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All Posts Tagged With: "Early US Gold"

Coin Profiles: Monumental 1795 $10 Gold Eagle, 13 Leaves Featured in Heritage Fun Sale

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 Look at Early U.S. Gold Coins

By Jim Fehr – The Winning Edge

Gold Strengthens

The gold market is hot. Bullion prices are rising and driving gold coin prices higher. Economic conditions over the last two years have investors seeking a heaven against rising money supply/inflation. The government printing presses are running over-time as the treasury departments prints trillions of dollars to try revive a weak economy. Keynesian economic practices and an explosion in the size of the U.S. government should keep gold at healthy levels as prices flirt with $1,310 + an ounce.

Early U.S. Gold

Not too long ago I wrote about Early U.S. silver coins. Like the Early silver type, I wanted to break down the Early U.S. gold pieces in this issue. Hope you enjoy it. Prices are an approximation of your actual past and present acquisition cost. PCGS and NGC populations are based on their respective censuses reports.

Draped Bust $2.5 1796 – 1807

The first U.S. coin to have the heraldic (large) eagle on the reverse which was then adopted for all U.S. gold and silver coins from 1798 to 1807. There are two major design varieties for the 1796; the “with stars” and “no stars” obverse. Both of which are extremely rare. The populations listed are for all dates combined. Prices are an approximation of your actual past and present acquisition cost and are for a type coin (not better dates) in the series.

PCGS Circ. population: 392; NGC: 298
PCGS Unc. population: 89; NGC: 163

Prices have steadily climbed since 2002 and are still strong today. This issue is somewhat overlooked like most smaller denomination coins, but less so recently. The prices listed are for type coins in the series. Better dates like the 1796 no stars bring more. I like the issue in all grades at the current levels and believe they will continue to perform well.

In the next two groups Liberty is facing left as is true with most all U.S. coins after 1807. For the single year of 1808 the design had no denticles and was of the large bust type. Then none were minted until 1821. The new design included smaller stars and bust. After 1827 they reduced the coins size and denticles, hence the Capped Bust small size. Prices are an approximation of your actual past and present acquisition cost and are for a type coin (not better dates) in the series.

Capped Bust $2.5 1808 – 1827 large size

PCGS Circ. population: 115; NGC: 87
PCGS Unc. population: 72; NGC: 75

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1804 Eagles from Harry W. Bass Jr. Collection on Display at Fort Worth

Two of the finest-known gold 1804 eagles have been added to the Museum Showcase at the 2010 ANA National Money Show™ in Fort Worth. The coins are part of the renowned Harry W. Bass Jr. Collection of American gold coins, and are on display at the ANA’s Edward C. Rochette Money Museum in Colorado Springs.

The Mint began producing gold eagles ($10 coins) in 1795. Production of the coins ceased in 1804 due to a shortage of gold and a perceived lack of need for the denomination. The 1804 eagle thus became famous for being the last coin for the type, and the last eagle struck for circulation for over thirty years. The estimated number of survivors, including the one on display in Fort Worth, is thought to be 80-100 pieces, all from one die pair, of which a considerable number have been damaged.

A twist was added to the story in between 1834 and 1835, when restrikes of 1804 gold eagles and silver dollars were minted by special order of President Andrew Jackson as diplomatic gifts to a king, two emperors and a sultan. Since the last time that silver dollars or gold eagles had been produced was in 1804, the Mint created new dies for the coins and struck them as proofs. There are four known 1804 proof eagle restrikes, including the one on display in Fort Worth; these coins have been nicknamed the “King of Eagles.”

The ANA National Money Show is one of the premier coin shows in the country, and features more than 500 ANA-member dealers; a Museum Showcase with numismatic rarities from the Smithsonian Institution, ANA Money Museum and private collections; a wide array of educational programs; fascinating exhibits created by ANA members; and a $1 billion display by the Bureau of Engraving and Printing. For more information, visit www.nationalmoneyshow.com or call 719-482-9857.

The show is at the Fort Worth Convention Center and is open to the public from 9:30 a.m. to 5:30 p.m. Thursday through Saturday. Admission is $6 daily and free for ANA members and children 12 and under.
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New Registry at NGC for Early U.S. Gold Coins Announced

The Numismatic Guaranty Corporation (NGC) has announced the addition of a new section to its registry for Early U.S. Gold Coins.

Noted as a pedigree collection and officially named American Independence, it will include Gold Quarter Eagles, Gold Eagles and Gold Half Eagles. It is the first time a new section has been added to the registry in years.

With this new designation, collectors will now be able to register and display photos of their early U.S. gold coins, interact with other collectors, and compete for awards and recognition.

The NGC is the largest coin registry of its kind, widely recognized as the definitive showcase of the world’s most valuable and important coins.

According to Scott Schechter, NGC Vice President, Sales & Marketing, “The newly-created early gold sets in the NGC Registry are definitely among the most difficult to complete. To attempt them is to undertake a long and serious pursuit. This underscores the achievement of the American Independence collection, which consists of high-grade and attractive examples of these challenging coins. As it continues to grow, it should be a milestone Registry collection.”

Tom Pilitowski is currently the exclusive representative of the American Independence collection and owner of U.S. Rare Coin Investments in Port Charlotte, Florida. “This new pedigree of Early U.S. Gold now makes these coins eligible for NGC grading and authentication,” Pilitowski said. “More importantly, it will bring attention to the historical significance of U.S. gold coins that date back to this country’s founding.”

Pilitowski is an expert on early U.S. gold coins and has formed many collections, ranging from an extremely rare 1795 9 Leave Eagle in MS-61 in what has been known as the Denver Collection to several sets of Early Half Eagles. (more…)

New Book: “King of Eagles” The Most Remarkable Coin Ever Produced by the U.S. Mint

kingofeagles_bookBy Dean Albanese – Albanese Rare Coins

The 1804 Plain- gold Eagle is without a doubt the most remarkable coin ever minted by the U.S. Min; it is indeed, the “King of Eagles.”

Only four specimens of this quintessentially rare coin were minted – but not in 1804, as the date on the obverse suggests. Instead, these near-priceless coins were minted by special order of President Andrew Jackson during the period 1834 – 1835 as diplomatic gifts to a king, two emperors, and a sultan.

1804_proof_eagle_100609The story begins in 1832, when Edmund Roberts sailed aboard the U.S.S. Peacock on a diplomatic mission to establish trade relations with Muscat (modern-day Oman), Siam (modern-day Thailand), Cochin China (modern-day Vietnam), and Japan. He succeeded with Muscat and Siam and returned to the United States, where complete sets of new gold, silver, and copper coins, neatly arranged in a morocco case, were made as princely gifts. These sets included the 1804 silver Dollar and the much rarer 1804 Plain-4 gold Eagle.

The return trip to the Far East was an adventure that has been the subject of many books, the sort of tale that can arouse one’s imagination and inspire movies. Men may fantasize and dream about high adventure, but the King of Eagles is a true story that is more exciting than any fantasy could be. It is a story about politics, greed, and courage that includes attacks by pirates, a shipwreck on a desert island, daring rescues, strange-but-true encounters with exotic natives, and, finally, tragedy.

Today the saga is told as never before, and the King of Eagles continues to be the ultimate prize for collectors of American coins and for history enthusiast.
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