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Lot
6307

1795 $10 13 Leaves AU55 NGC. B. 1-A, Taraszka-1, R.3....

2004 June Long Beach Signature Sale #349

 
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Auction Ended On: Jun 3, 2004
Item Activity: 6 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Important 1795 Eagle, Choice AU55 NGC
1795 $10 13 Leaves AU55 NGC. B. 1-A, Taraszka-1, R.3.Despite its status as the nation's gold monetary unit, the Eagle enjoyed less popularity within financial circles than the smaller Half Eagle. As the Five Dollar coin had a similar value to foreign gold coins of the period, the Philadelphia mint concentrated its earliest gold coinage efforts on that denomination. When the government finally initiated Eagle production on September 22, 1795, only 5,583 1795-dated pieces were produced between that date and March 30, 1796. In stark contrast, the Mint's initial production of 8,707 Half Eagles was achieved in a much shorter time frame between July 31 and September 16, 1795. Regardless of its limited appeal to banks and merchants, the size of the eagle made it an impressive coin. As a result, curious American citizens saved many examples as first-year souvenirs, but numismatic scholars stress that fewer than 3% of the original mintage survives today in all levels of preservation.
An attractive example of our nation's first Eagle, with only a trace of wear on the highest points and in the fields. The surfaces display a few scattered abrasions, and the bright yellow-gold color does not inhibit the traces of original luster. For pedigree purposes, a thin curving scratch is seen from star 7 down to Liberty's throat. (#8551) (NGC ID# 25ZT, PCGS# 8551)

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