1795 $5 Small Eagle, BD-10, R.5, AU55 NGC....

Description

1795 BD-10 Half Eagle, AU55
Scarce Early Die State

1795 $5 Small Eagle, BD-10, R.5, AU55 NGC. Bass-Dannreuther Die State c/b. Green-gold surfaces contain orange-gold overtones. Minor hairlines exist in the fields, but are not distracting, and the only abrasion of note is a linear scratch hidden in the eagle's breast. The impression is strong, particularly on the reverse, with a just hint of softness existing on the uppermost obverse strands of hair. Eye appeal is excellent, especially in the context of Early gold. Housed in a NGC Gen 7 holder, indicating certification between 1997 and August, 2000.
      The 1795 half eagle is, of course, the first year of issue for this then-flagship gold denomination. As all connoisseurs of Early U.S. coins know, the production of silver and gold coins was delayed by the need for surety bonds from Chief Coiner Henry Voigt and Assayer Albion Cox. These bonds, originally in the sum of $10,000, were unaffordable to both men. Even after a reduction to $5,000 and $1,000, respectively, the bonds had to be paid by others, with Mint Director David Rittenhouse covering Voigt's bond, and Charles Gilchrist covering Cox's bond. Silver production commenced with the famous 1794 dollars, delivered on October 15, 1794, and gold production began with the delivery of 744 half eagles on July 31, 1795.
     Evidently, many more 1795 obverse dies were produced than could be used in calendar year 1795, as many examples with this date were minted as late as 1797, including with the Heraldic Eagle reverse. While the present BD-10 die marriage has the typical Small Eagle reverse, it likely was produced in 1796. The present offering stems from the typical latest state of the dies, Bass-Dannreuther Die State c/b. It is among the scarcer Small Eagle varieties, as only BD-3 can be considered common.
From The Presidio Collection, Part II.

Coin Index Numbers: (NGC ID# 25ND, Variety PCGS# 519859, Base PCGS# 8066, Greysheet# 198170)

Metal: 91.67% Gold, 8.33% Copper
Weight: 8.75 grams
AGW: 0.28oz
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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