1798 $5 Large 8, 13 Star Reverse MS(PCGS#8078)

Spring 2026 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3131

Grade

AU55

Price

22,800

Lot Description

BD Die State d/e. An attractive frosty example boasting much mint luster and subtle wisps of pinkish-rose iridescence to dominant olive-gold coloration. The strike is uniform and bold, showing just a touch of softness to Liberty's hair and the eagle's breast that is typical for the variety. The diagnostic cuds at the upper reverse border are well developed, confirming the terminal state of the 1798 BD-4 half eagle dies.<p>Soon after the denomination's introduction in 1795, the half eagle became a popular larger denomination coin in everyday use. Production was maintained at a fairly consistent rate beginning in 1797, despite the frequent yellow fever outbreaks for which Philadelphia of the 1790s was well known. During these outbreaks, Mint operations were interrupted often for months at a time, compelling Mint personnel to employ some novel die pairings using whatever was on hand at the time in order to meet demand. The die pairs employed in 1798 used reverses that have been the subject of study for decades. Both the obverse and reverse dies employed for the BD-4 combination suffered from clashing early in their service lives. The obverse die began to crack, while the reverse - used only for this pairing - suffered from cud breaks and lighter cracks. While trying to maintain their usefulness as long as possible, both dies were lapped, but even this could not prevent them from failing completely not long after the present specimen was struck. Out of the reported mintage of 24,867 half eagles for calendar year 1798, between 5,000 and 7,000 coins were struck from this die pair before it failed, making this the most available of all the 1798 half eagle varieties and all pre-1800 half eagles in general. The BD-4 is far from common in an absolute sense, of course, and due in no small part to the rampant speculation and meltings of the 1820s. No more than 100 specimens likely survive for numismatists. The offered Choice AU example in PCGS AU-55 is an ideal choice for the numismatist seeking to assemble a first-class display of early type gold.