The 1795 Capped Bust Right Half Eagle is a cornerstone of early U.S. coinage and a prized piece for collectors of American history. As one of the first gold coins struck by the United States Mint, it represents the young nation’s commitment to establishing its own monetary system. This coin, with its elegant design and historical significance, holds a special place in numismatics.
Historical Background
The Coinage Act of 1792 authorized the production of U.S. gold coinage, and the Half Eagle ($5) was among the first gold denominations minted. The 1795 Capped Bust Right Half Eagle was struck at the Philadelphia Mint, the only operational U.S. Mint at the time. Production of the coin began in July 1795, shortly after the Mint acquired sufficient gold bullion.
Designed by Robert Scot, the 1795 Capped Bust Right Half Eagle marked a significant milestone in U.S. coinage history. It was the first U.S. gold coin to feature an eagle, symbolizing the nation’s strength and independence. Approximately 8,707 coins were minted in 1795, though fewer survive today due to circulation and melting, making it a rare and sought-after piece.
Design and Specifications
The 1795 Capped Bust Right Half Eagle features a design that reflects the neoclassical style popular in the late 18th century.
- Obverse: The obverse displays a portrait of Liberty facing right, adorned with a turban-like cap. Her flowing hair cascades over her shoulder, emphasizing the ideals of freedom and grace. Surrounding her portrait are the inscription “LIBERTY” and 13 stars, representing the original colonies. The date “1795” is positioned below Liberty’s bust.
- Reverse: The reverse depicts a small eagle perched on a branch, holding a wreath in its beak. The inscription “UNITED STATES OF AMERICA” encircles the design. This reverse is known as the “Small Eagle” design, which was later replaced by the heraldic eagle in subsequent issues.
The coin was struck in .9167 fine gold, alloyed with copper and silver for durability. It weighs 8.75 grams and has a diameter of 25 millimeters. Its reeded edge adds to its intricate detailing.
Rarity and Value
The 1795 Capped Bust Right Half Eagle is exceedingly rare and highly valued. Due to the coin’s age, gold content, and limited mintage, surviving examples are considered treasures of American coinage. Many were melted down or heavily worn in circulation, further reducing the number of specimens available today.
Prices for the 1795 Half Eagle vary depending on condition. Coins in lower grades, such as VG (Very Good), can sell for $40,000 to $60,000. Higher-grade examples, such as AU (About Uncirculated) or Mint State specimens, often fetch six-figure prices at auctions. Exceptional examples, particularly those with strong details and luster, can command upwards of $500,000.
Collecting Tips
When collecting the 1795 Capped Bust Right Half Eagle, authenticity and condition are crucial. Counterfeits and altered coins exist due to the high value of this piece. To avoid these risks, buy from reputable dealers or seek coins certified by PCGS or NGC. Certified coins offer assurance of authenticity and condition grading.
Collectors should also familiarize themselves with the two primary varieties of the 1795 Half Eagle: the Small Eagle Reverse and a rarer die pairing known as the 15 Stars Obverse, which features an additional star due to an engraving error.
Conclusion
The 1795 Capped Bust Right Half Eagle is more than a coin; it’s a piece of American history. Its role as one of the first U.S. gold coins, combined with its beautiful design and rarity, makes it a dream acquisition for numismatists. Whether you’re an experienced collector or an admirer of historical coins, the 1795 Half Eagle embodies the artistry and ambition of a young nation striving to define its identity.
FAQs
1. What is the value of a 1795 Capped Bust Right Half Eagle?
The value of a 1795 Capped Bust Right Half Eagle varies depending on its condition. In lower grades like VG, it can range from $40,000 to $60,000, while higher-grade examples or those in mint state can fetch over $500,000.
2. How can I tell if my 1795 Capped Bust Half Eagle is authentic?
To ensure authenticity, buy from reputable dealers or have the coin certified by a respected grading service like PCGS or NGC. Certification guarantees the coin’s authenticity and provides a condition grade.
3. What are the key varieties of the 1795 Capped Bust Half Eagle?
The 1795 Capped Bust Right Half Eagle primarily comes in two varieties: the Small Eagle Reverse and the 15 Stars Obverse with an engraving error. The 15 Stars variety is particularly rare and highly sought after by collectors.