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Impressive 1804 BD-1 Eagle, MS61

1804 $10 Crosslet 4 MS61 PCGS. Breen-6847, Taraszka-31, BD-1, High R.4. The Guide Book shows that the early gold eagle series concluded in 1804, although the 1803 BD-6 eagles were actually the last coins minted before a long intermission until 1838. The recorded mintage in 1804 was just 3,757 coins, although the actual production of coins bearing the 1804 date was smaller. John Dannreuther suggests that the actual mintage of 1804-dated eagles may have been as low as 2,500 coins. Regardless, the date is a rarity in all grades, and the present Mint State piece is subject to extreme demand.
Both dies were actually first used in 1804, and the reverse die was then mated to a leftover 1803 obverse die to create the 1803 BD-6 eagles. About 100 1804 eagles survive today, along with about a dozen 1803 BD-6 coins. Those survival figures are consistent with a 3% survival rate for the last issues of the denomination.
In addition to die rust in the vicinity of ER of LIBERTY, the obverse has a die crack from the bottom of 18 to stars 1 to 5, and another from the lowest hair curl through the field below the bust to the drapery and the last three stars on the right. Another crack crosses through star 11 to Liberty's mouth. The last two obverse cracks are unmentioned in Dannreuther's reference. The reverse has several die cracks, but it is clearly an earlier state than for the 1803 BD-6 eagles.
This impressive Mint State piece has reflective fields with some minor weakness at Liberty's face and the opposing point on the reverse, the result of light adjustment marks. Other minor blemishes are mostly insignificant, save for a small scratch in the left obverse field that prevents a higher grade.(Registry values: P4) (NGC ID# BFYU, PCGS# 8566)

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Auction Dates
January, 2011
Internet/Mail/Phone Bidders: 6
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