1798 $5 (1798 Half Eagle) Large 8, 13 Stars, NGC AU58. A significant amount of mint luster is seen on the devices of this early 1798 Gold Eagle. Very light wear on the highest points and light abrasion keep this coin from a mint state grade. The strike shows central weakness on the obverse, but it is strong on stars and dentils. On the reverse the strike is strong on the shield and the eagles wings. The reverse shield has six vertical stripes each shaded with five lines and seven white stripes.

There is a die break on the reverse next to the O in OF and a smaller one between the E and S in STATES. President Thomas Jefferson appointed Robert Scot Chief Engraver of the Mint on November 23, 1793. Although he was criticized for his designs, they were the first struck for the United States. Scot had been an engraver of paper money during the Revolution. His ability to work as a die cutter was somewhat limited, and he had failing eyesight. Despite these limitations he engraved dies that created the first copper, silver, and gold coinage. The coins he produced had errors, and they were not the same quality as European coinage, however, Congress would not allow a European firm to contract the work. It was the best that the young country could produce at the time.

The design shows Liberty in profile facing right with the date below and slightly to the left. Above the date on the left side are eight stars followed by LIBERTY and the five remaining stars. Liberty is wearing a large, soft cap, and her hair flows down her side and back and shows on her forehead. The bust is strangely draped for a classical design, which was Scots goal. Dentils are at the periphery of both sides of the coin. The reverse shows the heraldic eagle modified from the Great Seal of the United States. The legend UNITED STATES OF AMERICA surrounds the design, interrupted by the wing tips. A banner that goes over the right wing and under the left has the motto E PLURIBUS UNUM. There are thirteen stars between the eagles head and the clouds above. In its claws the eagle holds the traditional arrows and olive branch, symbolic of preparedness and peace. The shield, with its vertical and horizontal stripes, represents the Union.

In an incredible blunder Scot mixed up the positions of arrows and olive branch. Traditionally the olive branch is held in the eagles dexter or right, honorable, claw. In Scots version, the arrows are honorable and the olive branch is in the less honorable or sinister claw. This mistaken symbolism, if intended, shows either defiant militarism or political stupidity. On the other hand, if not intended, the mistake shows a blundering young country that cant even get its symbolism correct.

All early gold is rare and eagerly sought after by collectors and specialists. In its population report NGC shows 11 Large 8, 13 stars in AU58 with 8 better.