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

3633

1801 $10 MS63 NGC. Breen-6843, Taraszka-25, BD-2, R.2.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:32,500.00 USD Estimated At:1.00 - 2.00 USD
1801 $10 MS63 NGC. Breen-6843, Taraszka-25, BD-2, R.2.
<B>1801 $10 MS63 NGC.</B></I> Breen-6843, Taraszka-25, BD-2, R.2. The <I>Guide Book</B></I> reports a mintage of 44,344 pieces for the 1801. What the <I>Guide Book</B></I> omits is that most of this production was exported overseas, where gold was valued more highly relative to silver. Soon after their arrival at a foreign port, the pieces were melted down to recoin in local currency. This trend of small domestic mintages and heavy melting was a direct consequence of an incorrect gold to silver ratio in the United States, and continued until 1834, when the dollar was finally devalued relative to gold. By that time, it was too late to save most early eagles, and among those that had escaped export, many had been put to use in jewelry, or otherwise mishandled. Thus, the present piece is rare in three different ways: it is from a low mintage, it has a low survival rate, and it is a condition rarity. The 1799 and 1801 are the two most available dates of the Heraldic Eagle type, but Select Mint State examples are under enormous demand from early gold type collectors. In addition, the pieces are scarcer in Uncirculated grades than the third party population data suggests, since over the past twenty years, many coins have been repeatedly submitted in the hopes of receiving a higher grade. The current lot is an intricately impressed and thoroughly lustrous representative of this desirable early gold type. The radiant sun-gold surfaces are pleasing for the MS63 level. Adjustment marks are limited to stars 9 through 11 on the obverse margin. Refreshingly void of abrasions, other than a minor reverse rim mark at 8:30. Census: 37 in 63, 32 finer (10/06).<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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