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Lot
1280

1795 $10 13 Leaves AU55 PCGS....

2009 August Los Angeles, CA US Coin Auction #1128

 
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Auction Ended On: Jul 31, 2009
Item Activity: 6 Internet/mail/phone bidders
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Location:

Hyatt Regency Century Plaza
2025 Avenue of the Stars
Los Angeles, CA 90067

Description:
Delightful 1795 BD-5 Eagle, AU55
1795 $10 13 Leaves AU55 PCGS. Breen-6830, Taraszka-5, BD-5, R.5. The obverse has 10 stars to the left and five to the right, the top left star distant from the cap. The reverse has all its leaves free of the U of UNITED, with 13 leaves in the palm branch, diagnostic for the variety. Five varieties of 1795 eagles are known, one extremely rare variety with just nine leaves in the palm branch, the other four with 13 leaves. BD-5 and BD-4 follow as the two rarest 13 leaves varieties.
The 1795 eagles were the second gold coins struck at the U.S. Mint after coinage of the half eagles. It was more than two years after the Mint struck their first coins that gold was finally minted. There were two principal reasons: a supply of gold for coinage was unavailable until July 1795, and more importantly, Henry Voigt and Albion Cox were unable to meet the Congressional bond requirement. The original Mint Act required that all personnel handling silver and gold must post a bond in the amount of $10,000 to ensure the safe and secure handling of the deposits. Neither Voigt or Cox were able to meet that requirement, which was eventually dropped to $5,000 for Voigt and $1,000 for Cox.
This delightful eagle is fully lustrous with rich green-gold surfaces, lustrous devices, and prooflike fields. A splash of coppery toning is present around many of the stars and letters, and faint adjustment marks are evident along the borders.(Registry values: P5) (NGC ID# 25ZT, PCGS# 8551)

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