The Harry W. Bass, Jr. Collection – Part IV
Session Two
Tuesday Morning, November 21, 10:00 AM Sharp
Eagles: Lots 577-786
Double Eagles: Lots 787-981
[Eagles - Lots 577-599]
Eagles
Welcome to the selection of $10 eagles in the Bass Collection
Part IV sale. If you expect quality individually, if you expect rarity individually,
and if you expect quality and rarity combined, you will be delighted. The term amazing,
the term spectacular, and other adjectives suggesting excitement are appropriate
for coin after coin in the following listing. Some are so elusive that we have never
seen their likes before and, once sold, will likely not see them again. As is true
throughout the sale, opportunity is more important than the price paid. Money
is money, and from all we read there is a lot around. However, coins can be very
rare, and even Croesus or Midas could not buy certain of the pieces in this sale,
if the successful bidder does not want to part with them.
All of this said, the offering commences with a breathtaking listing of early eagles for which Mint State is the rule–no exceptions! Then comes a virtually unbelievable presentation of Liberty Head eagles, including many pieces that are Condition Census or finest known.
Although Saint-Gaudens eagles were not Harry Bass’ cup of tea, as they lacked the date logotype positions that fascinated him so much, he did gather under his numismatic wing many nice pieces–some of which are presented herewith–just take a peek at Lots 784 and 786 for example.
Collectors of the present generation will want to bid liberally. Collectors of a future generation can only wish that they had been here, right now in November 2000. The $10 pieces are the cataloguing work of Mark Borckardt (early issues), John Kraljevich, and Frank Van Valen with notes and comments here and there by the editor (QDB).
Eagles (1795-1933)
Numismatic Notes
Introduction
In connection with the Harry W. Bass, Jr., Collection offering of $10 coins the following notes by your editor may be of interest as a general guide to the series and the collection of these interesting pieces.
Eagles, the Mainstay of Commerce
The eagle or $10 gold piece was intended to be the foundational gold coin, the mainstay of commerce, in the American monetary system as outlined in the Mint Act of April 2, 1792. This was the largest denomination and was the standard against which fractional coins were measured, the $2.50 quarter eagle and $5 half eagle being proportionate divisions as to their weight.
Although copper half cents and cents were coined as early as 1793, and silver coinage (half dollars and dollars) followed in 1794, it was not until 1795 that gold coins made their debut. A delay was caused until the chief coiner and assayer were able to post high bonds (originally set at $10,000 each, now somewhat reduced), required of them before striking precious metals.
From the first year of coinage, 1795, to the last, 1933, eagles were made in six major design types, or even more if star positions are noted among the earlier issues and the portrait variations of 1838-9 are added. No coins of the denomination were struck from 1805 to 1837 inclusive. Thus, certain Capped Bust and Classic Head issues found in the $2.50 and $5 series have no counterparts among eagles.
Coinage was at the Philadelphia Mint for the early years, 1795-1804. After a hiatus, eagles were again coined in 1838. From that time until the debut of the double eagle in 1850, the $10 was the largest gold coin of the realm.
For Liberty Head issues 1839-1907, certain pieces were struck at the New Orleans, San Francisco, and Carson City mints. Beginning in 1906, the Denver Mint also produced coins. The Charlotte and Dahlonega mints, although their output was limited to gold issues, never coined pieces above the $5 denomination.
While it is likely that several tens of thousands of eagles of the 1795-1804 years were exported, it is also likely that the majority remained stateside. During this era, most of the gold used in foreign trade was in the form of Spanish-American doubloons–which were recognizable and familiar to recipient merchants and countries all over the world. Later, during the 1840s, many eagles were exported, usually in the form of mixed lots of circulated coins of the new (as of 1838) Coronet Head coinage. No overseas hoard of Mint State examples has ever been located for any $10 dated prior to the Civil War. After the advent of the double eagle in 1850, the $20 became the coin of choice in foreign trade. Gold coins did not circulate in the East or Midwest from late December, 1861, until late December, 1878. During this time, mintages tended to be low at the Philadelphia Mint. San Francisco Mint eagles were often made in larger quantities, and seem to have been mainly used on the West Coast.
As noted in the later descriptions, following the advent of the Carson City Mint in 1870, it is likely that most CC coins were used locally or regionally for the first few years, accounting for the usually-seen grades of VF and EF for such pieces (the Bass Collection IV coins being exceptions–shall we add, of course).
From 1879 through the early 20th century, eagles were again exported, often in quantity–this being particularly true for the larger-mintage issues. Along the way, many worn eagles of earlier dates–back to 1840 and including New Orleans and Carson City coins–were shipped overseas. While the amounts of eagle shipments were usually small in comparison to double eagle exports, the total number of $10 gold pieces shipped abroad ran into the millions. After World War II, and especially from the 1970s onward, many were repatriated–accounting for the largest proportion of Mint State coins known today of the eagles dated from about 1879 onward.
Eagle Designs and Types
1795-1797 $10 with Small Eagle Reverse
The first United States gold coins struck were $5 half eagles, made in July 1795. The $10 eagle coinage followed soon thereafter. The first $10 gold piece struck at the Philadelphia Mint was presented by Director Henry William de Saussure to President George Washington, by whom he had been appointed to the office as second director of the Mint (following the resignation of Dr. David Rittenhouse).
