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

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3161

Grade

AU58

Price

43,200

Lot Description

This handsome 1798 half eagle makes a strong visual impression. Despite the fact that it was struck from a late state of the dies, the definition is reasonably sharp on both sides. For the obverse, most of Liberty's hair curls are bold, and the scribe lines used by the engraver for placing the date are extraordinarily deep and touch the base of the digit 8. The dentils also show a scribe line used in laying out those features. Similarly bold definition is noted for most features on the reverse, although there is softness to the eagle's breast and the shield that also involves the hair curls behind Liberty's ear on the obverse. Classic honey-gold color graces both sides, with wisps of overlying pinkish-rose iridescence and much frosty luster remaining. The surfaces are nicer than usually seen on early half eagles, yielding excellent eye appeal. BD Die State d/b.<p>The extensive scribe or guidelines on the obverse of this variety are very interesting to study. This obverse was also used to coin the famed 1798 Small Eagle rarity (BD-1, with only seven or eight examples known). The reverse die is of the John Smith Gardner style with a long-necked eagle, irregular line star pattern, three claws over devices, and two rows of tail feathers. There are four vertical stripes in each shield element.<p>Die State d/b of this variety is characterized by extensive cracks on both sides. The long arc-shaped ridge created by the scribe lines on the obverse likely caused most of the peripheral cracks evident from 7 to 11 o'clock, and it is quite remarkable that the die did not completely fall apart with the formation of a cud in the area below the date. A trio of prominent reverse cracks radiates out from the scroll between the words PLURIBUS and UNUM, at least one of which bisects that side of the coin from the upper border outside the final letter S in STATES to the lower border below the end of the branch.<p>Of the 24,867 half eagles delivered during calendar year 1798, approximately 3,500 to 4,500 coins are believed to have been coined from the 1798 BD-2 die marriage offered here. This is a scarce variety with John W. Dannreuther (2006) providing an estimate of 50 to 70 survivors in all grades. Appealing to both advanced type collectors and early gold variety enthusiasts, this impressive half eagle is sure to see spirited bidding at auction.