This is the 1798 Turban Head $10 Gold Eagle, specifically the legendary “8 Over 7” Overdate variety. Its incredible value comes from its history, its 90% gold composition, and a fascinating minting anomaly that tells a story of a young nation.
💡 A Piece of History: The Turban Head Gold Eagle
To understand the coin, you have to understand the era. In the 1790s, the United States was a new country, and its Mint in Philadelphia was still finding its footing.
- Designed by Robert Scot: This beautiful coin, featuring a capped bust of Lady Liberty, was one of the first gold coins produced for the young nation.
- Saving the Dies: Dies for striking coins were expensive and time-consuming to create by hand. To save resources, the Mint would often re-tool old dies for use in the new year. In this case, a die from 1797 was re-engraved with an “8” punched directly over the “7,” creating the famous “1798/7” overdate.
- An Extremely Low Mintage: For the specific variety we’re discussing (7×6 Stars), it is believed only 842 coins were ever minted, making it extraordinarily rare from the very start.
💲 Decoding the $927,000 Coin: The Key Varieties
The value of this coin lies in spotting a combination of key features.
- The “8 Over 7” Overdate: As seen in the closeup image, when you look at the date under magnification, you can clearly see parts of the underlying “7” peeking out from behind the loops of the “8”. This is the first crucial feature.
- The Star Arrangement (7×6 Stars): The stars on the front represent the states in the Union. For this specific, rare variety, there are exactly 7 stars on the left side of Liberty and 6 stars on the right. Another variety from this year has 9 stars on the left and 4 on the right.
📊 Understanding the Value: From Circulated to “Perfect”
The value of this coin skyrockets with its condition. Because so few were made and most were heavily used in commerce over 200 years ago, high-grade examples are almost mythical. Here is a breakdown of its value based on certified grades:
| Grade | Condition | Approximate Value (USD) |
|---|---|---|
| G-4 | Good (Heavily worn but all details visible) | $62,456 |
| F-12 | Fine (Significant wear but still sharp) | $86,570 |
| VF-20 | Very Fine (Light wear, strong details) | $146,311 |
| EF-40 | Extremely Fine (Very light wear on high points) | $238,457 |
| AU-50 | About Uncirculated (Trace of wear, mostly lustrous) | $680,879 |
| MS-63 | Mint State/Uncirculated (A superb “new” coin) | $927,624+ |
As you can see, a pristine, uncirculated example of this coin is valued at nearly one million dollars, making it one of the ultimate prizes in American numismatics.
✅ How to Identify This Early American Treasure
While this coin is almost exclusively found in major auctions or advanced collections, here is how experts identify it.
- Step 1: Verify the Gold Composition The coin is made of 90% gold and weighs 17.5 grams with a diameter of 33 mm. Its golden hue and significant weight are unmistakable.
- Step 2: Confirm the “8 Over 7” Overdate Using a good magnifier, focus on the date. You must be able to see the top horizontal bar and the diagonal stem of the underlying “7” within the shape of the “8”.
- Step 3: Count the Stars Carefully count the stars on the obverse. For this specific high-value variety, there must be 7 stars to the left of Liberty’s portrait and 6 stars to the right.
🌏 The Global Hunt for America’s First Treasures
The story of early American gold is a global one. These coins were not just used in the United States; they were carried by merchants, diplomats, and wealthy travelers across the oceans. A coin like this could have been used in a trade deal in Europe or Asia in the 1800s, eventually becoming part of a family’s treasure or a forgotten collection. It’s entirely possible for one of these magnificent pieces of history to surface anywhere in the world, even in a collection here in Southeast Asia.
The hunt for these foundational pieces of American history is what makes coin collecting a thrilling, lifelong adventure.
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