Early Rare Coins Type Set:
The deluxe type set of early U.S. rare coins all dated in
the 1790s is worthy of consideration because of its historical
and numismatic importance. Coins of the 1790s are products
of the first U.S. Mint in Philadelphia. This choice set
contains an example of each denomination struck in those
early years, a true American treasure.
The historical connection should not be
missed. Thomas Jefferson, Washington’s Secretary of
State was in charge of the newly established Mint. To fill
the vacancy of Chief Engraver, he suggested that Robert
Scot be hired. Scot had been a watchmaker and probably did
engraving on their cases. During the Revolutionary War he
engraved plates for money and bills of exchange for Robert
Morris. Later he engraved plates for Dobson’s Encyclopedia.
When he was appointed in to the Mint 1793, he was advanced
in years, and his talents were in decline. His earliest
attempt at silver coinage was the 1794 Flowing Hair dollar.
The New Hampshire Gazette of December 1794 described it
as having, “…a pleasing effect to a connoisseur;
but the touches of the graver is too delicate, and there
is a want of that boldness of execution which is necessary
to durability and currency.”
Evidently Mint Director Henry William DeSaussure
agreed. He arranged for the renowned portrait artist Gilbert
Stuart to remake the Liberty head. One of Stuart’s
portraits of Mrs. Ann Bingham resembles the Draped Bust
motif on the dollar. Apparently DeSaussure didn’t
trust Scot to prepare a die from Stuart’s drawing.
He hired John Eckstein, a Philadelphia artist who was paid
thirty dollars to prepare “two models for dollars.”
Researchers believe that it was Eckstein who redid the reverse
motif.
New silver dollars were struck in 1795.
The next year, Scot copied the designs on other silver and
copper coins, but he left his chubby capped Liberty on the
gold denominations. Later the same year, a large heraldic
eagle replaced the scrawny one on the reverse of silver
and gold coins. The heraldic device found on some 1795 half
eagles is known to have been made from a leftover die the
following year.
Because of his tenure and commission from George Washington,
Scot remained the Mint Engraver until his death on November
1, 1823, after 30 years in office. Since his work was somewhat
less than that done in Europe at the time, Scot was criticized
for its poor quality. He was responsible for designs of
most of America’s first coins. These include the Flowing
Hair and the Draped Bust motifs used on early silver coins
and the Capped Bust gold coins.
1793
Half Cent -
The first half cent was probably
designed by Henry Voigt. It was a one-year-only type.
The 1783 Libertas Americana medal was the model that
Voigt apparently used. The medal was engraved in Paris
in 1782 at the behest of Benjamin Franklin, who suggested
its motifs and mottoes. The French artist Esprit-Antoine
Gibelin made the sketches, and Augustin Dupré
did the engraving. The obverse shows Liberty facing
left with LIBERTAS AMERICANA above and the date 4
JUIL 1776 below a double horizontal line. Behind her
is a liberty cap on a pole. The reverse shows the
infant Hercules who symbolizes the United States,
in his cradle strangling two serpents. His nurse,
Minerva who represents France, shields the infant
from a lion, Great Britain.
The obverse of the half-cent is similar
to the medal. It shows a left facing Liberty in profile.
Above her head is the inscription LIBERTY with the
date 1793 below. Behind her head is a liberty cap
on a pole. There are no horizontal lines above the
date, and the pole is at s sharper angle so that its
end is above the truncation rather than below it.
Also on the half-cent, the cap lies on the pole in
a more natural way. Liberty’s hair is not as
wild on the coin compared to the medal, and it curls
toward and slightly below the date. The reverse shows
the denomination in two lines in a wreath of laurel
tied with a bow at the bottom. Within the ribbons
of the bow is the fraction one-two hundredths. The
whole is circumscribed by the legend UNITED STATES
OF AMERICA. The edge is lettered TWO HUNDRED FOR A
DOLLAR.
The pictured coin is eye-appealing
and glossy. It has clean, hard surfaces with no pitting,
spots or other distractions that can be seen without
magnification. The chocolate-brown and darker brown
colors attest to the coin’s originality. The
date, the denomination, and the fraction are sharp
for the grade. Some varieties are lightly defined
at HALF CENT, but that is not the case with the present
coin; all of its legends are bold. The hair above
Liberty’s forehead shows some detail, and the
balance of the hair is detailed and distinct. The
CAC sticker indicates that this piece is a premium
quality coin that fully merits the assigned grade.
