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

3132

1795 $5 Small Eagle AU58 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:20,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1795 $5 Small Eagle AU58 NGC
<B>1795 $5 Small Eagle AU58 NGC.</B></I> Breen-6417, BD-12, R.6. Formerly cataloged as Breen-8I from his early gold references published in the mid-1960s, this variety is known as the "Apostrophe" variety due to the remnant of recutting between the tops of the B and E in LIBERTY. A trace of the same recutting is also visible between the bases of those letters, and remains from a misplaced letter, probably an E, but possibly a B.<BR> At the time of his publication 40 years ago, Breen stated that just two examples were known. Today, the number of examples known is clearly higher, but not substantially higher. Harry Bass, for example, had 20 different 1795 Small Eagle half eagles in his collection, but just one of this die variety. John Dannreuther's 2006 early gold variety study gives a new rating of High R.6, reporting a total population of 12 to 15 pieces. He reported nine auction appearances from 1990 to 2005, the same number appear in this cataloger's notes on the early gold.<BR> The following roster indicates that there are approximately eight different examples, including the present specimen that is an entirely new piece to the current generation of collectors. We believe it is second finest known.<BR><B><BR>1. Mint State.</B></I> Dan Messer (8/14/1971); Harry W. Bass, Jr. Foundation. Bass Sylloge 3043.<BR><B><BR>2. AU58 NGC. The present specimen.</B></I> Our consigner suggests that it may have appeared earlier in the 1962 FUN Sale (Federal Coin Exchange), and/or in RARCOA's NASC Sale (2/1972). We have not had an opportunity to check those catalogs.<BR><B><BR>3. AU55 NGC. </B></I>Bowers and Merena (11/1999), lot 2455; Heritage (6/2000), lot 6486; Heritage (8/2001), lot 7752; Heritage (1/2002), lot 8087.<BR><B><BR>4. AU53 PCGS. </B></I>Heritage (3/2002), lot 8194.<BR><B><BR>5. EF40.</B></I> Robert W. Miller, Sr. (Goldberg Coins, 2/2002), lot 1935.<BR><B><BR>6. Net VF20 </B></I>Scratched. ANACS. Heritage (11/2003), lot 7442.<BR><B><BR>7. VG8 </B></I>ex jewelry. Bowers and Merena (1/1991), lot 1547. This and the next are two distinctly different coins.<BR><B><BR>8. VG8 </B></I>ex jewelry. Bowers and Merena (1/1999), lot 1395.<BR><BR> There is certainly the possibility of a few more appearing in the future, but an increase from two coins to eight coins in over 40 years certainly speaks of its rarity. That Harry Bass was only able to locate one example, which is held as part of the Core Collection and was not part of the Bass auctions, is possibly even more telling.<BR> Considerable reflective prooflike luster remains in the protected areas with satiny surfaces and only a trace of rub on the design highpoints. Soft central details, especially on the obverse, appear to be typical of the variety. The illustration of the Bass coin in the <I>Museum Sylloge</B></I> shows similar weakness. Each side has the usual faint surface ticks that are always found on these early coins, but the overall appearance and eye appeal is exceptional.<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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