1796 $10 BD-1 MS(PCGS#45715)

August 2019 ANA U.S. Coins Auction Rosemont, IL

拍卖行

Stack's Bowers

批号

4007

等级

AU58

价格

698,792

详细说明

Semi-Prooflike 1796 Eagle Scarce and Highly Significant Issue 1796 Capped Bust Right Eagle. BD-1, Taraszka-6, the only known dies. Rarity-4. AU-58 (PCGS). Type and Style:Type I: Capped Bust Right, Small Eagle. Style III: Head of 1795 with 16 stars arranged eight left, eight right; Reverse of 1796 with 11 leaves on the palm branch. The head and eagle punches are attributed to hubs prepared by Robert Scot. This issue represents the only use of Style III in the Capped Bust Right eagle series. Die Variety: BD-1, Taraszka-6, Breen 1-A, HBCC-3174. This is the only known die marriage for the 1796 Capped Bust Right eagle, the reverse also used to strike all known 1797 Small Eagle tens. Die State: BD Die State c/b. The obverse exhibits a light crack that begins in the field below the letter E in LIBERTY and continues through Liberty's cap and the hair behind the ear before terminating at the edge of the bust above the digit 9 in the date. A second, considerably smaller crack is present from star 15 to the border. The reverse is lightly clashed, evidence for which is seen within the top of the wreath below the letters TES in STATES. This is the penultimate die state known for this variety. Estimated Mintage for the Issue: The mintage for calendar year 1796 is 4,146 coins, per Mint records. Dannreuther estimates that 3,500 to 4,146 eagles were struck from the only known 1796-dated die pairing. The author's lower estimate allows for the likelihood that many 1795-dated eagles were delivered during calendar year 1796. Additionally, the existence of a single 1796 eagle in BD Die State d/c confirms that some 1796-dated coins were also struck in 1797 (see below). Estimated Mintage for the Variety: Since there is only a single die variety known for the 1796 eagle, the estimated mintage for the variety is the same as that for the issue. Estimated Surviving Population for the Variety: Dannreuther provides an estimate of 125 to 175 coins extant in all grades. Strike: The strike is impressive by the standards of the early United States Mint, the impression nicely centered on both sides within boldly and uniformly denticulated borders. The stars, branch and wreath are sharp, and Liberty's portrait and the eagle's plumage are full apart from trivial softness to the high points of Liberty's cap and bust, as well as the eagle's head, breast and legs. Surfaces: Vivid golden yellow patina is seen on both sides of this beautiful early eagle. The finish is semi-prooflike with the fields retaining plenty of reflectivity. Wispy handling marks are most readily evident on the obverse over and around Liberty's portrait; closer inspection with a loupe also reveals numerous light, crisscrossing adjustment marks (as made) within the hair strands behind the ear. Commentary: This is a scarce early eagle, not as rare as the 1797 Small Eagle, but appreciably scarcer than the first year 1795. The 1796 is also highly significant to those who study and collect die varieties and die states of early eagles. It is the first eagle that displays 16 stars on the obverse. Clearly the only known obverse die of this issue was prepared after Tennessee's admission to the Union as the 16th state on June 1, 1796. The reverse die is also significant due to its introduction of 11 leaves or fronds on the palm branch, likely the culmination of experimentation on the part of Mint personnel that began with the use of 13 leaves on most reverse dies of the 1795-dated issue and also saw the creation of the famous and scarce 1795 BD-3 9 Leaves variety. This reverse die would finish the Small Eagle series with its use in both the 1796- and 1797-dated issues. Finally, the 1796 as an issue is significant to variety specialists because it includes the first confirmed remarriage in the early eagle series. At least one 1796 eagle is known in BD Die State d/c, the reverse with a crack from the border through the right side of the letter O in OF to the wreath. Since this reverse also was used to strike all known 1797 Small Eagle tens, all confirmed examples of which do not display this crack, clearly some 1796-dated coins were struck after the 1797 Small Eagle pieces. The often-seen prominent obverse die crack on the 1797 Small Eagle coins likely resulted in the demise of that die and the brief return of the 1796-dated obverse to production (see below, in our description for the 1797 Small Eagle coin in this collection). For advanced type collectors or dedicated early eagle variety specialists, this premium quality 1796 holds tremendous appeal and is worthy of strong bids. Provenance: From the Anthony J. Taraszka Collection. Acquired from Mid-American Rare Coin Galleries at the Detroit ANA Convention, August 1994. The plate coin for the die variety in the book United States Ten Dollar Gold Eagles: 1795-1804by Anthony J. Taraszka. PCGS Population: 17; 11 finer (MS-63 finest). PCGS# 45715. NGC ID: BFYM. Click here for certification details from PCGS.