1795 $5 Small Eagle MS62 PCGS. Breen-6412, B. 1-B, Miller-2, R.4. The obverse die has stars 11 and 12 overlapping, with sta...

Description

Mint State 1795 Small Eagle Half Eagle

1795 $5 Small Eagle MS62 PCGS. Breen-6412, B. 1-B, Miller-2, R.4. The obverse die has stars 11 and 12 overlapping, with star 11 joined to the upper right arm of the Y. This is diagnostic for the die, which was used with three different reverse dies. We believe that the Breen 1-B variety was the fourth variety produced out of a total of 12 die marriages of this issue.
Medium yellow color on the obverse with lighter yellow on the reverse. A thin scratch crosses Liberty's tresses up to star 10. The reverse has faint hairlines on reflective surfaces. Aside from these minor imperfections, the overall appearance and eye appeal of this example is excellent. Struck during the first year of production for the denomination, and among the earliest United States gold coins ever produced. Quite a number of Mint State examples of this die variety have appeared for sale at auction in recent years, with our estimate being about a dozen such survivors from this single die pair.
The design type with a Small Eagle reverse was produced from 1795 to 1798, with the rarity of each date increasing from one year to the next. 1795 is the most common date of the type and 1798 is the rarest. A certain conundrum exists with these coins. In 1795, 12 different die varieties were produced with a recorded mintage of 8,707 coins, while the very next year saw a single die variety with a mintage of 6,196 coins. This means that the average mintage per die variety in 1795 was about 700 coins and in 1796 was 6,196 coins. Or, perhaps many of the coins struck in 1796 were actually dated 1795. We subscribe to the latter theory, and suggest that the average mintage per variety for the two years was approximately 1,150 coins.(Registry values: P5)

Coin Index Numbers: (NGC ID# 25ND, PCGS# 8066, GSID# 8791)

Metal: 91.67% Gold, 8.33% Copper
Weight: 8.75 grams
AGW: 0.28oz
Mintage: 8,707

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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