1837 Classic Head Half Eagle. McCloskey-2. Large Date, Large 5. MS-62 (PCGS). CAC.

1837 Classic Head Half Eagle. McCloskey-2. Large Date, Large 5. MS-62 (PCGS). CAC.，This lovely 1837 half eagle offers strong technical quality and eye appeal, suggesting a Choice Mint State grade. The strike is sharp over most features, and both sides display a lovely blend of satiny mint luster and vivid golden yellow patina. The 1837 is the scarcest <em>date</em> among Philadelphia Mint half eagles of the Classic Head design type. The mintage for the series is 207,121 pieces, and Mint State survivors are elusive at all grade levels. This premium quality example will appeal to advanced type collectors and classic gold enthusiasts.<p>Designed by William Kneass, the Classic Head half eagle is one of the shortest series in U.S. coinage history. The type was produced only from 1834 through 1838, with mintages confined to the Philadelphia Mint in all years except for 1838 when small quantities were struck in Charlotte and Dahlonega. This is the first half eagle type produced after the Act of June 28, 1834, reduced the weight of this denomination from 8.75 grams to 8.36 grams. The same Act also reduced the gold content from 91.67% to 89.92%, although this was adjusted again in 1837 to 90% gold. These measures were intended to allow gold coins to circulate freely once again, as old tenor examples had seen widespread destruction through melting when rising gold prices resulted in their bullion value exceeding their face value. The United States Mint was actually one of the primary culprits in the destruction of old tenor gold coins; the bullion it obtained through this practice was used to strike a record 657,460 Classic Head half eagles in 1834, more than twice the previous record for the denomination achieved in 1820 (263,806 coins struck). By 1837 yearly mintages for this denomination had returned to more normal levels, explaining the scarcity of the final two Philadelphia Mint issues of this type compared to those struck from 1834 to 1836.<p>，From the A.J. Vanderbilt Collection. Earlier from our (Stacks) sale of the Rogers Collection, May 1976, lot 380. Lot tag included.，