WHAT
ARE FULL TALONS?
Article by Robert Ezerman and
David R. Golan
"Full Talons"
(FT) is a descriptive designation (known as a
"superlative" or "attribution") which
is used to recognize Susan B. Anthony dollar coins
(SBA's) whose reverse-side eagle has full talons.
The reverse of the SBA is
the same as its predecessor, the Eisenhower dollar. The
design commemorates the landing on the moon by the
"Eagle" spacecraft in July, 1969. (Who can
forget Neil Armstrong's famous words, "The Eagle has landed"?)
This reverse design shows
an eagle descending onto the moon with the earth in the
background over its right wing, the eagle's six talons
firmly clutching an olive branch, a universal symbol of
peace. The symbolism is powerful, but often, remarkably
often, the talons are poorly defined. Pictured is the
typical range of talon definition seen on SBA's. (SEE PHOTOS BELOW)
Since the recognition of
Full Talons is quite new, there is no recognized or
official definition. With simplicity in mind, a good
start might be:
"Full
Talon SBA's show six fully separated talons".
Currently, none of the
Third Party Graders (TPG) is designating SBA's that
exhibit full talons. They will each have to decide
whether to adopt the FT superlative and how to define it.
- HOW MANY
SBA'S HAVE FULL TALONS? -
The above definition
captures about 30% of all SBA's . A tighter definition
that stipulated "full and rounded talons" would
capture maybe 20% of SBA's while an even tighter
definition that demanded "full anatomic accuracy
including some skin folds" would capture about 5% or
less.
So, roughly 5% of SBA's
exhibit talons that have full and complete definition. At
the other end of the spectrum of talon definition, about
5% of SBA's have blobs for talons and olive branch. The
90% in between fall into a Bell Curve that shifts
significantly with differing years and mints. For
example, the 1980-S SBA seldom shows" six fully
separated talons" while the 1979-P often does
(roughly 60%).
- FULL TALONS
AND HIGH-GRADE SBA'S -
While finding an SBA with
Full Talons is not particularly difficult, the
combination of high-grade (MS66-68) and FT can be quite
elusive. David R. Golan, former owner of the #1 PCGS
Registry Set of Mint State SBA's, spent more than six
years putting together his all FT set.
It is noteworthy that
higher-grade TPG-certified SBA's show the same spectrum
of talon definition (from blob to FT) that raw SBA's
show. You will see holdered SBA's in MS66 and MS67 that
have blobs for talons. Clearly the graders have not been
aware of the talon issue or pay no attention to talon
definition.
- FULL TALONS
AND "SMS" 1999 SBA's -
The 1999 SBA's were
released both as regular circulation strikes and in
Special Mint Sets (SMS) that contain a 1999-P and a
1999-D SBA. These SMS SBA's were double struck from dies
that had a proof-like polish so most have a chrome-like
finish that is unique in the series.
Many SMS SBA's have full
and rounded anatomic talons with visible skin folds, just
as all SBA proofs do. Regular issue 1999 SBA's do not
exhibit this greater incidence of increased talon
definition.
As one would expect, most
high-grade holdered 1999-D and 1999-P SBA's come from SMS
sets. Even SMS SBA's, however, can have poor talon
definition.
Unlike some earlier SMS
coins in other denominations, the SBA SMS dollars have
the same composition and weight as regular 1999 SBA's so
there is, as of now, no sure test to distinguish SMS from
regular.
- OPPORTUNITY
STRIKES! -
If and when TPGs attribute
FT, the value of SBA's that have full talons should
increase substantially, especially high-grade examples.
Consider the premiums granted Full Steps (FS) Jeffersons,
Full Head (FH) Standing Liberty Quarters, and Full Bell
Line (FBL) Franklins.
Also, if the TPGs find a
reliable way to distinguish SMS 1999 SBA's from regular
1999 SBA's, high-grade and FT regular SBA's will be
sleepers.
WHEN WILL
TPGS ATTRIBUTE FULL TALONS?
PCGS, NGC, ANACS AND ICG
all have a similar "wait and see" attitude. If
SBA collectors and submitters begin to actively look for
and demand this attribution, the TPGs will respond. They
will not, however, "lead the pack".
- "THE
BOTTOM LINE" FOR THE SBA COLLECTOR -
You have an opportunity to
be on the ground floor of the Full Talon concept before
it is generally recognized. Enjoy the thrill of the hunt
before FT becomes widely known and more highly prized and
priced.
You might also want to
look for better examples of regular release 1999 SBA's,
especially those with FT, and put them away.
But be warned: once you
develop an eye for FT SBA's, you will never be happy with
blob foot examples!
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