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Condition Census 1818 Half Eagle NGC MS64
BD-3, 5D over 50, R.5. Of the three die marriages used to strike 1818 half eagles, BD-3 is the rarest. The circumstances leading to this peculiar error are unknown, although most early gold researchers concur that the die sinker simply used a “0” punch instead the requisite “D” punch. The Bass-Dannreuther reference on early U.S. gold (2006) estimates that between 35 and 45 examples of BD-3 exist in all conditions, including impaired pieces that will never reside in a problem-free PCGS or NGC holder.
 As a variety, the 1818 5D/50 five dollar is scarce. However, the current coin is undeniably rare due to its condition relative to all known survivors. NGC has certified only one example—the specimen offered here—at the MS64 level, while PCGS documents no coins at the near-Gem grade, with two finer coins. As such, this piece is clearly in the upper echelon of the Condition Census for the variety.
Even as a type coin, this coin is still quite scarce in MS64 or better condition. For all years and varieties struck between 1807 and 1834, only 258 coins are documented in the NGC Census Report at the MS64 level, and this number is clearly artificially high due to multiple resubmission of the same coin.
Beyond the technical grade, the current offering is esthetically pleasing in every regard. Deep, rich red-gold coloration is accentuated by stunning, uninterrupted luster across all surfaces. This museum quality piece has claims to a higher grade, and is worthy for inclusion in the finest of cabinets. Trends places a value of $75,000 for this issue, while the PCGS Price Guide indicates a price of $100,000. Due to trading infrequency, this variety is not priced above MS63 in the 2011 Guide Book of United States Coins.
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History
