TURBAN HEAD FIVE
DOLLARS OR HALF EAGLE (1795 - 1807)
OR CAPPED BUST TO RIGHT (1795 - 1807)
SMALL EAGLE ON REVERSE
(1795 - 1798)
Half
eagles appeared in 1795, two years after the first
American copper coins and one year after the first
silver coins. Much of the delay in the appearance
of the $5 denomination can be attributed to a lack
of gold bullion being deposited at the Mint, but we
also know that some of the Mint officials had difficulty
obtaining performance bonds allowing them to handle
precious metals.
The first type shows
a liberty cap-carried on a pole on the half cents
and large cents planted firmly on Liberty's head.
A long strand of hair wraps unnaturally around the
cap, creating the false impression of a turban (this
design is sometimes called the Turban Head). The reverse
features a scrawny eagle perched atop a palm branch,
holding a wreath in its beak. The same designs were
used on the first $10 gold pieces, which also debuted
in 1795. Only the Philadelphia Mint produced this
type. No Proofs or presentations strikes were made.
Mintages for this type are very low, and survivors
of any date are very scarce, making it one of the
most desirable and valuable of all early types. Because
the dies were hand-made, numerous varieties exist.
Designed by Robert
Scot. The obverse features a head of Liberty facing
right, wearing not a turban, but a stylized freedman's
cap (the turban confusion probably came about by the
long lock of hair that wraps unnaturally around the
cap). The word LIBERTY appears above and to the right
of her head. Either 15 or 16 stars are arranged on
either side of Liberty's head and the date appears
at the base of the obverse. The reverse shows a wan-looking
eagle perched on a palm branch, its wings outstretched,
holding a wreath of an olive branch in its beak. The
words UNITED STATES OF AMERICA arc around the top
of the reverse. Edge: reeded. Standards: weight, 8.75
grams; composition, 91.67% gold / 8.33% silver and
copper; diameter, 25 mm.
HERALDIC EAGLE or
EAGLE AND SHIELD ON REVERSE (1795 - 1807)
Capped Bust to Right,
Heraldic Eagle (1795-1807. In 1797, Robert Scot created
a heraldic reverse design for the half eagle and eagle,
a theme that would eventually be echoed on all U.S.
coins except for the half cent and cent. (Coins of this
type dated 1795 are thought to have been struck in 1798.)
Scot's Heraldic Eagle reverse borrowed heavily from
the Great Seal of the United States, which was affixed
to all official government documents.
The success of the half
eagle depended on the quantity of gold bullion deposited
at the Mint. Because only small amounts of gold were
received by the Mint in its early years, quantities
struck for this type are generally low. However, mintages
trended upward as the years passed. Coins were struck
in every year except 1801, when all of the gold deposits
were used to strike $10 coins.
The 1795-dated Heraldic
Eagle half eagle was actually struck later, using an
odd combination of a leftover 1795 obverse and a reverse
of the new type. Most likely, this odd "mule"
was struck in 1798, at the same time as the 1798 Small
Eagle-reverse half eagle. This type is replete with
interesting varieties, including some overdates (1797/5,
1802/1 and 1803/2). In 1797, obverses can be found with
either 15 or 16 Stars (this number was lowered to 13
stars beginning in 1798). In 1798, obverses come with
either a large or a small 8 in the date and, on the
reverse, either 13 or 14 stars float above the eagle's
head. As with most early American gold and silver coins,
this type often has problems with adjustment marks and/or
weak or uneven strikes. Buyers should also beware of
cleaned and/or repaired examples. All examples of this
type were struck at the Philadelphia Mint (the only
coinage facility existing at the time). No Proofs were
made, but one 1795 eagle with a Heraldic Eagle reverse
has been certified as a Specimen.
Designed by Robert Scot. Same obverse design as the
previous. The reverse features a heraldic eagle, patterned
after the Great Seal of the United States. UNITED STATES
OF AMERICA surrounds the eagle. Edge: reeded. Standards:
weight, 8.75 grams; composition, 91.67% gold / 8.33%
silver and copper; diameter, 25 mm.
Early Half Eagle - Early Half Eagles 1795-1807 - Turban Head Five
Dollars - Turban Head Half Eagle - Capped Bust to Right - Heraldic
Eagle - Small Eagle
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