The design of the first eagle issue is similar to that of the contemporary half eagle and is also by Robert Scot. On the obverse Miss Liberty is shown wearing a cloth cap, facing right, with stars to the left and right. Kenneth E. Bressett, seeking to standardize nomenclature for use in A Guide Book of United States Coins, designated the portrait as the "Capped Bust to Right" style.
The reverse of the 1795 eagle, copied from the design of an ancient cameo, depicts an eagle perched on a palm branch holding a wreath aloft in its beak. The inscription UNITED STATES OF AMERICA surrounds. There is no indication of denomination or value on this or the subsequent eagle type. During this era, gold coins of many nations circulated in American commerce, and their value was determined by a combination of weight and fineness (purity), various conversion charts being published from time to time in newspapers and journals.
Eagles made their first appearance in circulation toward the end of 1795. As nearly all extant specimens show signs of wear, it is evident that such pieces saw extensive use in commerce. Undoubtedly, many were shipped abroad, but it is likely that most remained in domestic use.
With a total mintage of an estimated 13,000 or more pieces, eagles of this design type are rare today, and each and every variety is considered to be a numismatic prize. With some searching, attractive Very Fine to AU coins can be located. At infrequent intervals Uncirculated pieces appear on the market, usually when great collections are dispersed. Such coins are apt to have prooflike surfaces, a situation especially true of the first year of issue, 1795.
1797-1804 $10 with Heraldic Eagle Reverse
Beginning with coins dated 1797, the Heraldic Eagle reverse (first used in the gold series on the 1796 $2.50, although an anachronistic $5 of 1795 must be mentioned) was mated to the obverse style used earlier. In keeping with silver and other gold denominations of the 1800 period, the reverse, adapted from the Great Seal of the United States, depicts an eagle with a shield on its breast, holding in its talons a bundle of arrows and an olive branch and in its beak a ribbon inscribed E PLURIBUS UNUM. A galaxy of stars and an arc of clouds is above. The inscription UNITED STATES OF AMERICA surrounds. There is no mark of denomination or value.
The obverse remained the same as the 1795-1797 style, the so-called "Capped Bust to Right" style, except that the star configuration varies on certain issues. For example, the 1798/7, an overdate, exists with nine stars left and four right and also with seven stars left and six right.
By 1804, it was realized that while many $10 coins were used domestically, they had increasingly important use in the export trade, especially to Europe, in an era in which paper money was distrusted, and gold was the standard for most European transactions (in contrast, in the China and East Indies trade silver coins were used almost exclusively). Continued coinage of eagles would simply be a service to exporters and do little for inland commerce. On the other hand, perhaps the $5 would be less useful in foreign trade and would be retained in the states, or so the reasoning went. Accordingly, no $10 coins were made after 1804. As depositors of bullion requested the coins they wanted in exchange, the mantle of the largest circulating gold coin fell upon the half eagle, and in ensuing years these were struck in record numbers. Alas, these too were exported, including virtually the entire coinages from autumn 1821 through the summer of 1834.
The type set collector seeking a representative coin of the 1797-1804 era will find that issues of 1799, 1800, 1801, or 1803 will be the most likely candidates. Examples are typically found in Very Fine to AU condition. Uncirculated pieces are rare on an absolute basis, but the dates from 1799 to 1803 cross the auction block with some regularity. Those of 1798 and 1804 are seen far less often (but see the Mint State Bass coin offered here!). Mint State coins have frosty surfaces, unlike the prooflike surfaces of the $10 coins of the mid-1790s.
1838-1866 Coronet Head, No Motto
Christian Gobrecht’s Coronet style, traditionally called the Liberty Head and, infrequently, the Braided Hair motif, was used on the eagle beginning in 1838, two years earlier than on the quarter eagle and one year before the style was used on the half eagle. This followed a lapse of coinage of the denomination since 1804.
The obverse depicts a female head, nicknamed Miss Liberty by numismatists, facing left, her hair in a bun secured by a string of beads, wearing a coronet inscribed LIBERTY. Stars surround, and the date is below.
The reverse shows an eagle with a shield on its breast, perched on an olive branch, holding three arrows. The inscription UNITED STATES OF AMERICA, TEN D. surrounds. The Liberty head used in 1838 and early 1839 ("Head of 1838") is slightly differently styled than that used later in 1839 ("Head of 1840"), continuing to the end of the series. The most prominent difference can be noted in the shape of the neck truncation and its relation to stars and the date.
Total circulation strike mintage of the 1838-1866 type without motto is estimated at 5,292,499, while about 400 Proofs were minted for collectors. Throughout the Coronet Head series 1838-1866, mintages were continuous at the Philadelphia Mint. A number of scarce Philadelphia issues occur in the span, with 1858 in particular considered to be rare. While we have made note of the 1858 "tradition" in our catalogues over the years, including this one, many numismatists have overlooked its rich history. Most issues of the 1860s were produced in low numbers. In addition, pieces were produced at New Orleans and San Francisco.
