1797 Eagle - Large
Eagle - Eagle and Shield on Reverse
1797 Eagle - After featuring
a small eagle on the reverse of the largest gold coins of the
United States since 1795, the Mint changed to a heraldic design
in mid 1797. The obverse remained the same, with the new reverse
based on the obverse of the Great Seal of the United States.
The so-called national coat of arms was based on a design made
by Charles Thomson in 1782 when he was Secretary of the Continental
Congress. It was first featured on the quarter eagles made in
1796, and is still seen in American commerce on the paper money
of the one dollar denomination.
The total mintage of the 1797 eagle (1797 large eagle) ten
dollar gold has traditionally been estimated to be 10,940
pieces, compromising of the deliveries from June 7, 1797 to
January 30, 1798. Additional pieces, overdated 1798/7 were
delivered on February 17 and February 28, 1798. After the
last February delivery no new eagles would be delivered until
May 1799. These numbers and dates have long been considered
to be correct, but recent research published in both United
States Ten Dollar Gold Eagles, 1795-1804 by Anthony J. Taraszka
and Early U.S. Gold Coin Varieties by Bass-Dannreuther has
proved that the long anticipated numbers might be incorrect.
Three different die varieties of 1797 eagle (1797 large eagle
ten dollar gold pieces) are known. Although the series is
very seldom collected by varieties, the study of these different
aspects is very interesting and has led to some interesting
new discoveries. All three varieties were struck from a single
obverse die, with the stars arranged ten left, six right.
The different varieties are easily distinguished when viewed
side by side, with the eagle’s neck being long and thin
(BD-2, R-4+), short and thin (BD-3, R-5) or long and thin
(BD-4, R-4+). By studying the obverse die state, which ranges
from perfect on some BD-2 pieces to cracked and lapped on
the final BD-4 coins, it has been concluded that the BD-3
and BD-4 pieces were struck after all 1798 eagles. These employ
the same reverse die, which is in an earlier state on those
coins then on the two final 1797 gold eagles.
With this information, one has to conclude that it seems
highly unlikely that the last two deliveries consisted of
only 1798 dated coins. The emission sequence has now been
determined to be 1797 BD-2 ---> both 1798 varieties --->
1797 BD-3 ---> 1797 BD-4, providing the information that
perhaps all 1798 eagles were delivered in January 1798, with
the 1797 eagle obverse die still in the condition that it
was able to strike the 1,742 coins compromising the deliveries
of February 1798. It was unknown at the time that no new coins
of the ten dollar denomination would be struck until May 1799,
so perhaps Mint personnel wanted to save the 1798 dated dies
for further use.
The 1797 eagle (1797 large eagle ten dollar gold pieces)
also feature a characteristic seen on the remaining dates
of the series. The stars, displayed above the eagle are featured
in either a “arc” or “cross” pattern.
The first are believed to be the product of engraver Robert
Scot, who also had designed the small eagle design. The latter
was featured on dies engraved by John Smith Gardner All three
reverse dies used on the 1797 coinage are believed to be the
work of John Smith Gardner, although the BD-3 variety is open
to debate. It features elements of both engravers, which has
led some authors to conclude that the die was a corporation
between both Smith and Garner. After 1799, Robert Scot’s
arc pattern of reverse stars was featured on all reverse dies.
The estimated number of survivors for this date, regardless
of variety, is usually considered to be between 200 and 250
pieces. While this is by no means a high number, examples
are relatively available in Extremely Fine and About Uncirculated
grades, in the context of the series of course. All three
varieties are usually offered a few times a year at public
auction, although some patience might be needed when acquiring
the BD-3 variety. Certain die states are exceptionally scarce,
like the State d/a of BD-4. These rarities are usually do
not have a big influence on the price levels of these pieces,
as there are currently no published sets of the series by
date, variety and die state.
Regardless of variety, mint state survivors are very rare,
as are all dates of the series. Most that do exist are heavily
abraded, grading not higher than MS-62. A few select pieces
exist that have been graded MS-63, and a single MS-64 is known
(graded by NGC). Offerings of uncirculated examples are very
rare, with no more than a handful pieces being offered at
public auction within a given year. With all these factors,
the ownership of a premium quality mint state 1797 eagle (1797
large eagle ten dollar gold piece) must be considered a true
prize for the connoisseur of these magnificent coins.
Robert Scott's designs
for this denomination copied those of the quarter eagle. Ms.
Libety's buxom draped and capped effigy continued from 1795
- 1797; the heraldic eagle derived from that of the Great Seal
of the United States, but with the same blunder or ill-timed
piece of saber rattling as on the smaller denominations: The
warlike arrows are in the dexter or more honorable claw, outranking
the olive branch for peace.
