Mint State Preservation 1804 Capped Bust Right Eagle Selling at Auction with Stacks Bowers Galleries

Описание: Lot 4032: https://auctions.stacksbowers.com/lot...

1804 Capped Bust Right Eagle. BD-1, Taraszka-31. Rarity-4+. Crosslet 4. MS-61 (NGC).

Die Variety: BD-1, Taraszka-31, Breen 1-A, HBCC-3201. This variety represents the only use of this obverse die and the first of two uses of this reverse die. The obverse exhibits a crosslet 4 in the date, easily distinguishing this circulation strike variety of the 1804 eagle from its Proof counterpart (BD-2) from a die made in 1834 with a plain 4 in the 1804 date. A concentration of die polish lines is evident between the end of Liberty's bust and the border, and there are several small die rust lumps around the letters ER in LIBERTY. Additionally, the die is slightly buckled in the field areas behind the Liberty cap and around the upper right of Liberty's portrait below the letters BER in LIBERTY. On the reverse, the first letter T in STATES is repunched at its base, there is a berry below the left center of the final letter A in AMERICA, a leaf point in the olive branch points between the letters RI in AMERICA, and there is a tiny die rust lump within the top of the space between vertical stripes 4 and 5 in the shield. This die was later used in the extremely rare 1803 BD-6 pairing, a backdated variety.

Estimated Surviving Population for the Variety: 80 to 100 coins are believed extant in all grades (per Dannreuther).

Commentary: By order of President Thomas Jefferson, the Mint halted $10 gold eagle production on December 31, 1804. Rising bullion prices, which also affected the silver dollar, resulted in most newly minted eagles being exported and melted for their precious metal content. No more circulation strikes of this denomination were produced before 1838, in which year eagle coinage resumed using Christian Gobrecht's Liberty Head design. There would, however, be one final Capped Bust Right eagle issue, the Proof novodel 1804 Plain 4 (BD-2) struck during the 1830s for inclusion in special presentation coinage sets.

Interestingly, the 1804 BD-1 is not the last variety of circulation strike Capped Bust Right eagle produced. That honor goes to the 1803 BD-6 variety, as above, although the entire mintage of the 1804 BD-1 is still included in the Mint's final delivery of 3,757 coins for this denomination from December 28 to 31, 1804. Exactly what forced Mint employees to retire the 1804-dated obverse die and briefly reinstate its 1803-dated counterpart remains a mystery since there are no terminal obverse die state coins known for the 1804 BD-1 variety.

Long heralded as a key date issue in its series, the 1804 is one of the most eagerly sought circulation strike Capped Bust Right eagles. This is the only die pairing of the issue, which means that as a date the circulation strike 1804 is considerably rarer than other multi-variety issues in this series such as the 1799 and 1803.

Associated by date with the famous Proof 1804 Class I Draped Bust silver dollar and Proof 1804 Plain 4 eagle struck in 1834 - two of the classic rarities in U.S. numismatics - and a scarce variety in its own right, the inclusion of an 1804 BD-1 eagle has long been the mark of a significant collection. As one of the finest certified survivors, this lovely Mint State example would serve as a highlight in the most advanced cabinet.

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