A Very Difficult Year for the Coin Collector The Coins of 1799 A Very Difficult Year for the Coin Collector

In the early years of the US Mint, coinage was irregular at best In the early years of the US Mint, coinage was irregular at best. Of the ten denominations authorized by the Coinage Act of 1792, only four denominations were struck in 1799, the cent, the dollar, the $5.00 and $10.00 gold coins. As a result, no half cents, half dimes, dimes, quarters, half dollars or $2.50 gold quarter eagles were produced with the 1799 date. Three of the 1799 coins are rare, the cent and both gold issues. The dollar actually represents a common date in the short-lived Draped Bust series but since the beginning of the 21st century it has quadrupled in price. .

The three prominent figures of the period that were germane toward the completion of the eventual design type for Draped Bust coinage were Chief Engraver Robert Scot (1744-1823) renowned portrait painter Gilbert Stuart (1757-1834) and the beautiful Philadelphia socialite, Lady Anne Bingham, nee Willing (1764-1801)

Scot served as our Chief Mint Engraver from 1793 to 1823. An example of Scott’s first attempt at silver dollar coinage featuring the Flowing Hair/ small eagle design. It was struck in 1794 and 1795.

Origin of the Draped Bust design Gilbert Stuart Anne Bingham Scot would later fashion Stuart’s portrait of Lady Bingham on to the obverse of the Draped Bust dollar in 1795

An earlier portrait of Anne Bingham

The Draped Bust, small eagle Later in1795 the Draped Bust small eagle replaced the Flowing Hair type on the dollar. The side view Bust style does not appear to do justice to the Stuart portraits.

In 1798 the reverse of the dollar was changed from the small eagle to the Heraldic Eagle

The Draped Bust/ Heraldic Eagle was struck from 1798 thru 1803. The 1799 Bust dollar is considered the most common date of the short series.

The 1799 Draped Bust cent Sometime during the late 1820’s, young Joseph Mickley started looking for a cent for the year of his birth, 1799. He had trouble finding one.

Only an estimated 30,000 to 35,000 1799 dated cents may have been minted. Today these coins bring a high price on the auction market. This one realized over $160,000. It was graded XF-40.

Back in 2002 the Gallery Mint struck replicas with the word COPY in an unobtrusive place on A Mint State 1799 cent replica struck by the Gallery Mint. It sold for $12.00 but it looks very much like the original except for the word COPY on the reverse.

The two gold coins of 1799 are quite rare and very expensive Only 7,451 Half eagles were reported minted in 1799. This MS-63 example realized $62,350 and a recent Heritage auction. The 2010 Red Book lists it at $65,000.

The $10.00 gold Eagle is not as rare but seldom surfaces above AU-58. A 1799 $10.00 Eagle graded MS-62 by NGC It realized $34,500 at a Heritage auction in 2009.

The coins of 1799 do not come cheap. Even the dollar, once listed at $550 in VF now sells for over $2,000. -The End-