The June 4, 2000, Dr. Jon Kardatzke Collection Parts II & III, Sale 5
Lot 1425 
1795. 9 leaves reverse. Taraszka 3:2-B, Rarity 6. PCGS graded VF-35. A classic American rarity! Long known as the rarest of the major varieties of the Capped Bust series, the nine leaf reverse deserves its coveted status. Breen notes that the discovery coin was held by Granberg, Woodin, Newcomer piece in Very Fine, possibly this coin (?). Last year an excellent new reference work was published by die variety collector Anthony Taraszka, which enumerates at least 15 examples of this die variety known. This particular coin is probably not listed, as it grades just below the EF and above grades enumerated in Taraszka's list.
Surfaces show moderate handling marks, as normal for this grade, but none are deep or offensive. A touch of purplish tones have settled in near the devices and lettering. The obverse has a couple of minor rim marks above LIBERTY, and the reverse can be identified by a shallow scrape under the left wing of the eagle and a small planchet pit below the right side of the branch. Breen notes that most nine leaf coins show "flan chips" as seen below the palm branch here, perhaps from something adhering to the die during striking.
The nine leaf reverse die is known to always display several areas of die sinking, in the field below the palm branch, in the upper half of the first T of STATES, and at the first A of AMERICA (on the lower right foot of that letter). As to why this die only has nine leaves, probably the engraver simply forgot, and wasn't paying attention to the number of leaves when engraving the die.
Since being listed in the Guide Book many years ago, few have turned up, confirming its status as a great rarity. While other fads may come and go, classics like this 1795 eagle will never go out of style.
Lot 1426 
1795. 13 leaves below eagle, Taraszka 4:3-C, Rarity 5, Breen-3B. AU-50 Light hairlines. A frosty example of this first year of issue denomination. The surfaces retain some of the original mint bloom, and the strike is full throughout, especially on Liberty's minute curls and the eagle's wing feathers. As a design, the Capped Bust, Small Eagle was extremely important; Liberty's cap represents the freedom from the shackles of slavery, with a lock of her long hair wrapped curiously up from behind her head around the front of the cap. On the reverse, the proud eagle of America perches on a branch with 13 leaves (for the 13 original colonies) and holds a crowning wreath of peace and victory in its beak. The eagle's outstretched wings proudly display his strength and confidence, as America had at last removed the taxing ties of mother England in the decade prior and as a country was free to pursue its own ideals.
The eagle, as a denomination, was the highest value coin issued for circulation until 1850, and as such was immensely important. Great care was taken to show that this new fledgling country was not only viable, but equal to the world's great countries, both in leadership and honesty of coinage.
As to the particulars of this coin, there are some very faint hairlines noted in the obverse fields, probably a few tick marks were carefully smoothed down before Liberty's chin, but a glass is required to see the evidence. The reverse has a small tick mark on the rim above AT of STATES, and there are two pin-prick marks on either side of the first A of AMERICA. There is a diagnostic die lump near the edge by the first A of AMERICA too, as seen on all coins struck with this reverse die. On the reverse, there are minor adjustment marks, mostly around the edge, with a couple noted on the eagle's chest. Mercifully, most of the adjustment marks were obliterated by striking. Briefly, as the coin is struck, the first contact of the die to strike the planchet is the fields, as the dynamics of the strike unfold, the metal flows into the deep recesses of the die, devices like the eagle and lettering are filled by metal "flowing" as the dies are squeezed together. During the metal flow, most of the adjustment marks disappear, except where there is the least metal flow, on the devices and lettering. A large portion of gold and silver planchets were "adjusted", by filing off a small bit of metal, to bring the planchet into the allowed weight tolerance for the denomination. Mint workers were required to be bonded and severe penalties were in place if coins were produced which were underweight. Therefore, with the somewhat primitive equipment available in the Philadelphia Mint, it was easier to produce slightly heavy planchets for gold and silver production, then file off the excess and save the filings for making additional planchets, rather than making underweight planchets, and having to remelt, roll and cut the gold or silver over again.
