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1795 $10 13 Leaves AU53 NGC. Breen-6830, Taraszka-1, BD-1, High R.3....

2011 October 13-16 US Coins Signature Auction- Pittsburgh #1160

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Auction Ended On: Oct 14, 2011
Item Activity: 8 Internet/mail/phone bidders
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Location: David L. Lawrence Convention Center
1000 Ft. Duquesne Blvd.
Pittsburgh, PA 15222

1795 Capped Bust Right Eagle, AU53
First Date of Denomination
Popular BD-1 Variety
1795 $10 13 Leaves AU53 NGC. Breen-6830, Taraszka-1, BD-1, High R.3. As all first-year type collectors know, ten dollar gold pieces were produced for the first time in 1795, using the Capped Bust Right obverse and the Small Eagle reverse designs. The reported mintage was only 5,583 pieces, although some 1795-dated coins may have been produced in 1796, with five die varieties known for the date. Four of the varieties feature a palm branch on the reverse with 13 leaves, while the rare fifth variety exhibits a branch with only nine leaves. The present coin represents the BD-1 variety, with 13 leaves on the palm frond, one nearly touching U in UNITED, and star 11 very close to Y in LIBERTY. The BD-1 variety is the one most often seen, and probably accounted for most of the original mintage. The surviving population of BD-1 is estimated at 225-325 examples in all grades.
The 1795 eagle has always been a popular issue with collectors, and die varieties were studied at a relatively early date. In the Randall Collection (W. Elliot Woodward, 7/1885), the cataloger listed four different varieties of 1795 eagles including the coin in lot 842 that sounds like an example of the BD-1. The cataloger notes, "1795 No. 2; small eagle reverse, in the olive branch the turned up leaf touches the U; very fine indeed, almost proof surface, rare." Although this description is accurate in most details, the cataloger did mistake the palm frond for the more commonly used olive branch. Recent auction appearances include the AU53 PCGS example that realized $115,000 in lot 5538 of the Denver Signature and Platinum Night Auction (Heritage, 8/2006).
The present coin is a lightly circulated example with a few traces of rub on the high points of the design. The surfaces retain much original mint luster with pleasing greenish-gold color and no adjustment marks or serious abrasions. We expect intense competition from series specialists and early type collectors when this lot is called.
From The Christmas Lake Collection.(Registry values: P5) (NGC ID# 25ZT, PCGS# 8551)

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