The 1822 Half Eagle is one of the most coveted coins in American numismatics. This coin, part of the early U.S. Mint’s efforts, carries immense historical value and is prized for its rarity, with only three known examples in existence. Its story represents the rich heritage of U.S. coinage, making it a centerpiece for collectors and historians alike.
What is the 1822 Capped Bust Gold $5 Half Eagle?
The 1822 Capped Bust Gold $5 Half Eagle is a gold coin that was minted in the United States during the early 19th century. The “Half Eagle” denomination refers to its value of five dollars, a significant amount at the time.
- Designer: John Reich
- Metal Composition: 91.67% gold, 8.33% copper
- Weight: 8.75 grams
- Diameter: 25 mm
This coin belongs to the Capped Bust series, recognized for its elegant design and intricate details.
Rarity of the 1822 Half Eagle
The 1822 Capped Bust Half Eagle is exceptionally rare, with only three confirmed specimens. Out of these:
- One coin is housed at the Smithsonian Institution as part of its National Numismatic Collection.
- Another is privately owned by a collector.
- The third example was sold at an auction in March 2021 for $8.4 million.
This coin’s rarity stems from its limited mintage and the melting of gold coins during economic challenges in the 19th century.
The Design of the 1822 Half Eagle
The 1822 Capped Bust Gold $5 Half Eagle features a design that reflects early American artistry.
Obverse Design
- A bust of Lady Liberty wearing a cap inscribed with the word “LIBERTY.”
- 13 stars surround the bust, representing the original colonies.
- The year “1822” is engraved at the bottom.
Reverse Design
- An eagle with a shield on its chest, holding arrows and an olive branch, symbolizing strength and peace.
- The inscription “UNITED STATES OF AMERICA” encircles the eagle.
- The denomination “5D” appears below.
Historical Context
The 1822 Half Eagle was minted during a period of significant growth and development in the United States. The coin’s production reflects the country’s early attempts at creating a standardized monetary system.
Gold coins like the Half Eagle were often melted down for their intrinsic value, leading to their scarcity today. This melting process and the high value of gold coins in circulation contributed to the rarity of surviving examples.
Significance for Collectors
Owning an 1822 Capped Bust Gold $5 Half Eagle is considered the ultimate achievement for numismatists. Its value lies not just in its rarity but also in its historical importance. This coin is a symbol of the U.S. Mint’s early years and its efforts to produce high-quality coinage.
Auction Records and Value
The 1822 Half Eagle has achieved legendary status in the numismatic world due to its rarity and auction performance.
Year of Auction | Auction House | Price Realized | Notable Buyer/Collection |
---|---|---|---|
1982 | Stack’s Bowers | $687,500 | Smithsonian Institution |
2021 | Stack’s Bowers | $8.4 million | Private Collector |
These records highlight the enduring appeal of this coin among elite collectors.
Why Is the 1822 Half Eagle So Rare?
- Low Mintage: Only a limited number were minted in 1822.
- Melting of Gold Coins: Many gold coins were melted for their bullion value.
- Lack of Circulation: Few coins were used in day-to-day transactions, as $5 was a large sum in the 1820s.
Conclusion
The 1822 Capped Bust Gold $5 Half Eagle stands as a testament to the artistry and history of U.S. coinage. With only three known examples, it is not just a coin but a treasure that connects collectors to America’s rich past. Its rarity and auction prices make it a true gem in the numismatic world, ensuring its legendary status for generations to come.
People First India
FAQs
1. Why is the 1822 Half Eagle so valuable?
The coin is incredibly rare, with only three known examples, and its historical significance adds to its value.
2. What is the most recent auction price for this coin?
The last known auction in 2021 saw the coin sell for $8.4 million.
3. Can the 1822 Half Eagle be found in circulation today?
No, the coin is considered a rare collectible and is not in circulation.
4. What is the metal composition of the coin?
The coin is made of 91.67% gold and 8.33% copper.
5. Where can I see an 1822 Half Eagle?
One example is on display at the Smithsonian Institution in Washington, D.C.