The 1818 STATESOF $5 gold piece derives its name from the crowded placement of the words STATES OF at the top of the reverse. This was a forced error on the part of the die sinker when he started the word STATES too far to the right. This was not his only error -- he also started AMERICA too low and the 5D too far to the left. Nonetheless, the shifting of all these legends in a clock-wise direction still gives the reverse a balanced look.
There is only one STATESOF variety for 1818 and it is designated as BD-2 in the Bass-Dannreuther reference. BD-2 is listed as a Rarity 4, but it seems more common than that. The PCGS APR includes over 100 auction appearances for this variety. Though duplicate listings reduce that number, the APR includes very few citations before 1994, which would boost the number.
Over a dozen Mint State BD-2's are known, led by the remarkable PCGS MS66 formerly of the D. Brent Pogue Collection.