1810 $5 Large Date, Large 5 MS 65+

  • $119,500.00


PCGS No: 8108
Type: Type 1, Capped Bust, Large Bust
Year: 1810-P
Denomination: $5
Category: Capped Bust $5 (1807-1834)
Grade: MS 65+
Certificate Number: 41809620

Description

A fresh iridescent miracle Gem! Turning back the clock to the time the newly formed United States was trying to be taken seriously on the world financial and economic markets. So in 1792, we started minting silver coins and in 1795, gold coins, as minting coins is the supreme act of sovereignty. So these early United States gold and silver coins are not only our most important coins, they were and are among the world’s most important coins. There are two factors that make early gold coins extremely rare, especially in Choice and Gem condition. First, the gold/silver ratio of our first coins was a little off, so there was a profit to be made by exporting and melting them. And that’s what was done. The ratio was corrected in 1834, but nonetheless, early gold coins continued to hit the melting pot as melted they were worth more than face value. The second factor is that there weren’t very many coin collectors in the U.S. at that time. The U.S. coin market had it’s beginnings in the late 1850’s, with the first collectors and auctions. In 1810, there weren’t really any collectors to save coins in pristine condition for the future. To say nothing of the fact that in 1810, five dollars was a really lot of money. All of that is why we call this a miracle coin. Somehow, it got saved in totally pristine condition. It’s an amazing Gem…one of the finest known for the date (and for the entire type for that matter). The surfaces are super clean and mark-free. The strike is very sharp and well-centered, especially considering that these coins were struck with hand powered presses. The luster is super fresh and iridescent, making for spectacular eye appeal. This is a rare coin icon…a “forever” coin. And it’s one of the finest early gold coins we have ever handled.


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