1795 $10 BD-3, 9 Leaves MS(PCGS#45714)

August 2019 ANA U.S. Coins Auction Rosemont, IL

拍卖行

Stack's Bowers

批号

4004

等级

MS63

价格

4,446,858

详细说明

Classic 1795 BD-3, Taraszka-3 9 Leaves Eagle Rarest and Most Famous of the Capped Bust Right, Small Eagle Die Varieties Extraordinary Condition Census PCGS MS-63 Quality 1795 Capped Bust Right Eagle. BD-3, Taraszka-3. Rarity-6. 9 Leaves. MS-63 (PCGS). Type and Style:Type I: Capped Bust Right, Small Eagle. Style II: Head of 1795 with 15 stars arranged 10 left, five right; Reverse of 1795 with nine leaves or fronds on the palm branch. The head and eagle punches are attributed to hubs prepared by Robert Scot. Die Variety: BD-3, Taraszka-3, Breen 4-C, HBCC-3171. Obverse diagnostics include Liberty's bust over the tip of the digit 5 in the date and star 11 away from the letter Y in LIBERTY. The reverse is readily identifiable by having only nine leaves or fronds on the palm branch -- unique among reverse dies in the Capped Bust Right, Small Eagle ten-dollar gold series of 1795 to 1797. This variety represents the second of three uses for this obverse die, which was earlier used to produce the BD-2, Taraszka-2 13 Leaves variety, and later in the BD-5, Taraszka-5 13 Leaves marriage. BD-3, Taraszka-3 represents the only use of this reverse die. Die State: BD Die State d/b. The late obverse die state was inherited from the end of the BD-2 press run, and it is identifiable by excessive lapping that has shortened the points of many stars, as well as faint die cracks at the upper left and right points of star 13. The reverse is also in a late die state with heavy breaks manifesting as buckling at the tip of leaf 2, atop the first T in STATES, and at the first A in AMERICA. Lapping has hollowed spots at the eagle's right wing tip, inside the left wing, and at the upper junction of the eagle's tail and legs. These are the only obverse and reverse die states known for the BD-3 variety. Estimated Mintage for the Issue: Most Capped Bust Right, Small Eagle tens were struck from 1795-dated dies. The mintage for calendar year 1795 is 5,583 coins, per Mint records. Dannreuther provides an estimate of coins struck from 1795-dated dies that ranges from a low of 5,859 to a high of 10,915 pieces. Estimated Mintage for the Variety: Dannreuther estimates that only 210 to 500 coins were struck from this die pair. Estimated Surviving Population for the Variety: Numismatic scholars agree that this is the rarest die variety in the Capped Bust Right, Small Eagle ten-dollar gold series. Dannreuther believes that only 20 to 22 coins are extant in all grades; PCGS CoinFactsprovides a slightly more liberal total of just 18 to 22 survivors. Strike: Sharply defined for both the type and die state, both sides exhibit crisp detail to virtually all design elements. Central high point softness is typical of the type, while the lack of detail to a few minor features is the result of excessive die lapping, as described above. Surfaces: This is a beautiful coin with subtle green-gold undertones to dominant medium gold patina. The obverse is semi-prooflike, the reverse close to fully prooflike. Both sides exhibit only wispy, inconspicuous handling marks; a few minuscule planchet voids in the left obverse field the only useful identifying features. The reverse is particularly attractive with no scratches, and the eagle's breast and legs are free of planchet adjustment marks. Overall superior in eye appeal than some higher graded examples. Commentary: This famous variety was apparently discovered by William H. Woodin, a student of the early gold series, who recognized it as a great rarity. Waldo Newcomer gave the variety his imprimatur in 1926 by buying the Woodin specimen for $100, which Walter Breen suggested "was several times the then going price for 1795s in that grade." A second specimen was not identified until 1960, when Breen cataloged one for New Netherlands' 55th sale, calling it "of extreme desirability as a type coin." Interest in the variety grew with the recognition of it as a major type (the only early eagle with nine leaves on the reverse) and a major rarity, though as late as 1980 David W. Akers reported that "it has never received any publicity." Its profile is much higher in the present day. Dannreuther writes that "it is one of the most famous die varieties among all early gold coins - the king of the Small Eagle type." The rarity of this variety is no doubt explained by the failure of the reverse die, as all known examples display the heavy breaks described above. Although some numismatists have described the 9 leaves variety as a die cutting error, the general consensus among scholars is that it represents an intentional experiment on the part of Mint personnel. Dannreuther explains: "...the fact that the reverse was changed to 11 leaves for 1796 and 1797 indicates that [the 9 Leaves] was an intentional experiment. Perhaps the arrangement of 13 leaves was considered too crowded and grouping of 9 leaves was thought too sparse, leading to the introduction of 11 leaves on the branch in 1796." Elusive and desirable at all levels of preservation, that fact that several of the 20 or so known examples are in low grades highlights the rarity and significance of this Choice Mint State coin. In fact, the Taraszka specimen is tied for Condition Census #3 with just one other PCGS MS-63. It is one of only four Choice Mint State 9 Leaves eagles known, just three of which are in private hands: 1 - Very Choice Mint State.The Harry Bass Core Collection specimen now on display at the American Numismatic Association Museum. 2 - PCGS MS-63+. Ex Superior's session of Auction '89, July 1989, lot 908, via RARCOA; our (in conjunction with Sotheby's) sale of the D. Brent Pogue Collection, Part II, September 2015, lot 2091, where it realized $1,057,500 against a catalog estimate of $350,000-$450,000. This is the finest 1795 9 Leaves eagle in private hands. 3 - PCGS MS-63. Ex Mike Brownlee; Superior's May 29, 30, 1995 Auction, lot 3684. The present example. 4 - PCGS MS-63.Ex Christie's/Spink America's sale of September 1990, lot 605; Heritage's ANA National Money Sale of March 1998, lot 6460 (as PCGS MS-61); Superior's National Money Show Auction of March 2001, lot 853. Representing what could very well be a once in a lifetime bidding opportunity for advanced early gold variety enthusiasts, we anticipate strong competition for this Condition Census example of the famous 1795 9 Leaves eagle rarity. Provenance: From the Anthony J. Taraszka Collection. Earlier ex Mike Brownlee; Superior's May 29, 30, 1995 Auction, lot 3684. The plate coin for the die variety in the book United States Ten Dollar Gold Eagles: 1795-1804by Anthony J. Taraszka, and also pictured on the front cover of Superior's May 1995 auction catalog. PCGS Population: 2; with a single MS-63+ finer. PCGS# 45714. NGC ID: BFYL. Click here for certification details from PCGS.