Extremely Rare 1798 'Small Eagle' Gold Half Eagle Achieves $3 Million at Auction
SAN JUAN, PUERTO RICO, January 19, 2026 /EINPresswire.com/ -- Finest Known Specimen of One of America’s Most Enigmatic Gold Rarities Sets New World Record
A historic achievement in the market for early American gold was recorded recently with the $3,000,000 sale of a 1798 Capped Bust Right "Small Eagle" gold half eagle. The transaction, concluded during a premier January numismatic event, nearly doubles the previous auction record for the variety and establishes a new benchmark for 18th-century United States gold coinage.
The specimen, graded AU55 by the Professional Coin Grading Service (PCGS), is the finest known of only seven surviving examples of this specific die marriage. Part of the prestigious Bruce S. Sherman Collection, the coin represents a pivotal moment in the history of the United States Mint, marking the final use of the "Small Eagle" reverse design on the five-dollar gold piece.
"The $3 million result for the 1798 Small Eagle half eagle confirms its status as one of the most significant rarities in the entire federal series," stated a representative for the auction proceedings. "With two of the seven known specimens permanently held in the Smithsonian Institution's National Numismatic Collection, the opportunity to acquire the finest example in private hands is a generational event for the world’s most advanced collectors."
Historical Significance and Enigma
The 1798 Small Eagle half eagle is widely considered an "anachronistic" rarity. By late 1797, the U.S. Mint had officially transitioned to the "Heraldic Eagle" reverse. However, for reasons that remain a subject of historical debate, a single pair of dies featuring the older Small Eagle design was utilized to strike a minute quantity of coins dated 1798.
The Sherman specimen is celebrated for its exceptional preservation and a storied provenance that traces back through some of the most famous cabinets in history, including the legendary collection of King Farouk of Egypt and the D. Brent Pogue Collection. Experts note that the coin retains much of its original "proof-like" luster, a rare characteristic for early gold that was typically subject to heavy circulation or melting.
Market Momentum
The sale led a series of high-value transactions that contributed to a total auction realization of over $78 million. Analysts point to the $3 million price point as evidence of the "blue-chip" status of early American gold, as investors and collectors increasingly seek out tangible assets with a proven scarcity and a historical narrative that spans the founding of the U.S. monetary system.
Detailed auction records and historical data for the 1798 Small Eagle gold series are available through verified numismatic archives.
About the Bruce S. Sherman Collection: The Bruce S. Sherman Collection is recognized as one of the most significant assemblies of United States coinage in recent decades. The collection's focus on "finest known" specimens and historic gold rarities has consistently set new price levels across the numismatic market.
Disclaimer: This press release contains forward-looking statements regarding the market for precious metals and rare coins. These statements are based on current expectations, estimates, and projections, as well as management's beliefs and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that may impact future performance include fluctuations in metal prices, market demand, regulatory changes, and economic conditions. Investing in precious metals and rare coins involves risks, including market volatility and potential loss of principal. Past performance is not indicative of future results.
Prospective investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, commodities, or investment products. All information is provided as of the date of this release, and we undertake no obligation to update any forward-looking statements to reflect changes in future events or circumstances.
A historic achievement in the market for early American gold was recorded recently with the $3,000,000 sale of a 1798 Capped Bust Right "Small Eagle" gold half eagle. The transaction, concluded during a premier January numismatic event, nearly doubles the previous auction record for the variety and establishes a new benchmark for 18th-century United States gold coinage.
The specimen, graded AU55 by the Professional Coin Grading Service (PCGS), is the finest known of only seven surviving examples of this specific die marriage. Part of the prestigious Bruce S. Sherman Collection, the coin represents a pivotal moment in the history of the United States Mint, marking the final use of the "Small Eagle" reverse design on the five-dollar gold piece.
"The $3 million result for the 1798 Small Eagle half eagle confirms its status as one of the most significant rarities in the entire federal series," stated a representative for the auction proceedings. "With two of the seven known specimens permanently held in the Smithsonian Institution's National Numismatic Collection, the opportunity to acquire the finest example in private hands is a generational event for the world’s most advanced collectors."
Historical Significance and Enigma
The 1798 Small Eagle half eagle is widely considered an "anachronistic" rarity. By late 1797, the U.S. Mint had officially transitioned to the "Heraldic Eagle" reverse. However, for reasons that remain a subject of historical debate, a single pair of dies featuring the older Small Eagle design was utilized to strike a minute quantity of coins dated 1798.
The Sherman specimen is celebrated for its exceptional preservation and a storied provenance that traces back through some of the most famous cabinets in history, including the legendary collection of King Farouk of Egypt and the D. Brent Pogue Collection. Experts note that the coin retains much of its original "proof-like" luster, a rare characteristic for early gold that was typically subject to heavy circulation or melting.
Market Momentum
The sale led a series of high-value transactions that contributed to a total auction realization of over $78 million. Analysts point to the $3 million price point as evidence of the "blue-chip" status of early American gold, as investors and collectors increasingly seek out tangible assets with a proven scarcity and a historical narrative that spans the founding of the U.S. monetary system.
Detailed auction records and historical data for the 1798 Small Eagle gold series are available through verified numismatic archives.
About the Bruce S. Sherman Collection: The Bruce S. Sherman Collection is recognized as one of the most significant assemblies of United States coinage in recent decades. The collection's focus on "finest known" specimens and historic gold rarities has consistently set new price levels across the numismatic market.
Disclaimer: This press release contains forward-looking statements regarding the market for precious metals and rare coins. These statements are based on current expectations, estimates, and projections, as well as management's beliefs and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that may impact future performance include fluctuations in metal prices, market demand, regulatory changes, and economic conditions. Investing in precious metals and rare coins involves risks, including market volatility and potential loss of principal. Past performance is not indicative of future results.
Prospective investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, commodities, or investment products. All information is provided as of the date of this release, and we undertake no obligation to update any forward-looking statements to reflect changes in future events or circumstances.
Christian Briggs
BMC HAM
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