1795 $5 Small Eagle, BD-4, R.5, MS61 PCGS....

Description

1795 Capped Bust Right Five, MS61
First Year of Gold Coinage
Small Eagle, BD-4

1795 $5 Small Eagle, BD-4, R.5, MS61 PCGS. Bass-Dannreuther Die State c/a, with star 1 touching the curl and a die crack from the rim through star 12. The United States Mint struck gold coinage for the first time in 1795, beginning with a delivery of 744 Capped Bust Right half eagles on July 31. The Mint continued to produce half eagles through September 16, by which time 8,707 pieces had been delivered. Coinage of half eagles was then halted for the year and production of ten dollar eagles was begun. It is likely that some 1795-dated half eagles with the Small Eagle reverse were struck in 1796, as well, since the Mint often continued using dies from prior years as long as they remained serviceable. Twelve die varieties are known for the date that feature the Small Eagle reverse. Remarkably, three varieties of 1795-dated half eagles are also known that exhibit the Large Eagle reverse design. The Large Eagle varieties were almost certainly struck from leftover 1795 obverse dies in 1798.

The present coin is a representative of the BD-4 variety, with the Wide Date, star 11 touching Y in LIBERTY, and three berries in the wreath on the reverse. The obverse die had been used previously to strike the BD-2 and BD-3 varieties of this date, but this was the only use of the reverse die. This die pair probably struck 1,000-1,500 pieces of the reported mintage. John Dannreuther estimates the surviving population at 60-75 examples in all grades today.

The coin offered here is an impressive Mint State example, with pleasing orange-gold surfaces that are lightly marked for the grade. Both sides show a mix of satiny mint luster and semiprooflike reflectivity. The well-detailed design elements exhibit just a touch of the usual softness on Liberty's hair and the eagle's breast. The overall presentation is most attractive for this important first-year issue. Population: 27 in 61, 41 finer (11/21).

Coin Index Numbers: (NGC ID# 25ND, Variety PCGS# 519853, Base PCGS# 8066, Greysheet# 198166)

Weight: 8.75 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.

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