If the conjectured and
reconstructed mintage figures of the previous section are correct,
then eagle coinage of the new design must have begun with [10,840]
between June 7, 1797, and Jan 30, 1798. These coins have only
13 reverse stars, evidently completed before that decision.
Possibly 2% survive, mostly VF to EF.
Two of the three reverses
have "cross" star arrangement (stars are in intersecting straight
lines forming diamond-shaped patterns), as described in the
introductory texts just cited; the third has the "arc" arrangement:
a row of six paralleling clouds, a row of five under them, and
the twelfth and thirteenth flanking beak and neck. The "cross"
reverses are probably the earliest completed by whichever assistant
or apprentice worked in 1798 - 1799; if later research in pay
records locates his name and inclusive dates, we may be able
to deduce time of manufacture and use of these dies, and more
accurate mintage figures.
The great rarities of this
period are the two vars. dated 1798/7. The two deliveries of
[900] and [842], February 17 and 28, 1798, are believed to comprise,
respectively, 6836 with stars 9 + 4, and 6837 with stars 7 +
6. Coinage of eagles was interrupted thereafter until May 14,
1799. Early breakage of both obverse dies may have been why.
In extreme contrast, the
date 1799 (stars 8 + 5 henceforth) is one of the two most often
seen of this design, the other being 1801. Between May 14, 1799,
and September 4, 1800, [37,449] were struck, all believed dated
1799. Of the five obverses and seven reverse in 10 combinations,
two are plentiful, forming the majority of survivors of this
date; with the 1801, they comprise the majority of this design.
About 2% survive, including many UNCs. Some of these reverse
1799 - 1803 may be half dollar dies.
Again in contrast, the
single variety dated 1800 (believed to comprise only the [5,999]
of November 18 - 25, 1800) is rare, especially in mint state;
it's limited mintage is doubtless relevant to early breakage
of obverse die. Possibly 2% or slightly less survive in all
grades.
And still greater contrast,
the date 1801 exists in two varieties, one (close date, eighth
star far from cap: Breen 1-A, reverse of 1799 - 1800) Extreme
rare; the other (wide date, eighth star very close to cap, reverse
of 1803) commonest of all, 1795 - 1804. Mintage figure [44,344]
includes [15,090] delivered in 1802 from 1801 - dated dies.
At a survival ratio of about 2%, nearly 1,000 are around, many
UNC.
Eagle of 1803 share a peculiarity
with half eagle 1800 - 3: A single obv. die is combined with
several very similar revers. Unlike the half eagle, but like
the half dollars, the eagles fall into two naked-eye reverse
types: small and large reverse stars, the small as in 1797 -
1801, the large as in 1804. Large stars are as wide as either
S in STATES. The first of the two large stars reverse has traces
of a small star within the rightmost cloud; the other die reappears
with the single 1804 obverse. Minstate include [8,979] August
19 - October 1803 (Small stars?) plus [6,038] June 1 - December
11, 1804 (Large stars?); less than 2% survived the melting pots.
The final date, 1804, coinage
of this denomination halted, pursuant to verbal orders from
Pres. Thomas Jefferson. The reason was extensive meltings by
bullion dealers, exactly as with the silver dollars; neither
denomination would reappear in circulation for over 30 years.
But as with the dollars, a proof-only 1804 with plain 4 and
beaded bolded borders was a mysterious addition to the series.
The final variety remained
unexplained until 1962. It was first pictured - without special
comment in a photographic plate of Liberty heads in 1869 AJN;
It's rare auction appearances were notable rarely because all
specimens seen were proofs. Only with the discovery of the King
of Siam's original cased proof set of 1834 for inclusion in
the four cased proof sets intended for diplomatic presentation.
They are rarer than the 1907 Rolled Edge with Periods or the
1933, and twice as rare as the 1804 dollar, but have not had
the publicity of those. There are also yet had opportunity to
study these to ascertain if they were made in 1834 or restruck
in 1858 - 1860. If they are on half dollar planchets, weights
will establish the time of issue as with the 1838 - 1839 half
dollar patterns: Half dollar blanks 1794 - 1836 weigh 208 grs.
= 13.48 gms.; 1853 - 1873, 192 grs. = 12.44 gms.
Even without the 1804 backdated
proofs, the set of Heraldic eagles has become difficult to complete,
partly because of high floor prices on even the least rare varieties,
partly because type collector pressure has made the 1798/7 +
6 seem much rarer than it is.
1797 Stars 10 + 6. [10,940]
Reverse "Cross" star arrangement.
Breen 2-B, 2-C = Hilt
6E, 6F. Hilt thinks these are [4,449] + [2,561] of June 29,
1797 - January 23, 1798.
The variety ill. (2-C)
is much rarer, especially with break between ER to leaf.
