1799 Capped Bust Right Eagle. BD-7, Taraszka-19. Rarity-3. Small Obverse Stars. MS-62 (PCGS). CAC.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-7, Taraszka-19, Breen 4-E/B, HBCC-3188. This variety represents the first of two uses of this obverse die and the second of two uses of this reverse die. The obverse exhibits a pronounced slant to the right for the digits 17 in the date, the final digit 9 is close to the bust, and star 9 nearly touches the letter Y in LIBERTY below its right serif. 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 f/d. This is the latest known die state of this variety, and it is a remarriage struck after all known examples of the 1799 BD-8 eagle (see below). The obverse exhibits crumbling within the dentils outside stars 1 and 2, as seen on the Die State b/b example from this die pairing offered above, as well as on the 1799 BD-8 coin offered below. In this latest known die state of the 1799 BD-7 remarriage, there are now several additional cracks: through stars 1 to 8 and branching into two cracks as it continues to the border past star 8; a second crack between stars 4 and 5; from the upper border through the letter E in LIBERTY to the top of the curl at Libertys forehead; through the letters TY and stars 9 to 13. There is additional crumbling within the dentils outside stars 7 and 8, as well as a short crumbling crack at the border outside star 12. The die is lightly clashed at the base of Libertys bust above the final digit 9 in the date. The reverse die cracked shortly after being put back into production, and in State d it exhibits a short break from the border to the tip of the third feather from the top in the eagles right wing.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 10,000 to 15,000 examples were coined from the 1799 BD-7 dies.Estimated Surviving Population for the Variety: Two hundred and fifty to 350 coins are believed extant in all grades (per Dannreuther).Strike: This is a sharply struck example with virtually all design elements fully rendered. Most of the eagles feathers are crisply delineated, and most of the strands in Libertys hair are fully separated. The borders are boldly and uniformly denticulated, the strike expertly centered on the planchet. There is extremely minor softness of detail to star 11 on the obverse and at both of the eagles wing tips on the reverse.Surfaces: Delightful golden yellow surfaces are fully lustrous with a satin to softly frosted texture. Both sides are very appealing with a strong claim to an even higher Mint State rating. A concentration of tiny, shallow marks in Libertys hair behind the eye should serve as an identifying feature.Commentary: One of the most interesting coins in the Taraszka Collection from the standpoint of die state, the advanced state of the obverse confirms that this is one of the 1799 BD-7 eagles struck after the 1799 BD-8 press run. Due to their extensive study of die varieties and states in this series, both Harry W. Bass, Jr. and Anthony J. Taraszka were aware of the remarriage of the 1799 BD-7 dies, the latter noting: Most specimens [of this variety] are a die remarriage struck after the 1799 [Taraszka-20]. We find it interesting that Mint personnel made the initial decision to retire this die for it seems to have suffered no early injury apart from that which may have been effaced through the lapping that also removed portions of the first four clouds. Even so, the die remained in use for a period of time after this lapping, as evidenced by the existence of the 1799 BD-7 coin in Die State b/b offered above.Nevertheless, the Mint initially replaced this reverse die with that of the 1799 BD-8 variety, although that die failed early due to the development of numerous peripheral cracks (see below in our description for the 1799 BD-8 eagle). The coiners then retrieved the perfectly functional reverse of the 1799 BD-7 pairing and went on to strike more coins from that die remarriage. In fact, if Taraszkas statement above is correct then most of the 10,000 to 15,000 coins struck from this die pairing were delivered from the remarriage, suggesting that the reverse still had plenty of life left in it when it was initially withdrawn from production.As one of the most attractive Mint State coins in the Taraszka Collection, this lustrous and vivid example is sure to please even the most discerning early gold enthusiast.From the Anthony J. Taraszka Collection. Earlier from our (Stacks) January Sale of 1995, lot 1369. The plate coin for the die variety in the book United States Ten Dollar Gold Eagles: 1795-1804 by Anthony J. Taraszka.
