Lot 2495
1795 $10 Capped Bust. 13 leaves below eagle. PCGS graded AU-55. Old green holder. The mintages were small on this denomination because little demand existed domestically for $10 eagles. The first United States Mint struck coins to order back then, for the most part. Bankers and others deposited their silver or gold with the Mint, often in the form of foreign coins, which the Mint's workers turned into Federal coinage and then delivered to the owners of the precious metals.
Those depositing gold with the Mint in the first years had a preference for the more convenient $5 half eagles to the $10 eagles, ordering more of the smaller denomination than the larger. As best as we can understand, the eagle was too large for small transactions but too small for convenient transportation or storage of large sums. Many 1795-1804 eagles were exported.
Striking gold eagles that were only going to be exported or melted was wasteful of the Mint's production capacity. Production of this denomination ceased in 1804, therefore, possibly under the orders of President Jefferson. The halt in production for the gold eagle proved lengthy. It wouldn't be struck for circulation again until 1838, at the second Philadelphia Mint.
This lightly circulated 1795 13-leaves specimen has natural "old gold" patina and surfaces, with abundant luster and contrasting light-rubbed brownish gray highlights on the cheek, cap and shoulder. It is every bit as choice and natural as the photograph indicates, and should prove an exciting purchase for the successful bidder, offering hours of enjoyment and study. PCGS reports 27 with 66 finer (includes numerous repeats) (PCGS # 8551) .
Estimated Value $60,000 - 65,000.
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| Realized $83,375 |