This is an excellent reminder of those early days at the Philadelphia Mint, in a collector grade which everyone can appreciate.
Lot 1427 
1795. 13 leaves below eagle. Taraszka-1:1-A, rarity-3 high. EF-45. Obverse rim dents, light adjustments on both sides but none offensive, lovely old golden reddish color. The fields are slightly prooflike and very clean. Scarce and always desirable.
Lot 1428 
1796 Taraszka 6:4-D, Rarity 4. PCGS graded AU-50. A choice example for the numismatist. Excellent surfaces that appear to be unmolested by time or attempts at improvement. Fresh and original in color, with some of the prooflike surface remaining from the original strike near the devices. Hints of color and decidedly original in every respect. The fields show minor handling marks, as seen on every circulated eagle of this period. The edge reeding in strong except for a small portion around 9 o'clock on the obverse, which is weaker than the reeds surrounding that portion. Curiously only 11 leaves were engraved on the palm branch below the eagle, as seen on every 1796 eagle. If you have been searching for a well balanced, original example of this scarce coin, then be sure to examine this one closely, for it is very pleasing. Later die state with the vertical crack hidden in Liberty's curls down to her drapery.
Lot 1429 
1796. Taraszka-6:4-D, rarity 4. EF-40. Just a "type date," with no special variety to its credit, but with a mintage of only 4,146 coins. Not many have survived all these years. This is indeed a nice collector's coin, having been in one owner's hands for many years and destined to be held and cherished yet again. Its surfaces are vaguely prooflike, meaning that the luster is "hard." The color is a very "set," old-time mellow orange gold. The surfaces show almost no marks, although some hairlines, so it was probably wiped or gently cleaned at one time. The rims are basically perfect, incredibly so for a circulated coin of such soft metallic composition. Some faint adjustments also show, now worn a bit, on the eagle's breast.
Lot 1430 
1797. Small eagle. Taraszka 7:5-D, Rarity 5. PCGS graded AU-50. The 1797 Small Eagle is the product of the Mint and politicians attempting to please the public. Apparently the delicate small eagle reverse had proven unpopular, and this design was replaced with a slightly modified copy of the Great Seal of the United States, and employed on the Heraldic Eagle reverse. As dies were generally used until worn out, broken and couldn't be repaired, many strange date and design combinations were created during this turbulent first decade of Philadelphia Mint coin production. The new style heraldic eagle reverse first appeared on 1796 Quarter Eagles, and from there spread to other denominations. A few curious animals were created, such as the 1795 half eagle with the heraldic eagle reverse, or the similar 1798 small eagle half eagle. New heraldic eagle reverse dies were made for eagles in 1797, and the left over 1796 11 leaf reverse was also used to produce 1797 eagles, and was the last usage of the small eagle design.
Sought-after by rarity collectors, this coin is still known as a Rarity 5, with between 31 and 75 thought to be in existence. The obverse die quickly broke, with a heavy die crack extending from the rim below the last star up towards Liberty's chin, with branching cracks going off the main crack in either direction. When the dies were replaced, the new heraldic eagle reverse was used, as well as a new obverse die.
This particular coin is exceptional, the surfaces show smooth, even wear and the fields, rims and devices display few signs of the usual problems that so often plague these early eagles. Identifiable by a small rim tick above the first T in STATES, but no other marks are readily visible for pedigree tracking.
We are uncertain of the pedigree of this particular coin, but it is a delight to behold and will be the highlight of an advanced collection.
Lot 1431 
1797. Large eagle Taraszka 8:6-E, Rarity 4. Sharpness of EF-40 but cleaned and repaired. The obverse has been cleaned with some sort of surface altering chemical, perhaps a light acid as the fields and devices have a pebbly look. None of the original mint frost is present. It is likely that there were some marks or an initial in the left obverse field, which was buffed down, then the entire coin was "bathed" to make the fields and devices uniform in appearance. To the naked eye, this coin has a nice appearance, and any work done on it is not readily apparent without a glass. Inspection mandatory.
