Lot 710
Half Eagle. 1798. Small Eagle Reverse! PCGS graded EF-40. An extremely rare coin indeed, with the long reported number of 7 known in all grades. This is borne out by PCGS, which has only graded 2 coins, both Extremely Fine 40, NGC has only graded a single coin, it an Extremely Fine 45 of the 1798 Small Eagle. The color and surfaces are quite nice for the grade, without the usual distractions of heavy adjustment marks or other circulation abuse. There are some hidden adjustment marks running vertically through Liberty's cap and curls just below, as well as a hidden mark in the central curls below Liberty's ear. The reverse is very choice, with nothing but gentle wear on the upper feathers of the eagle. There is a small planchet flake at the top of the second T of STATES. Long listing in the Guide Book and in Breen's Encyclopedia have failed to turn up others. A review of the great collections fails to turn many up, most advanced gold collectors never have a chance to purchase this rarity. Another 1798 Small Eagle recently sold by private treaty for over $300,000, giving an indication of how rare and desirable this coin is.
The obverse die has guidelines below the date where Breen speculates that engraver Scot fumbled his way to place the dentils, seen on the few surviving examples. An impossible rarity to locate, and worthy of a record price.
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