1799 Capped Bust Right Eagle. BD-10, Taraszka-22. Rarity-3. Large Obverse Stars. MS-65 (PCGS). Secur This is a truly remarkable early eagle irrespective of date or die marriage that belongs in the finest gold cabinet. The strike is expertly centered with sharp to full detail over virtually all design elements. Bathed in lovely deep gold patina, the surfaces are vibrantly lustrous with a captivating satin texture. Otherwise close to pristine, a tiny mark in the lower right obverse field insides star 12 to 13 is mentioned solely as an identifying feature; a few faint adjustment marks in the upper reverse star field are as made and easily overlooked.The Mint Act of 1792 established the eagle to be the fundamental basis for Americas gold coinage which would be used in international commerce as an economic ambassador for the young nation.
It was not until 1795 that coinage of the denomination commenced. Designed by Robert Scot, the obverse of the new coin bore a representation of Liberty facing right flanked by stars while wearing a cloth freedmans cap, with the legend LIBERTY above and the date below. The reverse features an elegant yet somewhat scrawny eagle with spread wings holding a wreath in its beak, all the while clutching a palm frond in its talons. This simple and attractive design was used for all of three years until Scot completely redesigned the reverse to put forth more powerful and dramatic imagery. Scots Heraldic Eagle reverse was based on the obverse of the Great Seal of the United States: in the center is a large eagle with outstretched wings and legs with the national shield across its breast. In its left talon is a clutch of arrows and in its right talon an olive branch of peace. The placement of the arrows in the left or sinister claw stands in contrast to the Great Seal, where the olive branch takes that position of honor. Scot may not have been aware that this placement of the arrows conveys a more warlike posture in the language of heraldry. In the eagles beak is a ribbon inscribed E PLURIBUS UNUM.
Above its head is an array of 13 stars surmounted by an arch of clouds. The entire design is surrounded by the legend UNITED STATES OF AMERICA. The Heraldic Eagle reverse would be used until 1804 when production of the eagle was suspended for the next 34 years.The year 1799 proved to be an eventful year in our nations history. Two famed patriots, George Washington and Patrick Henry, died and were widely mourned across the nation. In Cabarrus County, North Carolina, a young Conrad John Reed found a shiny and very heavy yellow rock that turned out to be a gold nugget weighing 17 pounds, consequently igniting the first gold rush in the United States. Gold from the Southern states would in time form the principle source of the metal to the Mint until the vast discoveries in California in 1849. In this year, the production of the eagle was stepped up to significant levels after having been struck in modest quantities since its inception. According to Mint records, 37,449 coins were struck in two major obverse design varieties, Small Stars and Large Stars. A total of six obverse and six reverse dies were employed in a total of ten die combinations: eight die pairings for the Small Stars variety and only two pairings for the Large Stars. Of the two major varieties of the 1799 eagle, the Small Stars type is widely thought to have been the first struck and is the slightly scarcer of the two, albeit not by much. At some point the Small Stars punch with long and thin points broke and a new punch was prepared with stars that are shorter but much "fatter and puffier," as Garrett and Guth note. The resultant obverse die, Bass-Dannreuther Die 6, was mated to two reverse dies Bass-Dannreuther Die E and Die F, and used for the remainder of the year, producing an estimated 13,000 to 18,000 coins from these two pairs.
The BD-10 reverse die can be easily distinguished from the BD-9 reverse die by the location of the lowest berry with relation to the last A in AMERICA. On the BD-10 reverse die (Die F), this berry is located directly under the right foot of the A, whereas on Die E used on the BD-9 pairing this berry is past the right foot of the A. A less obvious but no less important diagnostic is the location of the lowest left star in regards to the eagles beak - only on Die F are both the upper and lower beak points touching the star, on Die E, the star is free of the beak. Die F was later used for the only known 1800 die pair and one in 1801. Thanks to its comparatively generous mintage figure, the 1799 Large Stars eagle is one of the most available of the early eagles for todays numismatists.
Roughly 800 to 900 eagles of both varieties are thought to be extant. The BD-10 die marriage is by far the most available of the Large Stars coins with somewhere between 300 and 400 survivors, making it the most frequently seen of the 1799 eagles.Because of its overall availability, the 1799 Large Stars eagle has long been popular as a type coin for the design as well as for year collectors desirous of just one specimen. Harry W. Bass, Jr. on the other hand was an enthusiastic collector of the issue and amassed an impressive collection of 21 specimens for his cabinet, including two examples of the BD-10 variety. Despite the denominations very high purchasing power in its day, a small number in Mint State are known, primarily at the lower end of the spectrum. There are a few Choice Mint State specimens recorded, though the number of grading events is likely to be inflated somewhat due to resubmissions. Above the Choice level, as with many of the early gold issues, the 1799 eagle is a significant condition rarity with only a few that can lay claim as Gem. This is clearly an important and highly desirable coin that will elicit strong bids from quality conscious gold collectors.,,PCGS# 8562. NGC ID: 2623.,PCGS Population (both die marriages of the Large Obverse Stars variety): 7; 3 finer (MS-66 finest).,
