Lot 1278
1804 $10 Capped Bust. NGC graded MS-63. In NGC holder 1910099-002. A far better than average strike for this issue and shimmers with intense mint luster. Some light die buckling in the field as always behind the hair. Wonderful original surfaces, slightly greenish-golden in color. The luster is very attractive with a shimmering, satin texture to the richly colored surfaces. Struck on a decent planchet with some faint adjustment marks noted on the reverse. Rare low mintage date as only 3757 were made, many of which were later melted when the weight and composition was lowered in 1838.
As the last eagle struck in the early Capped Bust series before a long hiatus ensued, the 1804 is an historically significant issue. Breen believed that only six Mint State pieces existed as of 1988 when his encyclopedia was published, while Akers found only 14 offerings of Mint State coins in five decades, many of them presumably reofferings. Fewer than 100 exist in all grades, undoubtedly including, again, some duplication.
The reverse for 1804 BD-1 was used for striking 1803, BD-6 of the previous year. Dannreuther suggests "the mintage totals for this year, already a scant 3,757, undoubtedly include some coins dated 1803!" He goes on to note that "most of the known example of this date/variety have blunt strikes." Pop 5; 1 finer by a point.
Estimated Value $150,000 - 175,000.
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| Realized $161,000 |