For type set purposes the numismatist can readily obtain an example of one of the more plentiful dates in grades of Very Fine or Extremely Fine. AU pieces are scarcer, and for all but a handful of dates and mintmarks, Uncirculated pieces are incredible rarities. Superb Uncirculated coins are seldom seen or encountered and are apt to come on the market only when great collections are marketed. Proofs were minted at Philadelphia and in all instances are very rare.
In fact, of all gold series, the span of $10 coins from 1838 to 1866 has the record for having the lowest percentage of surviving Mint State coins. For the majority of dates and mintmarks within that span, known quantities range from none at all–in multiple instances–to just a small handful. There are a few exceptions, such as 1857-S coins recovered from the wreck of the S.S. Central America, but those, too, are rarities in an absolute sense.
For the advanced numismatist with substantial financial ability, a realistic expectation for grade in the early 1838-1866 range, the type without motto, is VF and EF. Along the way some AU coins may be acquired by fortuitous circumstances (you are there right now!), but no numismatist past or present has had even 20% of the issues in full Mint State, even minimum level MS-60. Of course, while such absolute lack of high-grade coins is unusual among gold denominations, it is quite familiar to numismatists in other series–say the copper state coinages of 1785-1788, for which VF and EF might represent in some instances the finest known specimens.
1838-1866 Coronet Head, With Motto
In 1866 the motto IN GOD WE TRUST was added to the reverse, creating another design type. This style was continued through 1907.
Throughout the Coronet Head series of the With-Motto years 1866-1907, mintages were again continuous at the Philadelphia Mint. For most years from 1866 through 1878 mintages were small, followed by a tremendous surge in 1879–the first year that $10 gold coins circulated in the East and Midwest since the early days of the Civil War. During the span, mintage was extensive at San Francisco. The New Orleans Mint struck eagles intermittently from 1879 to 1906, the Carson City Mint for many of the years 1870 to 1893, and the Denver Mint in 1906 and 1907.
For the with-motto eagles the mintage of circulation strikes totaled over 37,000,000, while Proofs were made to the extent of over 2,000 pieces. Proof mintages in particular are often guesswork as little reliable data exists, especially for the earlier years. In addition, of the Proofs that were coined, many were unsold and were melted or spent. It seems that at least half of all Proofs met such fates, and many that survived were handled carelessly. Only a few true gems (Proof-65 or finer) exist of any date! As a denomination, Proof $10 coins seem to be harder to find than are those of $1, $2.50, $3, $5, or $20 issues.
In seeking a single coin of the 1866-1907 type, from Very Fine to AU to illustrate the design, the type set collector will have a wide choice of specimens. Examples are not rare. Uncirculated pieces are readily encountered of dates toward the end of the type, often from overseas bank hoards, although importations have been but tiny fractions of the quantities of double eagles. Superb Uncirculated pieces are very elusive for all but a few dates, this being especially true of any date prior to the 1890s.
The Saint-Gaudens Indian Head Coinage
In 1906 and early 1907 Saint-Gaudens, working in his studio in Cornish, New Hampshire, produced many designs including for the cent, $10 gold, and $20 gold. In particular the $20 gold coin formed a focus of interest.
For the $10 gold coin a fanciful head of an Indian was created by adding a feathered headdress to the portrait of one of Saint-Gaudens’ female models, possibly Davida Clark. The reverse of the $10 depicted the same eagle used on the 1905 presidential inaugural medal, but slightly revised. The artist developed cancer and died on August 3, 1907, not living long enough to see his coin designs reach circulation. The $10 was distributed in the autumn of 1907 and earned high praise from just about everyone.
In 1908 Saint-Gaudens’ Indian Head design was modified on the reverse by the addition of IN GOD WE TRUST in the field at the center right. The motto, disliked by President Roosevelt as he felt it was sacrilegious, was restored by a special act of Congress, and remained in effect through the end of the series in 1933. Otherwise the Indian Head obverse and perched eagle reverse motif remained unchanged. The edges of issues 1908-1911 have 46 raised stars, while those minted from 1912 onward have 48 raised stars, reflecting an increased number of states in the Union. Most collectors have ignored the star count differences, and consider all 1908-1933 coins to be of the same basic design. In the modern era of collecting in which many coins are encased in plastic "slabs" or certified holders, the edge is hidden from view, and appreciation of the star count is completely lost.
Mintage was intense and continuous of the no-motto style in 1907 and early 1908, and with IN GOD WE TRUST from 1908 through 1916, although quantities were much smaller than for double eagles, the latter being popular for the export trade. Coinage of $10 gold pieces took place at the Philadelphia, Denver, and San Francisco mints. After 1916, no eagles were made until 1920-S, followed by a gap until the 1926 Philadelphia issue, with the next following being 1930-S, then 1932 and 1933. Circulation strike mintage for the type totaled 14,385,139, while 768 Proofs were made, the latter being of the Matte and Roman Finish formats.
