Lot 1451
1798. Large Eagle, Large 8, 13 Star Reverse BD-5, Rarity 5+. PCGS graded AU-53. Interesting die breaks. Mostly untoned. Well struck on the main devices; what's more, the coin survived 200 years of use (and coin collector stewardship) free from injury, almost a marvel in itself!
In BD-5, the date is wide with 89 level; the stars on the reverse arranged in a perfect cross pattern. This is an early half eagle variety that is very scarce, according to the Dannreuther reference, "one that many would consider rare with a few more than two dozen coins extant. The obverse must have failed rather quickly…and the reverse is paired with a 1799 obverse to create BD-2 of that date." RARE 1798 LARGE 8 HALF EAGLE VARIETY, BD-5, RARITY-5+ (PCGS # 8078) .
Although the Mint Act of April 2, 1792, provided for a gold half eagle of 135 grains weight, along with other denominations, coinage of gold did not commence until 1795, for the chief coiner and assayer were required to post personal bonds in the amount of $10,000 each before handling precious metals. When the Mint first produced coins for circulation in 1793 (copper cents and half cents), these requirements had not been met. By 1795 the bonds had been reduced in amount considerably, the chief coiner and assayer had fulfilled them, and gold coinage commenced. Issues of 1795-1807 have a Capped Bust head of Liberty.
Estimated Value $9,000 - 10,000.
The William H & Beuelaress K. Helem Collection.
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| Realized $18,400 |
