1798 Capped Bust Right Half Eagle. Heraldic Eagle. BD-7. Rarity-7. Normal (a.k.a. Small) 8. AU Details--Improperly Cleaned (NGC). This is our first offering that we can recall for this highly elusive die pairing from the early half eagle series. The dies were in an advanced state of break up when this coin was struck (see below), although they still managed to impart bold to sharp detail to most design elements. The exceptions are in the centers, where the hair curls behind Libertys ear and the eagles breast are quite blunt. Light high point rub is noted overall. The NGC qualifier concerns moderately heavy hairlining and a curiously bright, somewhat glossy texture. Light honey-gold color enhances the appearance, however, as do blushes of pale reddish-rose in the protected areas around some of the design elements. BD Die State e. Of the 24,867 1798 Heraldic Eagle $5s that the author believes were struck, John W. Dannreuther (2006) asserts that only 400 to 800 were coined from the die pairing now identified as BD-7. The paltry mintage of this variety is obviously due to the early and severe break up of both the obverse and reverse dies, neither of which appears in any other pairing. BD Die State e is described by the author simply as, "further cracked with reverse die sinking, terminal state." Expanding on this by using the present coin to illustrate this state, we note that the upper left obverse and upper right reverse are shattered by numerous heavy die breaks. There is even a prominent piece out of the reverse die at the left upright of the letter M in AMERICA. This is surely one of the final 1798 BD-7 half eagles struck before Mint employees were forced to retire both dies. With so few coins struck, BD-7 is the rarest of the three die pairings that correspond to the Small 8 Guide Book variety of this issue. It is also one of the rarest early half eagle varieties of all dates with Dannreuther accounting for only six to 10 survivors. This is only the third auction appearance for the variety during the 21st century that we have been able to trace, and the first in one of our sales. An important opportunity for the specialist that is unlikely to come along again anytime soon. PCGS# 8079. NGC ID: BFX5.