1799 Capped Bust Right Eagle. BD-6, Taraszka-18. Rarity-5. Small Obverse Stars. MS-61 (PCGS).Type and Style: Type II: Capped Bust Right, Heraldic Eagle. Style VI: Head of 1795 with 13 small stars arranged eight left, five right; Reverse of 1799 with 13 small 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-6, Taraszka-18, Breen 3-B, HBCC-3187. This variety represents the third and final use of this obverse die and the first of two uses of this reverse die. On the obverse, the digits 17 in the date are close and the second 9 is slightly higher than the first. Stars 2, 3 and 4 are lightly repunched, star 8 presents two points to the back of Libertys cap, star 9 lightly touches the letter Y in LIBERTY below the right serif, and star 13 is relatively distant from the end of Libertys bust. The reverse exhibits several small, shallow rust lumps in the field before and within the letter U in UNITED, a diagonal die line between the upright and right serif of the letter T in the same word, and a short spine from the upper edge of the third feather from the top of the eagles left wing tip. Star 1 is clear of the eagles beak.Die State: BD Die State e/b. This is the later of two die states known for this variety. The obverse exhibits numerous cracks inherited from its use in the 1799 BD-5 pairing (Die State c): from the border through the top two points of star 8 into the back of Libertys cap; an erratic rust-like crack from the field above the top of Libertys cap to the field between the letters LI in LIBERTY; from the border above the right edge of the letter L through the top of the letters IBERTY; from the border above the letter E to the right edge of its upright; between stars 9, 10 and 11; from star 7 to the scarf below the back of the cap; from star 3 through Libertys lower hair curls into the back of the bust above the digits 17 in the date. In this later die state, the crack through star 8 is much heavier with considerable crumbling, and there is also now crumbling associated with the crack along the tops of the letters ERTY in LIBERTY. The cracks from star 7 to the scarf and from star 3 into Libertys hair and bust are more pronounced, there is a new crack along the outside of stars 3 through 8, and there is crumbling in the dentils outside star 1 and below the digits 17 and the first 9 in the date. The reverse exhibits no cracks or clashing, but it has been lapped with the tops of the first four clouds incomplete.Estimated Mintage for the Issue: The conventionally accepted mintage has been 37,449 coins for the 1799 Capped Bust Right eagle issue, based on Walter Breens assumption that all of the coins delivered between May 14, 1799, and September 4, 1800, were from 1799-dated dies. After careful study, Dannreuther provides a revised range of 31,750 to 46,250 pieces produced, the lower estimate allowing for the possibility that some 1797 BD-3 and/or BD-4 coins were included in Breens 37,499-piece mintage, and the upper estimate allowing for the possibility that some 1799-dated eagles were also included in later deliveries.Estimated Mintage for the Variety: Dannreuther estimates that 1,500 to 2,000 examples were coined from the 1799 BD-6 dies.Estimated Surviving Population for the Variety: Only 35 to 45 coins are believed extant in all grades (per Dannreuther).Strike: This is a sharply struck example with the only mentionable softness of detail confined to star 10 on the obverse and the opposing design feature on the reverse, i.e. the tip of the eagles left wing. The dentils are uniformly full around both sides, the strike ideally centered on the planchet.Surfaces: Lustrous satin surfaces are warmly toned in deep golden-orange. A touch of glossiness to the texture and wispy handling marks are noted for accuracy, but the appearance is smooth and appealing. There is a tiny, shallow planchet flaw in the reverse field at the left edge of the shield.Commentary: We believe that only a single reverse die state of this variety is known, identifiable by lapping that has effaced the top of the first four clouds. Dannreuther notes lapping as the diagnostic feature of Reverse Die State b of the 1799 BD-6 eagle, and he states that the Bass III:562 coin is an example of the earlier die state (a) with no lapping. That coin, however, also has incomplete clouds and, since we can find no other evidence of lapping on the present example, we believe that the lapping which defines Die State b has effaced the top of the clouds. Additionally, all other 1799 BD-6 eagles with which we are aware show incomplete clouds; Taraszka even includes this feature among the diagnostics of this reverse die (top of first four clouds incomplete). Since we are confident that Reverse Die State a of this variety is currently unknown, either the die was lapped before it was put into production or no perfect reverse die state coins have survived.BD-6 represents the final use of this obverse die, which was earlier used in the 1799 BD-4 and BD-5 marriages. The reason why the Mint finally retired this die is readily evident on the present example: the crack through star 8 into the back of Libertys cap had expanded to the point where the die was no longer viable. The reverse die, however, remained in use with a new obverse die to produce more than 10,000 examples of the relatively common 1799 BD-7 variety.BD-6 vies with BD-2 as the most readily obtainable of the first six die varieties of the 1799 eagle, although we stress that all are scarce to rare. As one of no more than 45 examples believed extant, this impressive Mint State coin is a highlight of the Taraszka Collection and is sure to see spirited bidding among early gold enthusiasts. This coin is included in the list of Significant Specimens for the variety in the Taraszka early eagle reference.From the Anthony J. Taraszka Collection. Earlier from our (Bowers and Merenas) Massachusetts Historical Society Sale, November 1994, lot 2419. The plate coin for the die variety in the book United States Ten Dollar Gold Eagles: 1795-1804 by Anthony J. Taraszka.
