1799 $10 Draped Bust Gold Eagle Small Stars Obverse Heraldic Eagle PCGS MS64
$195,000.00
1 in stock
1799 $10 Draped Bust Gold Eagle
Small Stars Obverse Heraldic Eagle
PCGS MS64
Certification: 98562.64/55815356
Mintage: 37,449 (400-550 known)
PCGS POP: 12/6
PCGS Price Guide: $260,000
This is a magnificent coin—a classic rarity of early America and among the most beautiful a collector can acquire. It displays beautiful greenish-gold surfaces that enhance the Liberty head, Heraldic Eagle, and other devices. The iconic Draped Bust Eagle was beautifully crafted by Chief Engraver Robert Scot in 1795. PCGS has graded only 215 of the Small Stars 1799 variety. While this variety is overall scarce, in Mint State grades it becomes rare, and exceedingly so in MS64 and above. There are 12 in MS64 with only 6 finer.
But why are there relatively few survivors today in the 21st century? Economist Arthur B. Woodford writes, “as early as 1798 it was stated in Congress that a large quantity [of gold $10 Eagles] had been seen in a goldsmith’s window in England.” After hearing this news, one Congressman called out, “Thus easily do our eagles take their flight.” The 15:1 silver-to-gold ratio created by Alexander Hamilton left gold coins (1795-1834) undervalued, encouraging them to be hoarded or sent to Europe, where they were melted and sold for their bullion value.
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