Lot 2358
1795 $5 Capped Bust. Small eagle. . BD-1, Breen-6412. NGC graded AU-58. Nice golden toning on both sides. Some minor granularity in the lower hair curls and spaced around some of the stars points to die rust, likely from storage between the time the die was made and its first use. Lustrous, mint-frosty surfaces put on a show with their rich pale gold and natural iridescence, the overall appearance greatly reinforced by ample luster. Regarding this date, the small eagle fives were introduced in 1795 as the earliest gold issues by the First Philadelphia Mint. Because this is a coin meant for international trade and circulation, where foreigners would be handling the pieces, the mint saw to it that quality was, to borrow a phrase from Yogi Berra, "job one." And it shows. The present coin has very sharp stars and a full accompaniment of wavy hair on the obverse. Liberty's profile is smooth, uncluttered by abrasions. Her eye lids shows; her nose is finely detailed; the lips complete and a firm chin below. Switching to the reverse, inspection (and the clear photos) reveal sharp wing feathers on the eagle, most of the chest plumage full, and a sharp wreath above. All letters are crisp as well. The rims complete and without breaks caused by nicks or bumps (PCGS # 8066) .
Die note: BD-1 preceded BD-2, as the reverse use here is an earlier state. The obverse of this variety is cracked and was retired. According to the Dannreuther reference, "Delivery Warrant 1 was for 744 coins, so even if all of that production were BD-1 coins, it still is a scarce 1795 variety. This variety does fit the characteristics expected for the first variety struck, i.e., one of the four wide dates (used for BD-1 to 6), 4 reverse berries, and so on."
Estimated Value $45,000 - 48,000.
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| Realized $57,500 |
