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

3492

1795 $5 Small Eagle MS64 NGC. Breen-6415, BD-10, R.5.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:210,000.00 USD Estimated At:1.00 - 2.00 USD
1795 $5 Small Eagle MS64 NGC. Breen-6415, BD-10, R.5.
<B>1795 $5 Small Eagle MS64 NGC.</B></I> Breen-6415, BD-10, R.5. The half eagle denomination was the first gold coin struck for the United States. The 1795 coins are divided into two major types, the Small Eagle and Large Eagle (or Heraldic Eagle) reverses. The mintage of the Small Eagle variety is recorded as 8,707 pieces. The Large Eagle Reverse half eagles dated 1795 are regardless believed to have been struck in 1798, and the <I>Guide Book</B></I> includes their mintage in the figure of 24,867 coins for 1798.<BR> The 1795 Small Eagle coins are divided into 12 varieties, BD-1 through BD-12, according to the new Bass-Dannreuther <I>Early U.S. Gold Coin Varieties,</B></I> with the Large Eagle variants comprising the three BD-13 through BD-15 entries in that reference. All of the Small Eagle variants, with the sole exception of the R.3 BD-3, are listed as at least R.5 or "rare," with some called R.7+, extremely rare, or three-five examples known. The three Large Eagle varieties are R.5, R.6, and R.9 (unique). The Small Eagle varieties are identified through various diagnostics such as the position of star points, the width and positioning of the date, the number and position of the berries on the reverse, and other die markers.<BR> It is worth remembering, in this era of "Buy your U.S. Mint products before December 31 or you can't get the 2006-dated coins," that in the early days of the U.S. Mint, die steel was a scarce commodity, and dies were mostly used <I>with complete disregard for the year stamped on them.</B></I> If coinage of a particular denomination was needed, functional dies, even if dated from previous years or with outdated styles, would again be pressed into service to fill the need. Additionally, the early Mint reported deliveries of coins <I>according to the year in which they were delivered, not according to the dates on the coins.</B></I> This is the reason why Mint Director Samuel Moore in 1834 created an instant rarity when he ordered silver dollars to be struck dated 1804, for diplomatic purposes, from a leftover unused die of that year--but the 19,570 silver dollars reported from 1804 were likely dated 1803!<BR> Even though the BD-10 variant is listed in Bass-Dannreuther as an R.5 or "very rare" coin, it must be remembered that that figure is <I>within the context of the series,</B></I> long considered one of the most difficult in U.S. numismatics. The BD reference estimates a mintage for this variety of 750-1,250 pieces, with the total mintage for the date estimated at 8,707 to 12,106 coins. Star 1 is left of the curl, but touching it, rather than beneath. Star 10 points to and nearly touches the cap. The 1 in the date is barely free of the hair, and the flag of the 5 lies over the drapery. On the reverse, the rightmost (facing) leaf pair shows a stubby, short second leaf. There are four berries in the wreath, two inside and two outside, with the inner right berry small and low. The D in UNITED and the second T in STATES show obvious recutting.<BR> Light adjustment marks show in the center obverse, visible with a loupe. The stars and obverse center are fully struck, but some softness shows on the central reverse. A light reverse die crack is noted from the rim to the last A, through the stem, and into the field. The coin is decidedly prooflike, with brilliantly mirrored fields and thickly frosted devices, and beautiful orange-gold coloration. Light field chatter limits a Gem grade.<BR> The current NGC <I>Census Report</B></I> lists 196 nonprooflike examples of the 1795 Small Eagle coinage, without regard to variety, in all grades, and another seven pieces with Prooflike surfaces. Of those 203 coins, only three pieces are certified MS64, with seven finer. Of the specimens certified Prooflike, this is the only MS64 piece, with a single MS65 finer, again irrespective of rarity. Among the finest, and nearly unimprovable.<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
Sign In to Bookmark Lot