1799 Large Reverse Stars $5.00 NGC MS61

Large Reverse Stars. BD-8, Rarity-6. Dannreuther estimates that just 22 to 30 are known. Extremely late die state with extensive reverse cracks that are more developed than those described by Bass. This is both an interesting and very rare early half eagle. The obverse is a light green-gold and shows some roughness in the planchet as made; the reverse is more vibrant and yellow-gold in hue. As mentioned, the obverse fields have some roughness (reminiscent of a 1796 eagle) in the planchet and there is a shallow void as made on the face; the reverse is superb and would grade MS63 or better on its own. The 1799 Large Stars is a rare coin in all grades with probably fewer than 75-85 known. In higher grades, it is very rare and it is a solid R-7 in Uncirculated. Only three auction records exist for MS61's since 1979 and all are NGC coins; the latest is Heritage 9/08: 3577 at a strong $40,250. If you are a serious collector of early U.S. gold, you are aware of the significance of this offering.

1799 Small Reverse Stars $5.00 PCGS MS62 CAC

Small Reverse Stars. BD-2, High Rarity-5. Dannreuther estimates that only 35-435 examples are known of this variety; Bass owned just one which was not as nice as this example. There were a good number of early half eagles available at the ANA show but this was one of my very favorites; at least from the standpoint of its 18th century issuance. This coin is as fresh as you can imagine with vibrant frosty luster and lovely natural yellow-gold color. It is extremely well struck for both the date and variety with great eye appeal. The surfaces show just a few light marks and, interestingly, the obverse is actually choicer than the reverse with the look of an MS63. As a date, the 1799 is scarcer than the 1798 and it is actually less available (albeit less popular) than the higher-priced 1795. The last PCGS MS62 1799 Small Stars half eagle to appear at auction was B+M 11/09: 3667 which sold for $43,700. In my opinion, this example is choicer and much more "crisp" in appearance. Here's an interesting point to consider. A nice PCGS MS62 1795 Small Eagle half eagle is worth around $100,000 in today's market. PCGS has graded twenty two examples in this grade with fifteen better. A 1799 Small Stars has a population of eleven in this grade with ten better but it is priced at less than half the amount of the 1795. Clearly the 1795 should be worth more but twice as much? A great early half eagle.