The numismatist seeking an example of the types of 1907-1908 and of 1908-1933 will have no difficulty locating one of the more plentiful dates in Extremely Fine to AU grade. Choice Uncirculated pieces range from very scarce to extremely rare, with the exception of 1926 and in particular 1932. In general, much of the mintage from 1908 through 1916 was used extensively in bank to bank transactions and to a limited extent overseas, with the result that most of these seen today show signs of wear. On a comparative basis, eagles are much rarer in Mint State than are double eagles, only a handful of varieties excepted.
Mintage Totals of $10 Gold Coins
The following figures are cumulative and are from the Annual Report of the Director of the Mint, 1934, by which time United States gold coinage had ceased. Totals for various denominations 1795-1933 (however the totals in the 1934 Report do not necessarily agree with other figures and totals in the same issue of the Report. Moreover, there may be instances in which coins reserved for the Assay Commission were not counted [although for most years they were], that special presentation strikings may not be included for years prior to 1860 and for some later years as well, etc. Thus, these figures, while they appear to be precise, must be regarded as approximate.)
Grand Totals for All U.S. Gold Denominations
• $1 gold: $19,499,337 face value (19,499,337 coins) • If commemoratives are added: $19,874,754 (19,874,754 coins)
• $2.50 quarter eagles: $50,541,475 face value (20,216,590 coins) • If commemoratives are added: $51,067,082.50 (20,426,833 coins)
• $3 gold: $1,619,376 face value (539,792 coins)
• $5 half eagles: $397,684,345 face value (79,536,869 coins)
• $10 eagles: $582,619,850 face value (58,261,985 coins)
• $20 double eagles: $3,473,202,120 face value (173,660,106 coins)
Gold $10 Coinage by Mints
Philadelphia Mint: 34,554,932 pieces coined, for a face value of $345,549,320.
Carson City Mint: 299,778 pieces coined, for a face value of $2,997,780.
Denver Mint: 509,280 pieces coined, for a face value of $59,092,800.
New Orleans Mint: 2,361,089 pieces coined, for a face value of $23,610,890.
San Francisco Mint: 14,558,406 pieces coined, for a face value of $145,584,060.
The above figures show that among the larger denomination gold coins, $5, $10, and $20, fewer $10 coins were made than of the other two values.
Collecting Considerations
Eagles of the early years 1795-1804 have been widely admired and collected since the cradle days of American numismatics in the 1850s. Because of this, many fine specimens were saved from oblivion, and the population of many low-mintage issues is fairly substantial today.
In dramatic contrast, and similar to the situation for $2.50, $5, and $20 coins, later date Coronet Head $10 gold eagles were not widely collected by numismatists until the 1930s. In 1893, in his Mint Marks monograph, Heaton stated that he was not aware of a single numismatist who collected these large denominations by mintmark varieties. However, he did give this information concerning Coronet Head eagles struck at branch mints, apparently working from Mint Report data rather than numismatic surveys.
The situation did not change appreciably by 1909, when Edgar H. Adams published Adams Official Premium List of United States Private and Territorial Gold Coins. For example, Carson City rarities, so much appreciated by a later generation of numismatists, had no premium value at the time.
Taking from the shelf a copy of the Professional Coin Grading Service (PCGS) Population Report for September 2000, I note the following–and pass the information along as a poignant indication of exactly how rare certain "common" Coronet Head $10 coins can be:
1801 early $10, mintage 44,344: Total number certified in all grades: 359. • Number certified in Mint State: 135.
1845-O Coronet Head $10, mintage 47,500: Total number certified in all grades: 92. • Number certified in Mint State: 2.
Today, few collectors realize how really rare the early Coronet Head $10 coins are! While this information will be forever useful to collectors, right now it is especially important with the Bass Collection Part IV offering.
Similarly, while it seems that perhaps a few collectors acquired Proofs from the Mint from the 1860s onward, these had very little aftermarket value. By the turn of the 20th century, a collector with a run of Proofs from the 1880s and 1890s might well find it more expedient to turn them into circulation, as the numismatic value was only slightly over face value. As previously noted, Proof $10 gold coins of the mid-19th century are rarer today than are Proofs of any other denomination, including the larger double eagle.
When a surge of numismatic interest developed for large-denomination gold coins in the 1930s, following the government recall of gold from the public, the $10 denomination was not as enthusiastically collected as were the other values. In particular, much attention was focused upon the large and impressive double eagles, with the smaller eagles relegated to the sidelines. However, Thomas L. Elder–for one–circulated lists of lower-mintage dates to bank tellers and in the process saved from destruction many rare New Orleans, Carson City, and other issues.
In time, $10 pieces came to be appreciated–as they are today–but too late it was learned that many issues, once available, were lost.
At the present time, the formation of a fine cabinet of Liberty Head $10 gold coins 1838-1907 is one of the greatest challenges in numismatics if such pieces are desired in a high grade such as AU (never mind Mint State!). The good news is that in the series there are no "impossible" rarities, although quite a few are scarce to rare, even at the VF level. Again, this is quite relevant to the present catalogue.
The numismatic bibliophile–or lover of out-of-print coin collecting literature–will find that assembling a library of significant auction offerings of circulation strike Coronet Head eagles is child’s play, as of the hundreds of catalogues issued before 1900, only a handful had significant content in this area. On the other hand, a library containing offerings of Mint State and Proof gold dollars would require several trips to carry the books from a library to a reading room.
