The Harry W. Bass, Jr. Collection — Part III

Session Two

Friday Afternoon, May 26, 1:00 PM Sharp

Eagles: Lots 558-755

Territorial Gold Coin: 756

The selection of eagles or $10 pieces in the Harry W. Bass, Jr. Collection will again surprise and delight the most advanced specialist, while affording perhaps a not fully appreciated opportunity to the beginning numismatist. The combination of high quality and in many instances extreme rarity creates opportunities that have few counterparts in our generation apart from the Bass sales. Accordingly, we invite you to peruse the listings carefully, noting the commentaries in each instance. It may well be the case that certain pieces will not reappear on the market for many years.

The offering commences with the first year of issue, 1795, and the first die variety of that year. From this point the listing continues through 1796, 1797, the exceedingly rare 1798/7, and onward to 1801. These early eagles, each produced from hand-cut dies and with many fascinating differences, form an interesting specialty in themselves. Harry W. Bass, Jr., found them to be delightful. Many of his findings and notes will be shared with numismatists when the sylloge, or museum catalogue of early gold is published by the Harry W. Bass, Jr. Research Foundation.

Production of the eagle continued until 1804, after which the denomination was suspended, for it was felt that the greater part of the coinage was exported—resulting in little utility to citizens of the United States. At the time, the Mint levied a service charge for minting silver coins and gold coins from these precious metals, but it was thought that the smaller denominations—the quarter eagle and half eagle—would not be as useful in international trade. Wrong! The half eagle assumed the mantle of the largest gold coin of the realm, and during ensuing decades, particularly in the period from about 1820 to 1834, the vast majority of newly struck pieces went overseas.

In 1838 the $10 denomination was again coined. The design was the familiar Coronet Head motif by Christian Gobrecht this being its first appearance on any gold coin (the motif was first used on the quarter eagle in 1840 and on the half eagle in 1839). The term Coronet Head comes from Kenneth E. Bressett in A Guide Book of United States Coins, as he felt that the traditional term—used for generations of numismatists— Liberty Head, could refer to any head of Miss Liberty, whereas this particular head had a tiara or coronet. Today in 2000, we try to prefer the Coronet Head term, but often lapse into use of the traditional Liberty Head.

From 1838 onward, coinage was continuous at the Philadelphia Mint, although in some years the production was very small. In time, pieces were struck in New Orleans, San Francisco, Carson City, and, finally, in Denver.

Eagles of the Coronet Head type can be divided into three primary groups with regard to their method of circulation:

The early issues, from 1838 through 1861, were widely used in American commerce, from one coast to the other. Until the double eagle made its appearance (in 1850) the $10 coin was the largest gold denomination. Thus, it was particularly useful for transfers of large amounts of money. Today, the typical coin from this period is apt to be in Very Fine, occasionally Extremely Fine, and only rarely AU. Harry W. Bass, Jr. spent many years tracking down choice and interesting eagles, with the result that in the pages to follow there are many truly exceptional pieces.

The second period commenced in late December 1861, and lasted until December 17, 1878, during which time gold coins in the East and Midwest sold at a premium in terms of paper money and silver coins. At one time in 1864, it took well over $200 in paper money to buy $100 worth of gold coins. Such pieces continued to be produced in Philadelphia, but were available only when a premium was paid for them to the Treasury Department. This resulted in considerable profit to the Department, an accounting of which is related in Dave Bowers’ book, The Treasure Ship S.S. Brother Jonathan. Suffice it to say, the profit amounted to many millions of dollars. At the same time, on the West Coast gold coins continued to circulate, and paper money was nowhere in sight. Thus, the visitor to San Francisco in the 1860s would find gold to be commonplace. Paper money brought from the East traded only at a deep discount, inverse to the premium charged on gold coins in the East. The San Francisco Mint began operations in 1854, and eagles were produced for many years thereafter. Such pieces went into circulation at face value and were used extensively in commerce, with the result that the typical San Francisco coin encountered today is apt to be well worn, Very Fine being about par. At the same time, coins minted during the 1860s in Philadelphia tended to be preserved in higher grades, as they were held in storage.

The third period of eagle distribution began in late December 1878 and continued until the end of the Coronet Head series in 1907. Such coins were made in relatively large quantities and unlike their predecessors, quite a few were shipped overseas to foreign banks. Thus, after this period, coins are generally available in higher grades such as EF, AU, and even Mint State, although a number of varieties are quite scarce in the last mentioned preservation. The international coin of choice at the time was the double eagle, and thus eagles played only a minor part. However, enough of them went overseas and stayed there, that after World War II holdings in banks in Switzerland, France, and elsewhere were tapped to bring forth numbers of certain varieties, most from around the turn of the 20th century.

Numismatically, eagles have an interesting collecting history. For several generations the early issues dated 1795-1804 have been very popular. Indeed, such coins have been listed in auctions in the cradle days of the hobby in the 1850s. Because of this, fair numbers of them were preserved in such grades as EF and AU, as pieces brought by citizens into bullion exchanges were apt to be saved and sold to collectors. Not so with Coronet Head eagles. There was virtually no interest in them at all. Issues that are highly prized today such as New Orleans coins from the 1840s, San Francisco coins from the 1850s and 1860s, and just about everything else from the 19th century, were completely ignored in their own time—the only exception being a limited number of Proofs that were acquired by numismatists filling in year sets. In 1893 when Augustus G. Heaton wrote his Mint Marks monograph, he was not aware of a single person who collected New Orleans, San Francisco, or Carson City eagles. What a shame, for otherwise many pieces would have been saved.

Collecting Coronet eagles became popular in a significant way in the late 1930s, at which time the auction sales of B. Max Mehl, Stack’s, J.C. Morgenthau, Thomas L. Elder, M.H. Bolender, Barney Bluestone, and a few others, began to see fair bidding action on such pieces. Still, prices remained low, even for scarce issues. The great stride forward came circa 1943-1946, when several important collections coming on the market—the cabinets of Bell, Hall, Roach, and Boyd among them—created a great deal of interest. Nothing stimulates a branch of the hobby more than an offering of a carefully gathered numismatic cabinet—witness the recent offerings of the Bass Collection.

