1801 Capped Bust Right Eagle. BD-2, Taraszka-25. Rarity-2. AU-55 (PCGS).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-2, Taraszka-25, Breen 2-B, HBCC-3194. This variety represents the only use of this obverse die and the first of two uses of this reverse die. The large, thin obverse stars are diagnostic of this die marriage of the 1801 eagle, the BD-1 pairing of this issue has large, thick stars. Additional features of the 1801 BD-2 obverse die are star 8 with two points close to Libertys cap and star 13 near the end of the bust. On the reverse, the right edge of the letter E in STATES is centered over a space between two clouds and the end of the branch stem is long and curves down.Die State: BD Die State b/b. This is the later of two known die states for this variety. The obverse exhibits prominent clash marks in the cap from the vertical stripes in the reverse shield. The reverse is lightly lapped, but with no clashing or cracks.Estimated Mintage for the Issue: According to numismatic tradition, the mintage for the 1801 eagle is 44,344 coins, 15,090 pieces of which were struck in 1802 from 1801-dated dies. This figure is per Walter Breen. Dannreuther, however, provides a range of 32,500 to 44,000 eagles struck from 1801-dated dies, the lower estimate likely closer to reality since many of the examples delivered during calendar year 1801 were coined from the remarriage of the 1800 BD-1 variety. It is also possible that some 1799-dated eagles were struck as late as 1801.Estimated Mintage for the Variety: Dannreuther estimates that 30,000 to 40,000 examples were coined from the 1801 BD-2 dies.Estimated Surviving Population for the Variety: Six hundred to 800 coins are believed extant in all grades (per Dannreuther).Strike: The central design elements are sharply to fully defined, although we do note minor softness of detail to some of the peripheral features such as the obverse stars and the eagles wing tips. The strike is ideally centered with bold, uniformly denticulated borders encircling both sides.Surfaces: This handsome coin exhibits vivid pinkish-rose overtones to a base of warmer olive-orange patina. Traces of semi-prooflike reflectivity can be seen in the fields, especially in the more protected areas around the devices. Free of distracting handling marks, with tiny identifying nicks behind Libertys eye and in the lower right reverse field after the word AMERICA.Commentary: With 600 to 800 coins believed extant, 1801 BD-2 is the most available die marriage in the Capped Bust Right eagle series, including both Small Eagle and Heraldic Eagle issues. As such it is immensely popular for advanced gold type purposes. Variety enthusiasts should take note that this is the earliest die pairing in the series with large, thin stars on the obverse. The large, thick star device punch introduced with the obverse die of the 1799 BD-9 variety obviously broke before preparation of this die, which was completed using a large, thin star replacement punch.The obverse and reverse dies of this variety proved unusually hardy by the standards of the early eagle series, both striking 30,000 to 40,000 coins in this pairing and the reverse going on to produce an additional 7,500 to 10,000 coins in the 1803 BD-3 marriage. Since neither die suffered any extensive damage of which numismatic scholars are aware, the reasons for their eventual withdrawal from production remain a mystery. This is a lovely Choice About Uncirculated early eagle that is sure to catch the eye of gold enthusiasts.From the Anthony J. Taraszka Collection. Acquired from Mid-American Rare Coin Galleries at the Detroit ANA Convention, August 1994. The plate coin for the die variety in the book United States Ten Dollar Gold Eagles: 1795-1804 by Anthony J. Taraszka.
