1797 $10 Small Eagle, BD-1, R.5, AU53 NGC....

Description

1797 Capped Bust Right Eagle, AU53
Small Eagle Reverse
Very Scarce BD-1 Variety

1797 $10 Small Eagle, BD-1, R.5, AU53 NGC. The Small Eagle reverse was retired in 1797, in favor of the Heraldic Eagle motif. Examples of both types were struck during the year, with one variety representing the old Small Eagle type, and three varieties of the Heraldic eagle design. The present coin is easily identified as the BD-1 die marriage, the lone variety with the Small Eagle reverse. The reported mintage for the Small Eagle type was 3,615 pieces, but die evidence indicates some of these coins may have been dated 1796. John Dannreuther estimates the original mintage may have been as low as 1,250 pieces, with 55-65 examples surviving today.

The obverse die features 16 stars, in a 12x4 pattern, the only eagle to exhibit this lopsided arrangement. The number of stars was reduced to 13 in 1798, when the impracticality of adding an additional star to the design for every new state in the Union was realized. The unique die characteristics were recognized at an early date, and the important variety was distinguished in auction catalogs at least as early as the Randall Collection (W.E. Woodward, 6/1885), lot 848:

"1797 No. 3 ; 4 stars facing, 12 back of the head, one under the bust, touches date; rev., small eagle, with olive wreath, excessively rare."

The cataloger also described examples of the other three varieties of 1797 eagles in neighboring lots, an impressive feat of die study at the time.

The present coin is a lightly circulated specimen, with sharp details in most areas, and a touch of softness on the eagle's breast. The lustrous surfaces display an attractive greenish-gold color. This coin is an example of Bass-Dannreuther Die State b, with the characteristic crack from the edge, past star 16, to Liberty's throat. Census: 5 in 53, 18 finer (1/18).
Ex: FUN Signature (Heritage, 1/2011), lot 5174.
From The Admiral Collection.

Coin Index Numbers: (Variety PCGS# 45716, Base PCGS# 8555)

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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