The Saint-Gaudens or Indian Head coins are much more available, especially in grades such as AU and the lower Mint State ranges, but this is offset by their greater popularity. The auction record shows that the great rarities toward the end of the Saint-Gaudens series, the 1920-S, 1930-S, and 1933, are actually plentiful in comparison to most high-mintage Coronet Head eagles of the 1838-1866 No Motto type in Mint ßtate, and most of the issues from 1866 to about 1880 as well. As an example, the 1933 Indian Head eagle is a famous and much-heralded rarity, but dozens of examples exist in Mint State. On the other hand, virtually no one is aware that the 1864-S $10 is not only two or three times rarer than the 1933, but not a single coin exists in Mint State. To continue the analogy, the auction offering of an MS-63 1864-S $10, should such a coin ever be discovered to exist, would necessarily need to be accompanied by a few paragraphs of text to acquaint bidders with it. On the other hand, a simple listing such as "1933 $10, MS-63," would be enough to draw bids from all over the country, as it is well known.
Most numismatists aspire to collect $10 gold by basic design types. Among early eagles 1795-1804 there are many fascinating die varieties and combinations. Coronet Head eagles 1838-1907 have many variations of date logotype placement and mintmark size and position.
For the specialist there are many opportunities in the series, not the least of which is the opportunity to acquire unheralded rarities for less than comparable pieces sell for in other series. Coins of the 1795-1804 years offer many interesting die varieties and subtypes. Among Coronet Head $10 issues from 1838 to 1907, earlier dates in the range have interesting features relating to repunched dates, peculiarities of the date logotypes, and other considerations. They are challenging to collect by date and mintmark sequence, without any "impossible" rarities with which to contend.
Eagles of the 1907-1933 Indian Head type commence with the two With Periods varieties of 1907 and including the rare and expensive 1920-S, 1930-S, and 1933. All other dates and mintmarks are fairly inexpensive except in higher Mint State grades.
Mint State 1797 Heraldic Eagle $10
Breen-2C, Taraszka-12
Enlarge
577 1797 Breen-6834, Breen-2C, Taraszka-12. Rarity-4. Heraldic Eagle. MS-61 (PCGS). Very sharply struck with lustrous greenish gold surfaces, very slightly reflective fields, and frosty devices. Nicely centered with full obverse and reverse borders. Typical minor abrasions and hairlines are noted, consistent with the grade assigned. This is a wonderful example not only for the die variety specialist, but also for the connoisseur of early gold type coins. Within the top 10 examples, of all three varieties, offered for public sale over the last decade. All 1797 Heraldic eagle $10 pieces were from a single obverse die with 10 stars left and six right.
In his excellent study of early eagles, Anthony Taraszka determined that this variety was struck after all other 1797 eagles and also after 1798/7 eagles!
Lightly cracked from border through final 7 in date to bust with a parallel crack from upright to crossbar of this 7. Another crack from a dentil joins the outer point of star 8. The reverse is nearly perfect, although may be very lightly lapped as evidenced by detached arrowheads. A very short and faint die crack from center of a dentil joins the right top serif of R in AMERICA.
We have just purchased from Anthony Taraszka the balance of his printing order for the limited edition hardbound book describing $10 gold pieces 1795-1804. These have been assigned a new list price of $69.95 but are available on a temporary basis for net $55 plus postage. This is one of the most valuable die studies ever produced on an early gold series, and it is essential to every serious library. Order separately from our Publications Department. Request Stock No. BTA-900.
From Quality Sales Corporation’s sale of the John A. Beck Collection, January 1975, Lot 486, an 11-piece set of early eagles from 1795 to 1804, including 1797 small and large eagle issues, and both varieties of 1798/7. In addition to the set, this sale offered 41 other early eagles, a most impressive selection.
Important Mint State 1799 Eagle
Small Obverse Stars
Breen-1A, Taraszka-15
Enlarge
578 1799 Breen-6839, Breen-1A, T-15. Rarity-7. Small Obverse Stars. MS-61 (PCGS). Reflective greenish gold with light hairlines and minor abrasions. A few planchet flakes on the obverse are no doubt original to the planchet before coining. Faint reverse adjustment marks are confined to the dentils at 12:00. This is an extremely important opportunity for the specialist, and may qualify as finest known of just nine or 10 examples thought to exist. Anthony Taraszka listed six examples in his study, grading EF to Choice AU with the present coin listed as AU, based on the grade assigned by Pine Tree Auction Company in 1975. There are most likely three or four others that have not yet been identified as this variety.
Obverse has several die cracks: from between border dentils at 11:00 down to a point in the field between star 8 and the cap; from between dentils down between IB, crossing the lower left serif of B where it joins the upright and continuing almost to the cap; from border to left top of L, following left edge of upright, with another parallel to left upright of L, crossing the lower left serif and into the cap. Another crack is confined to the interior of the cap and hair below.
The reverse die is instantly identified by a die chip between the centers of U and N with another centered in the upper space of N, between crossbar and right upright. A crack from the wing crosses the right shield border and vertical stripes 3, 4, 5, and 6. A die chip is connected to the left side of final A, just above the lower left serif, with a smaller chip in the open space of C. Another crack from the stem end crosses the tail feathers to the arrow butts, however, this is very faint.