By 1946, Coronet Head eagles were widely collected and eagerly sought. Following a market slump 1947-1951, prices again rose, more or less steadily, as additional numismatists joined the specialty. The writings of Walter Breen, beginning in the 1950s, did much to stimulate interest, as did additional auction offerings.

Today in the year 2000, eagles play to a wide audience. The early 1795-1804 issues have always been popular, while, as noted, the Coronet pieces have been popular since the 1930s, and, especially since the mid 1940s. Today a popularity survey of coin denominations would probably find fewer people collecting $10 pieces than any other of the primary denominations. While no study has ever been made, probably most adherents collect gold dollars, while others collect some or all $2.50, and $3 pieces, plus side specialties of Charlotte and Dahlonega coins of all denominations. Among the values from $5 to $20, the large and impressive double eagles, are the easy winners, simply because there are more of them in existence. Regarding eagles, there definitely is a supply problem. Even the most available eagle of the early Coronet Head years is scarce to rare in absolute terms.

Harry W. Bass, Jr., enjoyed his collection of eagles, and in the course of collecting them made many observations. To these we have added our own comments, spicing the catalogue here and there with notes concerning dies and die states. For additional information that is useful for all of the gold denominations of the present catalogue, Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins, published in 1988, is highly recommended. The timeless works of David W. Akers are also building blocks in the foundation of any serious library on American gold, as are the several monographs by Douglas Winter. Regarding $10 pieces in particular, a really great reference book, by Anthony J. Taraszka, United States Ten Dollar Gold Eagles 1795-1834 was recently published. If interested, write him at P.O. Box 2548, Portage, MI 49081. The press run was rather limited—in the hundreds of copies—and we would not be surprised if these sell out sometime soon.

The following descriptions are by Mark Borckardt (early issues) and Frank Van Valen (later), with editing by Q. David Bowers.

Lovely Mint State 1795 Eagle

Enlarge Enlarge

558     1795 Breen-6830, Breen-1A, Taraszka-1. 13 Leaves. MS-60. Fully prooflike with outstanding detail and lovely greenish gold lustre. A few minor hairlines are indicative of cleaning at some past time. This is the very first variety of eagle struck in 1795, truly one of our nation’s very first gold coins.

The first coinage delivery of eagles was recorded on September 22, 1795, and probably consisted of this variety, a comment based on a comparison of delivery warrants and current estimated rarity.

The workmanship on this die pair is of a high order of excellence, with well formed dentils, nicely aligned stars, etc., lacking the haste or inexperience shown on certain very early half eagles. Presumably the $10 was the showcase, and special care was paid to it.

Under extremely high magnification a very delicate die crack can be seen extending from the bases of 179 in the date, left through the first 9 stars, then irregularly to the border. This is so delicate that it is unlikely that anything short of an AU or Mint State specimen would reveal the characteristic.

Purchased from RARCOA, February 1, 1795.

Prooflike 1796 Eagle

Enlarge

559     1796 Breen-6832, Breen-1A, Taraszka-6. Rarity-4. MS-62 (PCGS). This wonderful coin is highly lustrous with rich greenish gold prooflike surfaces. Slightly weak at the central designs, as often seen among coins of this design. A few light hairlines and small abrasions are noted, including a small patch of marks on Liberty’s cheek. Only this single variety of 1796 eagle is known, with less than 20 Mint State examples identified today, most just MS-60.

This is the second year of issue for the denomination, with the Small Eagle reverse design by Robert Scot. From 1795 through early 1797, just 13,344 eagles were struck, distributed through seven die varieties. Five varieties were produced with the 1795 date, and one each of 1796 and 1797. With an average mintage of under 2,000 coins per die variety, all of these are quite rare. Today, we estimate a total population of approximately 700 Small Eagle reverse eagles of all varieties.

PCGS Population: 2; 1 finer (MS-63).

Numerous raised die finish lines are visible on the obverse, especially across the portrait. A vertical obverse interior die crack crosses the bust, beginning at the lower edge of drapery above right side of 9, extending upward through hair curls and behind Liberty’s ear, exiting the cap below E; this break is quite unusual as it is on the interior of the coin and does not extend to the borders. Light clash marks are visible along with evidence of die lapping or polishing.

From Paramount’s sale of the Davies and Niewoehner Collections, February 1975, Lot 605.

Desirable 1797 Eagle

Heraldic Eagle


Enlarge Enlarge

560     1797 Breen-6834, B-2B, T-8. Rarity-4. Heraldic Eagle. AU-55 (PCGS). Reflective greenish gold with minor surface marks. Sharply struck and quite attractive. The reverse has deeper prooflike surface and fewer marks than the obverse. The Heraldic Eagle design, eventually common to all denominations from half dime to eagle, was Robert Scot’s revision of his own earlier design. Three die varieties of 1797 Heraldic Eagle $10 gold coins exist, with this Breen-2B die combination slightly more available than the others. Approximately 300 to 350 coins exist, combining the populations of all three die marriages.

Obverse die cracked from base to left serif of 7, with a parallel crack only a millimeter away. The reverse has a short crack from the border at 2:00 to wing tip and another from border to cloud between S and O. A minor die bulge is visible among stars right of the eagle’s head. The editor (QDB) would like to add to Mark Borckardt’s cataloguing by proposing a system of die identification useful for all Heraldic Eagle denominations: for starters the position of the orientation of the star immediately to the left of the eagle’s head and its relationship to the letters in PLURIBUS, and the star immediately to the right of the eagle’s head and its relationship to the letters UNUM. Then after that time, such other features as the position of the lowest left arrow in the bundle of arrows, the number of berries and their position in the branch, certain branch figures and their relation to the letters in AMERICA, could be delineated. However, the position of these stars would give a quick jump forward. On the present variety, the star over the second U in PLURIBUS points to the upright of the U. The star over the second U in UNUM points to the left of the letter U. It is the writer’s observation that many varieties in the silver and gold series can be completely defined by using the star points, and for all others the star points are a very good beginning. Anyone interested is invited to utilize the arrangement, of course.

