The 1797 Capped Bust Eagle with the Small Eagle reverse is a significant and highly sought-after piece in the realm of early American coinage. As part of the $10 gold coin series introduced in 1795, this coin reflects the craftsmanship and ambitions of the young U.S. Mint. With its historical importance, limited mintage, and striking design, the 1797 Capped Bust Eagle, Small Eagle is a prized possession for serious numismatists.
This guide explores the history, design, rarity, and collector’s value of this iconic gold coin, helping enthusiasts understand its allure.
Historical Background
The Capped Bust Eagle series, introduced in 1795, was the first $10 gold coin minted in the United States. Designed by Robert Scot, the Chief Engraver of the U.S. Mint, it was produced during a time of limited technological capabilities and low mintage figures.
The 1797 version is notable for its Small Eagle reverse, featuring a petite eagle surrounded by a wreath. This reverse design was soon replaced by the more robust Heraldic Eagle design in 1797, making the Small Eagle variety both historically significant and rare.
At the time, $10 was a considerable amount of money, and these coins primarily circulated among wealthy merchants and foreign trade. Due to their high face value, many coins were melted down for their gold content, adding to their scarcity today.
Design Features
The 1797 Capped Bust Eagle is celebrated for its elegant design and simplicity:
- Obverse: The obverse depicts Liberty wearing a soft cap, with flowing hair cascading down her neck. The word “LIBERTY” is inscribed above her head, surrounded by 13 stars representing the original colonies. The date, “1797,” is positioned at the bottom.
- Reverse: The Small Eagle reverse features a delicate, upright eagle with outstretched wings surrounded by a wreath. The inscription “UNITED STATES OF AMERICA” encircles the design.
This Small Eagle design was eventually retired in favor of the Heraldic Eagle in 1797 due to its perceived fragility and unpopularity with the public.
Rarity and Mintage
The total mintage for the 1797 Capped Bust Eagle is estimated at fewer than 11,000 coins, and a significant portion of these featured the Heraldic Eagle reverse. As a result, the Small Eagle reverse variant is particularly rare, with only a fraction surviving in collectible condition today.
In terms of rarity, the 1797 Capped Bust Eagle, Small Eagle is a standout within the series. High-grade examples are exceedingly scarce, making them prized assets in auctions and private collections.
Value and Collectibility
The value of the 1797 Capped Bust Eagle, Small Eagle varies widely depending on its condition and provenance:
- Lower Grades (XF40): $100,000–$150,000
- Mid-Grades (AU55): $250,000–$400,000
- High Grades (MS63 and higher): Over $600,000
Coins with strong eye appeal and original surfaces command a premium, as do those with exceptional grading by PCGS or NGC.
Tips for Collectors
- Authenticate the Coin: Ensure the coin is certified by a reputable grading service like PCGS or NGC to verify authenticity and condition.
- Study Provenance: Coins with documented histories or prior ownership in renowned collections often hold additional value.
- Beware of Counterfeits: Early U.S. gold coins are heavily counterfeited, so exercise caution when purchasing from unknown sources.
Conclusion
This coin is a true gem for collectors of early American coinage. It represents a transitional period in U.S. Mint history, features an iconic design, and boasts extreme rarity due to its Small Eagle reverse. Its value is likely to grow over time, making it not only a beautiful addition to a collection but also a sound investment.
FAQs
1. How rare is the 1797 Capped Bust Eagle, Small Eagle?
The 1797 Capped Bust Eagle with the Small Eagle reverse is incredibly rare, with an estimated mintage of fewer than 11,000 coins. Fewer still feature the Small Eagle reverse, making it a highly sought-after collectible.
2. What is the value of a 1797 Capped Bust Eagle, Small Eagle coin?
The value of a 1797 Capped Bust Eagle, Small Eagle can range from $100,000 in lower grades to over $600,000 in higher-grade examples, with exceptional pieces fetching even more at auctions.
3. What are some tips for collecting the 1797 Capped Bust Eagle, Small Eagle?
When collecting this rare coin, it’s important to authenticate it through reputable grading services like PCGS or NGC, study its provenance, and be cautious of counterfeits, as early U.S. gold coins are often targeted by counterfeiters.