In its population report, PCGS has certified 17 1793
half-cents at the VF35 level. At CAC, as of April
2013, only the present coin has been confirmed at
the VF35 level.
1796
Half Dime, Likerty - Designed
by Robert Scot, the Draped Bust, Small Eagle Reverse
half-dime shows a draped bust of Liberty in profile
with her hair tied with a ribbon. The word LIBERTY
is above and the date is below. In 1796 there were
15 stars on the obverse of the coin. The 1797 issue
had three varieties with 15, 16, and 13 stars. For
the first two years of the Draped Bust half-dime,
the Small Eagle reverse was used; it shows a skinny
eagle perched on a wreath that is tied with a bow
and surrounded by the legend UNITED STATES OF AMERICA.
The denomination does not appear on the coin, and
the edge is reeded.
The
pictured coin is a 1796 half-dime LIKERTY variety.
It has silvery-gray devices over somewhat darker fields,
especially on the reverse. The surfaces are original
and clean for the grade with virtually no visible
distracting abrasions worthy of individual mention.
Unlike many coins of this era, there are no adjustment
marks. Traces of original mint luster remain within
the devices. The B of LIBERTY has a die imperfection
that makes it somewhat resemble a K. The usual central
weakness is seen, especially on the reverse.
The
LIKERTY half-dime, identified with the berry below
the D in UNITED, is a lapped die state. A die is lapped
when the surface is ground or filed away to remove
clash marks or flow lines. In this state the top and
base of the B in LIBERTY gradually weakened leaving
a letter that looks like a K.
The
portrait is modeled on a drawing by the famous artist
Gilbert Stuart. Mrs. William Bingham was the model.
She was a Philadelphia socialite and one of the most
beautiful women of her time. Engraver Robert Scot
used Stuart’s portrait as the basis for his
engraving. John Eckstein was probably responsible
for the eagle motif of the reverse. The palm branches
on the right side of the wreath are a compliment to
Mint Director Henry William DeSaussure who was from
South Carolina; however, by the time the coins of
this design were made, he had resigned his position.
Nearly all varieties of this design in all denominations
have central weakness. The worst of these is probably
the half-dime.
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.
1796
Dime - Like the
half-dime of the same year, the 1796 dime was designed
by Robert Scot. It is a Draped Bust, Small Eagle type,
which shows a draped bust of Liberty with her hair
tied with a ribbon. The word LIBERTY is above and
the date is below. To the left of Liberty there are
8 six-pointed stars, and to the right there are 7.
The Small Eagle Reverse shows a skinny eagle perched
on a wreath that is tied with a bow and surrounded
by the legend UNITED STATES OF AMERICA. The left half
of the wreath is laurel, and the right half is palm.
There is no denomination indicated on the coin, and
the edge is reeded.
The
pictured coin, a toned first-year-of issue and first-year-of-denomination
has light tan devices over darker fields. The coin
was well struck with strong detail on the lines of
drapery and the eagle’s wings. Dentils are full
on the right side of the obverse and most of the reverse.
The surfaces are original and incredibly clean for
the grade with no notable abrasion marks or other
distractions. A prominent die break eclipses almost
half of Star 1. In general this is a very pleasant
early dime which would make a great addition to an
early date type set.
The
early Mint in Philadelphia had many challenges. 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 Mint’s 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.
1796
Quarter Dollar - Robert
Scot and John Eckstein designed the quarter. Like
the other coins in the set, the obverse was based
on a drawing of Ann Bingham by the famous American
portrait artist, Gilbert Stuart. It shows a right
facing, draped bust of Liberty in profile. A ribbon
ties the upper strands of her hair, while the rest
flows down her shoulders. There are eight six-pointed
stars to her left and seven to her right. The word
LIBERTY is above and the date is below. The Small
Eagle of the reverse was designed by Eckstein. It
shows a skinny eagle perched on clouds surrounded
by a wreath that is tied with a bow. Around the wreath
is the legend UNITED STATES OF AMERICA. The right
side of the wreath is palm, and the left side is laurel.