Identifiable by a short mark above the arrowheads in the field, nearly touching some of the eagle's feathers, and several less important marks in the star field near the eagle's head. The reverse also appears to have been lightly bathed in acid, making it a bit dull, but uniform in color and appearance. By itself, this coin is generally pleasing to the eye, but against some of the others in this collection, the work is more easily discerned.
A scarce coin in any grade, this one is well struck, with full device detail and is free of some of the more obvious problems which plague many coins of this era.
Lot 1432 
1797. Large eagle Taraszka 8:6-E, Rarity 4. Sharpness of VF-30 but solder on edge and repaired. This coin was likely worn as a jewelry piece at one time as the edge shows evidence of mounting and solder removal. A glass notes a few areas of very minute buffing to reduce marks or otherwise "improve" this coin, notably around LIBE and the eagle's head, as well as the rim where the solder was removed. Moderate handling marks on both sides accounting for the grade, but still this is a well struck and rare coin with all of the device detail present and some eye appeal. Identifiable by a shallow mark just above the last star and the solder mark above AM on the reverse rim, and another above the E of UNITED. Inspection mandatory.
Lot 1433 
1798. 8 over 7, 9 stars left, 4 right Taraszka 9:7-F, Rarity 4 High. PCGS graded EF-40. Thought to have been one of 900 struck, with approximately 75 to 100 surviving in all grades according to the excellent and just published reference work United States Ten Dollar Gold Eagles 1795-1804 by Anthony Taraszka. Breen, in his Encyclopedia, believed that just 18-20 survived. Mintages for coins from this early era have long produced many problems, for example, it is apparent from research that the Philadelphia Mint used dies in a haphazard fashion, with the date on the die being of little importance. One wonders why an overdate was even produced, when evidence now shows that after these 1798 eagles were struck, more 1797 eagles were produced (see the recent Taraszka reference work on the subject). We believe the mintage for this variety was probably a few thousand, as that number would "fit" the specimens now known of this date and others. Most likely some of the 1797 minted coins, or even the 1799s were actually 1798 dated eagles. Nevertheless, this is a rare coin and has been sought-after by generations of collectors. The surfaces show minor hairlines, and the usual die crack through the L of LIBERTY into the cap. Boldly struck, perfectly centered and pleasing in every way, this coin will entice most collects to bid heartily. Another opportunity!
Lot 1434 
1798. 8 over 7, 7 stars left, 6 right, Taraszka 10:8-F, Rarity 6. Sharpness of VF-30 but lightly repaired and cleaned. One of the classic rarities of the Capped Bust series, this 1798 7 X 6 stars has kept its status as a rarity despite years of publication in the Guide Book and other numismatic references. In the recent Taraszka reference work, he notes that about 15 specimens have been positively attributed of this variety. Breen, in his Encyclopedia, noted that 13 were known to him. Close examination shows some very light repair work done in the lower right obverse field, as it appears smoother than the surrounding areas and minute tool marks are visible in that area. The center of Liberty's cap also has a tiny mark that was probably smoothed down. Similarly, the reverse over the eagle's head shows some faint swirl lines where repair work has been done. The edge of the coin shows some tooling, perhaps this coin was mounted for a time, and then carefully repaired. The coin was then lightly cleaned, giving it a uniform appearance. The obverse rim also has minor repair work noted above the E of LIBERTY. Still and all, a classic coin that boasts a strong strike, decent surfaces and is much more affordable than the few mint state coins known. It may be years before another one of these turns up, so bid accordingly.
Nevertheless, this is a very rare coin indeed, even with its problems, and certain to attract considerable attention. Inspection mandatory by prospective bidders. Free of other handling problems, and quite nice in appearance overall to the unaided eye.
