The 1797 Capped Bust Eagle is one of the most important and rare U.S. coins for collectors. Produced just five years after the founding of the U.S. Mint, this coin has become a key part of American numismatics. It is recognized for its unique design, with two different reverse types: the Small Eagle and the Heraldic Eagle. Understanding this coin’s history, value, and design is essential for anyone interested in coin collecting.
History of the 1797 Capped Bust Eagle
The 1797 Capped Bust Eagle was the third $10 gold coin issued by the U.S. Mint. It featured two reverse designs: the Small Eagle and the Heraldic Eagle. The Small Eagle reverse was used in the early part of 1797, but it was soon replaced by the Heraldic Eagle later in the same year. Collectors often focus on the Small Eagle version due to its rarity.
| Design Type | Minting Date | Quantity | Main Features |
|---|---|---|---|
| Small Eagle | Early 1797 | Between 1,250 and 3,615 coins | Small eagle, 16 stars on the obverse, die crack under star 16 |
| Heraldic Eagle | Mid to Late 1797 | 10,940 coins | Larger eagle, different layout on the reverse |
Why is the 1797 Capped Bust Eagle So Important?
The 1797 Capped Bust Eagle is a highly significant coin for several reasons. It was one of the largest denominations of U.S. coinage at the time, equal to $10, which was a large amount of money in the late 18th century. These coins were mostly used for international trade, rather than everyday transactions. Additionally, the design is a significant piece of U.S. history, showing Liberty on the front and an eagle on the back.
The Small Eagle variety is particularly special because of its rarity. This coin is very sought after by collectors and can sell for large sums at auction, with prices reaching up to $360,000 or more for well-preserved specimens.
What Is the Value of the 1797 Capped Bust Eagle?
The 1797 Capped Bust Eagle, particularly the Small Eagle reverse, is highly valuable. Even coins in lower grades can command prices of $100,000 or more. Coins in better grades (MS62 or MS63) have reached auction prices in the hundreds of thousands of dollars. The rarity, age, and design contribute to its high value, and it is a favorite among collectors.
| Grade | Estimated Value | Notable Examples |
|---|---|---|
| MS63 | $290,000+ | The Belden Roach Collection (NGC MS63) |
| MS62 | $360,000+ | The Harry W. Bass Jr. Collection (PCGS MS62) |
| AU58 (Almost Uncirculated) | $130,000 – $200,000+ | Various AU58 examples sold in auctions |
Design of the 1797 Capped Bust Eagle
The design of the 1797 Capped Bust Eagle is one of its most defining features. The obverse shows Liberty’s bust, with her hair flowing and a cap placed on her head. The date and the word “LIBERTY” are displayed on the front. There are 16 stars surrounding Liberty, which represent the number of states at the time.
On the reverse, the coin features a small eagle holding a palm frond and a laurel wreath. The design includes the inscription “UNITED STATES OF AMERICA” around the eagle, and the coin’s edge is reeded for anti-counterfeiting purposes.
| Side | Design Features |
|---|---|
| Obverse | Liberty’s bust, 16 stars, the word “LIBERTY,” and the date |
| Reverse | Small eagle, palm frond, laurel wreath, “UNITED STATES OF AMERICA” |
The Market and Key Specimens
The 1797 Capped Bust Eagle is rare in all conditions, but some specimens have sold for extraordinary prices. Coins in top condition, such as those graded MS62 or MS63, can be worth hundreds of thousands of dollars. Auction houses often feature these rare coins, and they continue to attract collectors and investors.
| Specimen | Grade | Auction Price | Notable Auction |
|---|---|---|---|
| The Belden Roach Collection | NGC MS63 | $293,750 | Heritage Auctions, January 10, 2013 |
| The Harry W. Bass Jr. Collection | PCGS MS62 | $360,000+ | Heritage Auctions, August 10, 2023 |
| The Music City Collection | PCGS MS61 | $176,250 | Heritage Auctions, April 23, 2015 |
Conclusion
The 1797 Capped Bust Eagle is a coin of great historical and numismatic significance. With its rarity, unique design, and high market value, it remains a favorite among collectors. Whether you’re an experienced numismatist or just starting out, this coin is a fascinating part of American coinage that tells the story of the nation’s early years. The 1797 Capped Bust Eagle, especially the Small Eagle variety, continues to be highly sought after for its rarity and beautiful design, making it a valuable addition to any coin collection.
FAQ’s
What is the value of the 1797 Capped Bust Eagle coin?
The value of the 1797 Capped Bust Eagle, especially with the Small Eagle reverse, can range from $100,000 to over $360,000, depending on its condition and grade.
How can I identify the 1797 Capped Bust Eagle with the Small Eagle reverse?
Look for 16 stars on the obverse with a unique die crack below the 16th star. The Small Eagle design features an eagle holding a palm frond and laurel wreath on the reverse.
Why is the 1797 Capped Bust Eagle so valuable?
Its rarity, historical significance, and beautiful design make it highly valuable to collectors, with only a limited number of coins produced and in excellent condition.