1795 $10 BD-1, 13 Leaves MS(PCGS#45710)

The Regency Auction 31

拍卖行

Legend Rare Coin Auctions

批号

422

等级

MS64+

价格

5,503,895

详细说明

Legend Rare Coin Auctions is proud and honored to present this marvel of early American numismatics! Among the FINEST Mint State 1795 eagles graded by either service, we believe this virtual GEM is either the third or fourth finest known, behind the Garret-Pogue (MS66+), Far East (MS65), and Eliasberg (MS65), and tied with the other MS64+ which is now impounded in the Bob Simpson Collection. The owner purchased this beautiful 1795 $10 from a non-collector who inherited it as a family heirloom. This is an incredible coin, struck from a later state of the BD-1 variety. Impeccably frosty, the fields have a stunning satin luster that glows with a a remarkable brilliance from under a layer of thick, original "skin". We love when we see early gold pieces that have not been cleaned or conserved in an effort to achieve an even loftier grade from the services. There is some weakness of strike in the left rim and among the stars on the left side of the obverse, likely an effect of the die state, where there are some thin die cracks as described in the Bass-Dannreuther reference in Die State C, the terminal die state. Otherwise, the central design devices are very sharp and fully defined, courtesy of an exacting blow from the mint's screw press. A strong glass reveals some minor mint made die adjustment marks, as well as a few hidden lines and a tiny tick or two on the reverse. Regardless, these marks are totally acceptable for the assigned grade, and they do not have an impact of any kind on the SUPERB eye appeal. This is a very special coin for any advanced collector! The April 12, 1792 act of Congress that established the United States Mint, called for three denominations to be struck in gold with the $10 Eagle as the largest. The act required mint officials to post a surety bond before precious metal coinage could commence. Thus, only copper half cents and cents were struck in 1793; silver half dollars and dollars were struck in 1794; it was not until 1795 when the first $5 and $10 gold coins were minted. The $10 gold piece, or Eagle was designed by Robert Scot, and featured a bust of Liberty facing right, wearing a Phrygian cap (a symbol of freed slaves in ancient Roman times). The reverse has a small eagle holding a palm branch in his talons and a circular olive wreath is held in his beak. Only 5,083 examples were reported to have been struck, although early mint records show the number of each coin struck in the calendar year. Since die steel was hard to come by, dies were used until they could not be used any more, making it possible some additional 1795 Eagles were struck later on. In all, five die pairs were employed, four with the 13 Leaves reverse, and one with the rare 9 Leaves reverse. Today, approximately 500 are known in all grades per PCGS CoinFacts and the Bass-Dannreuther reference estimates 430 to 582 survive. PCGS 2, NGC 3, CAC 1. Both PCGS coins are MS64+(the other coin is impounded in the Simpson Collection) and possibly only three coins are graded finer, including the Garrett-Pogue MS66+ and the Eliasberg MS65. No MS64 has sold in auction since July 2008. The 1795 Eagle has always been prized for its impressive look, as well as its place in the annals of U.S. numismatics dating back to the mid-1800s when American collecting began to become a popular hobby. While the majority of known examples are circulated, clustered in the XF and AU range, precious few have original surfaces (they have been cleaned, polished, scratched, tooled, or have some other conditional issues). There are a small number of lower Mint State coins graded, however, anything finer than MS62 is a major rarity. Today, high grade coins carry high six-figure to seven-figure prices. There has not been an MS64 graded by PCGS sold since May 2008 - that was nearly 11 years ago! The most recent example was the MS66+ Garrett-Pogue coin, which realized $2,585,000 in September 2015. The Eliasberg coin was graded by NGC when it last sold in auction over five years ago (it has since crossed over to PCGS and has a current asking price of $1,750,000). The current Collectors Universe value of $800,000 is likely too low, especially since high-end GEM examples are so few and far between. We know a huge round of applause will break out when the hammer falls on this lot. Whoever ends up being the high bidder will bring home a truly spectacular coin! A centerpiece of this auction and a centerpiece of the advanced collection it graces next! Note: Due to the high value of this lot, please contact us before the auction date if you intend on bidding. Prior approval is required for this lot. Cert. Number 6309771 PCGS # 8551