Collection: Draped Bust $5 (1795 - 1807)

Draped Bust $5 Gold Coin (1795–1807): A Historic Treasure

The Draped Bust $5 Half Eagle represents one of the most sought-after early U.S. gold coins, both for its rarity and historical significance. These coins were minted during the formative years of American coinage, with many lost to melting when their gold content exceeded their face value in the mid-1830s. Today, they stand as enduring symbols of American history and craftsmanship.

Key Specifications

• Designer: Robert Scot
• Issue Dates: 1795–1807
• Composition: 91.67% gold, 8.33% copper
• Diameter: 25 mm
• Weight: 8.75 grams (135.03 grains)
• Edge: Reeded
• Business Strike Mintage: 335,379 (combined)
• Proof Mintage: None

Historical Context

The Half Eagle ($5 gold coin), authorized by the Mint Act of 1792, was the first U.S. gold coin struck for circulation. Its production began in 1795, with two distinct reverse designs introduced during its run: the Small Eagle (1795–1798) and the Heraldic Eagle (1795–1807). These coins were integral to early American commerce, valued not by their face value but by their gold content.

Design Features

Type 1: Small Eagle (1795–1798)

• Obverse: Miss Liberty faces right, wearing a cloth cap, with LIBERTY above and the date below. Star arrangements vary by year, typically with 10 stars on the left and 5 on the right.
• Reverse: Features a small eagle perched on a palm branch, holding a wreath in its beak. Surrounding the eagle is the inscription UNITED STATES OF AMERICA, with no denomination indicated.

Rarity and Collectibility:

• Mintage totaled 18,512, with the 1795 date being the most common among surviving examples.
• The 1798 Small Eagle is an extreme rarity, with fewer than a dozen known.
• Most coins are graded Very Fine (VF) to About Uncirculated (AU), although some Uncirculated examples exist, often with prooflike surfaces.

Type 2: Heraldic Eagle (1795–1807)

• Obverse: Similar to the Small Eagle type, featuring Miss Liberty facing right. Star arrangements vary.
• Reverse: Displays a heraldic eagle inspired by the Great Seal of the United States. The eagle holds arrows and an olive branch, with a shield on its breast and a ribbon inscribed E PLURIBUS UNUM in its beak. A galaxy of stars and an arc of clouds appear above.

Rarity and Collectibility:

• Mintage for the Heraldic Eagle type totaled 316,867, with dates ranging from 1795 to 1807.
• The Mint often reused older obverse dies, meaning coins dated 1795 or 1797 may have been struck later.
• Coins dated 1798–1807 are more readily available, with specimens in VF to AU grades being accessible. Uncirculated examples are scarce, typically showcasing frosty luster.

Why Collect Draped Bust $5 Gold Coins?

1. Historical Significance: These coins were among the first gold denominations minted in the U.S., symbolizing the nation's economic growth and sovereignty.
2. Rare and Valuable: With limited mintage and high attrition due to melting, surviving examples are prized by collectors.
3. Artistic Design: Robert Scot's designs reflect the elegance and craftsmanship of early American coinage.
4. Investment Potential: As rarities, these coins maintain strong demand in the numismatic market, often achieving five- and six-figure prices depending on grade and variety.

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Whether you're a seasoned collector or a passionate numismatist, ParadimeCoins.com offers an exceptional selection of Draped Bust $5 Gold Coins. Explore the legacy of early American coinage and secure a timeless piece of history for your collection today!