Errors & Varieties: The Tyrant Collection: Eagles

The mission of The Tyrant Collection is to obtain a coin with the name and likeness of every tyrant who ever ruled. This includes a coin from every major territory or country of each major civilization. A feat that has been meticulously accomplished for the tyrants of the Thames, Tigris and Eurphrates, Tyrrhenian and Adriatic Seas, Tiber, Seine, and Nile civilizations. United States coinage has generally not been struck with the name and likeness of presidents while they were in office. This collector opted to obtain one of every circulation strike (branch mints included) and nearly every proof of the earliest, largest, and most valuable U.S.-struck denomination, the $10 gold coin known as the eagle, which was struck from 1795 to 1933 and consists of over 300 issues in total.

Collecting early U.S. gold coin by die variety is one of the greatest challenges in all of American numismatics. Many U.S. gold coins dated from 1795 to 1834 (also referred to as "old tenor gold") were exported or melted for bullion as their gold content was undervalued on the world markets. The Tyrant Collection's United States set includes all 33 BD (Bass-Dannreuther) and T (Taraszka) varieties of 1795 to 1804. This set also includes later dates such as the ultra-rare 1838, 1839, and 1857 Liberty Head proof issues, as well as both 1907 No Motto Indian Head proofs and the unique matte finish 1909. However, for the purposes of this column, we are going to focus on the Draped Bust 1795 9 Leaves, 1798/7 $10 7x6 Stars, and the famous King of Siam 1804 Plain 4.

The 1795 Nine Leaves (or 9 Leaves) Draped Bust Eagle (BD-3, T-3) is among the rarest and most famous early gold die varieties. Overlooked until the first published description of its distinctive reverse in May 1934, this first-year issue features nine leaves in the palm branch below the eagle on the reverse (the other four 1795 Small Eagle die pairs have 13 leaves). The design of this rarity is mysterious in terms of origin, however. Perhaps it was an experiment, an artistic whim of the engraver, or simply an error. Regardless, only 20 to 22 examples exist of this sought-after die variety. The Tyrant Collection's specimen has lovely peripheral copper toning with a sharp strike and is graded PCGS AU50.

Another rare and coveted variety in American numismatics is the 1798/7 $10 Stars 7 Left, 6 Right (BD-2, T-10). Overdates have been struck since the earliest years of the U.S. Mint, when the manufacture of steel coining hubs and dies was a laborious, time-consuming, and expensive process. The 1798/7 Draped Bust Eagle (BD-2,T-10) was created when an "8" was repunched over the "7" of an unused 1797 die. Additionally, this die is the only Draped Bust Eagle obverse with seven stars on the left and six on the right. Only 20 to 30 examples are believed to exist. The Tyrant Collection's PCGS-graded AU58 specimen with its wonderfully toned original surfaces is among the finer examples known.

The 1804 Plain 4 Draped Bust Eagle is one of the rarest coins ever struck by the United States Mint; in the words of John Dannreuther, co-founder of PCGS, it is "one of the most spectacular gold rarities in the entire American series." This first [proof eagle], however, was not struck in 1804 but as a special strike in 1834-1835 for diplomatic proof sets as gifts to the King of Siam, the Sultan of Muscat, and the Emperors of Cochin China and Japan to establish trade relations. These four coins were struck using an unused 1800-1804 obverse die with only the first three digits of the date impressed to which a "Plain 4" was added. (For the reverse, an unused half dollar die from around 1805-1806 was used.) In addition to its majestic stature, what makes the 1804 Plain 4 issue also a variety? Until 1834, the only other 1804-dated eagles ever issued were struck with a Crosslet 4.

This Plain 4/Crosslet 4 variety pair also exists for a number of other U.S. denominations:

• 1804 Draped Bust Half Cent
• 1814 Classic Head and 1842 Braided Hair Large Cents
• 1834 Capped (Small) and Classic Head Half Eagles
• 1842 and 1842-0 Liberty Seated Half Dollars
• 1842 Liberty Head Eagle
• 1843-C and 1843-0 Liberty Head Quarter Eagles

The Tyrant Collection's PCGS-graded PR64CAM specimen is not only numismatically magnificent but the very coin included in the internationally historic 11-coin set gifted to Rama III, King of Siam from 1824 to 1851.