1799 Capped Bust Right Eagle. BD-3, Taraszka-15. Rarity-6+. Small Obverse Stars. AU-55 (PCGS). OGH. <strong>Type and Style:</strong> 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.<p><strong>Die Variety:</strong> BD-3, Taraszka-15, Breen 1-A, HBCC-3184. This variety represents the only use of this obverse die in the Capped Bust Right eagle series and the third of four uses of this reverse die. On the obverse, the date is wide with even spacing between the digits. Star 9 is close to, but does not touch the letter Y in LIBERTY, and star 13 is also close to the end of Libertys bust. Star 1 presents two points to the lowermost hair curl, and close inspection with a loupe reveals a tiny die rust lump in the field to the right of the midpoint of the letter R in LIBERTY. On the reverse, the lowermost arrow head is under the extreme left edge of the letter N in UNITED, a leaf tip just touches the center of the letter I in UNITED, the lowermost berry is centered under the final letter A in AMERICA, and there are small die rust lumps between the letters UN in UNITED and within the top of the N. The faint, jagged die line that usually bisects the letter O in OF on coins struck from this reverse die is no longer present on this coin due to the late die state (see below).<p><strong>Die State:</strong> BD Die State c/d. This is the latest known die state of this variety. The obverse exhibits three prominent cracks: from the border outside the letters IB in LIBERTY, through the lower left corner of the B and jaggedly through the field and the forehead curl; from the upper border along the left side of the letter L in LIBERTY, intermittently through the cap and into the middle hair curls at the back of the head; from the border past star 8, curving into the field area between that star and the back of the cap. The reverse exhibits the same cracks as seen on the 1799 BD-2 example in Die State d/c-d offered above. Light lapping of the die has removed the faint die line through the letter O in OF and the crack from the border to the second feather from the top of the eagles left wing tip, confirming that the reverse die had advanced fully from State c to State d at the time this coin was struck. The portion of the crack that extends through the lower shield remains visible.<p><strong>Estimated Mintage for the Issue:</strong> 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.<p><strong>Estimated Mintage for the Variety:</strong> Dannreuther estimates that 1,000 to 1,500 examples were coined from the 1799 BD-3 dies.<p><strong>Estimated Surviving Population for the Variety:</strong> Only 16 to 20 coins are believed extant in all grades (per Dannreuther).<p><strong>Strike:</strong> This is a boldly to sharply defined early eagle that shows only light high point rub to confirm a short stint in active commerce.<p><strong>Surfaces:</strong> Deep honey-olive color with more vivid orange-gold overtones. The finish is noticeably semi-prooflike, despite light field friction and the presence of wispy hairlines and other light handling marks. Free of singularly mentionable blemishes, however, with a pleasant appearance overall despite a touch of glossiness to the texture that we mention for accuracy. A shallow planchet void (as made) close inside star 4 on the obverse is useful for provenance purposes.<p><strong>Commentary:</strong> The Mint continued to have difficulty with early die breakage in its striking of 1799-dated eagles. The obverse of the BD-3 pairing, like those of the 1799 BD-1 and BD-2 varieties, was withdrawn from production after relatively few coins were struck. It is little wonder, therefore, that survivors from the 1799 BD-3 die marriage are highly elusive in todays market. This is a lovely example for the assigned grade, and a find for advanced early gold variety enthusiasts. PCGS# 98562. NGC ID: 2625. The old style PCGS holder uses coin #8562, which is now reserved for the Large Obverse Stars <em>Guide Book</em> variety of this issue. From the Harvey B. Jacobson Jr. Collection. Acquired from Jim McGuigan, 2002.
