1804 Gold Eagle - The 1804 eagle (1804 ten dollar gold piece) is one of the famous coins within American numismatics. It has been fabled as the last coin for the type, and in fact the last 1804 eagle struck for circulation for over thirty years. It is rare in all grades, with a mintage that is now considered to have been between 2,500 to 3,757 pieces. Classic references usually cited the latter number, although recent die research has revealed that the true number of 1804 eagle pieces might have been lower. Whatever the number is, these 1804 eagle pieces have proved to be extremely popular, but generally are not as scarce as usually thought. The estimated number of survivors is usually determined at 80-100 pieces, of which a considerable number of pieces have been damaged in one way or the other. As such, finding original, problem-free pieces can be a true challenge for the devoted specialist of early American gold coinage.

This issue is known for being part of one of the most famous sets in American coinage, the Proof sets produced in 1834-1835. They were made for presentation purposes, and featured all denomination in circulation at the time. As for the Silver dollar and Gold eagle denomination, which had not been struck for 30 years, the last year was struck, meaning 1804 eagle for both denominations. Given the fact that no regular issue 1804 Silver dollars had been struck at the time, apparently forgotten by Mint employees in the 1830s, it has grown into one of the major rarities of American numismatics. The eagle, however, is equally as rare and remains to be a true rarity which is seldom offered at auction. The only piece which has been offered in recent times was in the King of Siam set, a complete Proof set in its original case which sold for 8.5 Million dollars in 2005.

Only three 1804 Proof eagles are known, although at least four were struck and some might have been restruck at a later time. Some might have been struck and later melted, although facts are scarce. Compared to a regular issue, there are notable differences which identify a Proof 1804 eagle instantly. Unlike the issues struck in 1804, the Proofs were struck using a closed collar, different reed counts and true reflectivity on both sides. It is often identified as being a fantasy piece, whereas it is not, as the Proof sets were meant to be given to foreign officials for presentation purposes.

All circulation strikes were struck from a single die pair. Especially the reverse is interesting, as it was also used to strike a variety of the 1803 eagles. By die state research published in Early U.S. Gold Coin Varieties, Bass-Dannreuther have discovered that a number of 1803 eagles were struck after all 1804 eagles had been struck. As such, while this is the last date of the series, it is not the last issue. The obverse remained in quite good condition during the striking process, only developing a minor crack from the first star to the 1 in the date. Furthermore, a crosslet 4 is noted in the date, which identifies a circulation strike eagle from any of the Proof restrikes featuring a plain 4 in the date.

While still considered to be a common date within the context of the series, 1804 eagles are scarce and intensive searching is often needed to find the right piece. Many pieces are in lower grades, or as previously mentioned, have been mistreated in the past. True mint state survivors are rare, and always in demand by people putting together date sets of this early American gold coinage, which helped to build this country. Striking quality usually is a bit lacking, as the majority of pieces show considerable weakness in the centers. Even correctly graded, original about uncirculated examples are true rarities and sell for great amounts when offered at auction. In uncirculated condition, this issue remains to be one of the most difficult to find, despite its status as an “available date”.