1795 $5 Small Eagle AU55 NGC....

Description

Choice AU 1795 BD-6 S over D Half Eagle

1795 $5 Small Eagle AU55 NGC. Breen-6414, BD-6, R.5. The popular S over D variety with the final S in STATES punched over an errant D. There are 12 different 1795 Small Eagle varieties identified today, and they are the first Federal gold coins minted after a coinage impediment was alleviated. The Mint Act of April 2, 1792 required an excessive surety bond for mint officers, and those best suited to the job of assayer and coiner were unable to post the bond. The Mint Act asked for $10,000 bond to be posted by officers whose annual salary was only $1,500. On February 8, 1794, David Rittenhouse wrote to Congress that "a man's ability to give security depends much on accidental circumstances, little connected with either his qualifications or his moral character."
The first deposits of silver were converted to silver dollars in October 1794, and the first gold deposits were coined in July 1795. Moses Brown of Massachusetts made the first deposit of gold on February 12, 1795, providing 128 ounces. The first delivery of half eagles consisted of 744 coins that the chief coiner delivered to the Mint treasurer for distribution. Today, we are unable to identify the exact varieties that were included in that first delivery. The two S over D varieties are entirely unconnected with the other 10 die marriages in the 1795 sequence, and it is possible that these coins were the first 1795 half eagles coined that July.
This pleasing piece has faint green color in its brilliant yellow-gold surfaces with hints of reflectivity in the fields, especially near the borders. Both sides are lightly marked as expected, but there are no significant abrasions. A splendid piece, this important half eagle will make a nice addition to a specialized variety collection, or a date or type set.(Registry values: P5)

Coin Index Numbers: (NGC ID# 25ND, PCGS# 8066, GSID# 8791)

Metal: 91.67% Gold, 8.33% Copper
Weight: 8.75 grams
AGW: 0.25789oz
Mintage: 8,707

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 NGC