Lot 2058
1798 $10 Capped Bust. 8 over 7, 9 stars left, 4 right. . Tar-9. PCGS graded MS-61. Long considered to be very rare, enough recent appearances seem to support a population of closer to 100 rather than Breen's suggested 18-20 known (per his Encyclopedia). However, most of those known are circulated examples, unlike this lovely mint state coin here. Abundant luster in the fields and the devices are well struck by the dies. Moderate adjustment marks can be seen with a glass on the obverse, as made. It has long been considered that only 900 were struck, based on the Mint's official warrants for 1798, but more research needs to be done, as some 1797 coins were struck after this 1798, given advanced die state analysis done by Anthony Taraszka, making the Mints warrants a good guide, but not necessarily as straight forward as one might hope. All 1798 eagles are rare, and the date has long been held in high regard as so few are known when compared with many other dates in this series. This particular one should be identifiable from previous sales by a small spot just touching the middle of Liberty's neck, and a short line extending from the last S of STATES (this is a small planchet defect). Of course, with so few known in Mint State, there have only been a few auctioned over the years. This is not the Eliasberg or Carter coin, but might be the Baldenhofer or Davis-Graves specimen, or perhaps one that has escaped being memorialized in an auction until recently. PCGS has graded just 3 this high, with none graded higher. This will give an indication of just how truly rare this coin is in full mint state grades.
Estimated Value $50,000 - 70,000.
|
| |
| Unsold |
