1798 $5 BD-8, Large Eagle, Normal 8 MS(PCGS#507328)

October 2018 Baltimore U.S. Coins Auction

Auctioneer

Stack's Bowers

Lot Number

2124

Grade

MS61

Price

24,000

Lot Description

Inviting Mint State 1798 Heraldic Eagle $5 Gold Scarce BD-8 Die Variety 1798 Capped Bust Right Half Eagle. Heraldic Eagle. BD-8. Rarity-5. Small 8. MS-61 (NGC). Vivid golden-yellow patina for this underrated Guide Bookvariety of the 1798 Heraldic Eagle five. Both sides are further enhance by a semi-prooflike finish that reveals noticeable reflectivity in the fields as the surfaces dip into a light. Boldly executed apart from a touch of softness to the central high points, the strike is ideally centered and nicely executed. The in hand appearance is uncommonly smooth for the assigned grade, and the eye appeal is also superior for a BU half eagle of this challenging early U.S. Mint type. BD Die State a/b. BD-8 is one of three die marriages of the Small 8 Guide Bookvariety of the 1798 Heraldic Eagle five. It is the most readily obtainable die marriage of this trio, BD-7 particularly rare with just six to 10 specimens known and BD-6 not much more plentiful with an extant population on the order of 30 to 40 coins. These estimates are per John W. Dannreuther (Early U.S. Gold Coin Varieties: A Study of Die States, 1794-1834, 2006), who confirms that BD-8 is also a significant scarcity with only 40 to 50 survivors in all grades. The total population of this Guide Bookvariety, therefore, is probably no more than 100 coins. With all early half eagles scarce to rare irrespective of type or die pairing, especially relative to market demand, the significance of this Mint State offering can hardly be overstated. PCGS# 8079. NGC ID: 25NN. Click here for certification details from NGC.