1797 $10 Large Eagle, BD-4, High R.4, MS61 NGC....

Description

1797 Capped Bust Right Eagle, MS61
Large Eagle Reverse, BD-4
Elusive Issue in High Grade

1797 $10 Large Eagle, BD-4, High R.4, MS61 NGC. Bass-Dannreuther Die State d/b. Actually, an intermediate die state, as the reverse crack from the rim through R in AMERICA is just barely visible and the crack through C has not developed yet. The prominent cracks through the second 7 in the date are plainly visible.

The reverse design of the ten-dollar gold eagle was switched from the old Small Eagle design to the Heraldic Eagle motif part way through the year in 1797, and 10,940 specimens of the new design were struck. Three die varieties are known for the date and type, all employing the same obverse die. This coin represents the BD-4 variety, with a Long Thick Neck on the eagle. This was the only use of the reverse die, and the final use of the obverse. The BD-4 is the most available variety of this date, but the surviving population still does not exceed 90-110 examples in all grades. The BD-4 probably accounted for 3,500-5,000 pieces of the reported mintage.

As a date, 1797 eagles have been collector favorites since the earliest days of the hobby. Examples began appearing at auction as early as the A.C. Kline Sale (Moses Thomas, 6/1855), where an example was offered in lot 171. Interest in the various die varieties developed at an early date, possibly because of the change in the reverse design. John Colvin Randall had identified all four die varieties of the 1797 Capped Bust Right eagle by the time he sold his collection through W. Elliot Woodward in June of 1885. His attributions for the Heraldic Eagle varieties were based on perceived differences between the size of the obverse stars, rather than the different characteristics of the reverse dies. Although the same obverse die was used on all three varieties, the die was lapped between uses, altering the appearance of the stars slightly, especially on the inside points. he current price realized record for any 1797 Heraldic Eagle ten is $164,500, brought by the MS63 PCGS BD-2 example in our 2015 Central States Signature Auction.

The present coin is an attractive MS61 specimen, with well-detailed design elements, but weak dentilation on the obverse. Some faint planchet adjustment marks are evident in the dentils, on close inspection, and a small lint mark curls into the field, to the right of the date. The pleasing orange-gold surfaces are lightly marked for the grade and retain much original mint luster. Eye appeal is outstanding. Census: 29 in 61, 16 finer (10/17).
From The Robert Craig Family Collection.

Coin Index Numbers: (NGC ID# 25ZY, Variety PCGS# 45719, Base PCGS# 8559, Greysheet# 198073)

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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