the country was young. Most of the people were rural residents and $2.5 was a lot of money to set aside at the time. As for coin collectors, it is estimated that there were only 100 to 200 true coin collectors in the United States (mostly in Boston, Philadelphia and New York) at that time, and most of them were more interested in ancient Greek and Roman coins than what was at the time fairly new gold coins. Bottom line is that very few early gold coins were saved and fewer still survive today. These early gold coins are super important, and they are really rare, especially in Choice and Gem condition. This 1834 $2.5 is a spectacular Gem. And a huge condition rarity. In 36 years, PCGS has only graded four specimens Gem Uncirculated MS65. Do the math and that’s just one very nine years! And for grades above MS65, PCGS has graded two MS65+, one lone MS66, and one lone MS66+. This is a monster condition rarity, and one of the finest known. The surfaces are clean. The strike is out of this world…such sharp full detail of feathers and claws that it looks like a proof striking. The surfaces are a rather deeply mirrored semi-prooflike, which coupled with the monster strike, leads us to believe this must have been one of the very first impressions of the die. The “Classic Head” design $2.5 was only minted for six years. This is a spectacular early gold coin. It’s hard to put into words the majesty of this coin…one of the best early gold coins we’ve had in a long, long time