Stunning and Vivid 1799 Eagle
Popular BD-10, Large Obverse Stars Variety
1799 Capped Bust Right Eagle. BD-10, Taraszka-22. Rarity-3. Large Obverse Stars. MS-64 (NGC).
A captivating example with much to recommend it to high grade type collectors and discerning early gold enthusiasts. This is an uncommonly well produced coin by early U.S. Mint standards, both sides well centered in strike with most design elements sharply to fully rendered. Softness is minimal, hardly detracting, and most pronounced at the second cloud from the viewer's right on the reverse and at the two highest stars on that side. Exceptionally bright and vivid, the surfaces are bathed in light golden-yellow color. Softly frosted luster characterizes the finish, the luster quality outstanding in an example of this challenging early gold type. Superior to most Mint State survivors from this die pairing that we have handled over the years, and sure to fetch a strong bid commensurate with its desirability. BD Die State a/a. The year 1799 proved to be an eventful year in our nation's history. Two famed patriots, George Washington and Patrick Henry, died and were widely mourned across the nation. In Cabarrus County, North Carolina, a young Conrad John Reed found a shiny and very heavy yellow rock that turned out to be a gold nugget weighing 17 pounds, consequently igniting the first gold rush in the United States. Gold from the Southern states would in time form the principle source of this metal to the Mint until the vast discoveries in California in 1849. In 1799, the production of the ten-dollar gold eagle was stepped up to significant levels after having been struck in modest quantities since its inception. According to Mint records, 37,449 coins were struck in two major obverse design varieties, Small Stars and Large Stars. A total of six obverse and six reverse dies were employed in a total of ten die combinations: eight die pairings for the Small Stars variety and only two pairings for the Large Stars. Of the two major varieties of the 1799 eagle, the Small Stars type is widely thought to have been the first struck and is the slightly scarcer of the two, albeit not by much. At some point the Small Stars punch with long and thin points broke and a new punch was prepared with starts that shorter but much "fatter and puffier," as Garrett and Guth note. The resultant obverse die, Bass-Dannreuther Die 6, was mated to two reverse dies Bass-Dannreuther Die E and Die F, and used for the remainder of the year, producing an estimated 13,000 to 18,000 coins from these two pairs. The BD-10 reverse die can be easily distinguished from the BD-9 reverse die by the location of the lowest berry with relation to the last A in AMERICA. On the BD-10 reverse die (Die F), this berry is located directly under the right foot of the A, whereas on Die E used on the BD-9 pairing this berry is past the right foot of the A. A less obvious but no less important diagnostic is the location of the lowest left star in regards to the eagle's beak - only on Die F are both the upper and lower beak points touching the star, on Die E, the star is free of the beak. Die F was later used for the only known 1800 die pair and one in 1801. Thanks to its comparatively generous mintage figure, the 1799 Large Stars eagle is one of the most available of the early eagles for today's numismatists. Roughly 800 to 900 eagles of both varieties are thought to be extant. The BD-10 die marriage is by far the most available of the Large Stars coins with somewhere between 300 and 400 survivors, making it the most frequently seen of the 1799 eagles. Because of its overall availability, the 1799 Large Stars eagle has long been popular as a type coin for the design as well as for year collectors desirous of just one specimen. Harry W. Bass, Jr. on the other hand was an enthusiastic collector of the issue and amassed an impressive collection of 21 specimens for his cabinet, including two examples of the BD-10 variety. Despite the denomination's very high purchasing power in its day, a small number in Mint State are known, primarily at the lower end of the spectrum. There are a few Choice Mint State specimens recorded, though the number of grading events is likely to be inflated somewhat due to resubmissions. Above the Choice level, as with many of the early gold issues, the 1799 eagle is a significant condition rarity with only a few that can lay claim as Gem. Representing the finest realistically obtainable for the type by most of today's discerning gold collectors, our offering of this beautiful coin represents a fleeting bidding opportunity not to be missed.
PCGS# 8562. NGC ID: 2623.
From the Cold Spring Harbor Type Set.