From Pine Tree Auction Company’s Breen 2 Gold Coin Auction Sale, June 1975, Lot 201.
579 1799 Breen-6838, Breen-2A, T-14. Rarity-6. Small Obverse Stars. AU-55. Greenish gold and harshly cleaned with very heavy hairlines. A large depression is in the left obverse field. Very sharply struck with heavy obverse and reverse borders. A rare variety with perhaps 20 examples currently identified.
Obverse has a die crack from the border through left upper and lower serifs of L to the cap. Reverse die chips described in the lot above are visible, however, the die cracks have not yet developed.
Purchased from Joe Kuehnert, August 10, 1972.
Spectacular Mint State 1799 Eagle
Breen-4E, Taraszka-19
Enlarge
580 1799 Breen-6840, B-4E, T-19. Rarity-3. Irregular Date. MS-64 (PCGS). Frosty greenish gold lustre with a few small splashes of darker toning. Exceptional surfaces and with considerable aesthetic appeal. This is a coin for the connoisseur: for the type collector or the specialist. Although a relatively common variety with numerous Mint State examples surviving, only a few could possibly be nicer than this. This variety is quickly identified by the irregular date obverse and imperfect clouds reverse. The date is distinctive, with the digit 1 distant from the hair and final digit almost touching the bust. The reverse has imperfect or incomplete clouds below STATES.
PCGS Population: 2; none finer.
A few dentils near stars 1 and 2 are joined by die crumbling. A very early die state without evidence of die cracks or clash marks.
From Superior’s sale of the Ruby Collection, February 1975, Lot 1224
Lovely Mint State 1799 Eagle
Large Obverse Stars
Breen-5G, Taraszka-22
Enlarge
581 1799 Breen-6841, B-5G, T-22. Rarity-3. Large Obverse Stars. MS-62. Satiny light yellow gold with a whisper of green. A small lilac toning spot joins the top right corner of digit 7. A few minor hairlines are in the right obverse field, and other tiny surface marks are scattered about both obverse and reverse. These are all absolutely consistent with the grade assigned. This is a lovely example for the date collector and, as one of the most common varieties of early eagles, is an ideal choice for the type collector.
This is the only obverse die with large stars, and was combined with two different reverse dies. The other variety is quite rare. Identification of the obverse, aside from the physical larger size of all stars, is easily accomplished by noting that star 8 at upper left is rotated clockwise, with its southwest point aimed at the upper side of a star ray just below. Normal placement would find these stars aligned point to point, as with adjacent star pairs.
Struck from perfect dies.
Purchased from Stanley Kesselman, August 1971.
Mint State 1800 $10 Gold
Single Variety Year
Enlarge
582 1800 Breen-6842, B-1A, T-23. Rarity-4. MS-61 (PCGS). Sharply struck with reflective greenish gold surfaces. This is a very attractive example with a few very minor abrasions, however, no serious blemishes. This is the only variety of the year, thus the only choice for date collectors and variety collectors alike, giving the impression that the variety is quite rare. Although certainly scarce, with about 150 examples known this is far from a rarity.
Obverse star 7 is sharply doubled. The obverse has a vertical crack from the border left of L through Liberty’s cap with another crack through the tops of ERTY. The reverse has a crack through leaves, claw, and tail feathers. Struck after the 1799 offered in Lot 581, with a common reverse die.
From Stack’s sale of the Bartle Collection, October 1984, Lot 1119.
Popular Mint State 1801 Eagle
Enlarge
583 1801 Breen-6843, B-2B, T-25. Rarity-3. MS-62 (PCGS). Frosty greenish yellow gold with a few trivial surface marks. A trace of rose toning is visible on the reverse. A few light hairlines were certainly considered when the grade was assigned. Numerous Mint State examples of this variety are known, with this being the single most common early eagle variety. A candidate for the date or type collector.
Struck from perfect dies.
From Abe Kosoff’s ANA Sale, August 1966, Lot 2101.
Outstanding 1804 Crosslet 4 $10
Among the Finest Known
Enlarge
584 1804 Breen-6847. Crosslet 4. MS-62 (PCGS). Frosty and attractive light yellow gold with minor surface marks. The right obverse field, between Liberty’s nose and star 9, has four tiny depressions, as seen on numerous early United States coins. These almost certainly had something to do with minting procedures, however, they remain mysterious. This is an extremely important opportunity, not only for the variety collector, but for the date collector as well. Very few truly Mint State examples exist, with this probably among the top five or six, and certainly among the top 10 known.
PCGS Population: 3; 1 finer (MS-63).
The obverse is cracked through bases of 180 and stars 1 through 6. Another crack from the edge through star 11 curves up in the field to Liberty’s lower lip with a branch curving down through stars 12 and 13 to the bust tip. A further crack follows the edge above stars 5 and 6 and another follows the bust line above 180. The reverse has a crack from final A to top of U, crossing the tail feathers. Another crack or cracks join UNITE.
Purchased from RARCOA, February 1, 1975.
