The 1798 Capped Bust Right Small Eagle Half Eagle is considered the rarest of all the existing coins in history, relating to U.S. currency. With its historical interest and rarity, it’s definitely a treasured coin for all collectors.
Rarity of the 1798 Small Eagle Half Eagle
This is one of the rarest coins in the U.S. numismatics, and just seven examples were ever known. Two of the coins are available in the National Numismatic Collection at the Smithsonian Institution, not available to the private collector. No Mint State coin has been reported. It is rarer than that.
Historical context and minting
The Mint records indicate that 24,867 Capped Bust Right Half Eagle coins were produced in 1798. However, the number of coins that had the Small Eagle reverse is not well estimated, and this contributes to the coin’s rarity and fame among collectors.
Best Known Example
Recently, the finest known specimen of this coin was seen in the Bruce S. Sherman Collection and graded About Uncirculated 55 (AU-55) by the Professional Coin Grading Service (PCGS). It brought $3,000,000 at auction, establishing a new record for this type of coin.
Design Features
The obverse of this coin features a right-facing figure of Liberty wearing a cap. Contrasting with the later designs featuring a large and solid heraldic eagle, this coin has a small eagle on the reverse side.
This design was in use for a very short time, which makes it all the more attractive.
Auction Record
Before recently selling for $3,000,000, the previous auction record for this type of coin was $1.98 million. This confirms that the coin is increasing in value and its growing importance in the numismatic community.
Grading and Condition
Since the Mint State coin is nowhere to be known, the best-known coin is the one found in the Sherman Collection with the grade AU-55. Therefore, any example of this coin in excellent condition has a significant value and such coin is always considered a treasure by the coin collectors.
| Year | Design | Mintage | Known Examples | Highest Grade |
|---|---|---|---|---|
| 1798 | Small Eagle | Unknown | 7 | AU-55 |
| 1798 | Heraldic Eagle | 24,867 | Numerous | Varies |
| 1797 | Small Eagle | Unknown | Few | Varies |
| 1796 | Small Eagle | Unknown | Few | Varies |
The 1798 Capped Bust Right Small Eagle Half Eagle continues to be a valuable part of American numismatics, reminding us of the nation’s history and early coins and the appeal of rare collectibles that persists through time.
Conclusion:
The historical background of its design characteristics makes it more important, while the record at auction and high value further make it more important.
This coin’s rarity and history establish it not only as an important part of the evolution of American currency but as a historic and collectible treasure. Whether you are an experienced numismatist or a new collector, the 1798 Small Eagle Half Eagle coin will always be a fascinating and inspiring symbol.
FAQS:
Why is the 1798 Small Eagle Half Eagle so rare?
Because of its limited minting and only seven known examples, it is hard to find. Additionally, there are two coins in the Smithsonian that collectors cannot have.
What is the difference between Small Eagle and Heraldic Eagle designs?
The Small Eagle design features a simple and small eagle on the reverse, whereas the Heraldic Eagle design displays a larger and more detailed eagle, which represents a change in design tastes during that time.
Why are there no Mint State examples of this coin?
The coin’s age, and more so the fact that most coins were struck mean none of the aforementioned could survive as mint-state examples. So there are no Mint State coins for sale in today’s markets.