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Lot
3974

1800 $10 MS60 NGC. BD-1, High R.3....

2013 February 7 -8 & 10 US Coin Signature Auction - Long Beach #1182

 
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Auction Ended On: Feb 7, 2013
Item Activity: 10 Internet/mail/phone bidders
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Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:

Mint State 1800 Capped Bust Right Eagle
BD-1, Only Dies for the Date
Rarely Seen Finer
1800 $10 MS60 NGC. BD-1, High R.3. Bass-Dannreuther Die State c/e. The reported mintage of Capped Bust Right eagles in 1800 was a meager 5,999 pieces, and there is a single die variety known for the date. However, this issue is somewhat more available today than the small mintage figure would suggest, with a surviving population of 200-300 examples in all grades. The reverse die was used in 1799 to strike the BD-10 variety of that year, then employed to strike the early die states of the 1800 issue, then used to produce the scarce BD-1 variety of 1801, and finally remarried with this obverse die to strike more 1800-dated eagles. The late die state of this coin indicates it was struck after the 1801 BD-1 eagles, and the coins from the later 1800-dated emission were probably included in the mintage totals for 1801.

The 1800 eagle was always a popular date with collectors, possibly because of its low mintage figure and its turn-of-the-century date. Examples appeared at auction in sales of the 1860s, including the coin offered in lot 1620 of the Fifth Semi-Annual Sale (W. Elliot Woodward, 10/1864):

"1800 Nearly as fine as the last; fine impression and beautiful surface; very scarce."


The lot, which sounds like a coin very similar to the present specimen, realized $23 to J.O. Emery, a good price at the time. Examples appear several times per year in the modern era, bringing higher and higher prices. The record price realized for an 1800 eagle belongs to the magnificent MS65 NGC coin in lot 3250 of the FUN Signature (Heritage, 1/2008), which brought $310,500.

This coin displays sharply detailed design elements and retains much of its original mint luster. The pleasing greenish-gold surfaces show a scattering of minor contact marks on both sides, explaining the grade. An interesting network of die breaks is evident through the branch, tailfeathers, and arrow shafts, and another crack travels through UNI, Identifying the late die state. Eye appeal is outstanding for an early eagle. Census: 5 in 60, 42 finer (1/13).
(Registry values: P2) (NGC ID# 2626, PCGS# 8563)

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