Lot 2963
1797. Large Eagle BD-2 Rarity 4+. NGC graded AU-58. "Chicken Neck." Well struck on a problem-free planchet and light golden in color. When the quarter eagle went into production for the first time, in 1796, it bore the same obverse as on the eagle and half eagle, but a new reverse, generally known as the heraldic eagle.
It bears a somewhat more full-bodied eagle than on the small eagle design. The eagle gazes to the left on the new design and holds in its beak a ribbon inscribed E PLURIBUS UNUM, a Latin phrase connoting One Among Many. A shield is mounted on the eagle's breast. The eagle holds a bundle of arrows in its right talons (the viewer's left) and an olive branch in its left talons, and is similar to that found on the Great Seal of the United States.
UNITED STATES OF AMERICA encircles the design, as on the small eagle 1797. A semicircle of clouds stretches from wing to wing, with 13 stars positioned between the clouds and the eagle in arrangements that vary from die to die.
Mint engraver Robert Scot's new reverse was introduced on the Eagle in mid-1797, so coins of this year are found with both reverse design types. The estimated mintage of the 1797 capped bust, heraldic eagle $10 is 10,940.
The long thick necked eagle is a little known subvariety of the Large Eagle type of 1797. It has a different style eagle which makes it akin to a transitional reverse between the tall and short necked varieties. Because these devices were hubbed, the first reverse punch may have been modified to create this subvariety. The long thick neck eagle is unique to this variety, as are the other two eagles for BD-2 and BD-3. Highly lustrous and very choice, indeed one would say this is a superb AU58 specimen, the kind of quality that is ideal for the connoisseur of early Capped Bust gold. Pop 59. (PCGS # 8559) .
Estimated Value $25,000 - 30,000.
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