A few days ago, I showed photos from a brochure called the "Celebrating 100 Years of ANA's National Coin Week".
I would like to feature in this article another U.S. Gold Coin.
1799 $10 Turban Head Gold Eagle
Heraldic Eagle - Capped Bust Facing Right
Mintage: N/A Minted at: Philadelphia (No Mint Mark)
Three gold denominations—the quarter eagle, half eagle, and eagle—carrying values of two dollars and fifty cents, five dollars, and ten dollars, respectively, were introduced by the Coinage Act of 1792. In 1795, the half eagle was the first coin struck in gold. The quarter eagle in 1796 and the eagle later that year came next. The eagle was mainly meant for foreign trade rather than domestic commerce because of its high worth.
The bust of Liberty, facing right, is shown on the obverse of the Capped Bust Eagle. Just above her neck's truncation, part of her drapery is exposed. Liberty has a lock of hair that wraps upwards around her Phrygian cap, giving her a turban-like appearance. The date is below, the word LIBERTY is above, and there are differing numbers of stars on either side. There are fifteen obverse stars on the coins from 1795 and a few from 1796. A sixteenth star was added after Tennessee was admitted to the Union in the middle of 1796. Thirteen stars were the final count in 1798 and would stay that way until the series' conclusion.
From 1795 to 1797, the first reverse design—also referred to as the "small eagle" subtype—was in use. An eagle with its wings spread and an olive wreath in its beak is depicted in the design. The palm branch on which the eagle is perched typically has thirteen leaves, however there is a documented reverse die with nine leaves. The image is surrounded by the words UNITED STATES OF AMERICA, and the space beneath the eagle is left empty. The denomination is not stated, just like with other early American gold coins.
The reverse of the coin I am featuring has the Great Seal of the United States as the inspiration for the second reverse, also referred to as the "heraldic eagle" subtype. An eagle with a shield over its breast is shown in a fairly strange pose. Between the eagle's head and the group of clouds overhead, thirteen stars can be seen. A bundle of arrows and an olive branch are separately held in the eagle's talons. Once more, the words UNITED STATES OF AMERICA are displayed without specifying the denomination. This reverse design debuted in 1797 and was in use until the series' end in 1804. Robert Scot designed both the common obverse and both reverses.
Due to insufficient gold reserves and the general predilection for half eagles, the Capped Bust Eagle had low mintages during the first subtype's manufacture. Up to the manufacture of gold eagles and silver dollars being stopped by President Thomas Jefferson in 1804, the second subtype often saw higher mintages. During this period, the Napoleonic Wars had increased the value of gold globally and a significant amount of gold coins were being melted. It would take until 1838 for the gold eagle denomination to be produced again after Congress changed the bimetallic ratio of gold to silver in American coins.
Reference
https://www.apmex.com/product/204152/1799-10-turban-head-gold-eagle-ms-61-pcgs-large-stars-obv
https://www.usacoinbook.com/coins/4065/gold-10-eagle/turban-head/1799-P/large-stars-obverse/
https://cappedbusteagle.com/
https://en.wikipedia.org/wiki/Napoleonic_Wars
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The Face Value of our Original $10 Gold Coins, need to be replaced with $50 Face Values, which should (in my opinion) contain 1/2 ounce of Gold... This is the 5 X "Face Value" increase I think needs to take place for the Reset...
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Interesting that the Palm branch has nine leaves instead of the typical 13 leaves @silversaver888…..
A beautiful gold coin, you don’t see too many of these!😊
This is a photo of the one with nine leaves. The variation is identified by its "9 Leaves" reverse, which has nine leaves on the palm branch on the reverse as opposed to the other variety's thirteen leaves, which are both struck in 1795. The collector William H. Woodin, best known for serving as Treasury Secretary during the 1933 gold recall, made the discovery of the 9 Leaves variation. For one hundred dollars in 1926, he bought his example from Waldo Newcomer.
John Dannreuther, the most informed expert on early U.S. gold coins calculates that between 210 and 500 coins minted overall using this die marriage. And of those few survivors, the one top is regarded as the best known specimen. It is also the only 1795 eagle that has been certified by CAC. It features a crisp, attractive strike and copious amounts of mint frost on the obverse.
Even in 1926 $100 was a lot of money, but a very good investment @silversaver888!👍
He was a very wise man to pick this up for his collection!😇
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Veery cool to have a gold coin that old! If only it could talk! Thanks for sharing sis; much love to you!🤗💜😍😘🌹 !LADY !LUV !PIMP
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I bet all old coins have a story to tell!
I am sorry for being so late in responding.
xoxo
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Those big bold letters LIBERTY really mean a lot more when they're on a large GOLD coin. When holding a tiny copper dime, those letters just don't seem to have the same meaning.
Hehehe! The bigger and bolder, the better!
I remember the first time I bought a gold coin. It was a 2016 Panda. But I couldn't afford a bigger one, so I bought a tenth of an ounce. In fact, the first year, it was all 1/10 oz gold!
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I can imagine the huge gold demand with Europe being embroiled in the Napoleonic War, and we have a pretty good ideal who ended up with most of that European gold.
Always, with love 🤗🌺❤️
They began backing the British pound with gold as early as 1717. But the British parliament enacted a law only in 1819 compelling the Bank of England to convert all of its banknotes into gold following the Napoleonic Wars, which caused financial instability. The Bank established the "Issue Department" in 1844 according to the Bank Charter Act, and it was their exclusive duty to ensure that every British note was backed by gold.
In 1702, the Coinage Act of the United States established a ratio of 15 to 1 between gold and silver at the US Mint. A few countries were attracted to the system because of inflation.
It's funny...
It will be a welcomed day when the GSR gets back to 15 to 1 Sis.
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Wow very nice , and still a 1700s coin even though it's in the last year !BBH !LOL !ALIVE
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Yet another beautiful coin that has remained on my wish list.... It's such a cool coin!
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Forever on both our wish list!
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All these gold coins designs are very rare and beautiful one day I will definitely buy them.
Beautiful, huh!
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Yeah.
nice stuff
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