1803 $10 Small Reverse Stars MS(PCGS#8565)

Winter 2022 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

4030

等级

MS60

价格

355,941

详细说明

Fascinating 1803 BD-5 Eagle With CAC Verification Rare Mint State Quality Example of the Extra Reverse Star Variety The Coin that Completed the Jacobson Die Variety Collection 1803 Capped Bust Right Eagle. BD-5, Taraszka-30. Rarity-4+. Large Reverse Stars, Extra Star. MS-60 (PCGS). OGH--First Generation. Type and Style:Type II: Capped Bust Right, Heraldic Eagle. Style VII: Head of 1795 with 13 large stars arranged eight left, five right; Reverse of 1799 with 13 large stars in the field below the clouds and a short, thick neck on the eagle. The head and eagle punches are attributed to hubs prepared by Robert Scot. Die Variety: BD-5, Taraszka-30, Breen 1-E, HBCC-3199. This variety represents the fifth of six uses of this obverse die, the only one of the 1803-dated issue, and the only use of this reverse die. The reverse die is easily attributable due to the presence of a tiny extra star within the final cloud. This feature is discernible with patience on the present example. On some coins, however, the star is absent due to striking deficiencies and/or wear. On such pieces, the space between the eagle's left talon and the final letter A in AMERICA confirms the Extra Star reverse and, by extension, the BD-5 attribution. On the only other Large Reverse Stars variety of the 1803 eagle, BD-6, the eagle's left talon is joined to that letter. Die State: BD Die State g/b. This is the later of only two known die states for this die marriage. When Mint personnel retired the extensively clashed and badly cracked reverse die of the 1803 BD-4 pairing, they also relapped the obverse die to remove all but the barest trace of clashing between the top of Liberty's cap and the letter L in LIBERTY. This is the only known obverse die state for the 1803 BD-5 variety. The reverse is in its later state with a crack from the lower border, through the tail, along the lower right border of the shield, and into the eagle's left wing. There is a faint clash mark in the field above the eagle's head. Presumably the aforementioned crack eventually resulted in the failure of this reverse die and its retirement. Estimated Mintage for the Issue: According to Walter Breen, the mintage for the 1803-dated eagle is 15,017 coins, divided into 8,979 pieces for the Small Reverse Stars Guide Bookvariety and 6,038 coins for the BD-5 Large Reverse Stars, Extra Star die pairing. Most numismatic references, including the Guide Book, have long accepted this figure for the 1803 eagle. The author further divides the Small Reverse Stars mintage into 4,816 coins delivered on August 19, 1803, and 4,163 coins delivered on November 19, 1803. Breen attributes the 6,038 eagles delivered from June 1 to December 11, 1804, to the BD-5 Large Reverse Stars, Extra Star variety. Dannreuther, however, provides a range of 13,850 to 20,450 eagles struck from 1803-dated dies, the higher estimate likely closer to reality since we know that the 1803 BD-6 is a backdated variety struck after the 1804 BD-1 and, hence, is not included in Breen's estimate given above. Estimated Mintage for the Variety: Dannreuther estimates that 3,000 to 5,000 examples were coined from the 1803 BD-5 dies. Estimated Surviving Population for the Variety: Ninety to 110 coins are believed extant in all grades (per Dannreuther). Strike: The strike is above average for the issue, with even Liberty's lowest hair curl well defined, and other aspects likewise bold. Surfaces: A highly desirable early gold coin, one that is far finer than the MS-60 rating on the PCGS "rattler" holder might suggest. Satiny bright medium gold surfaces show natural pale green and rose-russet highlights, as well as exceptional mint luster. The nearly pristine-looking fields are free of troublesome marks and show only the most insignificant blemishes, and those only under close inspection. Some vestiges of planchet adjustment (as made) are seen on the reverse, with batches crossing the eagle's breast and uppermost horizontal stripes in the shield. Commentary: The 1803 BD-5 is one of the most readily attributable and eagerly sought varieties in the entire Capped Bust Right eagle series of 1795 to 1804. Although this die marriage had been confirmed prior to that time, Harry W. Bass, Jr. appears to have been the first numismatist to notice the extra star feature on the reverse when he acquired an example in 1966. This discovery was the catalyst that launched Harry into his career of die studies of gold coins from 1796 to 1834. The extra star is much smaller than those used in the primary obverse and reverse designs, so it seems likely to some observers that it was added to the reverse intentionally by a Mint employee as a way to identify this die. This is only a theory, however, and as Dannreuther so eloquently puts it, "This is another early gold mystery that defies explanation." With 90 to 110 coins believed extant, BD-5 ranks behind only BD-3 as the second most frequently encountered die marriage of the 1803 eagle. As a perusal of our past sales makes clear, however, the finest examples typically offered in today's market are certified AU-58. As a solidly graded and aesthetically pleasing Mint State survivor, the coin offered here is rare from a condition standpoint and would serve as a highlight in the finest type or variety set. With his acquisition of this coin from our April 2022 sale of the Andrew M. Hain Collection, our consignor became only the third numismatist to complete a set of early ten-dollar gold eagles by die marriage, after Anthony J. Taraszka and the owner of the Tyrant Collection. Provenance: From the Harvey B. Jacobson Jr. Collection. Earlier from our sale of the Andrew M. Hain Collection, Spring 2022 Auction, lot 3158. The old style PCGS insert uses coin #8565, which is now reserved for the Small Reverse Stars Guide Bookvariety of the 1803 eagle. PCGS# 88565. NGC ID: 2629. Click here for certification details from PCGS.