Rare 1798/7 Draped Bust $10 coin with minting error sells for $425,000

A 1798/7 Draped Bust $10 coin, a rare piece of American numismatic history, is commanding a price of $425,000 due to a significant minting error. This particular coin belongs to the "Eagle" denomination, established by the Coinage Act of 1792 but only produced from 1795 onwards due to technical and administrative requirements.

“

The overdate that distinguishes the $10 coin sought by collectors

The coin's allure for collectors stems from a "overdate" error, where the die was dated 1798 but reused from a previous year, 1797. This practice was common in the late 18th century to extend the lifespan of minting tools. Additionally, the coin features two distinct star configurations on its obverse: a 9x4 arrangement, which was used on only a specific pair of dies.

“

This practice was habitual in the Mint at the end of the 18th century to extend the useful life of the minting tools.

Experts estimate that between 80 and 100 examples of the "BD-1" combination survive, fueling sustained collector interest. Authenticity can be verified by observing the overdate error on the obverse and specific die cracks visible on both sides. One prominent crack runs through the "L" of "LIBERTY," across the hair, and into the coin's field, with others appearing on the portrait and the "UNITED" inscription on the reverse.

“

Specialists estimate that between 80 and 100 examples of the combination known as BD-1 survive, a figure that explains the sustained interest in this version within the collector market.

The coin's condition significantly impacts its value. An example graded MS61 by PCGS sold for $168,000, while another graded MS62+ achieved $324,000 at Heritage Auctions, setting a record for this issue. PCGS price guides indicate that coins with less wear command the highest prices.

“

The error of overdate can be observed on the obverse of the coin