Capped Bust Right Eagle
1797 Capped Bust Right Eagle. Small Eagle. BD-1, Taraszka-7. Rarity-5. AU-55 (PCGS).
A visually impressive and historic survivor from this prized Small Eagle issue. The strike is well centered with particularly sharp detail to Liberty's lower hair curls and the eagle's wing feathers. The pale sandy-gold shades that dominate the obverse are complemented by vibrant regions of honey and violet toning on the reverse. Only lightly circulated and overall smooth, with satiny Mint luster glowing from the protected areas. The characteristic cracks at star 16 are sharp, accompanied a pair of rectangular indentations caused by striking through debris on the die. Previously featured in our 1970 sale of the Seeman Estate and then in our 1973 auction of the Scanlon Collection, we are thrilled to now bring this piece back to market after nearly 50 years. A remarkable offering at the Choice AU level, this piece is tied with the fabulous Taraszka specimen sold in our August 2019 sale. Only 7 coins have been certified finer by PCGS. The mintage for the 1797 Small Eagle provided in most numismatic references is 3,615 coins, based on Walter Breen's 1988 assertion that the 3,615 eagles delivered from March 25 through May 2, 1797, were of this issue. Based on a more exhaustive study of die states, emission sequences, and coins extant, John W. Dannreuther provides an estimated mintage of 1,250 to 3,615 coins for the 1797 Small Eagle in his 2006 reference. The 1797 is the scarcest date in the Capped Bust Right, Small Eagle ten-dollar gold series of 1795 to 1797. At least one 1796 is known to have been struck after all known 1797 Small Eagle coins, a conclusion based on the presence of a reverse die crack from the border through the right side of the letter O in OF to the wreath. Whether a remarriage for the 1797 Small Eagle is also known is pending discovery of an example of this date with that reverse die crack. A highlight of the present sale, this lovely and scarce early eagle is sure to find its way into a highly regarded numismatic cabinet.
PCGS# 8555. NGC ID: BFYN.
PCGS Population: 7; 7 finer.
From the Naples Bay Collection. Earlier ex our (Stack's) sale of the J. Stanley Seeman Estate, February 1970, lot 864; our (Stack's) sale of the George F. Scanlon Collection, October 1973, lot 2445.
Estimate: $100000