From Abner Kreisberg’s sale of the John Beck Collection, Part I, January 1975, Lot 494.

Famous 1798/7 Eagle Rarity

9X4 Stars

Enlarge Enlarge

561     1798/7 Breen-6836, B-1A, T-9. Rarity-4+. Overdate, 9X4 Stars. MS-61 (PCGS). An exceptional example of this famous rarity, one of the very finest known—a fantastic coin today just as it would have been if offered at auction a century ago. Indeed, here is a timeless classic.

The Bass Collection coin exhibits moderately reflective satin lustre with a hint of green. A few abrasions are noted, consistent with the grade, but none are serious. The present coin is one of the very finest examples we have ever handled, and is Condition Census. Similar in quality to an example in our August 1999 Rarities Sale, the present coin is the only Mint State piece of this variety certified by PCGS.

In his day, Walter Breen estimated that only 18 to 20 examples were known, but we suggest that the availability is considerably more, perhaps as many as 100 to 120. However, of that number, the present piece stands high in the lineup for quality.

Interestingly, this die marriage and another variety of 1798 overdate with stars arranged seven left and six right were both struck after the first 1797 Heraldic Eagle variety pieces.

PCGS Population: 1; none finer.

A die crack from the border at 12:00 passes through L and continues through the cap and into the hair curls. A very faint die crack joins the tops of UNITED. Although the present catalogue is not the forum for a Easy Finding Guide to Heraldic Eagle Coinage, we note in the present instance that the star to the left of the eagle’s head has a ray pointing to the upright of B (PLURIBUS) and the star immediately to the right of the eagle’s head has a ray pointing to the left upright of the second u (UNUM).

Purchased from RARCOA, February 1, 1975.

Lovely 1799 Small Stars $10

Condition Census

Enlarge

562     1799 Breen-6838, B-3B, T-18. Rarity-6. Small Stars. AU-58 (PCGS). Brilliant and frosty yellow gold with a few very minor surface marks on obverse and reverse. Faint orange patina is visible. Slight weakness is noted on the obverse, with all reverse design details sharp.

Just four or five Mint State examples are known, with another four or five AU coins. This example is probably among the top six known for this variety. Eagles of 1799 have the second highest mintage of all early eagles with 37,449 coins struck. With 10 die marriages known, this date also has the highest variety count. Of these, only two are considered readily available. Approximately 600 examples survive (300 each) of the two common die marriages, with under 200 coins (total) from the other eight varieties.

The obverse has several die cracks: A very faint crack from the inner point of star 3 angles down to the curls opposite star 2. A sharp, irregular crack from the border at 11:00 passes through two upper points of star 8 to the back edge of Liberty’s cap. A lumpy crack passes through the upright of L. Another joins the tops of LIBERTY with stars 9, 10, and 11. The reverse has a short die defect under the right arm of T in UNITED. Clouds below STATES are incomplete, diagnostic for this reverse die. A short die line from the left inside foot of first A in AMERICA joins the right scroll end.

From Lester Merkin’s sale of October 1969, Lot 451.

Mint State 1799 Eagle

Imperfect Date Obverse

Enlarge

563     1799 Breen-6840, B-4E (same as reverse B), T-19. Rarity-3. Small Stars. MS-61 (PCGS). Reflective light greenish gold with some surface marks consistent with the grade. Sharply struck and very attractive.

This variety has been variably attributed as Breen-4B or Breen-4E. When he prepared his monograph in the 1960s, Walter Breen described two different reverse dies, which are now recognized as the same. Note the die line under the right arm of T in UNITED which is the same on this coin and on the B-3B example also in the present sale. The distinctive date placement gives rise to the Imperfect Date name, with the digit 1 distant from the hair curl and digit 9 very close to the drapery.

The obverse has a crack from border to left top of E in LIBERTY. Another crack joins TY and stars 9, 10, and 11. The reverse has moderate clash marks and minor rust pits. The stars below STATES are incomplete, as on the B-3B variety here offered.

From RARCOA’s 1970 ANA Sale, Lot 1548.

Important 1799 Large Stars $10

Breen-5F, Rarity-6

Condition Census

Enlarge

564     1799 Breen-6841, B-5F, T-21. Rarity-6. Large Stars. AU-58 (PCGS). Fully reflective light yellow gold with a few minor surface marks consistent with the grade.

Two varieties of Large Stars eagles of this date are known. The more available 5-G variety is known to the extent of several hundred coins, including quite a few Mint State examples. The much rarer 5-F variety is another story entirely, as only a handful of coins are known, with the present example among the top three or four known.

Perfect obverse from the standpoint of cracks; top of second 9 shows delicate repunching (which may not be visible on lower grade coins). On the obverse, stars 7 and 8 are misaligned, as illustrated; stars 12 and 13 are somewhat misaligned, and the same can be said for a few other star pairs. Few minor reverse die lines are visible, including a patch of semicircular die lines among the vertical shield lines.

From Superior’s 1975 ANA sale, Lot 1535.

Rare 1801 Breen-1A $10

Condition Census

Enlarge

565     1801 Breen-6843, B-1A, T-24. Rarity-5. MS-61 (PCGS). Fully reflective bright yellow gold surfaces with a few minor surface marks consistent with the grade. Two die varieties of 1801 eagles are known. Breen-2B, the other variety, is known to the extent of several hundred coins and is the single most plentiful issue of any variety in the series from 1795 to 1804. The presently offered Breen-1A variety is very rare, with not more than a few dozen examples known in all grades. The Bass specimen is one of the top five or six finest known. This Breen-1A die combination shares a reverse die with 1800 eagles, and was struck before late die states of the 1800-dated coins.

