Historic First Year 1795 Eagle

1795 Capped Bust Right Eagle. BD-1, Taraszka-1. Rarity-3+. 13 Leaves. AU Details--Repaired, Whizzed (NCS).

Offered is a more affordable example of this classic early U.S. Mint gold issue. It is overall sharply defined with plenty of full striking detail remaining in the more protected areas of the design. Wear is minimal and confined to isolated high points, while the surfaces show no sizeable marks or other blemishes. Honey-gold retoning is seen throughout. Both sides display a curiously glossy texture with evidence of smoothing in the fields that also help to explain the NCS qualifiers. The large and impressive gold eagle served as the benchmark gold denomination for the fledgling United States' monetary system. Thirty three millimeters in diameter, the first eagles struck at the Philadelphia Mint are visually striking. Designed by Robert Scot, the Small Eagle reverse type was only used for three years and was replaced in 1797 by the Heraldic Eagle reverse. The mintage of 1795-dated examples is subject to debate; the number of eagles delivered during calendar year 1795 is recorded as 5,583 pieces, but this does not include the likelihood that a significant quantity of 1795-dated coins were also made in 1796. While this is the mintage figure that is generally reported for the date, detailed studies by John Dannreuther indicate that the actual mintage for all 1795-dated eagles is probably between 5,859 and 10,915 coins. Four of the five die marriages used bear a reverse that has 13 leaves on the palm frond held in the eagle's talons. The BD-1 die pair, as here, is characterized by having the obverse die where the tip of the digit 5 in the date overlays the bottom of the bust, while on the reverse the eighth palm leaf is close to the letter U in UNITED. Dannreuther estimates that somewhere between 2,795 and 5,583 eagles were struck from this die pairing. With about 325 coins believed extant in all grades, BD-1 is the most available variety of the issue and enjoys strong demand from type collectors at all levels of preservation.

PCGS# 8551.