1797 Capped Bust, Small Eagle $10 tops $250K
- Published: Aug 29, 2016, 12 PM
Nearly $60 million in rare coins and currency traded hands at auctions during this year’s American Numismatic Association World’s Fair of Money in Anaheim, Calif.
Stack’s Bowers Galleries totaled more than $21 million in its official ANA auctions while Heritage saw more than $38 million in its sales.
Stack’s Bowers Executive Vice President Christine Karstedt said after the sale, “Collectors demonstrated an enthusiasm for originality and true rarity across all series, indicating demand for premium quality coins at every level from common date Morgan dollars to world-class rarities.”
Here is one of three sold gold coins we're profiling in this week's Market Analysis:
1797 Capped Bust, Small Eagle gold $10 eagle, PCGS Mint State 61
A colleague’s favorite coin in the ANA auctions was this 1797 Capped Bust, Small Eagle gold $10 eagle graded Mint State 61 by Professional Coin Grading Service. It combines a Small Eagle reverse die used for 1796 issues with a new 1797 obverse die that features a rather unbalanced star arrangement on the obverse, where the final star overlaps slightly with the 1 in the date.
After 1797, 13-Star obverse dies were standard to signify the original 13 colonies (and to avoid the work involved in adding a new star for each new state).
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PCGS has graded just two examples of this rare 18th century gold issue in MS-61, the other being the Pogue example, which realized $440,625 in September 2015. The example offered at Heritage’s August 10 ANA Platinum Night auction sold for $258,500.
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