The obverse has a faint crack from star 3, arcing across the bust and neck, continuing to star 13. Another crack from the border passes between 01 to the drapery line.

As Anthony Taraszka has pointed out in his excellent book, early eagles 1795-1804 offer a realistic possibility to the specialist. There are no major star arrangement varieties or any other cynosures that are unique and in museums (whereas in the half eagle series there are two unique major varieties in the Smithsonian). As is true of so many areas in United States coins, to know a series is to love it—and some time spent studying the illustrations in this catalogue and the peculiarities of the arrangements of the elements on the dies will impart an interest where none may exist now. From that point it is but a small step to bidding on the lots offered in the Bass Collection sales with the realization that such opportunities may not repeat themselves for a long time, if ever.

Purchased from Sid Smith, April 16, 1971

Lustrous 1838 Coronet $10

First Liberty Head Issue

Condition Census

Enlarge

566     1838 Type I. First Head, Large Letters. AU-55 (PCGS). Lustrous yellow gold with some prooflike reflectivity in the recessed areas. Myriad tiny surfaces ticks can be seen on both sides. Still a reasonably attractive specimen of this important Type I eagle issue, a design that lasted until early 1839 at which time it was modified. Always popular for its distinctive obverse style and as the first year of Christian Gobrecht’s design type (which went mostly unchanged save for tiny modifications until 1907).

From a small mintage of 7,200 business strikes, and a date that Walter Breen called "Prohibitively rare above EF." Some 12 years after the appearance of Breen’s Encyclopedia, that statement still rings true. This rarity represents the first coinage of the denomination since 1804. Specimens of the date are always in strong demand.

PCGS Population: 2; 5 finer (MS-63 finest).

Breen-6849. First Head, Large Letters.

The obverse style is of the so-called "First Head" which for 1838 and part of 1839 was differently positioned than on later issues (1839-1907). The portrait of Miss Liberty is tilted noticeably forward, and the front of the neck truncation is above the 18 of the date. The right side of the truncation curls markedly above and slightly to the right of the final star, with that star within the sweep of the curving shoulder line of the truncation.

Purchased from the Goliad Corporation, October 31, 1972.

567     1839 Type I. Head of 1838, Large Letters, Normal Date. VF-35. Yellow gold with a trace of olive. Some scattered marks and faint scratches are noted. The so-called normal date variety; actually a late state of the overdate die (Breen-6850), details of the 8 now all but obliterated from continued die use (see below).

Breen-6851.

Late reverse die state, with several die cracks. The first bisects the reverse vertically, running from the rim above the first T in STATES, through that letter and across the field, then through the eagle’s beak and across the upper left corner of the shield and claws, then through the E of TEN to the border. Another crack runs from the border through the top of O in OF, through the F, then across the wing and into the field below AM. Another crack runs from the top of M through the middle of E, then through the bottoms of RICA to the D of the denomination. Yet another crack runs from the rim above the N in UNITED, then through the U of that word, crossing the vertically bisecting crack (an unusual occurrence in numismatics), and then terminating at the lowest arrow feather.

So far as we are able to determine at this point in our research, all 1839 eagles of the Type I design are from the identical die used in 1838, now overdated. The nomenclature "Large Letters" and "Small Letters" as a sign to the Type I and Type II heads of this year should be completely discarded—as not even a rocket scientist can tell any difference in the letter sizes. The "Head of 1838" (as offered here) and the modified "Head of 1840" (as offered in the next lot) provide simple and satisfactory descriptions.

From Abe Kosoff’s sale of February 1969, Lot 1384.

Lustrous 1839 Eagle

Type II Head Style

Condition Census Candidate

Enlarge

568     1839 Type II, Head of 1840, Small Letters. AU-53 (PCGS). Lustrous medium gold with a hint of orange. Somewhat prooflike in the recessed areas. From the modified or "Type II" design type (see below). From a business strike mintage for the date of 12,447 pieces, although the date is considerably scarcer than the small mintage figure implies, especially above VF or so. "Usually in low grades, prohibitively rare in AU," noted Walter Breen. A coin that approaches (or attains) Condition Census honors for the date.

PCGS Population: 4; 4 finer (MS-63 finest).

Breen-6852.

The Type II issues of 1839 feature a modified portrait of Liberty. Her bust is now more upright and stockier in appearance, and the final obverse star is above and to the right of the back point of Liberty’s truncation (on the Type I coins, that star is below and to the left of the point of the shoulder). Other subtle differences can be deduced with casual study.

Obverse with tall 1 in date, 8 slightly shorter but on the same baseline, 3 noticeably higher, 9 on same baseline as 1 and 8. Left edge of lowest serif of 1 over space between dentils. The 1 is further from the 8 than the 3 is from the 9, the 8 and 3 are closest. Several stars show die artifacts at their points. Prominent "points" or lines extend into the field from the front of the 1 and the back of the 9 in the date. Other prominent die lines run from lower left to upper right below the date, with other faint die finish lines running lower right to upper left among the date numerals. A die crack connects the first three stars before jutting to the rim over the fourth star, and from there back through the fifth star and connecting all the stars up to the ninth before jutting to the rim above the 10th star. Other short cracks are noted between the rim and the final three stars. A faint diagonal die line connects the I and B of LIBERTY, and another short die line connects the bottom of the T in LIBERTY to the hair immediately below. The reverse is free of cracks or other notable hallmarks.

The 1839 is the last year of the Coronet Head eagle in which the date was entered individually with single-digit numeral punches.

From Stack’s sale of August 1971, Lot 2302.

569     1840 AU-50. Lustrous yellow gold with a trace of pale orange toning. Some reflectivity around the devices. A scattering of small marks is noted for accuracy. A very scarce date in proportion to its mintage of 47,338 business strikes, particularly in AU or finer, those grades called "prohibitively rare" by Walter Breen.

