LOT #1008 |
Current Bid: $11,500
1797 $5 Small Eagle, 15 Stars, BD-2, R.7 AU53 NGC....
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Description
1797 BD-2 Half Eagle, AU53
Small Eagle, 15 Stars
Late Reverse Die State
1797 $5 Small Eagle, 15 Stars, BD-2, R.7 AU53 NGC.
HBJ-208. Ex: Hilt Collection. The present AU53 offering
displays bright yellow-gold surfaces that retain traces of luster
in the recessed areas. The design elements are well-defined,
including Liberty's hair and drapery and most of the eagle's wing
plumage. Some feather details are also visible on the breast and
legs, while the head and neck are weak as usually seen. Distributed
marks are visible on both sides, more so on the obverse. Adjustment
marks are completely lacking. This is an excellent choice for a
high-grade, advanced collection of early U.S. gold coinage.Variety Equivalents: Adams-1, Breen 11-J, Hilt 12-L, Miller-18, Bass-3046.
Obverse Die: The obverse is found only in this die marriage.
Reverse Die: The reverse appeared on 1797 BD-1 before its use for BD-2.
Bass-Dannreuther Die State b/d: Like most or possibly all others, this example has a prominent die crack through the I of UNITED to the base of the left (facing) wing that continues through the bottom of the right (facing) wing to the border. A vertical crack through the E of STATES eventually reaches the lower border.
NGC Census Data (10/25): For all varieties, NGC has certified 23 1797 Small Eagle half eagles in all grades. Three of those are graded AU53 and 10 submissions are finer. This example is the only attributed submission in their census.
Significant Examples: This example is tied for third finest of seven examples known to us.
Breen (1966): Breen had little to say about this variety. Much of the research for his 1966 monograph was based on earlier research by Edgar Adams, Waldo Newcomer, and John Clapp. Breen also relied on earlier auction listings that typically included short descriptions and poor photographic reproduction. However, his efforts laid the groundwork for recent studies of early gold.
Bass-Dannreuther (2006): "This is a very rare variety with a dozen or so known, although some have estimated as high as 20 or more extant. Some have postulated that this variety is more available than the preceding one ... The fact that the reverse is always seen cracked (second use) and the obverse on most examples is lapped, one can conclude that the reverse failed fairly quickly and the obverse may have suffered the same fate (possibly concurrently)."
Heritage Commentary: The Capped Bust to Right Small Eagle Reverse was struck from mid-1795 through early 1798, after which the Small Eagle was changed to the Heraldic Eagle. The estimated mintage of the Small Eagle design type, including all coinage dates, is 17,555 pieces, and the PCGS website estimates that 500 to 600 examples are known (11/14). Demand from type collectors has made this series very popular.
Doug Winter Commentary: With just seven coins known, the 1797 BD-2 is a major rarity; as is, of course, any half eagle dated 1797; this is an issue that is seldom available. I still regard this issue as being somewhat underpriced (even after the January 2023 sale of the Bass coin for a record-setting $288,000) given its rarity.
Provenance: Recorded in the following roster.
A roster of 1797 BD-2 half eagles known to us; provided by Ron Guth of the Numismatic Detective Agency with additional contributions from Mark Borckardt.
1. MS60 NGC. Amon G. Carter, Jr. Family Collection (Stack's, 1/1984), lot 637, $12,100; Pre-Long Beach Elite Auction (Superior, 9/2003), lot 2834, $100,625; ANA Signature (Heritage, 8/2010), lot 3471, $218,500; Baltimore Rarities Night (Stack's Bowers, 11/2021), lot 4104, $168,000.
2. AU58 PCGS. William J. Jenks Collection (John W. Haseltine, 6/1883), lot 329, $56; Garrett Collection, Part I (Bowers and Ruddy, 11/1979), lot 435, $20,000; Harry W. Bass, Jr. Foundation; Harry W. Bass, Jr. Core Collection/FUN Signature (Heritage, 1/2023), lot 9021, $288,000.
3. AU53 PCGS. Gilhousen Collection (Superior, 2/1973), lot 328, $4,600; Harry W. Bass, Jr. Collection, Part II (Bowers and Merena, 10/1999), lot 720, $69,000.
4. AU53 NGC. Robert P. Hilt, II Collection; Liberty USA Collection/FUN Signature (Heritage, 1/2015), lot 4279, $129,250. This has similarities to the Farish Baldenhofer Collection coin (Stack's, 11/1955), lot 1199. The present specimen.
5. AU53 NGC. James A. Stack, Sr. Collection (Stack's, 10/1994), lot 1034, $23,100; Chicago ANA (Stack's Bowers, 8/2013), lot 4471, $129,250; Baltimore Rarities Night (Stack's Bowers, 11/2021), lot 4105, $117,000.
6. AU Details, Repaired NGC. S.S. Forrest, Jr. Collection (Stack's, 9/1972), lot 178, $1,600; later, FUN Signature (Heritage, 1/2013), lot 5863, $23,735. This appears to be the same coin that was plated in the Dr. C.E. Smith Collection (Stack's, 5/1955), lot 1660, before the coin was repaired.
7. XF estimated grade. "Colonel" E.H.R. Green Collection - Partnership of Eric P. Newman & B.G. Johnson (St. Louis Stamp & Coin Co.); Clifford T. Weihman Collection; Josiah K. Lilly Collection, donated intact in 1968 by Lilly's estate to the National Numismatic Collection in exchange for a $5.5 million tax credit; National Numismatic Collection at the Smithsonian Institution (ID #68.159.156). This appears to be the Earle Collection coin (Henry Chapman, 6/1912), lot 2337.
A. Unc. Wolfson Collection (Stack's, 10/1962), lot 335, $3,500.
From The Harvey B. Jacobson, Jr. Collection of Early Half Eagles.
Coin Index Numbers: (NGC ID# BFWW, Variety PCGS# 519864, Base PCGS# 8069, Greysheet# 198179)
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.
Auction Info
2026 January 8 US Coins Signature Auction - FUN Special Sessions: Ellsworth & Jacobson #1389 (go to Auction Home page)
Proxy Bidding Ends
January
8th
Thursday
3:50 pm CT
Auction Dates
January
8th
Thursday
Proxy Bidding Time Remaining
14 Days
10h 15m 33s
Bids + Registered Phone Bidders: 15
Lot Tracking Activity: 29
Page Views: 206
Buyer's Premium per Lot:
22% of the successful bid (minimum $29) per lot.
This lot is in: 1 -
Signature® Floor Session - Platinum Session - The Harvey B. Jacobson, Jr. Collection of Early Half Eagles (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
(Lots 1001-1068) - 4:00 PM Central Time, Thursday, January 8, 2026 (5:00 PM Eastern Time).
[Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live now starts within 2 hours of when the auction opens for proxy bidding and continues through the live session.]
Exhibition Viewing Times, Title Page, Floor Session and License Information
Additional Location Info:
Orange County Convention Center
North/South Building
9400 Universal Blvd.
Orlando, FL 32819
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