1797 $10 Large Eagle MS62 NGC. BD-4, High R.4....

Description

1797 Capped Bust Right Eagle, MS62
Heraldic Eagle Reverse, BD-4
Only Four Finer Coins at NGC

1797 $10 Large Eagle MS62 NGC. BD-4, High R.4. Bass-Dannreuther Die State d/b. The eagle was the largest gold denomination struck prior to 1849. Early eagles were struck only through 1804, unlike the half eagles, which continued to be produced nearly annually until 1916. Unsurprisingly, Heraldic Eagle ten dollar pieces are scarcer as a type than their half eagle counterparts, since the latter type was coined through 1807.
The present MS62 example has a lustrous reverse and a satiny obverse. The portrait is slightly subdued, but the surfaces are generally radiant and have fewer abrasions than expected. The only mentionable marks are one pinscratch each right of the arrows, east of the chin, and across Liberty's jaw. A strong glass is required to locate them. Unlike on many early eagles, adjustment marks are absent, presumably because the planchet was of proper weight to begin with. The design elements are sharply detailed, with just a touch of softness on the reverse star above the eagle's beak. This star is opposite Liberty's shoulder, which is a high point of the design. A minor rim bruise is evident at 6 o'clock.
The die state appears identical to that of the Bass representative, which is currently on loan to the ANA museum in Colorado Springs. Radial die cracks are present from the rim to obverse star 8, through the second 7 in the date, the R and C in AMERICA, and from the rim to the center of the eagle's tail. The design of the eagle differs from BD-2 and BD-3, the other Heraldic Eagle varieties of the date. For example, BD-3 has a toucanlike extended beak, while BD-2 has a chickenlike lengthy thin neck. The eagle for BD-4 has a tongue, but it is short and thick. The tongue is absent on BD-3 and is long and thin on BD-2. John Dannreuther speculates that the punch used for the BD-2 variety may have been modified to produce this reverse die.
The BD-4 is the most available variety of the date, but it is still quite scarce in today's market. Experts estimate the surviving population at no more than 90-110 pieces in all grades.
Census: 15 in 62, 4 finer (2/12).
Ex: Dallas Signature Auction (Heritage, 10/2006), lot 2907, realized $69,000.(Registry values: P3)

Coin Index Numbers: (NGC ID# 25ZY, PCGS# 8559, Greysheet# 9344)

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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