The familiar obverse die cracks are visible, one from the rim through the seventh star to the back of Liberty's cap, another down from the rim through the E of LIBERTY into Liberty's cap and head.
Lot 1435 
1799. Small obverse stars, Taraszka 17:12-I, Rarity 7. AU-50 light hairlines. An extremely rare die pairing this is identifiable by a light die crack through the upper two points of the eighth star and a die line in the third clear stripe from the right in the reverse shield. This variety was not offered in last years Harry Bass sale. The third star on the obverse is diagnostically weak, while the rest of the devices and lettering are boldly impressed. As usually seen, the delicate fields show faint hairlines from a past cleaning, but they are not offensive. On the reverse, there are no significant problems whatsoever. A few adjustment marks are noted on the reverse rim near the top and along the right side, but a glass is needed to see them.
One of the scarcest die pairings according to the Taraszka reference, and collectors seeking an example of each variety would do well to purchase this coin to start their collection. One thing experience tells us, rarity never goes out of style, and to purchase a coin with half a dozen known doesn't leave a lot of competition.
Lot 1436 
1799. Small obverse stars, Taraszka 19:13-J, Rarity 3. EF-45. One of the more common varieties of capped bust eagles, this is a nice specimen for the grade. Light hairlines are noted from a gentle cleaning. The fields show the usual profusion of tiny tick marks from circulation when examined with a glass, but nothing heavy or worthy of note. On the edge near 9 o'clock on the obverse, the edge reeding is a bit weak, typically found on the edges of these early coins, and this area should be carefully examined by bidders. The surfaces are toned a light golden color, and the coin is well preserved overall. An excellent choice for the type collector.
Lot 1437 
1799. Small obverse stars, Taraszka 19:13-J, Rarity 3, Breen-4E. Sharpness of EF-40 but worn as jewelry and solder removed from edges. Worn as jewelry at some time in the past, with the telltale dark coppery spots around the rim where the mount was removed. A spot hidden in Liberty's hair also appears to have been buffed down. As with all jewelry pieces, the surfaces are not perfect and this coin must be inspected by bidders. Better than most pieces worn as jewelry, and worth a look. Sharply struck and otherwise well preserved.
Lot 1438 
1800. Taraszka 23:15-M, Breen-1A, Rarity 4. AU-50 light hairlines. A nice coin for the grade, it was probably cleaned long ago as the fields show minor hairlines. Now toned a choice coppery gold color and boldly struck throughout. Little wear to note, with full curls on Liberty and a touch of rub on the eagle's breast feathers. Missing quite a bit of reeding on the edge, along the right side of the obverse, apparently as struck as it does not appear to be tooled or altered in any way. Certain to bring a strong price.
Lot 1439 
1801. Taraszka 25:17-N, Breen-2B, Rarity 3. EF-45. Choice for the grade, the devices and lettering are fully struck, and the coin has some luster near the devices. Free of the usual problems like adjustment marks or rim bumps. Full reeding on the edge, and the fields show minor handling marks, none worthy of note.
Lot 1440 
1803. Large reverse stars, Taraszka 30:18-R, Breen-1E, Rarity 3. EF-40 but cleaned. Still prooflike near the devices, but a coin that has seen some abuse over the years. There is a dull scrape from ED of UNITED to ST of STATES which is hidden by the devices and lettering. A couple of letters on the reverse show pin scratches where verdigris or something similar was carelessly removed. The fields show the usual profusion of tiny handling marks from circulation, and there are a couple of very small rim ticks. Full reeding on the edge and still about an average coin for the grade.
Lot 1441 
1804. Taraszka 31:19-S, Breen-1A, Rarity 4. Sharpness of VF-20 but with solder removed from edge and cleaned. As is all too typical of these very rare coins, this one was mounted as jewelry for some time with traces of solder removal on the edge and in the reverse lettering. Furthermore, there are obverse scratches from mishandling, mostly visible with the aid of a glass. Not a beauty contestant winner anymore, this is still a very rare coin and collectible in spite of its problems. Starting to retone from the cleaning with wisps of gold color in the lettering. Inspection mandatory.
