1799 Early $1 (1799 Early Silver Dollar) NGC MS62. BB-165, B-8. This mint state, early date 1799 Silver Dollar, which is tied for the second finest, features an extraordinary obverse strike for an eighteenth century United States coin. We see full details on the highest points of Libertys hair, most of her drapery lines, and the centers of the stars. The reverse has full details on the shield. Both sides have full dentils. Subdued mint luster is found in the center of the obverse and the upper part of the reverse. The coin is silver-grey with highlights of lavender, gold, tan, blue-green, and blue. No wear is seen, as expected for a mint state coin. The surfaces are extremely clean and original, suggestive of a piece that could grade several points higher, and no adjustment marks are seen.

The Draped Bust, Heraldic Eagle type dollar was made from 1798 to 1804. The obverse shows a draped bust of Liberty facing right. Above is the inscription, LIBERTY, and the date is below. Seven six-pointed stars are to the left and six are to the right. The portrait, taken from a drawing by the famous artist Gilbert Stuart, is of Ann Bingham. John Eckstein translated this drawing to models for Engraver Robert Scot. Evidently Eckstein made the models poorly, which might explain why Stuarts family refused to acknowledge his role in the coinage design. The eagle with up stretched wings and a Union shield on its breast is called a heraldic eagle. E PLURIBUS UNUM is inscribed on a banner that curls across the left wing and under the right. The inscription UNITED STATES OF AMERICA is in an arc near the periphery interrupted by the wing tips. In an arc pattern are thirteen stars above the eagles head under the clouds. The edge is lettered, and dentils are near the edge on both sides of the coin.

Robert Scot placed the arrows in the wrong talon in what some have called colossal design blunder. Arrows symbolize aggressive militarism when held in the eagles right talon, on the left side. They should have been placed in the left talon with the olive branch in the right. If this rearrangement was unintentional, it shows a new, inexperienced country that cant even get its symbolism correct. If this was a deliberate rearrangement, it shows a young country taking an aggressive stance during a time of conflict. In 1799 the country was engaged with France in an undeclared naval war. Perhaps this symbolism was being used to make a statement to France and others about the sovereignty of the United States.

The omission of the denomination was intentional. Except for its edge, the coin has no denomination-- something that might appear as a sign of ineptitude. However, since United States coinage was new to the world market of the 18th century, the term dollar would have been unfamiliar to merchants of the day. Like European coinage of the time, silver and gold pieces were valued by their weight and fineness so the denomination was largely irrelevant.

The Draped Bust, Heraldic Eagle series had several varieties. The first two reverse dies of 1798 have five vertical lines in the stripes of the shield. All dollars following them had four vertical lines. Production of the series continued through 1804, but the famous 1804 dollar was struck in 1834 from new dies and then restruck in 1859. The Red Book A Guide Book of United States Coins by R.S. Yeoman, recognizes six varieties of 1799. These are the 99 over 98, 15 Star Reverse ; the 99 over 98 13 Star Reverse; the Irregular Date, 15 Star Reverse; the Irregular Date 13 Star Reverse; the Normal Date; and the 8 Stars Left, 5 Right. The present coin, the BB-165 is a Normal Date variety with 7 x 6 obverse stars.

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. In addition to yellow fever, chaos at the Mint was also caused by chronic bullion shortages, coin dies that would wear out and had to be re-engraved because they were not taken out of production until they failed completely, and a Chief Engraver, Robert Scot, who was in his seventies and had failing eyesight.

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 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 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. He was responsible for designs of most of Americas first coins. These include the Flowing Hair and the Draped Bust motifs used on the early silver coins, and the gold quarter eagle, half eagle and eagle Capped Busts. 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.

In its population report NGC shows the BB-165 with 24 certified in all grades. In MS62 there are 2 with 1 better. At PCGS there is 1 in MS62 with none better. These numbers do not account for resubmissions or crossovers.