1799 $10 Draped Bust Eagle, Large Stars Obverse NGC AU55

Here is a spectacular remnant from the early days of our nation and the first Philadelphia Mint. Take a look at the photos of this beauty, with its iconic folk-art-inspired design and original greenish-gold coloration. This is an important piece of both American and numismatic history. Imagine holding it in your hand and calling it your own.  NGC has graded 6 pieces as AU55 with 38 finer.

Collectors Universe lists the price of this issue in AU55 as $27,500.00. PCGS tells us that there are only 300-400 survivors today from its original mintage of 37,449. That is because Alexander Hamilton miscalculated when he determined the silver to gold ratio to be 15:1; gold was undervalued from 1794 to 1834 and the vast majority of gold coins were shipped to Europe to be sold for their bullion value. Most of the survivors, including the current offering from AUCM, were housed in the First Bank of the United States.

Numismatic art critic Cornelius Vermeule writes of this historic obverse design: "The industrious Robert Scot ... created the bust of Liberty that dominated the gold coinage .... His source could well have been an idealized, somewhat backward portrait of Martha Washington arrayed for an evening reception ....”  Vermeule continues his analysis of this coin, pointing to criticism of Scot's work: "Criticism comes easy, however, and it must not be overlooked that Robert Scot's first gold coinage has a positive character of its own, a healthy individuality and almost rustic charm that conveys the message of a young nation seeking its identity as well as any monumental manifestation of the early arts in America."