The palm is a compliment to Henry William DeSaussure,
who came from South Carolina. Unfortunately, by the
time the coin was issued, he had resigned his position
as Mint Director. No denomination is indicated, and
the edge is reeded.
Evidently
Gilbert Stuart was disappointed with Draped Bust motif
because his connection to it was suppressed. The blame
is partly on Engraver Robert Scot, a bank-note-plate
artist who had no knowledge about making a die or
a device punch. It is also on his assistant, John
Eckstein, who made “models” for the new
Draped Bust coin designs. Eckstein is also given credit
for designing the Small Eagle reverse with its cloud
shaped perch and oversized wreath.
With
fifteen stars on the obverse, one for each state in
the Union at the time, it is evident that no one thought
that there would be a sixteenth state. Tennessee was
admitted to the Union on June 1, 1796, yet many quarters,
and other denominations that used the same motif,
were struck after that date with fifteen stars.
Lovely,
original surfaces characterize the pictured, scarce
1796 quarter dollar. The surfaces are pristine for
the grade with no visible abrasion marks or other
distractions worthy of mention. The wear is even and
appropriate for the grade. Some drapery lines on the
bust show. The hair from the forehead past the ear
and down the neck is outlined and shows some detail,
as do the feathers on the eagle’s wings. Except
for the right reverse, the dentils are full and bold.
A couple of very light adjustment marks are noted
on the reverse, which is mentioned merely for the
sake of accuracy. The CAC sticker confirms that the
coin is a premium quality piece that fully deserves
the assigned grade.
The
B-2 variety is identified by the High 6 in the date.
The curl point of Liberty’s hair is under the
curve of the B in LIBERTY. The other variety for this
issue, B-1, has a Low 6, and Liberty’s curl
is under the center of the B. A single reverse die
was used with both obverses.
1799
Silver Dollar - The
pictured 1799 silver dollar is fully original and
clean, for the grade. It has light devices against
a darker background. The fields are predominantly
dark chocolate brown, while the devices are a soft,
light brown creating an almost cameo contrast. While
graded VF30, the coin shows drapery lines that are
more consistent with a higher grade. The CAC sticker
indicates that the piece is of premium quality and
fully merits the assigned grade.
The coin is the BB-164
variety, which is one of the 7X6 obverse star arrangements.
The letters of LIBERTY are close to each other. Star
8 is the closest star, and it is slightly closer to
the Y than Star 7 is to the L in LIBERTY. Star 1 is
farther from the hair curl than Star 13 is from the
bust. The numeral 1 of the date is recut to a straight
top. The reverse has five very large berries in the
olive branch. These are the largest on any 1799 dollar.
The point of Star 12 enters the eagle’s mouth,
and it looks as if the upper beak is closing on it.
A leaf points to the left side of the I in AMERICA.
The first A in AMERICA is close to the feathers but
does not touch them. The stem in the eagle’s
claw is very short. A raised die flaw resembling an
equal sign is under Star 2 at an angle. The far right
edge of the A in STATES is over the junction of Clouds
3 and 4.
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. It is believed that the portrait
of Liberty is taken from a drawing by Gilbert Stuart.
John Eckstein translated this drawing into models
for the dies. Evidently Eckstein made the models poorly,
which might explain why Stuart’s 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 eagle’s head under
the clouds. The edge is lettered, and dentils are
near the edge on both sides of the coin.
By placing the olive
branch and arrows in the wrong talons of the eagle,
Scot either committed a design blunder or chose or
was told to make a design to show America’s
aggressive militarism. 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.
1798
Quarter Eagle -
The first Capped Bust quarter eagle had no stars on
the obverse. Later in 1796, designer Robert Scot added
thirteen stars. The pictured coin, like the others
to 1807, has obverse stars. It is the BD-2 variety,
which is identified with date widely spaced with the
8 touching the drapery. Star 7 is far from the Y in
LIBERTY. The reverse has 5 berries on the olive branch.
The other variety for this date, BD-1, has a close
date and 4 berries on the olive branch.
Light and dark greenish gold surfaces
characterize this rare 1798 Wide Date quarter eagle.
The reverse also shows a touch of orange gold. The
presence of all of these colors indicates the coin’s
originality. The surfaces have light abrasions, in
keeping with the grade; however, none is so distracting
that it requires individual description. Traces of
original mint luster remain within the devices. Most
quarter eagles of the era have light striking in one
area or another. On this piece the strike is variable
with full details on the upper right stars, the back
of Liberty’s hair and drapery, and most of the
feathers of the eagle. The dentils are sharp on both
sides.
