1795 Capped Bust Right Eagle. BD-1, Taraszka-1. Rarity-3+. 13 Leaves. AU-55 (PCGS). CMQ.

This is a handsome Choice AU quality 1795 eagle, a perennially popular early gold issue. Otherwise deep honey-gold surfaces are accented with subtle rose highlights. Liberty's portrait is suitably sharp for the type, and the peripheries on both sides are bold apart from some bluntness to the obverse stars and isolated portions of the border denticulation. The eagle's head, breast, legs and talons are noteworthy for the crispness of detail they possess, for many coins of this type are soft in one or more of these areas. There are no adjustment marks of note. Aesthetically pleasing and of profound historical significance, this coin comes highly recommended for an advanced numismatic cabinet. BD Die State a/a. As the first eagle struck in the United States Mint, the popularity of the 1795 with collectors knows no bounds. The Act of April 2, 1792, which established our nation's monetary system, named the ten-dollar gold eagle as the highest denomination. As specified in that Act, the weight of these early eagles is 17.50 grams (270.0 grains) standard and 247-4/8 grains pure (i.e., unalloyed metal). These specifications made the first eagles 11/12 fine, with 11 parts pure gold to one part alloy, the latter mixed with the precious metal to improve the coin's wearing qualities when used in commerce. The design of the Capped Bust Right eagle is credited to Robert Scot, first chief engraver of the United States Mint. Initially the $10 gold eagle featured a small eagle with outstretched wings perched on a branch on the reverse, although this was replaced in 1797 by a heraldic eagle motif. Small Eagle Capped Bust Right tens were produced for only two years, from September 1795 to June 1797, although three dates are represented (1795, 1796, 1797). More than half of the mintage of this type was from 1795-dated dies, most examples of which were probably struck from the variety now known as BD-1. In the 2006 reference Early U.S. Gold Coin Varieties: A Study of Die States, 1795-1834, John W. Dannreuther estimates that 225 to 325 examples of this die marriage are extant from an approximate mintage of 2,795 to 5,583 pieces. Given the ever-increasing number of advanced type collectors and early gold enthusiasts and the significance of this first year ten-dollar issue, this estimate establishes the 1795 BD-1 eagle as a scarce variety in an absolute sense. Examples are rare from a market availability standpoint, given that most spend years, if not decades, in tightly held collections. This important bidding opportunity is sure to result in strong competition between astute collectors.

PCGS# 8551. NGC ID: 25ZU.

From Heritage's CSNS Signature Auction of April 2013, lot 4541.