The obverse portrait of Liberty is slightly different from the head of 1838 and also different from the modified head of 1839, the present style having the coronet tip slightly more distant from star 6 than on the modified styles (July-December 1839). The differences are small yet distinctly noticeable when pieces are laid side by side.

Small date. Numerals from a four-digit punch, widely but evenly spaced, but of a regular vertical alignment (8 low, 0 high). From this point through the end of the Coronet Head series, four-digit logotypes were usually employed, but in some instances three-digit logotypes were employed with the fourth digit added by hand. Raised die lump in Liberty’s curl directly below her ear.

From Arizona Stamp & Coin, May 14, 1969.

570     1840 EF-45. Lustrous orange-gold. Numerous surface marks consistent with the grade; such pieces were used extensively in commerce.

Purchased from Douglas Weaver, September 26, 1973.

571     1841 AU-55. Breen-6854. A lustrous yellow gold specimen with a whisper of olive iridescence. Typically found in VF or occasionally EF; lustrous AU or finer specimens can be considered rare.

Date logotype small, continuing the style of 1840. The following notes by the editor (QDB) are tentative in nature, as investigations are still progressing. We would be pleased to correspond with anyone making parallel inquiries. The date was punched from a four-digit logotype. The first three numerals, 184, are identical in position and alignment to those seen on the preceding date, 1840. It may be that the following scenario occurred:

In 1840 the four-digit logotype was made by punching the individual numerals 1, 8, 4, and 0 into a soft steel matrix, hardening it, and creating a four-digit logotype for the eagle coinage. Subsequently, the 0 was ground off of the four-digit logotype, and the three-digit logotype, 184, was used in 1841 by impressing in a new blank of soft steel, creating 184, to which a single 1 was added. Then the process was repeated, the matrix was hardened, and the four-digit logotype 1841 was created. This would neatly explain the identical position of the first three letters. To answer the inquiry as to whether simply a three-digit logotype was used on the working dies, with the digit 1 added separately, we need but point to the fact that all 1841 dies, including those of the New Orleans Mint, are of the same alignment, spacing, etc., indicating use of a four-digit logotype. Reverse with die crack from rim at 10:00, along the length of the eagle’s wing, across the shield, then terminating in the field above the top arrowhead.

From Lester Merkin’s sale of March 1969, Lot 394.

Interesting Group of $10 Coronet Dates

572     Grouping of Liberty eagles grading EF-40: I 1841 I 1842 Large Date I 1849 Repunched 1 I 1853-O. Faint copper spots are noted on both surfaces I 1879-S. Dark toning spots are noted on both surfaces I 1880-S Tall S I 1899-S. Each with some mint lustre remaining. A very nice group covering a wide span of years, early to late, within the Coronet Head design. (Total: 7 pieces)

Low-Mintage 1841-O $10 Rarity

First Branch Mint Eagle

Enlarge

573     1841-O Net EF-40; sharpness of AU-50 or so but noticeably brushed. Breen-6855. Some scattered marks are also present. Yellow gold with a trace of olive.

The 1841-O is at once a famous rarity of which just 2,500 were struck, and also the first branch mint coin of this denomination. We suspect that in the early 20th century the 1841-O was on the "want list" of Thomas L. Elder, circulated to bank tellers, and that various pieces were fished from bank holdings and customer deposits. The result is that a fair number were saved, amounting to a population today of perhaps 50 or 60 pieces all told. Among these, the typical grade is VF. Douglas Winter called this date "One of the true rarities from this mint, especially in higher grades." We suspect that perhaps as few as 50 or 60 are available in all grades, with VF being typical for surviving specimens. While not among the finest examples of this rarity, the present coin still represents a splendid opportunity to obtain a rarity at a competitive price.

All known 1841-O eagles were struck from a single pair of dies. The mintmark is prominent and is close to but distinctly separated from the tip of the arrow feather, which points to the upper right side of the O (at the 2:00 position for reference).

The obverse of the present specimen shows a prominent crack from the rim at 7:00, crossing the field and the point of Liberty’s bust, then across the field again to the middle of her neck. On the reverse, a diagonal die line crosses several of the "white" vertical shield stripes. Upon close inspection clash marks can be seen, outlining the profile of Miss Liberty’s face. Some subtle clash marks can be seen on the obverse as well.

Harry Bass’ notation on the accompanying ticket simply reads "Bob Roth Set."

574     1842 Small Date. AU-50. Breen-6856. Lustrous yellow gold with some reflectivity in the protected areas. Some light brush marks are noted on both sides. Struck from lightly clashed dies. Much scarcer than its Large Date counterpart.

1842 Small Date logotype for the eagle: Small date logotype, made from a four-digit punch, but not employing the 184 configuration described earlier under 1840. Instead, the entire matrix was created from scratch, punching the numerals 1, 8, 4, 2 separately. The final issue to feature the aesthetically pleasing Small Date style in use since 1840 (also employed on the smaller gold denominations).

Reverse with die crack from rim at 10:00, along the length of the eagle’s wing, across the shield, then terminating in the field above the top arrowhead. This reverse was also used in 1841.

From Superior’s sale of February 1973, Lot 628.

575     1842 Large Date. AU-50. Breen-6857. Lustrous yellow gold with a touch of pale olive. Struck from clashed dies. "Prohibitively rare AU," wrote Walter Breen regarding this date, and we heartily agree.

The Large Date logotype of this year was also used on cents and half dollars. Numerals large and about evenly spaced, date centered horizontally and vertically. Reverse from a shattered die. A crack begins at the rim at 10:00 and runs through the eagle’s wing and continues to the shoulder area where it takes a sudden dip downward, crossing the eagle’s wing and leg, then out through a talon to the field, and from there down through the E of TEN to the rim. A second crack from the rim grazes the viewer’s left base of the first A in AMERICA, then through the center of the wing to the shield where it runs along the lowest horizontal stripe until it juts downward across the left most "white" stripe, then into the wing where it connects to the first crack.

