1798 Eagle - Of all Early Gold Eagles, the 1798 eagle issue is generally considered to be the rarest date of the series, after the coveted 1804 issue. All examples were struck using the same reverse die which was, before and afterwards, used to strike 1797 dated ten dollar gold pieces. Two different obverse dies were used, which were apparently soon considered to be unfit for coinage, given the rarity of this date and the two varieties. Both obverses, displaying thirteen stars in different configurations, were overdated from unused 1797 obverse dies with the underdigit clearly visible.

The first variety, BD-1, which has approximately 90 pieces known in all grades (R-4+) has the stars configured nine left, four right. In older references, including Hilt and Breen, the mintage was considered to be 900 pieces, which was the full February 17, 1798 delivery of ten dollar gold pieces. In their recently published reference Early U.S. Gold Coin Varieties, Bass-Dannreuther estimate the mintage to be between 1,200 and 1,600 coins. The second variety, BD-2 is much rarer, with an estimated 25 pieces known in all grades (R-6-). On this variety, the stars are configured seven left, six right. Its mintage was estimated by Dannreuther to be between 300 and 842 pieces, while earlier references usually cited the latter number as correct, which was the final delivery of the year on February 28. No new eagles would be delivered until May 14, 1799.

The mintage of 1,742 pieces, consisting of the final deliveries made in February, appears to be incorrect. Research of the states of reverse dies used for coinage has confirmed that two varieties of 1797 dated eagles were struck after the majority, and probably all 1798/7 eagles had been struck. Given the fact that there were no further deliveries after February, the 1798/7 eagles appear to have been part of, or even being the full January deliveries. Both obverse dies are found in terminal, or close to terminal states, and the BD-2 variety is much rarer than BD-1. This leads to the conclusion that the regular accepted mintages are more than likely incorrect.

This date is usually represented in date sets with a single coin, due to the rarity of the BD-2 variety. That variety is the second rarest early eagle after the famous 1795 with nine leaves on the reverse. As a date, it remains to be very rare, and is seldom offered at public auction. When it does, it usually is graded AU, unless when damaged which is also commonly encountered with coins of this date. Most remaining pieces show weakness in the centers, a further testimonial to the quality control at the early United States Mint.

While pieces have any grade are already considered to be prime numismatic rarities, uncirculated specimens are even less often encountered. Most, if not all uncirculated examples that remain to exist are graded between MS-60 and MS-62, and while uncirculated are not always even attractive. This is a problem that is seen with many of the early issues of the United States Mint, which were often exported to foreign countries and melted. In the process, those that did escape the melting process acquired many bagmarks from handling, and the large gold coins were especially vulnerable to this. In any grade, this remains to be an extremely popular issue that is usually not available for a small price. However, when included in a collection of early United States (gold) coinage, it is destined to become one of the true masterpieces.