The Capped Bust motif was designed
by Robert Scot. The gold denominations of the time,
the quarter eagle, the half eagle, and the eagle have
the same obverse design. Liberty wears a large, soft
cap, which is perhaps emblematic of a Phrygian cap
because it certainly does not look like one. In one
of his letters, Thomas Jefferson explained that the
Phrygian cap was not an appropriate emblem for United
States coinage because it symbolized a freed slave,
which was not the case for citizens of this country.
Nonetheless, coin designers continued to use the cap
or a form of it to symbolize freedom.
The heraldic eagle of the reverse
is the first design for the quarter eagle but the
second for the half eagle and eagle, which saw a scrawny,
chicken-like eagle replaced by the heraldic one. Researchers
are not certain if Scot deliberately mixed up the
heraldry of the Great Seal of the United States or
if it was meant as a warning to Europe to be mindful
of the sovereignty of the United States.
1798
Half Eagle - The
pictured coin is identified as a 1798 half eagle and
a BD-4 variety. It has a Large 8 in the date which
touches the drapery and is also above the 9 at the
top. The 9 is shallowly punched and the 1 is heavily
punched. The same obverse die was used for BD-3 when
it was combined with a 14 Star reverse. The BD-4 reverse
has 13 Stars and rather prominent cuds from the rim
to the ES in STATES and the O in OF. The reverse also
shows an irregular cross pattern of stars above the
eagle. The left foot of the first A in AMERICA is
near, but not touching, Feather 4.
The coin shows traces of muted, original
mint luster in protected areas. The strike is variable
with full details on the upper shield and most of
the eagle’s wings. Dentils are present on both
sides and stronger on the reverse. The coin is a mixture
of yellow and orange-gold. These colors, along with
the remaining luster, attest to the coin’s originality.
For the grade, the surfaces are clean and free of
abrasion marks or other distractions worthy of individual
mention.
Designed by Robert Scot, the obverse
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 8 stars. Another 5 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. Liberty’s 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 Liberty’s 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 the same heraldic
eagle with the mixed up arrows and olive branch. It
is unlikely that Scot misread the Great Seal of the
United States, since he was an engraver of paper money
plates and knew the importance of the symbolism. More
than likely, the reversal was a warning to France
and other European powers to be mindful of the sovereignty
of the United States. After all, the young United
States was brash in that they had just defeated the
super power, England in gaining independence. They
no longer could tolerate France interfering with their
merchant shipping industry.
1799
Eagle -
Like the other coins in this set, the 1799 eagle was
designed by Robert Scot. The Capped Bust motif 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. 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.
Her cap is a contemporary fashion statement, hardly
a Phrygian or liberty cap. The liberty cap was worn
by freed slaves to symbolize their freedom and cover
their shorn heads, 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 Scot’s misinterpretation of the
Great Seal of the United States. It was most likely
an intentional reversal of heraldry, placing the arrows
in the eagle’s right talon and the olive branch
in the left as a warning to France and the other European
powers to be mindful of United States’ sovereignty.
This
particular piece is rare and in near-Mint State condition.
It has bright mint luster within its devices. The
strike is above average with full details on some
of the stars, Liberty’s hair, the upper shield,
the eagle’s neck and wings, and the clouds.
There is just a touch of wear on the highest points,
in keeping with the grade. The surfaces are original
with a small scratch upward from Star 3 and some small
scattered copper spots on the reverse. No adjustment
marks are present on the coin.
The BD-6 is identified ON the obverse with the numerals
17 of the date close to each other. Star 9 touches
the Y of LIBERTY, and Star 13 is far from the Liberty’s
bust. The reverse shows Star 12 away from the eagle’s
beak but pointing towards the opening. The first A
in AMERICA touches Feathers 3 and 4.
The
original mintage of the 1799 eagle was 37,449; however,
it is not known how many were of each type. The PCGS
population report is not particularly useful since
only 2 1799 BD-6 eagles have been certified, and the
higher of the two is an AU53. However, Dannreuther
and Bass give the BD-6 variety an R5 rarity rating.
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