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Lot
4854

1795 $5 Small Eagle MS62 NGC. CAC. Breen-6415, BD-7, R.7....

2011 October 13-16 US Coins Signature Auction- Pittsburgh #1160

 
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Auction Ended On: Oct 14, 2011
Item Activity: 9 Internet/mail/phone bidders
1,194 page views
Location: David L. Lawrence Convention Center
1000 Ft. Duquesne Blvd.
Pittsburgh, PA 15222

Description:
1795 BD-7 Small Eagle Five, MS62
Finest of the Few Known
1795 $5 Small Eagle MS62 NGC. CAC. Breen-6415, BD-7, R.7. Bass Dannreuther Die State a/a, with no die cracks, clash marks, or lapping. The left upright of the 5 is widely repunched on this obverse die. The obverse die was only used for this single 1795 Small Eagle variety, but it was also used for the 1795 BD-14 Heraldic Eagle five, where that die broke apart. The reverse die was also used for 1795 BD-9, where it develops a delicate die crack. Both dies could have been used more extensively. The combined obverse population for BD-7 and BD-14 is no more than 30 pieces, and for the two reverse varieties, no more than 60 pieces, according to John Dannreuther's estimates.
Dannreuther estimates that only eight to 12 examples are known of 1795 BD-7, including only one example in the Harry W. Bass, Jr., Collection. He writes: "It is one of the rarest of the 12 varieties of 1795 and it is seldom seen on the bourse floor or in auction."
Our opinion is that the Dannreuther estimate is too high, and only six to eight examples are likely known today. A review of several hundred auction catalogs over two decades has turned up just one XF and three AU coins, along with the present MS62 that appears to be a new specimen.
Both sides have brilliant yellow luster with minor grade-consistent surface marks and excellent details. The fields are mildly reflective. The reverse has faint central adjustment marks that cause design weakness at the centers on both sides. Census: 21 in 62, 16 finer (9/11), for all 1795 Small Eagle varieties.(Registry values: P5) (NGC ID# 25ND, PCGS# 8066)

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