1803 Gold Eagle - No coins of the ten dollar
(gold eagle) denomination were struck dated 1802, as the
deliveries in that year consisted of coins dated 1801 eagle.
Production with a correct date of mintage resumed in 1803
with an estimated mintage that has long been considered
to be correct at 15,097. Yet, recent research has learned
that the number might be slightly higher, although the difference
would not be immense. Like virtually every pre 1804 gold
eagle issue of the United States, coins were made in years
after the date which was listed on the coin, making reliable
mintage numbers to be hard to come by.
With the reference published in recent
years by Bass-Dannreuther (Early U.S. Gold Coin Varieties),
the puzzle of mintages and emission sequences was considered
to be largely solved. Yet, there are already other researchers
who have come up with different conclusions, especially
regarding the mintages. Until sufficient proof is found
in the Mint archives, which appears to be unlikely, the
debate on early American gold coinage will continue, and
this fascinating topic will continued to be studied by many
numismatists.
The 1803 eagle (1803 ten dollar gold piece
comes) in six different varieties, ranging from scarce to
very rare. Incredibly, the total mintage was struck from
a single obverse die, which is another proof that die manufacturing
methods were steadily improving. The reverse dies, however,
continued to change, and a total of six different reverse
dies were used in the mintage of this issue. These, basically,
can be classified in three different reverse types, although
one is better considered to be a specific variety:
• Small Reverse Stars, type of 1797-1801
(BD-1, BD-2, BD-3, BD-4)
• Large Reverse Stars, type of 1804 (BD-6)
• Large Reverse Stars, extra star (BD-5)
The latter is a very interesting variety
which was discovered at the 1966 ANA by prominent gold collector
Harry W. Bass. The reverse features an extra reverse star,
much smaller than the rest on the reverse, placed under
one of the clouds above the eagle. The reason for its existence
is completely unknown, but as the cloud actually covers
the star, making it barely visible on some coins, it is
apparent that it was punched into the die at an early phase
of its production process. The variety is very popular,
and examples are always in demand, yet not extremely difficult
to find with approximately 100 pieces known to exist. It
is also the only collectable large reverse star variety,
as the other, BD-6 only has an estimated six to eight pieces
known in all grades.
Interestingly, BD-6 was struck after all
1804 circulation strikes had been delivered, and thus is
the last circulation strike eagle of this type which had
been made. It appeared that the obverse die was still considered
to be good enough for coinage when a delivery of additional
eagles was need in late 1804. As the reverse die was the
same on BD-6 as well as the only known 1804 variety, emission
sequence has been determined by analysis of the die cracks
on the coin. It was the only eagle variety out of 33 that
Harry W. Bass never included in his collection, which would
have otherwise been complete. Today, it still ranks as the
most complete early gold coin collection ever formed.
Of the varieties with small reverse stars,
the BD-3 is by far the most available. Together with the
other small star varieties, it is more or less available,
although some searching might be necessary to find a problem-free
piece. Some mint state pieces exist, including a single
PCGS MS-65 piece, which should be considered with great
care when it is offered for auction. In MS-63, this issue
remains scarce and is much harder to find than the more
available 1801, as a date. In lower grades, they appear
to be scarce and usually found in lower about uncirculated
condition, as usually seen in this series. The same goes
for the large/extra star variety, which also has a single
piece which has been graded by NGC as MS-66. Regardless
of variety, that coin is considered to be the finest known
for the date. As on all dates of this type, striking quality
varies, as well as the amount of adjustment marks. For the
conscious collector pieces with high eye-appeal should always
be favored over dull and weakly struck pieces lacking eye-appeal.
