5,583 Gold Capped Bust Right eagles were struck in 1795 at Philadelphia Mint. These were the first gold coins issued by the mint. Experts believe that the same die was also used to strike coins in 1796, due to which a number of coins dated 1795 would be higher than the actual number of coins that were struck in that year. Out of the five die varieties, Heritage is going to offer the popular BD-3 variety at the Long Beach Signature Auction. This one features nine leaves in the palm frond on the reverse.
Only 18 to 22 examples of this variety exist, making it the rarest. Experts state that 210-500 examples have been accounted. The obverse die was used for producing the BD-2 variety and BD-5 variety as well. Most known examples have several defects which were caused due to die buckling. Since the reverse failed quickly, the BD-3 variety became rarer.
This variety was not officially listed when it was sold by W. Elliot Woodward in June of 1885. Edgar Adams revealed information about the BD-3 variety. The variety became popular after 1980. The offered coin is graded NGC-graded AU55 and last appeared at the Classics Sale, by American Numismatic Rarities (ANR) in 2003. The designs are well-detailed and minor wear can be seen on the high points along with generic small planchet flaws. The antique-gold surfaces have minor abrasions as per the grade. They also have original mint lustre.