Lot 1465
1795 $10 Capped Bust. 13 leaves below eagle. . Tar-1. NGC graded MS-60. An important type coin that is scarce in high grades, especially in Mint State. This one has been cleaned with the usual resulting hairlines in the fields and on the devices. However, this is the normal state of affairs for these large, early soft gold coins. Collectors have cherished these for centuries, and somewhere along the line, virtually all show some signs of cleaning or minor hairlines. Examination shows a few adjustment marks through Liberty's hair, and more on the reverse rim and a couple across the eagle's proud breast. Frosty luster in the fields, with only a few trivial handling marks. As to the strike, it is very bold and most of the fine details are present on this coin.
The Philadelphia Mint had to post an expensive bond in order take precious metal consignments. The need for coinage was very great in the new country, and copper was the most available for coinage. Soon the silver and gold bond requirements were met, and in 1794 silver coinage began, and later in 1795 gold coinage too. This is one of the first gold coins produced at the Philadelphia Mint, and Breen notes that these were struck from September 27, 1795 until March 30, 1796. Further, some coins from this die pairing are believed to be presentation pieces, which likely confirms that this die pairing was the first struck. No doubt many important luminaries from American history were able to examine coins soon after they were struck, and think how proud they were to see the new coinage in gold, coming from their own Philadelphia Mint. Clearly, this is an important piece of American history and culture, and we know a true collector will always treasure this coin in the future, as it has been treasured in the past.
Estimated Value $35,000 - 40,000.
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| Realized $31,050 |
