Draped Bust $5 Gold Basic Set, Circulation Strikes (1795-1807)

The early gold coins of the United States are among the most coveted and rarest items in the numismatic world. This is due both to extremely limited original mintages as well as prolific melting that took place during the late 1820s and early 1830s when the bullion value of the coins exceeded their face value. The first Half Eagles struck between 1795 and 1798 appeared with both a small and large eagle reverse; the former being the rarest. A literal handful of 1798s were struck with the Small Eagle reverse, and it is today one of the most famous and highly publicized U.S. Half Eagles. It has always been held in high esteem by collectors. A mere seven pieces are known today, with prices well into the mid-six figures. No mint state pieces are known. The Large Eagle reverse pieces dated 1798 and later are more widely available, but with AU and better examples worth over $10,000, they can hardly be called "common."