1823 Capped Bust $5 Gold Half Eagle
NGC MS65The mintage for the 1823 Half Eagle is only 14,485 coins. Despite the low mintage it is one of the more available dates of half eagles from the 1820s. However, it is not common by any means. Combined population from both PCGS and NGC is 61 certified specimens with an average grade of AU58. The population is most likely overstated as there are sure to be many resubmissions of the same coins. The finest known grade is MS65, 1 by PCGS and 2 by NGC. The author believes the the lone PCGS example to be the NGC coin to sell at auction in January 2011 for $299,000. The coin was sold in an NGC holder and shortly after the sale the PCGS MS65 specimen hit the population report.
With only one MS65 example to sell at public sale since 1990 it is very difficult for price guides to accurately report values. The PCGS price guide has not changed since the 2011 auction result and remains at $300,000. However, the NGC price guide records it currently at $440,000. Furthermore, using the NGC price guide we can see they made an increase due to a reported private treaty transaction in August 2014 when the price jumped from $275,000 to $375,000. It increased again in March 2015 from $375,000 to $400,000 and today is at $440,000. These price changes show more thorough research by NGC staff as opposed to PCGS which has seen no change since the auction of 2011.
The offering price of the current specimen at $300,000 appears to be an excellent value and in line with market trends.
Coin ID 252691