LOT #3147 |
Current Bid: $125
1798/7 $10 9x4 Stars, BD-1, High R.4, AU58 NGC. CAC....
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Description
1798/7 9x4 Stars Eagle, AU58
BD-1, CAC Approved
An Exceptional Example
1798/7 $10 9x4 Stars, BD-1, High R.4, AU58 NGC. CAC.
Bass-Dannreuther Die State c/b. In numismatics, much of the
activities of the early Mint are necessarily based on conjecture;
facts are few, and much is unrecorded. Specifically, in terms of
mintage figures, those totals reported today in modern reference
books are in many cases based on the relationship of the
relationships of surviving population, number of die states, and
Mint-recorded delivery figures (which are themselves unspecific as
to the date of the coins reported on). The Guide Book
records mintages of 900 coins for the 1798/7 eagle, 9x4 Stars
(BD-1) and 842 coins for the 1798/7 eagle, 7x6 Stars (BD-2). These
mintage totals have their earliest roots in Walter Breen's
Complete Encyclopedia and his assertion that "the great
rarities of this period [Scot's Heraldic Design, 1797-1804] are the
two vars. dated 1798/7. The two deliveries of [900] and [842], Feb.
17 and 28, 1798, are believed to comprise, respectively,
6836 with stars 9 + 4, and 6837 with stars 7 + 6.
Coinage of eagles was interrupted thereafter until May 14, 1799.
Early breakage of both obv. dies may have been why."However, the Breen assertions do not immediately square with the Annual Report of Mint Director Elias Boudinot, submitted to Congress by President John Adams on January 31, 1799. That document reports a total of 7,974 eagles produced "since the first of January, 1798; during which time, the coinage has been stopped near three months, occasioned by the late calamitous fever, and the decay of some of the machinery."
There certainly is no guarantee that the eagles produced in 1798 were all dated 1798/7, 1797, 1799, or any other date, for that matter, but it does cast doubt on the "exactitude" of the Guide Book figures. It is true that both the BD-1 and BD-2 varieties showed extensive die cracks that may have led to their early retirement -- but what dies were used for the remainder of the coinage, if any? Both 1798/7 varieties were struck with the Large Eagle reverse die that was carried over from the BD-3 of 1797, based on die state evidence.
Taking all data into account, John Dannreuther, in Early U.S. Gold Coin Varieties, estimates a mintage of 1,200 to 1,600 coins for the BD-1 variety, and 300 to 842 coins for BD-2. BD-2 is proportionately rarer than BD-1, with only 20 to 30 examples thought to survive, while Dannreuther's estimate for the BD-1 is 80 to 100 examples. Both the overdate and the 9x4 star arrangement -- the only such among early gold issues -- make BD-1 an extremely popular and collectible overdate. The present near-Mint State specimen exhibits old-time olive-gold color with deep reddish patina around all the devices on each side. Only minor rub is visible on the high points, but there is little luster. Three tiny field marks appear near star 12. Census: 10 in 58, 5 finer. CAC: 3 in 58, 0 finer (8/25).
Ex: FUN Signature (Heritage, 1/2012), lot 4957.
From The Hawkeye Collection.
Coin Index Numbers: (Variety PCGS# 45720, Base PCGS# 8560)
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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Auction Info
2025 October 2 - 5 GACC US Coins Signature® Auction #1386 (go to Auction Home page)
Proxy Bidding Ends
October
2nd
Thursday
12:50 pm CT
Auction Dates
October
2nd-5th
Thursday-Sunday
Proxy Bidding Time Remaining
19 Days
16h 33m 31s
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This lot is in: 1 -
Signature® Premier Floor Session - PREMIER (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
(Lots 3001-3238) - 1:00 PM Central Time, Thursday, October 2, 2025.
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Heritage Auctions
2801 W. Airport Freeway
Dallas, TX 75261
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