From Stack’s sale of the Copeland Collection, April 1967, Lot 1719.

Attractive Run of Coronet Head $10

576     Selection of eagles grading EF-45: I 1842 Small Date I 1843 I 1850 Large Date. Lustrous I 1851-O Hollow ring atop of second stripe in shield. (2). Lustre remaining in the protected areas I 1856-S I 1898-S. A very attractive offering of Coronet Head eagles. (Total: 7 pieces)

Eagles for the Bargain Hunter

577     Grouping of eagles with an average grade of Net EF-45; sharpness finer: I 1842 Small Date. Saltwater surfaces. Probably recovered from some treasure wreck, the details of which are not known but would be interesting to learn! I 1850 Large Date, prooflike. Very lightly cleaned—really a very decent example of this variety I 1852. Small rim nick I 1853-O. Very lightly cleaned, but not so that most people would notice I 1861. Scratches in the fields are mostly hidden by normal marks, etc.—a coin worth checking visually I 1891-CC. Lightly cleaned long ago—but quite attractive overall I 1907-D. Lightly brushed, but extremely lustrous, fairly attractive overall. A run of $10 pieces, each with some problems as noted. These pieces were acquired by Harry W. Bass, Jr. to study date logotype positions and other peculiarities. Regarding the 1842 Small Date, one might say that this piece is quite historical—and has an "added feature" rather than a "problem." (Total: 7 pieces)

Particularly Interesting Group of Eagles

578     Selection of Liberty Eagles grading EF-45, including some particularly interesting varieties: I 1842 Large Date I 1849 over dramatically repunched date, called by some "1849 over 1848," Breen-6888. Our view is that the same 1849 four-digit logotype used to produce the final date was earlier impressed into the die far too low, partially effaced, then corrected I 1850 Large Date I 1851-O. Hollow ring atop second stripe in shield; a curious feature, probably from a centering punch, which in various minute positional differences is seen on several dies of this era (some but not all are mentioned in Breen’s magisterial Encyclopedia) I 1852 I 1856-S (Normal four-digit logotype, one of two 1856 logotypes thus far identified; the second, not offered here, is the "Fallen 6" logotype with the last digit distant, low, and leaning right) I 1899-O. Each with some mint lustre remaining. (Total: 7 pieces)

Popular 1842-O Eagle

Enlarge

579     1842-O AU-50. Lustrous yellow gold with a hint of olive iridescence. Some prooflike surface is seen on both sides. Nicely struck. Readily available in VF or so, but a true rarity in AU or finer.

Date logotype nicely and evenly impressed, slightly left of center, lower left serif of 1 over center of dentil. Die artifacts are seen around several obverse stars, and raised die finish lines protrude from the rim at many of the stars as well, indicating an early emission from the die.

New reverse die, superficially similar to 1841-O, but with O mintmark slightly differently shaped, particularly regarding the interior space) and ever so slightly closer to the arrow feather. On the present impression the die crack is seen from D (UNITED) to the wing tip, continuing slightly beyond, and another crack from F (OF) to the other wing tip.

Purchased from Julian Leidman, April 3, 1973.

Another Attractive 1842-O $10

Different Reverse Die

Enlarge

580     1842-O AU-50. Lustrous honey gold. Many tiny marks can be seen under low magnification, but the overall appeal is still quite fine. Scarce in AU. Another very attractive example.

This reverse die is different from the preceding and also different from 1841-O. Although the interior of the mintmark is somewhat different in shape, the quickest visual method of differentiating the two is the distance of the mintmark from the eagle’s claw, which on the present specimen is much shorter than on the previously offered lot. The die differences of this era are fairly subtle, have not been intensively studied, and no doubt hold many surprises. Apparently, published Mint records are not complete. It was recorded that a die pair was shipped to New Orleans from Philadelphia very late in the year, October 22, 1842, but it is seen that at least two dies were used (although one could have been leftover from 1841, but not used in 1841 as it is different from the known 1841-O). Further, it stands to reason that dies would have been sent long before the end of October.

Two reverses are known for this date, a leftover reverse of 1841-O, and the present variety, struck from the reverse die shipped to New Orleans on October 22, 1842. Mintmark positioned similarly to that on the 1841-O reverse die, but rounder and wider across, the tip of the lowest arrow feather points to the top of the O (unlike the 1841-O reverse, where the tip of the lowest feather points to the 2:00 position on the side of the mintmark).

From Lester Merkin’s sale of June 1970, Lot 450.

581     1842-O EF-45. Lustrous deep honey gold with rich orange highlights. A minuscule reverse rim bruise is seen at 7:00.

Date logotype nicely and evenly impressed, slightly left of center, lower left serif of 1 over center of dentil. Die artifacts are seen around several obverse stars, and raised die finish lines protrude from the rim at many of the stars as well, indicating an early emission from the die. From the reverse die described under Lot 579, and showing the same cracks.

Purchased from Stanley Kesselman, December 18, 1970.

