1797 $10 Large Eagle AU58 认证号28695037, PCGS号8559

Charles Morgan

1797 Capped Bust Right Eagle: The Transition to the Heraldic Eagle

Following a limited production 1797 Draped Bust Eagles of the Small Eagle reverse (#8555), the United States Mint transitioned to a new, more robust reverse design for the majority of the 1797-dated coinage. This second style, the Heraldic Eagle, utilized hubs executed by John Smith Gardner. Introduced in 1796 and continuing through 1807, this design provided American silver and gold coinage with a more unified and regal appearance, featuring a larger, more powerful eagle than its predecessor.

While Mint records make precise accounting difficult, it is estimated that the 1797 Heraldic Eagle type (#8559) outnumbers the Small Eagle by a factor of 3:1. In his recent research, numismatist John W. Dannreuther suggests a Heraldic Eagle mintage between 8,750 and 12,500 pieces, noting that some 1796-dated coins were struck in 1797, while some 1797-dated coins were likely struck in 1798—a common practice for the Mint at a time when servicable dies were dear.

Three distinct die marriages comprise the 1797 Heraldic Eagle series, identified as Bass-Dannreuther (BD) varieties 2 through 4.

Identifying the Three Reverse Dies

The primary diagnostics for identifying these varieties reside in the eagle’s anatomy and star placement:

• BD-2 (#45717): Characterized by a long, thin neck and a staggered left column of stars in the glory. The fifth star is centered directly above the eagle’s beak.
• BD-3 (#45718): Features a short, thick neck.
• BD-4 (#45719): Features a long, thick neck. On this variety, the fifth star in the glory is positioned just above the tip of the eagle’s beak.

Variety Analysis

1797 BD-2 (Rarity-4+)

This represents the inaugural die marriage used for the Heraldic Eagle reverse. While the obverse die was fashioned from the original 1795 hub, the reverse utilized Gardner’s new design. Dannreuther estimates 90 to 110 survivors from an original mintage of 3,500 to 5,000. In the typical die state b/b, thin cracks are visible below the final "7" of the date, and a distinct rust lump appears on the second "T" of STATES.

1797 BD-3 / Taraszka-11 (Rarity-5)

Traditionally listed as the second Heraldic Eagle reverse, researcher Anthony Taraszka postulates that production of the BD-3 actually occurred after the 1798/7 issues. Though both 1798/7 marriages share this reverse die, all known 1797 BD-3 coins exhibit a significantly later die state. With an estimated mintage of 1,500 to 2,500 and fewer than 50 known examples, this is the scarcest die marriage of the date.

1797 BD-4 (Rarity-4+)

Though rare, the BD-4 is the most frequently encountered 1797 variety in Mint State. Survival estimates range from 90 to 110 pieces out of a mintage of 3,500 to 5,000. This variety is often identified by an obverse die crack that eventually progresses into a cud through the "7" in the date. This variety can be found to be struck with perfect or cracked reverse dies.

PCGS will certify these important Draped Bust Eagle varieties through our Variety Attribution Program.

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PCGS will certify this collectible Jefferson Nickel variety through our Variety Attribution Program.