SOLD for $ 2.6M including premium
After a difficult start, the Federal US coinage enters in 1795 in its industrial phase. Its first gold coins are released in accordance with the Coinage Act of 1792. The production is entirely made in Philadelphia, from the origins to 1838.
The first delivery of 744 half eagles is performed on July 31, 1795, followed on September 22 by the first 1097 eagles. The production of eagles marked as 1795 lasts until March 1796 before the availability of the 1796 dies. Numismatists recognize five sub-variants of the 1795 eagle numbered 1 to 5 by Bass and Dannreuther, differentiated by the marriage of the dies while no chronology is established.
The quantities issued with the mark of 1795 are low : 8707 half eagles and 5583 eagles. The quarter eagle will wait for the following year. The double eagle, not defined in 1792, will be launched in 1849. The Americans hoped that the half eagle competes in the international market with the British guinea, the louis from France, the Portuguese 4,000 reis and the Spanish 2 escudos.
In commercial matters, success is not immediate. Eagles, even less suited for these transactions than the half eagles, did not extensively circulate and some coins remained in mint state while their early owners were waiting for better times.
An eagle graded MS66+ by PCGS is undeniably the best 1795 example by the beauty of its color and the quality of its strike. It belongs to the rare BD-4 variant. It is estimated $ 750K for sale on September 30 in New York by Stack's Bowers in association with Sotheby's, lot 2092.
The BD-5 variant, as rare as the BD-4, is dominated by two MS65 coins, both recently sold by Heritage. One of them, graded by NGC, was sold for $ 680K including premium on 9 August 2013. The other, graded by PCGS, was sold for $ 880K including premium on 7 August 2014.
The first delivery of 744 half eagles is performed on July 31, 1795, followed on September 22 by the first 1097 eagles. The production of eagles marked as 1795 lasts until March 1796 before the availability of the 1796 dies. Numismatists recognize five sub-variants of the 1795 eagle numbered 1 to 5 by Bass and Dannreuther, differentiated by the marriage of the dies while no chronology is established.
The quantities issued with the mark of 1795 are low : 8707 half eagles and 5583 eagles. The quarter eagle will wait for the following year. The double eagle, not defined in 1792, will be launched in 1849. The Americans hoped that the half eagle competes in the international market with the British guinea, the louis from France, the Portuguese 4,000 reis and the Spanish 2 escudos.
In commercial matters, success is not immediate. Eagles, even less suited for these transactions than the half eagles, did not extensively circulate and some coins remained in mint state while their early owners were waiting for better times.
An eagle graded MS66+ by PCGS is undeniably the best 1795 example by the beauty of its color and the quality of its strike. It belongs to the rare BD-4 variant. It is estimated $ 750K for sale on September 30 in New York by Stack's Bowers in association with Sotheby's, lot 2092.
The BD-5 variant, as rare as the BD-4, is dominated by two MS65 coins, both recently sold by Heritage. One of them, graded by NGC, was sold for $ 680K including premium on 9 August 2013. The other, graded by PCGS, was sold for $ 880K including premium on 7 August 2014.
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