1798/7 Capped Bust Right Eagle. BD-2, Taraszka-10. Rarity-6-. Stars 7x6. AU-58 (PCGS). Secure Holder This breathtakingly beautiful example ranks among the finest known survivors of this rare and challenging die marriage. Vivid pinkish-rose peripheral highlights frame otherwise deep orange-gold surfaces. The appearance is exceptional and undeniably original for an early eagle.
The strike is expertly centered with bold to sharp definition throughout the design. Ample remnants of original luster remain and are a bit more extensive on the reverse.This is an intriguing variety of the Capped Bust Right eagle that represents a formidable challenge for collectors and numismatic researchers. BD-2 is the second of two die marriages known for the 1798/7 eagle, both of which are overdates but, interestingly, employ different obverses that are easily distinguished by the star arrangement.
These two varieties share the same reverse, however, which the Mint also used to strike the 1797 Heraldic Eagle BD-3 variety. Since the 1797 BD-3 is only known in a later reverse die state, it was clearly struck after both of the 1798/7 varieties. In turn, a later state for the shared obverse die also confirms that 1797 BD-4 was struck after 1797 BD-3 and, consequently, after both of the 1798/7 varieties. These die lineages open the possibility that many of the eagles delivered by the Mint during calendar year 1798 were actually struck from 1797-dated dies.
Popular numismatic references such as the Guide Book provide separate mintage figures for the two 1798/7 varieties: 900 pieces for the Stars 9x4 BD-1 and 842 coins for the Stars 7x6 BD-2. The latter is by far the rarer of these two varieties in numismatic circles and, since examples are only known in BD Die State b/b, it is likely that the Stars 7x6 obverse die cracked early and was withdrawn from production after delivering very few coins. John W. Dannreuther (2006) suggests that many of the coins included in the traditional mintage figure of 842 pieces for the 1798/7 Stars 7x6 were likely dated 1797. The author provides an estimated mintage for the 1798/7 Stars 7x6 of 300 to 842 coins, only 20 to 30 of which are believed extant in all grades.The 1798/7 BD-2 is highly elusive and enjoys consistently strong demand among early gold enthusiasts.
As such, survivors are even rarer from a market availability standpoint than they are in an absolute sense. Most remain tightly held in advanced collections for many years, if not decades. We suggest that interested parties prepare strong bids that will stand up to stiff competition when bidding opens for this lot.,,PCGS# 8561.,PCGS Population: 3; 3 finer (MS-62 finest).,From the Edgar B. Lupfer Collection. Earlier ex Rutherford, 1897; John H. Clapp; Clapp estate, 1942; Louis E. Eliasberg, Sr.; our (Bowers and Ruddys) sale of the United States Gold Coin Collection (Eliasberg), October 1982, lot 650; our (Stacks) sale of January 1987, lot 705. Stacks lot tag included.
