1795 $10 13 Leaves MS64 NGC. Ex: Freedom Collection. Breen 1-A, Breen-6830, Taraszka-1, Bass-3169, BD-1, High R.3. The ten ...
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Minimum Next BidBid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.
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It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
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Consignor Has Not Yet Submitted a Reserve:
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This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
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Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
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Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
A similar problem exists for both the half eagles and the eagles. For both denominations there were multiple varieties dated 1795 and only a single variety dated 1796, despite mintages that suggest this is illogical. During the course of 1795, just 2,795 eagles were minted from September 22 through November 27. In 1796, the Mint produced 6,934 eagles from January 9 through December 22. If we take these annual production totals at face value, an average of 560 coins per die marriage were struck in 1795 while a single die marriage produced all 6,934 coins in 1796. Clearly there is something wrong, unless many of the coins produced in 1796 were from dies dated 1795, and we can be certain that this was the case. According to the Guide Book, the 1795 mintage totaled 5,583 coins and the 1796 mintage totaled 4,146 coins, but even these figures are suspect, suggesting a survival rate of 10% for 1795 eagles and only 4% for 1796 eagles. This discussion illustrates the challenge that numismatists have today when attempting to reconstruct the events of the earliest years at the Philadelphia Mint. There were no records of mintages for individual die varieties, and any attempt to make such estimates today is plagued with problems.
In his new reference, Early U.S. Gold Coin Varieties, Dannreuther provides estimated mintages for every variety, as well as estimates of the number of survivors for each variety. The only thing we know for sure is the number of die marriages known from 1795 through 1804 (32) and the total mintage for that period (132,714 coins including 122 pieces reserved for assay). By using the midpoint of Dannreuther's survival estimates, we can also establish an approximate survival rate for the series of 2.5%. Is this enough information to establish original "mintage figures" for each variety or even for each coinage date? This cataloger has spent considerable effort over several years attempting to correlate mintage figures with individual varieties, and now feels that it is not possible. There are at least two variables that cannot accurately be determined. First, the exact emission sequence needs to be determined (including both die marriages and remarriages). In a series like the early eagles, the emission sequence alone is enough to give a numismatist nightmares. Once the emission order is known, an accurate estimate of the survivors must be established for each variety and remarriage, and this is nearly an impossibility. Finally, differing survival rates from one coinage date to the next must be pinpointed, a seemingly impossible task.
The 1795 BD-1 is considered the first variety coined for the year, therefore it is the first eagle minted by the United States! There are more of these surviving today than all other 1795 varieties combined, and it is actually one of the five most common die varieties of the entire series from 1795 to 1804, a fact that would probably surprise most collectors. Quite a few examples survive in Mint State grades, giving collectors a reasonable chance of obtaining a high-quality example of the Small Eagle reverse design. Many of the Mint State pieces have prooflike fields, much like this coin does. Although the fields are not deeply mirrored, they are clearly reflective. The surfaces are exceptional and almost totally mark-free with only a few scattered abrasions. Faint adjustment marks are evident at the center of the obverse, and also on some of the obverse dentils. All of the design elements on both sides are sharply struck, suggesting to some the possibility that this may have been some type of presentation piece. This example is a relatively early die state of the variety, with faint obverse die cracks but no evidence of any reverse cracks. Despite the existence of several Mint State pieces, this example is one of the best we have handled. In fact, in our previous sales we have only handled two 1795 eagles in grades better than MS61! Census: 4 in 64, 4 finer (1/07).(Registry values: P5) (NGC ID# 25ZT, PCGS# 8551)
Service and Handling Description: Coins & Currency (view shipping information)