Lot 3422
1799 $10 Capped Bust BD-7, Rarity 3. NGC graded MS-62. Well struck with some "chatter" marks in the obverse field. Production of gold Eagles improved to 37,449 coins for 1799, giving this issue of capped bust eagle the second highest mintage for the series. While all of the obverse dies of 1799 bear 13 stars arranged eight and five, two different star punch sizes were used; the resulting varieties are known as Small Stars and Large Stars. The numerals in the date are spaced variously: Some coins have a Close Date, some a Wide Date, and others an Irregular Date. Ten die varieties are known for 1799, representing the combinations of five obverse dies and seven reverse dies. BD-7 uses the Small Stars obverse in which the 17 in the date is tilted right, while star 13 is away from the ribbon and another star is away from the beak.
The 1799 is among the more frequently encountered Eagles of this classic 18th century/early 19th century type, a mentioned, being the second most common Capped Bust Right $10 after the 1801. Yet, all pre-1838 U.S. gold Eagles are rare from an absolute point of view, the survivors being narrowed to possibly 1% to 2% of the original mintage. This is certainly the case with the popular 1799 issue, and the rarity of survivors such as the present Mint State 62 is a constant reminder to specialists in the series.
Solidly graded for the issue, this lustrous coin ranks with a fair number of other representatives at or around this grade. A rich endowment of greenish-gold color attracts the viewer on both sides, and it is fully appreciable even after a perfunctory glance at the surfaces. Also readily visible is a mint luster that precludes even a hint of friction on the high points. A sharply struck, well preserved offering that would make a appropriate addition to an early type set of U.S. gold. Pop 43; 114 finer, 61 in 63, 48 in 64, 5 in 65.
Estimated Value $25,000 - 30,000.
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