1799 $10 (1799 Eagle) NGC MS62. Capped Bust Right, BD-7. This well preserved, very rare, mint state, early 1799 Eagle is fully struck on both sides with all of the details readily apparent. It radiates bright, shimmering mint luster, which is unusual for a coin from the late 18th century. The coin shows some light obverse chatter, which probably keeps it from a higher mint state grade. It was struck from slightly rotate dies, which is not mentioned on the NGC insert. All of the obverse stars on 1799 eagle coins have the eight and five arrangement. Two different sized star punches were used resulting in the Large and Small Star varieties. The spacing of the numerals in the date vary. Some have a Close Date, some a Wide Date, and some an Irregular date. The present coin, the BD-7, is the Small Stars, Irregular Date variety. The 17 is tilted right, and star 13 on the reverse is away from the ribbon. Star 12 is away from the beak.

The early eagle coins have no denomination because gold was valued by its weight and fineness as was the European coinage of the time. As seen on contemporary Large Cents, dentils are at the edge of both the obverse and reverse of these coins.
The obverse design shows 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 eight stars. Another five stars follow LIBERTY down to the bust. (There were other numbers and arrangements of the stars including ten and five, and twelve and four among the early eagles.) 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 way slaves were identified. The oversized cap worn by Liberty has been called a turban, and the design has been called the Turban Head because of it.

The Type 1 reverse shows a rather scrawny eagle standing on a branch holding a wreath in its mouth as it looks right. For some, the eagle looks like a chicken with oversized wings. In an arc around the eagle are the words UNITED STATES OF AMERICA.

The Type 2 reverse, issued in 1797, shows a heraldic eagle. However, Scot mixed up the positions of the arrows and olive branch. The arrows held in the wrong claw signify defiant militarism. Either Scot made an error copying the image of the Great Seal, or he deliberately changed the symbolism in keeping with very warlike stance. Considering that the United States at this time was engaged in a naval war with France (the undeclared Franco-American War of 1798 to 1800, which took place of the East coast of North America and the Caribbean and resulted in the end of French privateer attacks on U.S. shipping), the latter is probably more likely. The French would be especially sensitive to a message within the heraldry, and the young United States was brash in that they had just defeated the super power, England in gaining independence. In the field above the eagle are thirteen stars and above them, six (or seven) clouds. A banner from wing to wing has the motto E PLURIBUS UNUM.

Thomas Jefferson chose Robert Scot to be the first Chief Engraver of the United States Mint on November 23, 1793. Scott was born in 1744. It is uncertain if he was born in Edinburgh, Scotland or in England. 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 he was advanced in years with failing eyesight. His work was somewhat less than that done in Europe at the time, and Scot was criticized for its poor quality. Despite these limitations, he was responsible for designs of most of Americas first coins. These include the Flowing Hair and the Draped Bust motifs used on early sliver coins, and the gold quarter eagle, half eagle and eagle. Scot also designed the 1794-1797 half cent, the 1800-1808 draped bust half cent, and the Thomas Jefferson Indian Peace Medal. Scot died on November 1, 1823 and was succeeded by William Kneass as Chief Engraver.

While the 1799 Eagle is among the most frequently encountered coins of the early 18th century, it is estimated that no more than one or two percent have survived, especially in mint condition. The original mintage of the 1799 Eagle was 37,449, which includes all varieties. In its population report NGC shows 18 Small Stars on Obverse in all grades. In MS62 there are 3 with 3 better. PCGS shows 22 with 17 better. These numbers do not account for resubmissions or crossovers.