Group of Mintmarked Eagles

582     Grouping of eagles with some minor problems, but worthy of in-person inspection as many are of the quality normally seen on the market. Acquired by Harry Bass here and there for the purpose of studying die peculiarities: I 1842-O Large Date. Net VF-20; sharpness of VF-35, saltwater surfaces with numerous rim bumps. If someone were to engage in forensic numismatics it could be surmised that this piece was in, say, high-grade EF or low grade AU when the ship sunk, possibly placing the sinking date after, say, 1845. As is typical, no details are known concerning the circumstances of the find I 1847-O. Net VF-30; sharpness of AU-50, polished I 1851-O Net VF-25; sharpness of EF-40, whizzed. Ring at top of second vertical shield stripe I 1853-O. Net VF-30; sharpness of AU-50, cleaned I 1858-O Net VF-35; sharpness of AU-50. Lightly cleaned, but still quite attractive—and rare I 1880-CC. Net VF-30; sharpness of EF-40, scratched I 1901-S VF-35; sharpness of AU-50, cleaned. (Total: 7 pieces)

583     Group of eagles grading AU-50, each with some problems as described: I 1843. Saltwater surfaces; pre-immersion grade probably similar to the first coin in the preceding lot. Doubled date logotype I 1847. Saltwater surfaces. Probably AU when lost at sea. I 1847-O. Saltwater surfaces. Probably AU when lost at sea. With some very curious and very prominent raised ridges on the obverse including three near or at the edge at star 1, another distant from star 1 and above it, and two others in the dentils to the left of the date—a die worthy of close examination by the advanced specialist. I 1879. Cleaned I 1892-S. Obverse gouge. (Total: 5 pieces)

Bright 1843-O Eagle

Enlarge

584     1843-O AU-55. Lustrous yellow gold with bright lemon yellow reflectivity in the protected areas. A tiny reverse rim nick is noted. A fairly scarce date in AU grade, especially combining this numerical level with the eye appeal present in the coin here offered. Most 1843-O eagles are VF and EF. Nicely struck and highly attractive overall.

Breen-6862. "Very thin numerals."

The date logotype is punched lightly into the working die. The date is nicely placed horizontally and vertically, the 1 equidistant from the truncation and dentils, left edge of lower serif high over center of dentil, date numerals nicely spaced, 4 noticeably lower at bottom than other numerals. The reverse displays some rather heavy die cracks. The first of these begins at the rim above the final A in AMERICA, descending along the right side of that letter, across the field, then across the arrow shafts and a talon, and from there across the leg to the bottom point of the shield and then into the other wing for nearly its entire length. Another crack begins at the dentil opposite the end of the eagle’s right (viewer’s left) wing, touches the tip of the wing and immediately turns clockwise, joining the tops of STATES before jutting off to the rim after the final S. Yet another crack unites the tops of OF with the eagle’s wing tip immediately following.

Record deposits of gold from active domestic mines in 1843 resulted in all-time high numbers of gold coins produced at all four mints, although just Philadelphia and New Orleans coined eagles.

Purchased from Stanley Kesselman, February 1, 1972.

585     1843-O AU-50. Lustrous light honey gold with an attractive blonde appearance. Some prooflike reflectivity is seen in the protected areas. A pleasing coin despite a few light marks.

From the same die pair as the previous lot, but the reverse is in a more advanced state. The previously mentioned die breaks have now become heavier, and others have appeared, most noticeably a crack from the rim to the lowest olive berry. Another crack arcs from the rim to the bottoms of TE in TEN, then back down to the rim below the N; it is apparent that a chunk is about to come out of the die in that area. In addition, the legends show die ejection (or shelf) doubling at most points—perhaps related to the deteriorated state of the die.

Purchased from Stanley Kesselman, October 7, 1968.

Treasure Find and Other Eagles

586     Selection of eagles grading Net EF-45, but sharpness of AU-50 or better—including some interesting pieces believed to have been recovered from shipwrecks: I 1843-O. Two digs in obverse field. Die state somewhat similar to Lot 585 I 1847-O Repunched 18. Saltwater surfaces. A truly lovely coin with matte finish—what an attraction and what value this would have if it could only be tied to a specific treasure wreck! I 1847-O. Saltwater surfaces. Same speculative daydream as for the preceding coin I 1848. Light matte saltwater surfaces. Reverse with ring at top of second vertical shield stripe I 1849 Repunched 1 (perhaps; in any event, a very tiny serif-like line emerges from the left side of the upright about a third of the way from the bottom). Cleaned I 1849. Cleaned I 1851. Cleaned. (Total: 7 pieces)

A Dozen Interesting Eagles

587     A dozen eagles with various minor problems; grades average net EF-40, often with finer sharpness. Interesting pieces that were acquired by Harry W. Bass, Jr., for the study of dies and other characteristics. "A lot of coins for the money," a group well worth considering carefully: I 1843-O. Cleaned I 1844-O. Lightly cleaned I 1845-O. Saltwater surfaces I 1847. Saltwater surfaces I 1851. Lightly polished. Interesting die peculiarities; the bottom of the figure 8 is somewhat broken away and irregular I 1853. Cleaned (2) I 1853-O. Cleaned I 1881. Cleaned I 1881-S. Cleaned I 1882-S. Cleaned I 1897-S. Cleaned. (Total: 12 pieces)

Important 1844 Eagle

A Low-Mintage Rarity

Enlarge

588     1844 AU-53 (PCGS). Warm honey gold with some prooflike reflectivity in the recessed design areas. A rare and underappreciated date, rarer even than its low mintage of 6,361 business strikes suggests. The typical specimen is just VF or so, with AU examples of the date considered quite rare. In fact, the present specimen is equivalent in grade to the coin we offered as Lot 1342 in Part II of the Harry W. Bass, Jr. Collection (October 1999); Harry called that one a "rare grade" in his notes! This and the earlier Bass coin are among the finest known examples of this date.

Date logotype bold. Prominent horizontal ridges—far more than die scratches—at the left border beginning prior to star 1 and continuing to close to star 3; at the ninth star there are some lighter marks which are perhaps best called file marks or die lines, rather than ridges. A very curious phenomenon, also seen on a $10 die of 1847, the reason for which is not known.

From Stack’s sale of the Bartle Collection, October 1984, Lot 1152.

Another 1844 Eagle

Enlarge

589     1844 EF-45. Lustrous honey gold. Some green detritus is seen at OF and the eagle’s wing. Reverse lightly brushed but still an attractive example of a desirable rarity.

From the same dies as the preceding lot and with the peculiarities referred to in the earlier description.

From Lester Merkin’s sale of March 1969, Lot 401.

