LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3494

1795 $5 Large Eagle MS62 PCGS. Breen-6423, BD-15, High

Currency:USD Category:Coins & Paper Money / US Coins Start Price:26,000.00 USD Estimated At:1.00 - 2.00 USD
1795 $5 Large Eagle MS62 PCGS. Breen-6423, BD-15, High
<B>1795 $5 Large Eagle MS62 PCGS.</B></I> Breen-6423, BD-15, High R.5. Obverse State C. This is not the terminal die state, which is reserved for the few pieces that are known with a die cud over the TE in STATES. This state, however, shows plentiful die cracks on each side, including the diagnostic crack from star 13 to the lower lip of Liberty. There is some dispute about the exact die emission sequence of this and other 1795 fives. However, it is beyond dispute that this variety was produced in 1797 or 1798. The Heraldic Eagle reverse was first used in 1797. The Bass-Dannreuther reference states that this variety was minted after the 1797 BD-5, as "the common reverse die is in a much earlier state for the BD-5 pairing."<BR> These "1795" half eagles possess a charm and desirability seen on few other early gold coins. Much of their desirability lies in the anachronistic nature of the coins themselves. That is, the 1795-dated obverse is paired with a Heraldic Eagle reverse--an impossibility for coins issued in 1795 or even 1796. Breen postulates that this was an emergency issue in his 1988 <I>Encyclopedia:</B></I><BR><BR> "From Aug. 20 through Nov. 1, the Mint was again closed for the yellow fever epidemic. On Dec. 5 followed 3,226 , emergency issues, possibly comprising some or all of these: 1795 Heraldic, 1797/5, 1798 Rusted Dies. Other issues attributed to Dec. 1798, made in haste in various denominations to fill back orders, also severe die rust and breakage: Evidently any dies that would stand up even briefly were used, no matter how haphazard or anachronistic their combinations."<BR><BR> Of course, another reason for the popularity of this issue is its absolute rarity. Only 30 to 35 individual pieces are known. The average grade is quite high with a number of Mint State coins extant. However, the MS62 level is the breaking point for this issue with a mere six pieces certified (probably even fewer actually accounted for) in MS63 and 64 grades.<BR> This particular piece has bright yellow-gold surfaces. There are numerous small abrasions scattered about, but none are worthy of individual mention.<BR><I>From The Essex Palm Collection.</B></I><BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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