Lot 3276
1795 $5 Capped Bust. Small eagle. PCGS graded MS-64 PQ. BD-3. PCGS #50189862. Well struck and a hint of light toning. Very choice Premium Quality example for the grade. One of the finest known and Condition Census. Resplendent surfaces that are thoroughly frosted with keen-edged, greenish gold to yellow-gold luster strengthening outward from the centers. Taking stock of another key aspect of the grade, this piece has knife-edged devices throughout, including centers, rather than a soft, mushy strike as most often seen. This gives the coin an appreciable advantage over others in its class.
Though a number of Mint State survivors of the 1795 half eagle issue survive, most are among the lower positions of the Mint State grading scale. The 1795 half eagles were the very first gold coins issued by the U.S. Mint, with the first delivery of struck pieces occurring at the end of July, 1795. According to the Bass-Dannreuther guide "There is no doubt that there are fewer than 1,000 Small Eagle 1795 half eagles still available to today's collectors -- combining all the 12 varieties! The high estimates of the known survivors of the 12 Small Eagle varieties added together are only slightly more than 600 specimens. Even if the estimates are off by twenty percent, only 750 or so of these spectacular early American coins are known." Pop 6; 2 finer in 65 (PCGS # 8066) .
On this die variety, the date is wide and star 11 joins Y of LIBERTY. The wreath has 4 berries, and the upper leaf in the palm branch ends at the foot of I in United. This is one of the more often seen 1795 varieties with possibly 200 examples extant. The previous use of this obverse was on BD-2.
Estimated Value $270,000 - 290,000.
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| Realized $322,000 |
