When it comes to rare and historical coins, the 1799 $10 Draped Bust Small Stars Obverse is a prized possession for collectors. This coin is not just a representation of early American currency but also serves as a fascinating artifact from a crucial period in United States history. Graded as PCGS AU58, this particular coin offers both exceptional quality and a rich historical background, making it an attractive addition to any numismatic collection. Let’s dive into the features, history, and value of this exceptional coin.
Historical Background of the Draped Bust $10 Coin
The $10 Draped Bust gold eagle was first struck by the United States Mint in 1795 and continued to be produced until 1804. This series of coins marked the beginning of large gold coin production in America. These coins were made from 91.67% gold and 8.33% copper, making them a significant part of the early U.S. currency system. They were designed by the Mint’s chief engraver, Robert Scot, and featured a distinctive image of Liberty on the obverse (front) side and an eagle on the reverse (back) side.
Key Details
| Feature | Description |
|---|---|
| First Minted | 1795 |
| Last Minted | 1804 |
| Composition | 91.67% Gold, 8.33% Copper |
| Designer | Robert Scot |
| Obverse Design | Liberty |
| Reverse Design | Eagle |
The 1799 issue is one of the most sought-after dates in the Draped Bust series. It was minted at a time when the United States was a fledgling nation, and each of these coins played a crucial role in establishing trust and value in the young country’s monetary system. These coins were primarily used for international trade due to their gold content, giving them further historical significance.
Design Details of the 1799 Draped Bust Gold Eagle
The obverse of the 1799 $10 Draped Bust coin features a portrait of Liberty facing right, adorned with flowing hair and draped clothing. Above Liberty’s head are thirteen stars, representing the original thirteen colonies. The stars are the key difference in this variety of the coin, known as the “Small Stars Obverse.” The stars are relatively smaller compared to the “Large Stars” variety, adding an element of uniqueness for collectors.
Obverse Features
| Feature | Description |
|---|---|
| Liberty Portrait | Facing right, with flowing hair |
| Stars Above Liberty | Thirteen small stars |
| Style | Small Stars Obverse |
The reverse of the coin depicts a majestic eagle holding a wreath in its beak and arrows in its talons. Surrounding the eagle is a shield, symbolizing strength and unity, while the phrase “UNITED STATES OF AMERICA” is inscribed around the perimeter. This classic and elegant design is a hallmark of early American coinage, embodying the nation’s values and aspirations at the time.
Reverse Features
| Feature | Description |
|---|---|
| Eagle Design | Holding a wreath and arrows |
| Inscription | “UNITED STATES OF AMERICA” |
| Symbolism | Strength and unity |
Rarity and Condition: PCGS AU58
One of the reasons the 1799 $10 Draped Bust Small Stars Obverse is so coveted is its rarity. Only a limited number of these coins were produced, and even fewer have survived in good condition. The condition of a coin is a critical factor in determining its value, and the Professional Coin Grading Service (PCGS) has given this specific coin a grade of AU58, or “Almost Uncirculated.” This means the coin shows minimal wear on the high points of the design and retains much of its original mint luster.
Grading Overview
| Grade | Description |
|---|---|
| AU58 | Almost Uncirculated; minimal wear, high luster |
| Features | Sharp details, clear design, excellent shape |
Coins graded AU58 are highly desirable because they offer near-mint quality while still being affordable compared to higher-grade specimens. For collectors looking for a balance between condition and value, AU58 represents a sweet spot. The coin is in excellent shape for its age, with sharp details and a clear design, making it a standout piece in any collection.
Market Value and Investment Potential
The 1799 $10 Draped Bust Small Stars Obverse is a rare coin with significant historical value, making it a solid investment for numismatists. As of recent auctions, coins in this grade (AU58) have sold for upwards of $100,000, depending on the specific market conditions and demand at the time of sale. The rarity of this coin and its historical importance make it a stable investment that is likely to appreciate over time.
Recent Auction Prices
| Condition | Recent Auction Price |
|---|---|
| AU58 | Upwards of $100,000 |
The gold content alone makes this coin valuable, but its numismatic value far exceeds the price of gold. For collectors and investors alike, owning a 1799 $10 Draped Bust coin offers both the pleasure of possessing a beautiful piece of American history and the potential for long-term financial gain.
The Appeal to Collectors
For collectors, the 1799 $10 Draped Bust Small Stars Obverse is more than just a rare coin; it’s a piece of history that reflects the artistry and craftsmanship of the early U.S. Mint. The coin’s aesthetic appeal, combined with its rarity, makes it a must-have for serious numismatists. The Small Stars variety, in particular, adds an additional layer of interest, as collectors often seek out such varieties to complete their sets.
Collectors’ Insights
| Aspect | Importance |
|---|---|
| Historical Significance | Reflects early American commerce |
| Artistic Appeal | Craftsmanship of the U.S. Mint |
| Variety | Small Stars adds uniqueness |
The historical significance of this coin cannot be understated. It was minted during a time when the United States was solidifying its place in the global economy. As a $10 gold coin, it was used for significant transactions, both domestically and internationally. Each time a collector holds this coin, they connect with the early days of American commerce and the foundational years of the U.S. Mint.
Caring for and Preserving the 1799 Draped Bust Coin
Owning a 1799 $10 Draped Bust coin is a privilege, but it also comes with responsibility. To preserve the coin’s value, proper care must be taken. Coins of this age and rarity should always be stored in a temperature-controlled environment, away from humidity and direct sunlight. Most collectors keep their valuable coins in protective holders, such as those provided by PCGS, to prevent further wear or damage.
Care Guidelines
| Care Tip | Description |
|---|---|
| Storage | Temperature-controlled environment |
| Handling | Use gloves to prevent oils and dirt |
| Protection | Use protective holders |
It’s also recommended to avoid handling the coin directly with bare hands, as oils and dirt can degrade its condition over time. Use gloves when handling and ensure that it’s placed in a soft, clean environment during viewing or photography.
Conclusion
The 1799 $10 Draped Bust Small Stars Obverse PCGS AU58 is a magnificent example of early American coinage. Its combination of historical significance, rarity, and beautiful design make it a highly coveted piece for collectors. With a grade of AU58, this coin is in near-perfect condition, offering both aesthetic pleasure and significant investment potential.
Whether you are a seasoned numismatist or a new collector looking to add a remarkable coin to your collection, the 1799 Draped Bust Small Stars Obverse is a piece that will stand out. As time goes on, coins like this will only become harder to find, and their value is expected to increase, making them a wise choice for any collector with an eye for history and investment.
FAQs
What makes the 1799 $10 Draped Bust Small Stars Obverse coin so valuable?
The 1799 $10 Draped Bust Small Stars Obverse coin is highly valuable due to its rarity, historical significance, and exceptional craftsmanship.
How can I determine if my 1799 $10 Draped Bust coin is the Small Stars Obverse variety?
To identify the Small Stars Obverse variety, check the stars above Liberty’s head on the obverse (front) side of the coin.
What is the investment potential of the 1799 $10 Draped Bust Small Stars Obverse coin?
The 1799 $10 Draped Bust Small Stars Obverse coin has significant investment potential due to its rarity, historical importance, and enduring appeal among collectors.
How should I care for and store a rare coin like the 1799 Draped Bust?
To preserve the value and condition of a rare coin like the 1799 Draped Bust, store it in a temperature-controlled environment, away from direct sunlight and humidity.