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

3256

1801 $10 MS64 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:24,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1801 $10 MS64 NGC
<B>1801 $10 MS64 NGC.</B></I> Breen-6843, Taraszka-25, BD-2, R.2. Sometimes coin collectors can know too much. A case in point is the present 1801 BD-2 eagle. From an estimated mintage of 44,000 coins for the date and 30,000 to 40,000 examples of this variety according to Bass-Dannreuther, the authors of that reference determine that this die marriage deserves an R.2 rarity rating, meaning that 600 to 800 pieces are known in all grades.<BR> Seasoned numismatists are used to thinking in terms of the modified Sheldon rarity scale, where R.5 is "rare," R.4 is "very scarce," R.3 is "scarce," R.2 is "not so common," and R.1 is "common." Based on the R.2 rarity rating for the 1801 eagle, just exactly rare--or common--is that? <BR> An R.2 rarity rating works out to <I>only one coin per every 433,602 U.S. residents. </B></I>If we assume that there are 100 million coin collectors in America (a popular estimate of the total number from the most casual hoarder to the most advanced numismatist, a number that the Statehood quarters program has definitely aided), we still arrive at a situation where only one U.S. collector in every 144,534 would be able to buy an 1801 eagle with an R.2 rating. <BR> And we have yet to factor in <I>condition! </B></I>According to the current combined NGC/PCGS population data and disregarding possible (or likely!) duplications, we see that there are 67 1801 eagles in MS64 or finer. Going back to our estimate of 100 million collectors, only about one in every 1.5 million or so could buy such a "not so common" coin in top condition.<BR> Suffice it to say that this piece is a <I>condition rarity of the first rank.</B></I> Considerable amounts of mint luster appear on both sides--something one seldom sees to such a degree on early U.S. gold from the late 18th or early 19th centuries--and considerable prooflikeness is seen on both sides, but more so on the reverse. Some light field haze is noted, likely preventing a Gem grade but not much diminishing the eye appeal or our enthusiasm for the piece. <BR> The precise variety is identified by the two star tips near the rear of Liberty's cap, large obverse stars, and star 13 almost touching the bust. On the reverse, the upper beak nearly touches the star just below its point. The late die state is marked by the series of spines that appear on Liberty's cap--clash marks from the stripes in the reverse shield. Some light adjustment marks are noted through the clouds and stars on the reverse, and a couple of small scrapes are noted between the eagle's right claw and the last A in AMERICA. <BR> Although considered fairly "common" by some measures, this piece will surely incite some passion on the part of the seasoned numismatists who regularly bid in our auctions. Expect the bidding to be uncommon!<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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