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Sale 41
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Lot 1643
1797 $10 Capped Bust. Small eagle. NGC graded MS-63. Encased in NGC holder 1562003-001. Taraszka-7. Only the one variety known with the small eagle reverse. A fantastic coin! The strike is complete and the planchet unusally clean. Loaded with luster which is slightly reflective and delicately toned. The fact that 3,615 pieces are believed to have been made of this small eagle issue from 1797 explains its rarity in all grades. Breen only knew of one coin that showed an unbroken obverse. The unique arrangement with 12 stars left and 4 right, broke soon after it went into production, the first evidence for this being a thin crack starting at the rim below the final star on the right and extending into the field further and further. This is an earlier state since the break ends in the lower right field but does not yet extend to Liberty's neck and jaw. Possibly as few as half a dozen exit today in Uncirculated condition. That said, this handsome coin is the finest certified by NGC, with none finer. The surfaces show green-gold color and are filled with semi-reflective mint bloom. There are a few surface lines through the portrait, some adjustment visible on the segments at the upper left edge on the obverse. A couple of faint flakes present in the left obverse field can be used also as identifiers. Both sides are very bold for this issue. On the reverse in particular, the strike is solid on the eagle's breast and most of the neck feathers, with both legs also showing ample if not quite complete detail. Best of all, there are none of the usual numerous small abrasions that plague early small eagle $10 gold pieces, none at all! That makes this is a fabulous opportunity for the specialist to acquire a rare issue, the rarest of the three years the small eagle was produced, and in spectacular condition for that matter. Pop 1, the finest graded at either NGC or PCGS (PCGS # 8555) .
Die notes: The first variety of 1797 uses the same reverse die from 1796. Though this marriage followed the 1796 marriage in the emission sequence, the 1796 obverse and this reverse was paired again for a brief run after the 1797-dated pieces were made. Taraszka-7 is nearly always seen with a crack from beyond star 16 as described above. The reverse palm branch has eleven fronds. There is a center die punch lump on breast at the junction with the left wing. The tip of the palm branch points to the right of the serif of the left foot of A. A short die imperfection extends from below branch end.
Estimated Value $450,000 - 500,000.
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| Realized $448,500 |
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