1798/7 $10 9x4 Stars MS62 PCGS. BD-1, High R.4. ...

Description

1798/7 BD-1 Eagle, MS62
Nine Stars Left, Four Right
The Baldenhofer Specimen
Third Finest Known

1798/7 $10 9x4 Stars MS62 PCGS. BD-1, High R.4. Not so long ago, the 1798/7 BD-1 Eagle was considered a major rarity. As recently as 1988, Walter Breen reported his belief that only 18 to 20 were known. He reported six Mint State pieces, three mutilated examples, and the rest in grades from VF to AU. That total was only slightly higher than the 17 to 18 examples he reported two decades earlier in his United States Eagles monograph. Today, we are aware of many more. John Dannreuther suggests that 80 to 100 examples are known in the Bass-Dannreuther reference. However, the 1798/7 BD-1 eagle remains extremely rare in Mint State grades. We have compiled the following census of eight Mint State coins:

MS63 estimated grade. Harold P. Newlin (10/1884); T. Harrison Garrett; Garrett Family Collection; Johns Hopkins University; Bowers and Ruddy (10/1980), lot 1659; Harry W. Bass, Jr.; Bass Foundation Core Collection.
MS63 NGC Heritage Auctions (8/1996), lot 8410; Heritage Auctions (7/2003), lot 10412; Heritage Auctions (1/2004), lot 2200.
MS62 PCGS Farish Baldenhofer Collection (Stack's, 11/1955), lot 1439; Bowers and Merena (8/1999), Lot 421; Superior (2/2000), lot 1176; Goldberg Coins (2/2002), Lot 2058; Heritage Auctions (1/2004), lot 3056; Goldberg Coins (9/2008), lot 1274; Goldberg Coins (2/2009), lot 1524. The present coin.
MS62 National Numismatic Collection; Smithsonian Institution.
MS61 Col. E.H.R. Green; Stack's (1945); J.K. Lilly, Jr.; Smithsonian Institution.
MS61 NGC Goldberg Coins (9/2008), lot 1275; Stack's-Bowers (1/2013), lot 13324; Bonham's (6/2013), lot 2351.
MS61 PCGS RARCOA, February 1, 1975; Harry W. Bass, Jr.; Bowers and Merena (5/2000), lot 561.
MS60 Louis E. Eliasberg, Sr.; Bowers and Ruddy (10/1982), lot 649.


For years, the mintage of this variety has been recorded as 900 coins, as that was the quantity delivered on February 17, 1798. Several days later on February 28, another 842 eagles were delivered. The next delivery of the denomination was over a year later in May 1799. However, there were four earlier deliveries that took place in January 1798 (11, 20, 23, 30). The total production of eagles for the calendar year was 7,974 coins. It is doubtful that any of the coins struck in 1799 were dated 1797 or 1798, and we can be certain that the 1798 eagles were not struck in 1797. Therefore, both varieties of 1798/7 eagles were minted in January or early February 1798.

However, we know from die state evidence that examples of 1797 BD-2 were struck after the 1798 eagles, and today we are certain that the two varieties of 1798 were included in the January deliveries, although the quantity is unknown.

This is a lovely example that shows the usual bright green-gold coloration common to early tens. The obverse has a number of very shallow, horizontal adjustment marks. Because they are so shallow they at first appear to be roller marks, but since they cover most of that side, are present on both the devices as well as in the fields, and they are not exactly parallel, they can only be adjustment marks. Needless to say, they do little to detract from the coin's overall attractiveness because they are so slightly impressed into the coin's surface; nevertheless, we feel compelled to mention them for accuracy's sake. Slightly soft in the center of each side, both obverse and reverse are well impressed elsewhere, and there are no obvious or distracting marks that one could easily use as pedigree identifiers. Population: 1 in 62, 0 finer (3/14).(Registry values: P7)

Coin Index Numbers: (NGC ID# BFYR, PCGS# 8560, Greysheet# 9354)

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.

View Certification Details from PCGS