High-Grade 1839 "Head of 1838" $10
Enlarge
585 1839 Large Letters, Type I. AU-55 (PCGS). Bright yellow gold with much original lustre. Sharply struck. A light scratch above the eagle’s right wing is the only defect worthy of individual note. This is a very attractive example of this highly sought two-year type, infrequently offered so fine.
Like all 1839 "Head of 1838" eagles, this coin bears an overdate and uses the same die as the 1838 eagles, merely modified at the date. Slight overpunching is still visible at the right edge of the 9, though lapping and die wear have effaced most vestiges of the 8 underdigit.
Special note from the editor (QDB): Lot 585 is significant in the annals of our company, as this is the first coin that well known numismatist John Kraljevich has catalogued for one of our sales. Those who are familiar with John’s career will know that he has carried away top laurels in the Numismatic World Series conducted by the American Numismatic Association and has garnered quite a few honors–all of this at a fairly young age. Welcome, John!
Purchased from SeRo Coins on September 26, 1967.
Mint State 1840 Eagle
Tied for Finest Certified by PCGS
Enlarge
586 1840 MS-61 (PCGS). Lustrous yellow gold with sharply struck details. 47,338 eagles were coined at the Philadelphia Mint in 1840; this low mintage left very few high-grade pieces available to modern collectors. Breen regarded this coin as "prohibitively rare" in AU, while fully Uncirculated coins are nearly nonexistent. A supremely important coin in this series, tied with one other MS-61 as the only Mint State specimens of the year certified by PCGS. An opportunity not likely to be repeated in the near future.
PCGS Population: 2; none finer.
The four-digit date logotype used on 1840 eagles was also used on cents of the year, a phenomenon that would be repeated in 1841 and 1842.
Raised die lump on Liberty’s curl directly below ear serves to identify this obverse die.
Purchased from Stanley Kesselman, February 18, 1971.
587 1840 EF-45. Bright gold with original lustre clinging to stars and devices. The bulk of its existence no doubt spent idly in a bank vault or box of keepsakes. A very original specimen of this scarce date.
Breen-6853. From the same obverse die as previous lot, with die chip on curl below ear. The reverse die, while different from that of the preceding lot, is has no telltale identifying marks.
Purchased from Rowe and Brownlee, August 4, 1967.
588 1841 AU-58. Prooflike surfaces retain vestiges of original lustre. Even light yellow with pink highlights. An appealing specimen of an issue that is "prohibitively rare" in Mint State, according to Breen.
Breen-6854. Obverse die may be identified by the tiny spurs from dentils to star 3. The reverse die shows a very thin die crack from the rim to the wing tip between (UNITE)D and S(TATES) which crosses the eagle and ends at the armpit (wingpit?) of the eagle across the shield. It is most easily seen in the middle of the shield crossing from northwest to southeast. This same die was used on 1842 Small Date eagles (see Lot 592 in this sale or Lot 1324 in our offering of the Harry W. Bass, Jr. Collection, Part II, in October 1999.)
From Stack’s sale of the Bartle Collection, October 1984, Lot 1145.
Attractive Eagle Grouping
589 Half dozen eagles grading EF-45: I 1841 I 1847-O Repunched 18 I 1849 I 1851 I 1851 Hollow ring atop second stripe in shield I 1853-O. All have attractive surfaces with lustre remaining. (Total: 6 pieces)
Another Nice Group of $10 Pieces
590 Selection of eagles grading EF-45: I 1842 Large Date I 1848 I 1850 Large Date I 1851-O Hollow ring atop second stripe in shield I 1852 I 1880-S Tall S I 1899-O. An attractive grouping with mint lustre remaining. Most display yellow surfaces with a few having a touch of rose at the devices. (Total: 7 pieces)
A Further Extensive $10 Selection
591 Large grouping of eagles: I 1842 Large Date. Net EF-40; sharpness of EF-45, small gouge in the right field I 1847 Net EF-40; sharpness of AU-55, saltwater surfaces I 1847 VF-30. Subdued golden rose surfaces I 1847-O Net VF-30; sharpness of AU-50, buffed I 1847-O Repunched 18. VF-30. Rotated reverse. Yellow surfaces I 1848 Net EF-40; sharpness of AU-50, saltwater surfaces I 1851 Net VF-25; sharpness of EF-40, tooled and burnished I 1851-O Hollow ring atop second stripe in shield. Net VF-30; sharpness of EF-40, cleaned I 1853 Net VF-35; sharpness of AU-50, cleaned I 1880 Net EF-40; sharpness of AU-58, brushed I 1881 Net VF-30; sharpness of EF-40, cleaned I 1881-O VF-30. Magenta at the devices I 1897-S Net VF-35; sharpness of EF-40, cleaned I 1901-S VF-35. Yellow surfaces with some mint lustre remaining. Coins such as this and in the preceding lot were eagerly acquired by Harry W. Bass, Jr., who found them fascinating to study for die states, logotype positions, mintmark variations, and all of the other minute peculiarities that contribute to the fascination of 19th-century American gold. Each coin still includes this potential, waiting to be tapped by the new owner. (Total: 14 pieces)
1842 Small Date Eagle
Rarity in Mint State
Enlarge
592 1842 Small Date. MS-60. Bright yellow, highly prooflike surfaces. An eye-catching example, scarce as a date and truly rare in this lofty state of preservation. A small reverse nick is noted at the shield’s third upright. We are able to trace only two other specimens of Mint State 1842 Small Date eagles at auction, an MS-62 in our Harry W. Bass Jr. Collection Part II in October 1999, and an MS-60 in our Brilliant and Sieck Collections sale of January 1992.
