Lot 1735
1799. Small star reverse. . BD-1, Breen-6433. PCGS graded MS-62. Lovely golden toning with semi reflective surfaces. On this variety, the 1 of the date is near the curl. On the reverse, the small stars are in a Cross Pattern. Danreuther estimates 1,500 to 2,500 pieces were struck from this die, but assigns a Rarity-5+ rating with a suggestion that only 35 to 45 are known!
Velvety to satin-like fields almost stagger under the weight of its highly lustrous golden color with minimal marks or hairlines and natural light frostiness. Struck with controlled precision throughout the outer peripheral areas, although somewhat weak and compromised (from worn dies?) at the following locations: eagle’s head and chest, the ribbon, and top (horizontal) shield lines. Liberty’s hair is mainly complete barring a flat area to the left of her ear as often seen on this Type. Choice rims free from marks; spot-free with a tiny coppery stain near the C of AMERICA which can be used for provenance tracing. Pop 11; 9 in 63, 1 in 64. (PCGS # 8081) .
Under the terms of the Coinage Act of 1792, the obverses of all the coins, copper, silver, and gold, had to depict Liberty, then as now an allegorical female figure. The reverses of the silver and gold coins had to depict an eagle. With those requirements in force, and a requirement that certain inscriptions appear on all the coins, mint engraver Robert Scot set to work in 1795 on the eagle designs.
The gold half eagle obverse depicts a bust of Liberty facing right and wearing a soft cap (not the pileus or Liberty cap found on the Liberty cap half cent and cent, among other U.S. coins). Liberty’s hair flows freely, down over her truncated shoulders.
LIBERTY occupies the under border above and to the right of the portrait, with stars arranged along the back of her head and from the Y in LIBERTY to the tip of the bust. The number of stars and their arrangement and exact positioning of LIBERTY vary from year to year.
Production was low in 1795-98. Production continued even lower when 7,451 coins for 1799 were issued, giving this issue of capped bust half eagle a strong edge over the more common 1802-07 period pieces.
Estimated Value $35,000 - 38,000.
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