1799 Capped Bust Right Eagle. BD-10, Taraszka-22. Rarity-3. Large Obverse Stars. AU-58+ (PCGS). CAC.Type and Style: Type II: Capped Bust Right, Heraldic Eagle. Style VII: Head of 1795 with 13 large 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-10, Taraszka-22, Breen 5-G, HBCC-3191. This variety represents the second and final use of this obverse die and the first of three uses of this reverse die. The large size of the stars is definitive for this obverse die, the only one of the 1799 Large Obverse Stars Guide Book variety. Closer inspection also reveals repunching to the second digit 9 in the date. On the reverse, the tip of a leaf in the olive branch is joined to the right foot of the letter I in AMERICA and the lowest berry in the branch is under the right foot of the final letter A.Die State: BD Die State a/a. This is the earlier of only two confirmed die states of this variety. The obverse is perfect, as inherited from the 1799 BD-9 pairing, with no clashing, lapping or cracks. The reverse is also perfect with no clashing, lapping or cracks.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 12,500 to 17,500 examples were coined from the 1799 BD-10 dies.Estimated Surviving Population for the Variety: Three hundred to 400 coins are believed extant in all grades (per Dannreuther).Strike: Most design elements are boldly to sharply defined, the strike nicely centered on both sides with the borders fully and uniformly denticulated. A few isolated features are softly struck, however, including stars 3, 12 and 13 on the obverse, the bottom of Libertys bust, stars 3 and 4 and the adjacent clouds on the reverse, and the eagles wing tips.Surfaces: Beautifully toned surfaces exhibit vivid reddish-rose overtones that are boldest around the peripheries. Deep orange-gold patina is noted for both sides, as are ample remnants of soft satin luster. Wispy handling marks are commensurate with the assigned grade. A tiny planchet void in the reverse field at the left edge of the shield is the most useful identifying feature.Commentary: Along with 1799 BD-7, 1800 BD-1 and 1801 BD-2, 1799 BD-10 is one of the most readily available die marriages in the Capped Bust Right eagle series. This variety shares its obverse die with the scarce 1799 BD-9, the reverse die a replacement for that of the previous variety which failed early in the BD-9 press run. Given that several hundred coins are extant, 12,500 to 17,500 coins are believed to have been struck from the 1799 BD-10 marriage, indicating that both the obverse and reverse dies were quite well made by the standards of the early eagle series. Further evidence for the durability of these particular dies comes from the fact that neither of the two die states known for this variety display evidence of extensive cracks or other significant damage.A popular early eagle for gold type set purposes, BD-10 is also significant as the only realistically obtainable die marriage of the 1799 Large Obverse Stars Guide Book variety (the other, BD-9, is a significant rarity). This vividly toned Choice AU would certainly make a lovely addition to an advanced gold cabinet.From the Anthony J. Taraszka Collection. Earlier from our (Stacks) sale of the James A. Stack, Sr. Collection, March 1995, lot 558. The plate coin for the die variety in the book United States Ten Dollar Gold Eagles: 1795-1804 by Anthony J. Taraszka.
