1795 $5 Small Eagle, BD-8, High R.5, AU58 NGC....

Description

1795 Draped Bust Half Eagle, AU58
Attractive First Year Issue, BD-8

1795 $5 Small Eagle, BD-8, High R.5, AU58 NGC. Bass-Dannreuther Die State a/a. In this first usage of both working dies on 1795 BD-8, the dies remain perfect with no clashing, no lapping, and no die cracks. This perfect state of the dies also determines the emission order placement of the variety before the dies become clashed and cracked in later usage. The BD-8 die marriage is attributed on the obverse by the narrow date with 1 just free of hair, and one star point of star 10 to cap. For the reverse, there are three berries, none on the inside left, and the outside left berry is high. This is a rare variety, with John Dannreuther estimating 30 to 40 specimens known for 1795 BD-8 in all grades and conditions.

The United States Mint had been in operation since 1792, but gold coins were not minted until the first delivery of 744 Draped Bust, Small Eagle five dollar coins on July 31, 1795. This was during the short tenure of the second mint director, Henry William de Saussure, although the long lead time of the original (master) dies, hubs and working dies, along with the melting, refining and assaying of the gold, indicate that the first mint director, David Rittenhouse, was deeply involved in the planning of the gold issues. Chief Engraver Robert Scot had the responsibility of designing and engraving the Draped Bust, Small Eagle designs for the five and ten dollar issues in 1795. Scot had long experience in neoclassical copperplate engraving and plaster modeling, and his gold designs had neoclassical inspiration with the drapery, combined with what ninth mint director James Ross Snowden would describe as "a female bust, emblematic of Liberty, facing to the right, wearing a liberty-cap, with the hair flowing loosely about it."

Rich antique-gold toning with deep olive hues gives this example very attractive eye appeal. The strike is good, with some typical softness in the central hair curls along and the eagle's head, but most of the design elements are well-formed with good definition. Satiny luster is observed in sheltered areas including around the stars, lettering, and portions of the central devices. Small circulation marks are seen from the coin's brief excursion into commerce, with a mark on the reverse left of the wreath noted for accuracy, but it is toned over and unobtrusive. Overall, an outstanding representative of the iconic first year issue design of United States Mint gold half eagles.

Coin Index Numbers: (Variety PCGS# 519857, Base PCGS# 8066, Greysheet# 198168)

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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