LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

3239

1795 $10 13 Leaves AU53 PCGS

Currency:USD Category:Coins & Paper Money / US Coins Start Price:51,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1795 $10 13 Leaves AU53 PCGS
<B>1795 $10 13 Leaves AU53 PCGS.</B></I> Breen-6830, Taraszka-1, BD-1, High R.3. Although he was already in frail health, scientist-clockmaker David Rittenhouse did not hesitate in 1792 when President George Washington pressed upon him the responsibility of becoming the nation's first Mint Director. Rittenhouse oversaw the construction of the first Mint buildings and the issuance of the nation's first official coinage, which by the time he left office in June 1795 included copper half cents and cents, as well as silver half dismes, dimes, half dollars, and dollars. <BR> South Carolina native William DeSaussure assumed the directorship, and President Washington tasked him with seeing to the issuance of gold coins and improving the already-circulating coinage designs, which overall had met with little enthusiasm among the general public. The bulk of the nation's early coinage comprised one denomination in each of three metals: copper cents; silver half dollars; gold half eagles. The half eagle, or five dollar gold piece, was close in size to various circulating foreign gold coins that were then legal tender in the United States--likely why the half eagle on July 31, 1795, per Warrant 1, became the first gold denomination to actually be coined. Throughout the history of gold coinage, the United States consistently produced more gold half eagles than eagles, despite the latter's position as the unit gold denomination. Mint designer-engraver Robert Scot prepared dies that were identical in design for the 1795 half eagles and eagles, both denominations featuring the Small Eagle reverse, which was soon to be supplanted by the Large or Heraldic Eagle. <BR> Eagle coinage followed soon after, in mid- or late September 1795. Scot prepared three each obverse and reverse dies, which were married in five known combinations, four of them with the 13 Leaves reverse and the fifth (BD-3) with the fabled and coveted 9 Leaves reverse. Breen wrote in his <I>Complete Encyclopedia </B></I>that the palm fronds were an "oblique heraldic reference to the southern homeland of Mint Director DeSaussure (possibly also to Gen. Washington?)" but the claim appears fabricated, if not downright mystifying.<BR> The three 1795 obverses are distinguished from one another based on the relative positions of the 5 and the bust, and star 11 compared to the Y in LIBERTY. The two 13 Leaves reverses are easily spotted by whether a leaf touches the U in UNITED. On the present BD-1 specimen, star 11 grazes the Y in LIBERTY, while on the reverse (shared with BD-2) a palm frond abuts the bottom of the U.<BR> This is a particularly attractive, problem-free Small Eagle ten. The striking details are strong in most areas, and there is just a bit of friction over the highpoints of the design and in the fields. As one would expect, there are a number of small handling marks on each side, but the only one worthy of mention (and that may be questionable) is a shallow scratch by star 13. The rich yellow-gold surfaces show just a hint of reddish patina around the margins.<BR> This is the most common--in a relative sense--of the 1795 13 Leaves varieties. Dannreuther and Bass estimate that from 2,795 to 5,583 pieces were produced, with 225 to 325 examples surviving today. As the BD-2 (High R.4), BD-4 (R.5), and BD-5 (R.5) 13 Leaves variants are all much more elusive, the present coin, a lovely Almost Uncirculated example of the nation's first eagle coinage, must be seriously considered for inclusion in a fine date, type, or variety set of early gold.<BR><I>From The Leo Beranek Collection of Early Federal Coinage.</B></I><BR><BR><B>Coin Engraver:</B> Robert Scot<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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