1795 $10 13 Leaves MS (PCGS# 8551)

Pre-Long Beach

  • Auctioneer:
    Ira & Larry Goldberg
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Lot Description
NGC #1776966-022. Very boldly struck and intensely lustrous. A stunning untoned example with great eye appeal and semi reflective surfaces throughout. This remarkable (and remarkably beautiful) early eagle traces to the Freedom Collection sold by the firm of Heritage Auction Galleries. In that earlier sale, a foundation was laid for the coin's heritage by this detailed chronology (from which we quote): "The ten dollar gold pieces, given the name 'eagle,' were the largest gold coins produced by the first U.S. Mint from 1795 through 1804. Like all early gold coins, these pieces did not carry an actual denomination as part of the design. John Dannreuther explains: 'The eagle was the second gold denomination struck by the United States Mint. Calling it a denomination is actually a misnomer. Even though a gold eagle was denominated as a ten-dollar coin, our forefathers traded gold by the tale. [Tale, in this instance, means count or tally, a number of things taken together (i.e., the weight and purity of an individual coin).] The weight and purity were the only things important to merchants and individuals -- money was gold, and gold was money. In most cases, transactions of even a nominal sum had to be settled in gold, especially whenever governments were involved. There really was no need at first for a stated denomination on either gold or silver coins, because it was known that our coins would be under extreme scrutiny and would likely be assayed by foreign mints and others as to their weight and purity.'<BR><BR>"In his new reference, Early U.S. Gold Coin Varieties, Dannreuther provides estimated mintages for every variety, as well as estimates of the number of survivors for each variety. The only thing we know for sure is the number of die marriages known from 1795 through 1804 (32) and the total mintage for that period (132,714 coins including 122 pieces reserved for assay). By using the midpoint of Dannreuther's survival estimates, we can also establish an approx
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