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Sale 53
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Lot 1325
1797 $10 Capped Bust. Large Eagle. NGC graded MS-61 BD-4. Well struck with plenty of mint luster still intact. A lovely high grade, problem-free specimen and bascially untoned. Only 10,940 minted. No fault can be found with the manner of this coin's preservation and carefully handling after more than two centuries! First year of the Capped Bust, Heraldic Eagle type and a rarity in the series in this outstanding condition. This variety is characterized by a "cross" star arrangement above the eagle and within the semicircle of clouds, with stars 2 through 8 aligned toward the eagle's eye. This variety is even scarcer as a late die state with the die break between ER to the leaf, as seen on this piece. This break undoubtedly led to the early discarding of this die. The surfaces have the usual bright green-gold color with traces of satiny luster intermixed with the semi-reflectiveness in the fields. Sharply struck throughout and well centered on a problem-free planchet with a few of the usual small marks on each side seen on others, the most individual of which is a short diagonal line between L and I of LIBERTY. The overall quality makes this piece appear choicer than the modest MS61 grade usually entails. In a new NGC 4 pronged holder. Pop 32; 13 in 62, 1 in 63, 1 in 64 (PCGS # 8559) .
The long thick necked eagle is a little know subvariety of the Large Eagle type of 1797. It has a different style eagle which makes it sort of a transitional reverse between the tall and short necked varieties. Because these devices were hubbed, the first reverse punch may have been modified to create this subvariety. The long thick neck eagle is unique to this variety, as are the other two eagles for BD-2 and BD-3.
Estimated Value $38,000 - 40,000.
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| Realized $43,700 |
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