1795 Eagle 13 Leaves - 1795 $10 NGC MS60. Crisp! U.S.'s first Eagle! T-5. B-4B. The largest denomination struck in coin until the mid 19th century was the gold eagle, or $10 gold coin. Established by the Mint act of 1792, it was valued at ten silver dollars. The weight was specified at 16 grams of pure gold (247 4/6 grain), or 17.5 grams of standard gold (270 grain), which added a small percentage of other metals (mostly silver with some copper) to make the metal more durable in circulation. While authorized in 1792, it would take until 1795 before the first eagles were struck, after several denominations of copper and silver coins, and the first gold coins valued at five dollars (half eagles).

The first eagles were designed by Chief Engraver Robert Scot. Personally appointed by President Thomas Jefferson, Scot had taken the position in November of 1793. Born in England, he appeared in the early 1780s in Philadelphia, where he apparently worked as a watchmaker. Within a few years, he was also engraving, as several Revolutionary notes are known from his hand. Although not dated, an engraving in the book Freemasonry in Pennsylvania 1727-1907, published in 1908 showed an engraving of Masons Arms by Robert Scot. The book notes that this appears to have been his earliest work in this country.

The first eagles utilizing Robert Scots design were struck in September of 1795. The first of these, a total of 1,097 $10 gold pieces were delivered on the 22nd of that month, and it is believed that these were all of the BD (Bass-Dannreuther, Early U.S. gold coin varieties)-1 die pair. This variety appears to be the most common die pair of this type, although collecting and classifying these by variety is a study only undertaken by the most ambitious specialists. The estimated mintage of this variety is between 2,795 and 5,583 in that reference, as early mintages are vague and unreliable. The number of pieces known ranges between 250 and 350. Compared to the other varieties, this variety appears, with the other three 1795, 13 leaves varieties ranging from R-4+ (90-110 known) to R-5 (35 to 60 known). The latter varieties are believed to have been struck until 1796 or even 1797, as the early dies were used until they were completely unusable, often after being severely lapped and put back into usage.

There are two distinctive varieties known for the 1795 eagles, which are also listed in the Red book. Besides the previously mentioned 13 leaves variety, with thirteen leaves under the eagle, each representing one of the states in 1776, there is also a 9 leaves variety. The reason for its existence is unknown, but it appears to be made intentional, with 11 leaves varieties known for both 1796 and 1797 leaves. In any case, the 9 leaves 1795 eagles (BD-3) are very rare with approximately twenty pieces known in all grades, making it the scarcest die variety for the type. Most of the remaining pieces are in lower grades, but a number of uncirculated examples are known as well. These are mostly impounded in specialized collections, and every opportunity to obtain one should be considered with great care.

The 13 leaves variety is much more available, and in fact the most common coin for the type. This variety is occasionally available in high grades, exhibiting semi prooflike surfaces. The finest piece has been graded by NGC MS-66, but has not been auctioned or appeared at the public market in that grade yet. A number of MS-63 and MS-64 pieces are also included in private collections, with the majority of uncirculated pieces in the MS-60 to 62 grades. Circulated coins are available on most auctions, often cleaned and damaged, offering great opportunities for collectors on a tight budget. With its popularity as type coins, however, one should not expect to find a bargain when buying a 1795 eagle in any grade. Conscious collectors should opt to include premium-quality pieces with high eye-appeal, showing the magnificent status these large, early United States gold coinage have had on everyone for the last two centuries.