1795 $10 BD-1, 13 Leaves MS(PCGS#45710)

The August 2012 Philadelphia ANA World's Fair of Money Auction

Auctioneer

Stack's Bowers

Lot Number

11721

Grade

MS62

Price

132,775

Lot Description

1795 Capped Bust Right Eagle. Taraszka-1, BD-1. Rarity-3+. 13 Leaves. MS-62 (PCGS). When the Mint Act of April 2, 1792 was passed, the gold eagle or $10 coin was adopted as the highest monetary unit. Because of this, when the $20 became a reality in 1849 it was called the double eagle. As a symbol of the nation's ability to strike gold coins, however, the eagle had no equal during its early years. It was a large coin, measuring approximately 33 millimeters, and it weighed a relatively substantial 17.50 grams. In fact, these specifications would remain unchallenged in their supremacy among U.S. gold coins until the first double eagles entered circulation in 1850. However, regarding the eagle, many of them were exported, and coinage was stopped after 1804 and not resumed until 1838. During that period the gold half eagle was the largest American denomination.The initial ten-dollar gold design of 1795 was that of Robert Scot's Capped Bust Right motif with a small eagle on the reverse. There must have been considerable fanfare at the Mint when the first examples emerged from the presses, being that it was one of then-Mint Director Henry William DeSaussure's stated objectives to place gold into circulation. Although he accomplished this feat with the half eagle, the arrival of the first of the impressive-looking eagles almost certainly pleased him to no end. As a representative of the first die marriage employed in the delivery of this issue, the present example is certainly a strong contender for having left the Mint in such a manner. Seldom will one encounter a Capped Bust eagle of any date whose surfaces are as well preserved and attractive as those of this example. There a few small abrasions on the reverse side, and those are small in size and anything but distracting to the eye. Full, semi-reflective luster shimmers as the coin rotates under a light, the surfaces also drenched in light, yellow-gold color. The overall strike is typical for the issue; and the only features that are not strong are the high points of the eagle's head and breast on the reverse, as well as a few areas of denticulation around the peripheries on both sides. Numerous crisscrossing mint-made adjustment marks are prominent on the obverse. A wonderful Brilliant Uncirculated representative of this charming gold design from the early years of the United States Mint.Numismatic Reflections by Q. David Bowers I do not have much to add to the preceding, as it seems to say it all. If you are building a type set, having a high grade example of the first die combination of the first year of issue is an important feature. If collecting by die variety is a specialty -- likely not for numismatists at present but who knows? -- this is also a marvelous opportunity. Either way this Mint State piece will be long remembered.