Lot 633
1796. LIKERTY. LM-1. Rarity-3. PCGS graded MS-64. Here is an incredible example of what is clearly one of the scarcest type coins to find in any grade. Remarkably, it is on the cusp of gem condition! The color is quite attractive with a blend of light golden patina near the rims, while the centers are silver white. The strike is unbelievable for this early and often crudely struck issue, as here is a coin with full definition on Liberty's upper most curls, as well as full breast feathers on the eagle. The depth of the strike is all the more amazing when one considers how cracked and clashed both dies were at the time this one was struck. How it survived in such exceptional condition is a mystery, but here it is.
The Draped Bust, Small Eagle design was struck for only two short years for half dimes--1796 and 1797. No half dimes were struck again until 1800, when the Heraldic Eagle design was used. Thus there are precious few of these Small Eagle coins around today. The vast majority known, again there aren't that many to begin with--are well worn and many are damaged or bent due to their small size and thin planchets. Close examination of this glorious coin will find a matrix of die cracks combined with mirror images of the opposing die clashed into the fields, primarily the palm leaves in the right obverse field, and Liberty's bust and hair showing all around through the reverse wreath. This is a magnificent example in so many ways, as it captures the potential quality produced at the Philadelphia Mint in its earliest days, shows the efficiency of using dies well beyond their initial cracks and clashes, displays the wonderful microquality of engraving on such a tiny die, and yet all the design elements work in a most elegant and cohesive fashion to produce this incredible 1796 half dime. This is one of the finer examples known of this prized and elusive issue, and a coin that any specialist will always be proud to own. A hint of light gold tone. Boldly struck with reflective fields. Only 10,230 struck. Pop 4; 3 finer, 1 in 65, 1 in 67, 1 in 67+. (PCGS # 4254) Estimated Value $35,000 - 40,000
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