Lot 1442 
1838. PCGS graded AU-55. A choice coin for the grade, with approximately 20 known in this grade or higher for the date. Frosty luster in the fields and only minor circulation marks. Strongly impressed by the dies, and appealing in every way. Only 7,200 struck, and an important two-year type coin with the sweep of hair over Liberty's ear, which was swept away in late 1839 to the familiar Coronet curly hair style. Free of the usual problems and heavy handling marks, and worthy of a top-notch collection. PCGS has only graded 3 coins in this category, with 5 graded higher, making this one of the very best of this important two year type coin.
Lot 1443 
1839. Large letters. Sharpness of AU-50 but the surfaces are slightly porous from cleaning. The coin shows very little actual wear, but the obverse and reverse, even the rims, have been harshly cleaned, with resulting porous surfaces from some kind of acid bath. These type of 1838 pieces are always popular with collectors, few remain in high grade to show the swept back hair on Liberty. One that should be inspected and many will still find acceptable for their collections.
Lot 1444 
1839. Large letters, type of 1838. Sharpness of EF-40 but repaired in the fields. The obverse shows faint scratches in the field and on Liberty which have been carefully buffed down and are now a bit discolored. Well struck on Liberty, and on the reverse too, with complete definition on the devices. There are some traces of the 9 over 8 overdate (Breen-6850) along the right side of the 9. Some luster remains, and a coin which should be inspected.
Lot 1445 
1839. Large letters, type of 1838. VF-35. Probably cleaned some time ago, with a few hairlines in the fields, and with some coppery toning near the date. Popular two-year type design with the sweep of hair over Liberty's ear, which was modified in late 1839 to the style which continued until 1907. The all-important obverse is presentable, with no problems worthy of note, the reverse has one small bruise located over the E of AMERICA near the rim. Well struck.
There is minute evidence that this coin may have been double struck, on the border near the eleventh star there are three star points of what may be a first off-center strike. With the new high pressure steam coining press, all other evidence of was obliterated by the centered strike. A coin that deserves close examination as any gold striking error is extremely rare, especially on this important two-year type coin.
Lot 1446 
1839. Small letters. PCGS graded AU-53. A lovely coin that boasts light coppery toning on both sides, and frosty luster in the fields. Minor handling marks in the fields, and a pair of reeding marks are noted just below Liberty's eye. This is the type of 1840 variety, which continued until 1907 (with the addition of the motto on the reverse in 1866). We note that PCGS has only graded 4 coins higher of this variety! A rare coin indeed in this high state of preservation. Outstanding quality for the issue.
Lot 1447 
1840. Sharpness of EF-40 but with the rim filed. Light to moderate marks on both sides, with a small scrape at the top of the obverse. The obverse rim has also been filed, probably to remove rim marks, along the upper edge, and an area on the reverse rim also appears to be slightly smoothed. The repair work in unobtrusive, and not many people would notice it. Scarce.
Lot 1448 
1841. Sharpness of EF-40 but cleaned. The surfaces show evidence of a gentle polishing as all the usual circulation marks are barely perceptible. There is a tick mark on Liberty's face, and another on the reverse rim near the left wing of the eagle. The coin does have a nice appearance because of the cleaning, but a glass reveals the truth.
Lot 1449 
1841-O. EF-40. A major rarity in this grade, with only 2,500 struck and approximately 40 known in this grade or higher, with none graded higher than AU-55 by either grading service (NGC or PCGS). This coin was broken out of a PCGS holder where it was graded XF40. Apparently unknown in full Mint State according to the various experts. Identifiable by a small cluster of tick marks near the bullet before the U of UNITED, and struck from clashed dies on the reverse. Lovely golden toning on both sides, completely original in every regard. Truly an unrecognized opportunity to purchase an extremely rare and very pleasing coin.
| More |