This 1795 13 Leaves eagle, BD-1, certified MS64 NGC, is a monumentally important coin in both aesthetic and historic terms. The obverse of the BD-1 variety is attributed by the 1 close to the lowest lock of hair, with a closely spaced date and the flag of the 5 overlying the drapery. Star 11 is quite close to the Y adjacent, which shows two tiny “lumps” (a die line, in reality) on the left outside serif. The stars are arranged 10 and five (as on all five 1795 Bass-Dannreuther varieties), with the right-side stars cramped tightly together. This is the only pairing that employs this particular obverse.

The 13 Leaves reverse shows a palm leaf virtually touching the left bottom of the U in UNITED, and the tip of the branch stem just about bisects the bottom of the last A in AMERICA.

As mentioned, the obverse this variety is unique to this die marriage. The reverse, on the other hand, is shared with the BD-2, slightly rarer at High R.4. John Dannreuther writes in Early U.S. Gold Coin Varieties:

“Bass had a State c/b of this variety that was sold in Bass III. There likely, as noted, is a later state of this obverse die, as this variety is its only use. The obverse die broke or received some other fatal injury to cause it to be retired.”

The obverse of this example shows about the same state of die advancement as the Bass coin, with a light die crack running from the rim above star 10, through star 9 and downward through all left-side stars, continuing from there to the bottoms of the 1 and 7 in the date before terminating just below the 9. Another wispy die crack runs from a point of star 13 through the upper part of star 14 and the center of star 15 before ending at the forward bust tip.

The determination of the reverse die state (or stage) is more problematic; light planchet adjustment marks appear in most of the areas diagnostic for die states. Suffice it to say that no cracks are obvious among those enumerated in Bass-Dannreuther.

More important than the die state–which in any case matters to some specialists-researchers a great deal and to many type collectors little at all–is the enormous aesthetic appeal of this coin, which we believe surpasses the Bass III coin mentioned. The orange-gold surfaces show vibrant, prooflike luster throughout both sides, a trait that some Mint State specimens do show. Dannreuther writes in this regard: (more…)

A rare $5,000 Federal Reserve Note, said to be one of only 342 known to be remaining in circulation, will be auctioned on Tuesday, Nov. 30, by Chicago auction house Direct Auction Galleries in an auction taking place in Chicago at 7232 N. Western Ave. Absentee bids are also accepted.

The $5,000 bill is one of 800 lots which also includes a 1934-Star $1,000 Federal Reserve Note (165,372 said to be remaining in circulation), and a 1934-A $500 Federal Reserve Note (Unc.), Brown & Green Seal Notes, 8 Gold Coins including an 1898 Unc. Gold Liberty Head Coin, and more in an auction also offering Furniture and Furnishings, Jewelry, a Vintage Nickel Slot Machine, Bronzes, Art, 1893 Columbian Exposition and 1933 Century of Progress items, and much more.

The last printing of high denomination bills ($500 to $100,000) was in 1945. Giving way to advancing and secure technologies, the large bills had been used by banks and the U.S. government primarily for bank transfer payments, and the Federal Reserve officially discontinued these notes and began removing them from circulation in 1969.

The rare $5,000 bill in this auction is graded approximately AU condition and has James Madison, the 4th president of the United States (1809-1817), the “Father of the Constitution” and chief architect of the Bill of Rights on it.

An interesting footnote about President Madison, he also helped establish the departments of war, treasury, and state, and also tried to establish a national brewery; and even a cabinet position for a secretary of beer, as reported on a recent “Sunday Morning” on CBS. Whoever has the winning bid for this item might be toasting with more than beer!

Direct Auction Galleries is a Chicago auction house specializing in estates and fine antiques, founded in 1962 by Mike and Barbara Modica, located at 7232 N. Western Ave. in Chicago. Auctions are held every other Tuesday with inspections Monday prior to auction day from 3:30-7:30pm and 2-3pm before the sale. For more information, call 773-465-3300 or for full listing, photos, and catalog, visit www.directauction.com.

by Greg Cohen – Stacks

One of the many highlights of Stacks upcoming New York International Sale is a lovely and rare 1830 RA P 8 Escudos of Argentina. This is a key date example of the classic Sunface design, the second rarest date in the series.

This piece hails from the Porteño Collection, a small but high quality offering of Argentine coinage, and displays pleasing original gold surfaces with only light wear. This specimen was uncertified when offered in Heritage’s January 2007 sale, and was recently submitted to NGC for encapsulation where it was graded EF-45.

In his 1962 work, Argentine numismatist and researcher, Jorge Ferarri was able to track fewer than 10 examples of this date. In Calico’s “Onza” book, it is simply described as “Extremely Rare.” Even in the current information age, we can only positively identify two examples that have traded at auction in the past five years.

These include: the example in the October 2008 Spink-Smythe sale (which later appeared in the Ponterio New York International 2010 sale) and this example (ex Heritage NYINC 2007). Curiously, this date was missing from our (ANR’s) sale of the Eliasberg World Gold Collection, Goldberg’s sale of the Millennia Collection, our Kroisos Collection Sale, and other important recent sales of quality Argentine coins. While there are probably examples in museums in Argentina, the number available to the collecting public is quite small indeed.

Another stunning Argentine rarity offered as part of the Porteño Collection is an 1836 Rosas portrait 8 Escudos struck in silver. Called an “ensayo” or essay in Hector Carlos Janson’s book, research conducted by our consignor shows that the 1836 8 Escudos was supposed to be an 8 Soles piece, and thus the silver strikings (which are nearly as rare as the gold) are the officially struck coins.

There are four known examples struck in gold, including the Eliasberg-Clapp coin we offered in the Eliasberg World Gold Collection in 2005. Regardless of whether these are official strikes or essay pieces, they are extremely rare. The last silver specimen to sell at public auction was the AU-50 (NGC) that appeared in the Millennia Collection sale. The Porteño Collection example is sharper than the Millennia coin; unfortunately, it has been polished, and is now residing in an AU Details (NGC) holder.

Stack’s is proud to be able to offer these rarities to the collecting public—for the advanced Argentine coin collector, this is an opportunity not to be missed.