1799 $10 Large Obverse Stars, BD-10, R.3, MS64+ PCGS....

Description

1799 Large Stars Obverse Eagle, MS64+
BD-10, Perfect Die State
Conditionally Rare Type Coin

1799 $10 Large Obverse Stars, BD-10, R.3, MS64+ PCGS. Bass-Dannreuther Die State a/a. In his study of the BD-10 die pair, Harry W. Bass, Jr. noted: "Thin curved remnant of a previous 9 above final 9." On this early die state piece, the repunched 9 feature is plainly visible with minimal magnification. This is the only 1799 obverse die prepared with the large star punch. The die was undamaged in its first use (BD-9) and is still in perfect condition in this early die state of BD-10. A later die state shows cracks at the upper-left obverse, although a terminal state is not known.

The reverse die is seen here in its first of three pairings. Unusually durable for working dies of this period, this reverse was employed for all 1800-dated coins and the rare BD-1 variety of 1801. According to John Dannreuther in Early U.S. Gold Coin Varieties, this reverse die may have struck as many as 34,000 coins between its three uses. In the early die state of the 1799 BD-10 issue, seen here, the die is in perfect condition.

BD-10 is the most plentiful 1799 eagle variety, but in the lofty MS64 grade level, that general availability is welcome as otherwise a Draped Bust ten in this high of a grade would be virtually uncollectible. Even so, BD-10 is functionally rare this fine -- far more so than the certified population figures suggest. Since our Permanent Auction Archives began in 1993, we have handled 1799 tens on more than 350 occasions, but the majority of the coins represented graded in the XF to high AU range. Uncirculated pieces are scarce by comparison and often show moderate field chatter or slide marks that produce a grade no better than MS62. All varieties included, we have only handled an MS64 coin on 18 previous occasions, and finer Gems we have seen only once. In our April 2015 Central States Signature sale, a BD-10 coin in MS64 PCGS garnered $141,000 after spirited bidding. The present example is at least that coin's equal, and arguably finer, being markedly sharper in strike throughout the stars, hair curls, and eagle. Shimmering, frosty yellow-gold luster is unabraded and original, and were it not for a few truly faint lines in the right obverse field, a Gem grade might have been achieved. Beautifully preserved, eye-appealing, sharp, and conditionally rare -- this piece is the epitome of the perfect type coin.

Coin Index Numbers: (NGC ID# 2625, Variety PCGS# 45723, Base PCGS# 8562, Greysheet# 198075)

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