1795 $5 Small Eagle AU58 PCGS....

Description

Near-Mint 1795 Small Eagle Five, BD-1
Rare First Variety of U.S. Gold Coinage

1795 $5 Small Eagle AU58 PCGS. Breen-6412, BD-1, R.5. Mint records indicate 8,707 Small Eagle half eagles were struck in 1795. Because proper hardening techniques had not been developed for manufacturing the dies, many dies cracked quickly during the striking process and had to be discarded. Eight obverse and eight reverse dies were required to complete the small mintage, resulting in 12 distinct die marriages for the date (not including the three Large Eagle varieties coined in 1797-1798). The present coin is a representative of the BD-1 variety, characterized by the position of the flag of the 5 in the date overlapping the drapery and the point of the final star touching the bust. John Dannreuther estimates 750-1500 examples of the BD-1 variety were minted in 1795, with 40-50 examples surviving in all grades. Analysis of die states and other evidence indicates BD-1 was the first variety of half eagle struck in 1795, and hence the first variety of U.S. gold coinage produced by the fledgling Philadelphia Mint.
The present coin displays reflective semiprooflike fields, shining through rich reddish patina on each side. The peripheral striking details are sharp. Some softness is noted on the hair curls around the ear and the center of the eagle's breast. Numerous small abrasions are peppered over each side, but the only mentionable flaw is a shallow scratch in the upper right reverse field. Even this blemish is only visible at certain angles. The overall visual appeal of this scarce early half eagle is outstanding. Population: 26 in 58, 57 finer (3/10).(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.

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