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Lot
3817

1796 $10 AU55 NGC....

2008 September Long Beach, CA US Coin Signature Auction #1116

 
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Auction Ended On: Sep 19, 2008
Item Activity: 6 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Lot Viewing:
Room 104A

Auction Room:
Room 103B

Description:
Remarkable 1796 Eagle, AU55
1796 $10 AU55 NGC. Breen-6832, Taraszka-6, BD-1, R.4. The only known die pair for coinage of 1796. Mint delivery records indicate that 2,795 eagles were coined in 1795, followed by 6,934 in 1796, but that fails to explain why 1795 had five different die marriages, compared to just one die marriage for 1796. The obvious and simple explanation is that some of the 1795 varieties were actually coined in 1796. The total of 9,729 coins delivered in the two years yields an average of 1,621 coins per die marriage.
We disagree with the mintages reported in the Guide Book and elsewhere for the Small Eagle tens. The Guide Book reports 5,583 eagles coined for 1795, 4,146 for 1796, and 3,615 for 1797, suggesting that those mintages are the actual total of coins bearing those dates. For those same dates, NGC and PCGS have combined to certify 370 dated 1795, 139 dated 1796, and 50 dated 1797. Based on a comparison of Mint delivery records and current population totals, we feel that the actual approximate mintages were: 8,875 coins dated 1795, struck from September 22, 1795 through June 21, 1796; 3,320 coins dated 1796, struck from December 22, 1796 until April 20, 1797; and 1,149 coins dated 1797, struck on May 2, 1797.
The 1796 eagles featured an unusual star layout, with eight stars to the left and eight to the right. In 1795, 15 stars were arranged 10 left and five right, in 1797 for the Small Eagle coins, the stars were arranged 12 left and four right, and in 1797 for the Heraldic Eagle coins, stars were arranged with 10 left and six right. All remaining eagles had 13 stars on the obverse.(Registry values: P6) (NGC ID# 25ZW, PCGS# 8554)

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