1807 $5 Bust Left MS 64

  • $45,000.00


PCGS No: 8101
Type: Type 1, Capped Bust, Large Bust
Year: 1807-P
Denomination: $5
Category: Capped Bust $5 (1807-1834)
Grade: MS 64
Certificate Number: 37111514

Description

Fresh original Choice Uncirculated!!!! In the early days of our country, the gold and silver coinage was our statement to the world that the new United States was open and ready to do business. The big issue internationally was the gold to silver ratio. Unfortunately, we didn’t get it exactly right so most of our gold coins were exported and melted….and to remedy the situation the Mint slightly lowered the gold content of our coins in 1838. This just increased the export and melting of earlier years. So today, All of the 1795 to 1837 gold coins are rare in all grades, and ultra rare in Choice and Gem condition. Also, because of the high face value at the time, most people couldn’t afford to save gold coins ($5 was a ton of money at the time when the average daily wage was 44 cents!). The 1807 was the first year for the new type design, and for the entire 807 to 1829 type, in 38 years, PCGS has graded a total of 1997 coins (only 53 coins per year…pretty rare!. Of those, just 168 have been graded MS64…just 4.4 coins per year and just one MS64 in every twelve coins graded) So we’re talking major rarity. For both the coin and the condition. This is an amazing Choice Uncirculated specimen. The surfaces are exceptionally clean The strike is bold and perfectly centered. This is very unusual for these early issues as the method of manufacture was so primitive