1797 $5 Small Eagle, 16 Stars, BD-3, R.6, AU53 PCGS Secure. CAC....

Description

1797 Small Eagle Five Dollar, BD-3, AU53
16 Stars Obverse Guide Book Variety
Unmistakably Original
Only 20 to 25 Survivors

1797 $5 Small Eagle, 16 Stars, BD-3, R.6, AU53 PCGS Secure. CAC. Bass-Dannreuther Die State a/c. The obverse is void of clashing, lapping, or cracking, while the reverse features two prominent die cracks from the edge through the leaves to the left leg, and another from A3 to the tailfeathers. They join together over the leg, signaling the beginning of the breakage of the die. Four 1797 Small Eagle varieties are known. BD-1 and BD-2 feature a 15 Stars obverse, while BD-3 and BD-4 have 16 obverse stars, reflecting the admission of Tennessee into the Union on June 1, 1796. The latter die pairs are distinguished by the wreath berries. BD-3 shows both berries outside the wreath. BD-4 is unique, with the right berry inside. This variant is the most available of the four, but that is not to say it is common. John Dannreuther suggests merely 20 to 25 representatives survive from an estimated mintage of 1,000 to 1,500 coins.

As previously mentioned, all 1797 16 Stars half eagles are rare. The few survivors are generally found in XF to AU condition. The PCGS Population Report shows four submissions in AU53, two in AU55, three in AU58, and the finest known example in MS61. It should also be noted that no example with CAC endorsement has ever been made available publicly. Several high-grade examples have appeared at auction in since 2015. Most recently, we had the pleasure of offering the Hutchinson Collection coin in AU58+ as part our January 2017 FUN Signature sale (lot 5842). That coin brought $305,500, second only to the MS61 coin that realized $411,250 in Stack's Bowers' 2013 ANA sale.

The eye appeal of this spectacular AU53 Small Eagle five would be exceedingly difficult to improve upon, if not impossible. The surfaces are unmistakably original. Reddish-gold and olive tones color the recesses, yielding to lighter orange-gold shadings over the exposed regions. A touch of blending on the highest points of the stars, cheek, cap, and eagle's breast define the grade. Otherwise, the impression is boldly rendered. Small marks in the fields are largely inconsequential. The only one that might aid in future identification is adjacent to Liberty's chin. Well-centered with crisp dentilation. This lot is sure to pique the interest of advanced specialists. We encourage all parties to bid accordingly. Population: 4 in 53, 5 finer. CAC: 1 in 53, 1 finer (2/17).

Coin Index Numbers: (NGC ID# BFWY, Variety PCGS# 519865, Base PCGS# 8068, Greysheet# 198176)

Weight: 8.75 grams

Metal: 91.67% Gold, 8.33% Copper

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.

View Certification Details from PCGS