1795 $10 13 Leaves, BD-5, R.5, AU58 PCGS....

Description

1795 Ten Dollar, AU58
Superb Small Eagle, BD-5

1795 $10 13 Leaves, BD-5, R.5, AU58 PCGS. Ex: The Peh Family Collection. Bass-Dannreuther Die State e/c. Both the obverse and reverse working dies were on their final usage in BD-5, and on this specimen in the latest die state. As Harry Bass described in his notebook "further lapped, exterior points of stars 1, 2, 9, 10, 11, 12, 15 now noticeably shortened." On the reverse, the diagnostic die lump left of A(MERICA) has deteriorated further on the die and appears slightly larger. The BD-5 obverse die attribution identifiers are star 10 being away from cap, and star 11 away from Y.

The first gold coinage was struck at United States Mint in 1795, beginning with half eagles on July 31, and for eagles on September 22 with a delivery of 1,097 ten dollar coins. Thomas Jefferson initially proposed a ten dollar coin in his 1784 Notes on the Establishment of a Money Unit, and of a Coinage for the United States, stating "A golden piece, equal in value to ten dollars." After the Mint establishment in 1792, gold coinage was delayed until 1795 in part by a high bond requirement mandated in the Coinage Act of 1792 "in the sum of ten thousand dollars."

Chief Engraver Robert Scot designed and engraved the initial gold coinage. Scot introduced the drapery on United States Mint coins in 1795 on the five and ten dollar designs, prior to the Draped Bust silver dollar issue. Scot had long experience in the engraving of draperies, and in 1792 engraved as an instructional guide a number of drapery designs on Classical figures in Thomas Dobson's Encyclopedia. The 1795 gold ten dollar featured an elegant drapery with a conical shaped cap, the subject of much conjecture. Perhaps Mint Director James Ross Snowden in 1860 stated it best, "A female bust, emblematic of Liberty, facing to the right, wearing a liberty-cap, with the hair flowing loosely about it" and for the reverse "An eagle, with expanded wings, holding a laurel crown in its beak, and grasping a palm branch with both talons."

This is a very attractive early eagle with green-gold patina over nicely preserved surfaces, with only the lightest wear on high points, and just small unobtrusive circulation marks. Satiny luster and slightly reflective fields, with some very light adjustment marks at the obverse edge and portrait center. The eye appeal is outstanding, and a solid strike gives excellent definition of the iconic Draped Bust Small Eagle design, making this a wonderful coin for an advanced early gold collection.
Ex: Long Beach Signature (Heritage, 9/2006), lot 3726.
From The Peh Family Collection.

Coin Index Numbers: (Variety PCGS# 45713, Base PCGS# 8551, Greysheet# 198070)

Weight: 17.50 grams

Metal: 91.67% Gold, 8.33% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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