$132,000 small eagle flying high at Heritage's FUN rare coin auction
Heritage's FUN auctions are always greatly anticipated by coin collectors and investors, and the most recent was no exception.

The 1797 BD-3 $5 Small Eagle was, as expected, the star of the show. It had been rated at AU53 by the NGC.

The patriotic coin, which was produced at a time when the nation was still in its infancy after gaining independence in 1776, depicts an eagle holding a wreath on one side, with Liberty portrayed as a woman on the reverse.

1797 Liberty coin

The obverse is perfect, apparently as always, while the reverse has a die crack from the tail feathers to the right (facing) wing, and another from the border at 6 o'clock to the leaves and inside of the right (facing) leg. No other die cracks or defects are known.

Expert John Dannreuther suggests a surviving population in the range of 20 to 25 coins. Four die varieties are known among the 1797 Small Eagle coins, and BD-3 is the most plentiful of the four, with a combined survival of no more than 50 pieces.

Examples hold pride of place in great collections. The Smithsonian Institution has two pieces, and the Norweb Collection had a pleasing XF coin.

This one had been a part of the collection of Abner Kreisberg and Jerry Cohen until 1973, and was given a guide value price of $75,000, but keen bidders pressed further, only stopping at $132,250 when it was sold to a phone bidder.

Watch this space for more news of this exciting auction.

 

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