No true Mint State examples known, however about a half dozen are very close. -- Robert W. Miller, Sr., United States Half Eagle Gold Coins 1795 to 1834, 1997.Pale yellow gold with lustrous surfaces, almost glossy in character, and blushes of orange on high points that have witnessed a trivial degree of wear. Sharp and appealing, subjected to only a brief and uneventful stay in circulation. Light hairlines are visible, along with a scattering of minor handling marks. A trio of marks in a row from star 5 to the base of Libertys cap is seen, matched by a trio of short scratches in the small space between the tip of her cap and the rim. Two shallow abrasions are seen in the upper left obverse field inside of stars 7 and 8. The reverse shows some shallow adjustment marks, best visible in the space between STATES OF and the clouds below, but somewhat able to be made out elsewhere, always in the same parallel pattern. Several scattered lintmarks and similar impressions are seen on both sides, including a short curved lintmark inside the base of the 8 in the date, a longer curve from Libertys forelock, two under IT of UNITED, and a few smaller ones elsewhere.While the obverse die is in good shape, the reverse die has already exerted itself past the boundaries of its steel. The cracks converge at a heavy break just right of center amidst the azure of the shield, splaying out from that point to star 13 and F of OF, the top leaves of the olive branch and E of AMERICA, the olive branch stem and the right lower serif of the second A in AMERICA, the arrow butts, and US of PLURIBUS and star 13. Other cracks cross the fourth feather down on the wingtip at left to E of the motto, the left side of the first T in STATES to cloud 1 and the first A of AMERICA to the wing. Trying to remove these cracks early in their lifespan, coiners lapped this reverse die heavily, hollowing the wing at right and several leaves on the olive branch. This die state is equivalent to the latest state documented in the Bass-Dannreuther work, called reverse state d and considered terminal.Though fewer than 50 specimens are known in all grades, Harry Bass was fascinated enough by the fine variations between die states of this variety that he amassed four examples. There is much to intrigue the specialists here, including fine die cracks that seem slightly different on every known specimen and the only use of the sole 14-star reverse in the early half eagle series. As Dannreuther notes in the Bass-Dannreuther book, the rarity of this die variety stems from "an early failure of this reverse, as the obverse is still in perfect condition for the second pairing." The obverse would survive through a substantial production run of the marriage known as BD-4, one of the more easily located 1798 varieties today.David Akers reported decades ago that "when available at all, VF or so is about all one can expect." Even when encountered in reasonably high grades, many specimens (including the high grade pieces in the 1946 Boyd and 1956 Melish sales) show an area of soft striking that renders one of the 14 stars nearly invisible, which perhaps defeats the purpose of collecting one. Though such an area of soft striking behind the eagles head is commonplace, that star is struck up boldly here.When this piece reentered the marketplace in the 1999 Bass II sale after an absence of 23 years, it was the finest PCGS-certified example of this variety to have ever sold. After two additional Bass sales, and 16 more years, that statement remains true today.
