1799 $5 (1799 Half Eagle) PCGS AU55. Early Half Eagle. This 1799 Half Eagle is the BD-4 variety, which is R-7. According to the BD book there is an estimated 10-12 known, but with only 4 auction appearances between 1990-2005 it would appear that this coin is even rarer still. Pedigreed to the famous Bass Museum Collection.

This scarce early date 1799 Half Eagle has a strong strike as indicated by complete dentils on both sides and good hair detail on the obverse, as well as strength on the eagles upper wings, stars, clouds, and upper shield of the reverse. There is sufficient separation in the lines of the cap, the hair, and the drapery to warrant the grade. Some mint luster remains within the devices.

There are two varieties of this coin, with large and small stars. The large star variety is by far the more common. The present coin is the more rare small star variety.

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. 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 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 reverse shows a heraldic eagle. However, Scott mixed up the positions of the arrows and olive branch. The arrows held in the wrong claw signify defiant militarism. Either Scott made an error copying the image of the Great Seal, or he deliberately changed the symbolism. Perhaps the design was a warning to France, with whom the United States was engaged in an undeclared naval war, and others to be mindful of the new countrys sovereignty. In the field above the eagle are thirteen stars and above them, seven clouds. A banner from wing to wing has the motto E PLURIBUS UNUM.

The early half 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. 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. 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.

A Major early US gold rarity.