1798/7 $10 9x4 Stars, BD-1, High R.4, MS63 PCGS....

Description

1798/7 BD-1 Eagle, MS63
The Garrett Collection 9x4 Stars Variety
Possibly the Finest Known

1798/7 $10 9x4 Stars, BD-1, High R.4, MS63 PCGS. Ex: Harry W. Bass, Jr. Collection. Bass-Dannreuther Die State c/b. Four obverse dies were created for the 1797 eagle coinage, and each die had a unique layout. The obverse of the 1797 Small Eagle pieces had 12 stars to the left and 4 to the right. The single obverse die used for three varieties of 1797 Heraldic Eagle coins had 10 stars to the left and 6 to the right.

Two unused obverse dies prepared for the 1797 eagle coinage were overdated at the beginning of 1798 and placed into service. Each die had a different layout compared to those used in 1797. The 1798/7 BD-1 eagles, such as that offered here, have the stars arranged 9 left and 4 right. The other 1798/7 variety, BD-2, has the stars arranged with 7 left and 6 right. The change from 16 stars to 13 stars apparently happened in 1797 as Mint officials realized that they couldn't keep adding stars for every new state.

Once thought to be a major rarity, the 1798/7 BD-1 die marriage is considered scarce today with about 80 to 100 examples known in all grades. However, Mint State pieces remain elusive with just 12 such coins known to us. The present coin from the Garrett Collection, with a continuous provenance for nearly 140 years, is apparently the finest known.

Both sides of this highly lustrous yellow-gold eagle have frosty surfaces with exceptional eye appeal. A few splashes of light orange toning add to the aesthetics of this exceptional example. Faint adjustment marks are evident on the reverse although they are mostly blended into the surface and were diminished when this piece was struck. Some central design elements on both sides are weak as a result. Planchets were adjusted in the Mint prior to striking. The purpose was to fine-tune the weight of those planchets to meet statutory standards. In many cases, striking the coin softened or eliminated those marks. In other cases, the adjustment marks left the planchet surface uneven, and when struck, affected the strength of design elements. Population: 1 in 63, 0 finer (1/23).

Mint State Census of 1798/7 BD-1 Eagles
The cataloger, working with Ron Guth, has prepared the following census of 12 Mint State 1798 BD-1 eagles.

1. MS63 PCGS. Harold P. Newlin Collection (privately, 10/31/1884); T. Harrison Garrett Collection; Robert Garrett; John Work Garrett; Johns Hopkins University (Bowers & Ruddy 10/1980), lot 1659, realized $52,500; Harry W. Bass, Jr.; Harry W. Bass, Jr. Research Foundation Core Collection (HBCC #3180). The present specimen.
2. MS63 NGC. Ketring Family Collection (Heritage, 7/2003), lot 10412, realized $132,250.00.
3. MS62+ PCGS. New Orleans Collection (Heritage 4/2015), lot 5383, realized $188,000; New Orleans Collection, Part II (Heritage 6/2015); lot 4276, realized $199,750; Bob R. Simpson Collection (Heritage, 8/2022), lot 3387, realized $324,000.
4. MS62+ PCGS. John M. Clapp Collection (via Stack's, 1942); Louis E. Eliasberg, Sr.; United States Gold Coin Collection (Bowers & Ruddy, 10/1982), lot 649, realized $33,000; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2096, realized $258,500; Tyrant Collection.
5. MS62 PCGS. Farish (William Gustav "Bill") Baldenhofer Collection (Stack's, 11/1955), lot 1439; Rarities Sale (Bowers & Merena, 8/1999), lot 421; Pre-Long Beach Auction (Superior, 2/2000), lot 1176; Benson Collection, Part II (Goldberg Auctions, 2/2002), lot 2058, realized $51,750; FUN Signature (Heritage, 1/2004), lot 3056, realized $80,500; Pre-Long Beach Auction (Goldberg Auctions, 2/2007), lot 2387, realized $218,500; Pre-Long Beach Auction (Goldberg Auctions, 9/2008), lot 1274, not sold; Pre-Long Beach Auction (Goldberg Auctions, 2/2009), lot 1524, realized $178,250.00; Central States Signature (Heritage, 4/2014), lot 5761, realized $176,250.
6. MS62 NGC. ANA Signature (Heritage, 8/1996), lot 8410, realized $49,500; FUN Signature (Heritage, 1/2004), lot 2200, not sold.
7. MS61 PCGS. FUN Signature (Heritage, 1/2015), lot 4324, realized $117,500.
8. MS61 PCGS. Major William Boerum Wetmore Collection (S.H. & H. Chapman, 6/1906), lot 32, realized $77; later, RARCOA (privately, 2/1/1975); Harry W. Bass, Jr.; Bass Collection, Part III (Bowers & Merena, 5/2000), lot 561, realized $75,900; James R. McGuigan (2003); Harvey B. Jacobson (Stack's, 11/2022), lot 4011, realized $168,000.
9. MS61 PCGS. Rube Collection (Heritage, 8/2018), lot 5258, realized $96,000.
10. MS61 NGC. Ohringer Family Trust Holdings, Part II (Goldberg Auctions, 9/2008), lot 1275, realized $138,000; Rarities Night (Stack's Bowers, 8/2012), lot 11730, not sold; Stack's Bowers (1/2013), lot 13324; Pre-Long Beach Auction (Goldberg Auctions, 1/2014), lot 1825, not sold; Rarities Night (Stack's Bowers, 8/12/2014), lot 13236, not sold; Stack's Bowers (8/31/2014), lot 21056, not sold.
11. Unc Details -- Cleaned -- PCGS. FUN Signature (Heritage, 1/2019), lot 4682, realized $36,000; Central States Signature (Heritage, 4/2019), lot 3895, realized $33,600.
12. Brilliant Uncirculated. Stack's (3/1995), lot 556, realized $46,200.
From The Harry W. Bass, Jr. Core Collection, Part III.

Coin Index Numbers: (Variety PCGS# 45720, Base PCGS# 8560, Greysheet# 393215)

Metal: 91.67% Gold, 8.33% Copper
Weight: 17.50 grams
AGW: 0.57oz
Mintage: 900

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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