Attractive 1844-O Eagle

Enlarge

590     1844-O Repunched Mintmark. AU-55. A lustrous and satiny honey gold specimen with strong eye appeal for the assigned grade. Nicely struck. Mintmark repunched. A few light marks are not unusual for the grade and do little to detract from the overall appeal of the coin. An available date that is typically seen in VF to EF; at AU or finer, the population of available specimens drops dramatically. The present specimen equals the quality of Lot 1345 in Part II of the Harry W. Bass, Jr. Collection (October 1999), a specimen we called at that time, "The highest technical grade that Harry Bass was able to locate." Choice for the grade.

Obverse with date logotype bold and slightly high. Several thin raised die lines, not prominent enough to be called ridges, extend from the dentils in the area of the second through fourth stars. Reverse with remnants of a previously punched O plainly visible within the center of the existing mintmark (which, we should mention here, has a little dig—damage after minting—on its right side). Several vertical shield stripes protrude noticeably into the horizontal stripes above.

From Lester Merkin’s sale of January 1968, Lot 334.

591     1844-O Repunched Mintmark. AU-50. A second lustrous specimen of this popular branch mint issue.

From the same dies as the previous lot.

Purchased from Julian Leidman, February 18, 1972.

"Underrated" 1845 Eagle

Enlarge

592     1845 AU-50. Lustrous pale honey gold. A few scattered marks are noted. Much rarer in AU than its mintage of 26,153 pieces suggests. In fact, Part II of the Bass Collection offered a nice EF-40 example as the finest representative specimen of the date in that sale. Called "one of the grossly underrated dates in the Liberty Head eagle series" by David Akers. A pleasing coin.

Date logotype deeply impressed, more so at the 1 than the 5. Date relatively low, top of 1 nearly twice the distance from truncation as bottom is from dentils, left edge of lower serif just left of center of dentil below, 1 and 8 close, 8 and 4 closer yet, virtually touching, 4 and 5 most distant. A faint vertical reverse crack connects the underside of the eagle’s beak with the shoulder below. Unfinished die work resulted in patches of roughness in the "white" vertical stripes on the reverse shield.

Purchased from Stanley Kesselman, June 30, 1967; ex Stack’s sale of June 1967, Lot 197.

593     1845-O Doubled Date. AU-50. Bright and lustrous honey gold with some reflectivity in the fields. An intriguing variety, and a decidedly scarce date in AU. This is one of the most outstanding blundered dies in the eagle series—a coin the significance of which is far greater than a normal Doubled Date. One inspection under magnification will be convincing!

Breen-6870 "Double date. Very rare."

Date first punched more to the right, nearly a numeral’s width in fact, then corrected. Strong remnants of the original 8 and 5 are still present, the 8 between the existing 8 and 4, and the 5 to the right of the existing 5. The original 8 and the existing 8 are the same size, and on the same plane, while the upper flag of the previous 5 is considerably higher than that of the existing 5. Some raised horizontal die lines stretch to the right from the back of the originally punched 5, no doubt the remnants of attempted effacement. Reverse with mintmark nearly centered over N below, hollow area atop the second group of vertical shield lines, mintmark nearly centered over N below.

A strange situation occurs here; the remains of the previously punched 8 and 5 are present and plainly visible, but absolutely no traces of a 1 or 4 can be seen.

Purchased from the Goliad Corporation, January 26, 1973.

594     1845-O Over Smaller Date. EF-45. Lustrous yellow gold. A few scattered marks are present, most prominent being a tiny nick on the obverse rim below the date. None of the marks are overly distracting. Dies aligned in the same direction, or medal wise.

We begin with the description given by Walter Breen under his 6871, that author calling this an 1845/4 Overdate:

"Extremely rare. Date 1844 first cut well to the left of the final position of 1845. Upright of 4 within lower part of 5."

Our view differs, but we are not quite sure what it is. The most telling feature is what almost certainly seems to be the pointed peak of a tiny 4 to the left of the final flat-topped 4 of the date. Under the 5 are traces of another digit, whether an earlier 4 (not likely as it does not look like the first 4) or something else we do not know. It seems to us that a four-digit logotype from the 1840s, possibly 1845, but of distinctly smaller size was first used on the die, nearly completely effaced, then corrected. Perhaps good nomenclature would be, at least for the present: "1845 Over Smaller Date."

Reverse mintmark round and slightly low, and centered nearly directly over the space between the E and N in the denomination.

Purchased from International Gold Corp., February 15, 1973.

595     1845-O Repunched 84. EF-45. Lustrous medium gold with some faint scattered marks noted for accuracy. As with nearly all eagles from the era, this date is typically seen in VF or so, with AU specimens quite desirable for their unquestionable rarity.

Breen-6869. "Repunched 84. Rare." Some repunching is evident, but completely different from the preceding. The traces are very light.

Date logotype evenly impressed. Date relatively high, distance from base of 1 to dentils roughly three times greater than from top of 1 to truncation. Traces of previously punched 8 and 4 visible to the left of the existing digits. Faint diagonal lines through Y of LIBERTY. Point of lowest arrow feather over right side of mintmark, mintmark over left upright of N below, no hollow space at top of second vertical shield line group.

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 2233.

596     1845-O Repunched 84. EF-40. Warm medium gold with some orange highlights and a hint of lustre in the recessed areas. A tiny edge nick is noted directly below the date.

Breen-6869.

From an early state of the obverse, with more details of the repunched date present around the 8 and 4, and with clear repunching at the base of the 1. The die lines through the Y in LIBERTY are also bold. From a different reverse die than the previous lot, this with O mintmark farther to right, point of lowest arrow feather over center of mintmark, mintmark nearly centered over N below, hollow space at top of second group of vertical lines in shield. This must have been the centering point of the die, a variation on the ring that appears on certain later dies of the type.

Purchased from Ed Shapiro, April 7, 1969.