Lot 1304
1843. NGC graded AU-58. Only 75,462 struck, of which merely 175 examples are estimated to have survives. A low-mintage Philadelphia Mint Eagle from the 1840s. By 1838, Congress had reduced the weight and fineness of the Eagle to 16.718 grams and .900 gold, respectively. These reductions, though slight, were deemed adequate to discourage the widespread hoarding and exportation that plagued the denomination earlier and led to the Eagle’s suspension in 1804. Mint Director Robert Maskell Patterson received orders to resume coinage in July 1838. A new design was selected: the Coronet or Liberty motif of Acting Mint Engraver Christian Gobrecht. The portrait of Liberty is similar to the head of Venus used in Benjamin West's recent painting Omnia Vincit Amor, and the reverse eagle is more realistic than either of those which appeared on the Capped Bust Right Ten of 1795-1804. Gobrecht's original model was in use only through June 1839, after which he redesigned Liberty's portrait to the version that would remain essentially unchanged through 1907. One final, major design change took place in 1866, and that was the introduction of the motto IN GOD WE TRUST on a scroll in the upper-reverse field. That year, therefore, forms a convenient break in this long-lived series, with pieces struck from 1838-66 displaying the No Motto type and those of the 1866-1907 era the Motto type. The No Motto series is extremely tricky to pursue since many issues are rare in an absolute sense and many unavailable in Mint condition. Pop 21; 5 finer, 1 in 58 Star, 3 in 60, 1 in 61. (PCGS # 8588) .
Estimated Value $5,000 - 5,250.
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| Realized $5,875 |
