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Sale 17
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Lot 1991
$5 Capped Bust. 1798. Large eagle, large 8, 13 star reverse, Breen 1-B, Miller-25, Rarity-4+. EF-40. Reported to be quite common by Walter Breen, who gave this variety only a Rarity-3 rating, subsequent research has shown it to be scarcer, and this die pairing is now regarded as a high Rarity-4 by the research conducted by Harry Bass and the staff at Bowers and Merena. In particular, this coin shows minor hairlines and handling ticks from brief circulation, and the surfaces have a hazy appearance. Traces of adjustment marks above the date, but these are very faint at best. Surprisingly well struck considering the shattered state of both the obverse and reverse die, with no signs of weakness on the devices. One of the most peculiar features of this coin is the strong die line below the date. Breen stated that it was his belief that this was a guide line cut into the die by the ailing Mint Engraver Robert Scot, the guide lines purpose was to help locate the base of the date punches while the die was being engraved. Several additional traces of this guide line can be seen on the obverse near the dentils on the left side, and traces continue above RT of LIBERTY, perhaps as a guide for the placement of the lettering there as well. We tend to agree with Breen that this broken line is a guide line cut into the die for layout purposes instead of calling these lines die cracks as others have done. In the superb Harry Bass Foundation notes (harrybassfoundation.org) this particular variety Breen 1-B is seen and these lines are described as die cracks in the detail notes posted on their web page.
The obverse die shows cracks, two to the first star, one of which continues up into the left field, and another branch up the back of her curls just touching her cap where it takes a right turn for a few millimeters, and then extends vertically again up through the top of Liberty's cap to the rim above. Rim crumbling is seen above star four and eight. The reverse die displays even more cracks, one from the rim to the left wing, third feather down towards the center, another down from the rim through the second S of STATES to the eagle's eye and below, another through the top feather of the right wing, above the wing through the two stars behind the eagle's head, his neck, and seems to stop as it touches the left side of the ribbon, and another crack from the lower rim up through the end of the branch stem, up through the shield into the eagle's neck. Most of these cracks seem to join up on or near the eagle's neck. One less developed crack extends from one arrow point up into the shield to the B of PLURIBUS, and faintly towards the N of UNITED. Rim crumbling below the left two feathers of the eagle's tail.
Estimated Value $2,200 - 2,700.
From the Benson collection and purchased from Ira S. Reed on May 29, 1944 for $40.00 as "uncirculated".
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| Realized $9,200 |
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