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Lot
7588

1795 $10 13 Leaves AU58 PCGS. Breen-6830, Taraszka-1, BD-1, High R.3....

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

 
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Auction Ended On: Aug 12, 2011
Item Activity: 8 Internet/mail/phone bidders
1,067 page views
Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:

1795 Capped Bust Right Eagle, AU58
First Date of Denomination
13 Leaves, BD-1 Variety
1795 $10 13 Leaves AU58 PCGS. Breen-6830, Taraszka-1, BD-1, High R.3. Ten dollar gold coins were minted for the first time in 1795, with a reported mintage of 5,583 pieces. There are five known varieties for the date, four with 13 leaves on the palm branch and a rare variety with nine leaves. The present coin represents the more available BD-1 variety, with the 5 in the date positioned overlapping the bust, star 11 near Y in LIBERTY, and a leaf nearly touching U in UNITED. John Dannreuther estimates the BD-1 variety accounted for approximately 2,795-5,583 pieces of the reported mintage. Some 1795 dated coins from the other varieties may have been struck in 1796. The BD-1 has an estimated surviving population of 225-325 examples in all grades.
The early eagles are the only high denomination gold coins that have been popular with collectors since the early days of the hobby. Numismatists began to study the varieties of this series at an early date. In the Randall Collection (W. Elliot Woodward, 7/1885), the cataloger listed four different varieties of 1795 half eagles including the coin in lot 842 that sounds like an example of the BD-1. The lot description reads, "1795 No. 2; small eagle reverse, in the olive branch the turned up leaf touches the U; very fine indeed, almost proof surface, rare." Notice the cataloger mistook the palm frond for an olive branch. More recent auction offerings include the PCGS graded AU58 coin in lot 1321 of the Pre-Long Beach Auction (Ira and Larry Goldberg, 5/2009), which realized $87,400.
The present coin is an attractive near-Mint specimen, with just a touch of wear on the well-detailed devices. The surfaces are a pleasing light greenish-gold color, with only minor abrasions picked up over the last 215 years. Strong satiny mint luster is present on both sides and the surfaces show small patches of prooflike reflectivity in sheltered areas. Population: 25 in 58, 42 finer (6/11).(Registry values: P5) (NGC ID# 25ZT, PCGS# 8551)

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