BG-786 is a re-use of the Indian Head obverse die of BG-785 combined with the reverse of BG-779. All three of these BG numbers have been attributed to Herman Brand as the maker.
BG-786 is listed as "Low Rarity 6" in the Breen-Gillio reference, suggesting a surviving population of "about 25 to 30 known." However, because PCGS alone has certified 34 pieces (as of September 2014), it is more likely that the range of survivors is in the 50-75 range, making it a Rarity 5 or thereabouts. Either way, this is a popular variety because of the Native American head on the obverse.
Most examples of the BG-786 grade out from MS63 to MS64. Gems are very rare, with only one PCGS MS65 at the top of the Condition Census.
Jay Roe Collection - Bowers & Merena 9/2003:232, $546
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