1797 $10 Large Eagle MS(PCGS#8559)

Summer 2026 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

2388

Grade

AU58

Price

43,920

Lot Description

BD Die State d/b. A handsome piece with rich honey-orange color blanketing surfaces that show delicate pinkish-rose highlights that appear to first toward the borders. Both sides retain considerable mint luster in a softly frosted texture; some prooflike character to the finish is also noted. Light handling marks are mostly visible on the obverse where the broad open fields of this design are most vulnerable, but there really are no sizable blemishes worthy of individual mention. Nicely struck with good central detail.<p>The mintage for the 1797 Heraldic Eagle ten provided in most numismatic references is 10,940 coins, based on Walter Breen's assumption that production from the new Heraldic Eagle reverse dies began on June 7, 1797, with coins bearing that date continuing to be delivered through January 30, 1798. According to Mint records, 10,940 eagles were delivered during that period. Based on a more exhaustive study of die states and emission sequences, as well as modern estimates on the number of coins extant, John W. Dannreuther (2006) provides a broader range of 8,750 to 12,500 coins struck for the 1797 Heraldic Eagle.<p>The mintage for this issue - whatever it is - was achieved using three die marriages that share the same obverse die. Fortunately for today's numismatists, the style of eagle on the reverse is so different that the varieties are easily distinguished even at arm's length. BD-4 exhibits a long thick neck to the eagle that is transitional between the tall and short neck reverse styles of the type, as well as being unique to this die pairing. As such, this is an important subvariant of the Heraldic Eagle reverse that deserves greater recognition among early gold specialists. Similar in overall rarity to the 1797 BD-2 variety, BD-4 has 90 to 110 coins believed extant, and any opportunity to acquire an example in today's market is notable.