The Midwest Summer Sale 2007
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Please Note: A 15% Buyers' Premium is added to the hammer price of all lots in this sale.
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(About The Images)
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Lot Title:
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1796 15 Stars, O-101, R-5. NCS XF-45 Detail, Cleaned.
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Description:
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The effigies seen on both sides of the Draped Bust Small Eagle Reverse Half Dollar were combined for use for a brief two-year period, from 1796 through 1797, though the obverse motif would continue in use for several more years on the far more common Heraldic Eagle version of the denomination. The Draped Bust depiction of Liberty was considered a considerable aesthetic advance over the Flowing Hair obverse design. Over the referenced two-year period, the fledgling mint was able to produce a recorded total of only 3,918 examples, a sum which all by itself immediately suggests that any surviving example of the population must be considered a rarity, and such is indeed the case. All coins dated 1797, and some dated 1796, bore only 15 stars, but curiously, about a third of the known survivors dated 1796 display 16 stars on the obverse. It has been postulated that the additional star was intended to represent admission of Tennessee to the Union as a new state on June 1, 1796, but the fact that later 1797-dated coins lack the extra star defies immediate explanation. We find that no delivery of half dollars in 1796 is recorded, but an initial delivery of 60 coins occurred on February 28, 1797. These were likely dated 1796 with 15 stars. On March 21, 1797, an additional delivery of 874 pieces occurred, and it is conjectured that they were 1796-dated pieces comprised of both 15 and 16 star obverse. A final delivery of the remaining 2,984 pieces is recorded for May 26, 1797, and is believed to have been comprised of only 1797-dated 15 star issues. The net effect of this convoluted series of deliveries is that the 16 star variety is the rarest of an already extraordinarily scarce type. The present offering exhibits no singularly obtrusive marks or blemishes despite meticulous examination. Despite the NCS holder’s disclaimer of “Cleaned,” it is not immediately apparent what indications gave rise to that assessment, and the viewer will be surprised at the rather original appearance provided by this glorious type coin. To the contrary, the surfaces are imbued with light to medium grey hues, and the surfaces do not appear to be particularly abraded. With a strike that must be considered at least above average, an essentially original appearance that should please any connoisseur, and the obviously alluring prospect of owning such an esteemed rarity, there is no question that this lot is destined to culminate in spirited bidding, and justify itself as a highlight of our sale.
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Low Estimate:
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$65,000.00 |
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High Estimate:
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$70,000.00 |
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Lot Status:
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Bidding has been closed for this lot. |
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Hammered Price: |
$56,000.00
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Price Realized:
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Price history for items of the same classification:
| Lot # | Auction | Current Bid or Hammer Price | Description |
| 529 | The Midwest Summer Sale 2010 on 07/23/2010 | $48,500.00 |
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1796 "15 Stars on Obverse" (O-101, R.5). NGC VF-30.
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(ex-Joseph C. Thomas Collection) Setting aside the major denominations (one-dollar and above), the draped-bust small-eagle half-dollar is far and away the most difficult type to locate for completion... |
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| 542 | The Midwest Winter Sale 2007 on 02/09/2007 | $44,000.00 |
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1796 15 Stars, O-101, R-5. VF-20.
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The consignor of this coin purchased it several years ago in a PCGS holder. It was certified as a VF-20. He subsequently submitted this piece to Numismatic Guaranty Corporation with the belief it... |
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