Breen-6856. Obverse die shows short lapping marks at dentils between date and star 1. Reverse also used on 1841 eagles, with die crack from left rim to wing through center of shield. Date logotype also appears on cents of the year.
From Stack’s offering of the Bartle Collection, October 26, 1984, Lot 1147.
Superb 1842 Large Date Eagle
Exceedingly Rare in Mint State
Tied for Finest Certified by PCGS
Enlarge Enlarge
593 1842 Large Date. MS-64 (PCGS). Rich medium yellow gold with unbroken lustre. Sharply struck and very attractive. A few short, faint scratches in left obverse field are noted for accuracy. The 1842 Large Date eagle is scarce above VF, rare in AU, and impressively unobtainable in Mint State. PCGS has granted only four specimens the Mint State appellation; this coin is tied with one other as finest known. A coin that stands out even in a collection of the calibre of the present offering – sure to be a highlight in any sophisticated gathering of United States gold coins.
PCGS Population: 2, none finer.
Heavy die polish lines run vertically in front of and beneath face. Lapping lines likewise crisscross the reverse around and inside the shield, perhaps an attempt to remove remainders of a clash which barely remain on right side of eagle between neck and wing.
The 1842 Large Date logotype was first used on half dollar dies produced before March 1842. It was used on cents in addition to half dollars and eagles of the year. Heavy lapping marks at the obverse rim near stars 2 to 4 and between star 13 and the 2 of the date.
From Heritage’s sale of October 16, 1995, Lot 6239.
594 1842 Large Date. Net AU-50; sharpness of AU-58, cleaned. Short scratches beneath the olive branch. The 1842 Large Date eagle is very rare above EF and this lot provides an almost unheard of second opportunity to purchase one at or near Mint State!
Breen-6857. This specimen is struck from the same die pair as the previous lot.
From Stack’s sale of the Miles Collection, October 1968, Lot 619.
Desirable 1842-O Eagle
Enlarge
595 1842-O Net AU-55 PL; sharpness of MS-60 PL, lightly cleaned. A few spots of heavy orange toning near star 13 and a few obverse nicks are noted. Despite these minor flaws, this issue rarely presents itself in a state of preservation near Mint State and is thus very desirable in this grade. Its eye appeal is intact and its place in the roster of high-grade 1842-O eagles is secure. All details sharply struck for this scarce New Orleans emission.
The reverse die is cracked from left rim to the tip of eagle’s wing, from U of UNITED to the dentil and from N of TEN to dentil. The obverse die has been lapped such that the upper curl of Liberty’s bun appears disconnected.
From our sale of the Stanislaw Herstal Collection, February 1974, Lot 777.
Attractive 1842-O Eagle
Enlarge
596 1842-O AU-50. Appealing light yellow surfaces with some original lustre surrounding the stars. Despite its gentle circulation, this coin still ranks among the very finest of this date and mint–a point sure to be appreciated by those who avidly collect United States eagles.
Clash marks are evident on the reverse on the right of the eagle’s neck and the wing’s juncture at the left of the eagle in the field above the wing. A die chip is also seen in the crossbar of the T in UNITED.
Purchased from the Goliad Corporation, January 26, 1973.
597 1842-O EF-45. Medium original yellow gold with some mottled orange toning near the date. An attractive circulated example of this scarce New Orleans striking. A short scuff is noted on Liberty’s cheek for accuracy.
Signs of die clashing can be seen all around the eagle, most noticeably from eagle’s beak to wing and at juncture of wing on eagle’s right. In addition to lighter lapping marks, a single individual die line from eagle’s leg to olive branch may serve to identify this die.
Purchased from Lester Merkin, January 22, 1967.
598 1843 Triple Date. AU-50. Very attractive medium yellow reflective surfaces. This coin has excellent eye appeal and retains some mint lustre. Date is heavily repunched, with two distinct impressions visible to the south of the date. Breen calls the Triple Date "very rare," adding "best seen is the AU in a Tex. pvt. coll." This is the specimen seen and noted by Breen, a high-grade specimen for the date and mint and, if not finest known, certainly among the very finest of the variety! A prize for the specialist.
Breen-6861. Some die rust seen in the dentils at eagle’s wing tips which avoided the lapper’s file.
Purchased from Jack L. Klausen, June 19, 1968.
An Interesting Half Dozen Eagles
599 Half dozen eagles with a variety of minor surface problems: I 1843 Net EF-45 I 1843-O Net EF-45 I 1847-O Net EF-45 I 1861 Net EF-45 I 1879-S Net EF-45 I 1898-S Net EF-45. All are finer for sharpness. (Total: 6 pieces)
