1795 Half Eagle Small Eagle PCGS MS62 Early Half Eagle

1795 Half Eagle Small Eagle PCGS MS62 - 1795 $5 Small Eagle, PCGS MS62. Early Half Eagle. BD-6, R5. Here is an exceptional Mint State 1795 Small Eagle Half Eagle that retains significant, original mint luster within its devices. The strike is far above average with nearly full details on the centers of the stars, Libertys hair, and the eagles breast feathers. The dentils are full and sharp on both sides. The coin is a mixture of yellow and greenish-gold with the latter being more obvious in the fields. No wear is present, as expected for a Mint State piece. The surfaces are original and clean for the grade with no notable abrasion marks or other distractions such as adjustment marks. The coin comes in an OGH (old green holder) from PCGS.
The BD-6 variety has the flag of the 5 halfway over the drapery. The tip of the 1 is away from Libertys curl. On the reverse, the second S in STATES is over a previously punched D. This combination of dies is the second and final use of this blundered die. The first use was for BD-5. Dannreuther and Bass speculate that the die error was caused by, either alcohol or a late night party, as the die sinker made numerous slips while preparing this reverse.

Robert Scot designed the half eagle. The obverse design shows a profile of Liberty facing right. Below her is the date which is off center to the left. Between the date and the word LIBERTY on the left side of the coin are ten stars. Another five stars follow LIBERTY down to the bust. Liberty wears a large, soft cap. Her hair flows down and also shows on her forehead. The design was probably taken from a Roman engraving of a Greek goddess. Libertys cap was certainly not a Phrygian or liberty cap. The liberty cap, emblematic of freedom, was worn by freed slaves and freed gladiators in Roman times. It was a close fitting cap used to cover a shorn head, which was one of the ways slaves were identified. Because of the way Libertys hair strands wrap around it, the oversized cap has been called a turban, and the design has been called the Turban Head because of it.

The reverse shows a scrawny eagle perched on a palm branch. This eagle, which looks like no real bird, has been compared to a chicken at best. Its head is turned to the right, and it holds a small wreath in its mouth. The wings, which are stretched out, interrupt the legend UNITED STATES OF AMERICA at the periphery.

The early Mint in Philadelphia had many challenges. Conditions were poor even at times chaotic. Each of the specialists, the designers, engravers, and press operators were men who had previously worked in other fields. Coin manufacturing was a new trade for them. Production was sporadic. For the new Mint to coin each of the mandated denominations, it took four years. This delay was partly because of inexperience and governmental obstacles. Bonds that were unrealistically high were impediments to engravers working with precious metals. Congress was not united on the need for a government mint since private and foreign coinage seemed to work. Because of the non-existent or low production numbers in the early years of the Mint, foreign copper, silver and gold circulated along with American made coins for many years until they were later demonetized.

Record keeping in the Mints early years was fairly inaccurate. At the end of the eighteenth century Philadelphia had recovered from the British occupation and Revolutionary War. It was the second largest city in the English-speaking world, but it could do nothing to protect its citizens from the mosquito-borne epidemic of yellow fever. Its wealthy citizens went to the countryside to escape, and the poor grimly waited their fate. Of course these annual epidemics caused havoc with all manufacturing that required continuity, such as a coinage sequence. The Mint shut operations during the late summer and early fall every year. In addition to yellow fever, disorder at the Mint was also caused by chronic bullion shortages and coin dies that would wear out and had to be re-engraved because they were not taken out of production until they failed completely. Often dies were locked up and later taken out of storage without great attention and care. There was also a jealous Chief Engraver, Robert Scot, who was in his seventies and had failing eyesight.

Thomas Jefferson chose Scot to be the first Chief Engraver of the United States Mint on November 23, 1793. Scot was born in 1744 in Edinburgh, Scotland or England. (Documentary evidence is lacking as to where he was born.) He was trained as a watchmaker in England and learned engraving afterwards. He moved to the United States in 1777, where he worked as an engraver of plates, bills of exchange, and office scales. During the Revolution, he was an engraver of paper money. In 1780 he was made the State Engraver of Virginia. He moved to Philadelphia the next year. He was appointed Chief Engraver of the United States Mint on November 23, 1793 by David Rittenhouse, Mint Director. His salary in 1795 was $1,200 per year. The Mint Director received only $800 dollars per year more. Scots ability to make dies was limited, and in his advanced years he had failing eyesight. His work was somewhat less than that done in Europe at the time, and Scot was criticized for its poor quality. He was responsible for designs of most of Americas first coins. These include the Flowing Hair and the Draped Bust motifs used on early silver coins and the Capped Bust gold coins. Scot also designed the 1794-1797 half-cent, the 1800-1808 draped bust half-cent, and the Thomas Jefferson Indian Peace Medal. He died on November 1, 1823 and was succeeded by William Kneass as Chief Engraver.

The 1795 BD-6 half eagle has an R5 rarity rating. In its population report, PCGS shows the present coin as the second finest known of this variety. Only 2 examples graded higher by one point than the current piece.