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Sale 65
Lot 5023
1796 B-4, BB-61 Draped Bust Small Date Large Letters Rarity 3 PCGS graded Genuine. Subset of PCGS # 6860. Our grade is sharpness of AU55. Medium gray toning with some silvery aspects to it. Well struck for the date, with bold reverse details present, much closer to 100% "full" than can be said about most others of this variety or, for that matter, most other Small Eagle issues of any variety! Fully struck coins of this date are rare. Broad dentils characterize many 1796 (and 1797) Small Eagle silver dollars.
Henry DeSaussure, the Mint Director, responding to criticisms of the Robert Scot design of the Flowing Hair style used in 1794-95, had a new obverse made based upon a drawing by Gilbert Stuart, the prominent portrait artist whose Washington likeness appears on the $1 bill. It is believed the model for the obverse was Mrs. William Bingham, a famous belle of the day and friend of both Washington and Jefferson. The dies were done by Jacob Eckstein, a German-born specialist, in September to October 1795; he was probably responsible for the redesign of the reverse as well which was undertaken at the same time.
The revised reverse quite possibly was designed to allow fuller striking of both sides with the new obverse; the old reverse would have been so placed as to leave the eagle almost headless on most normal strikes.) The first strikes of the new design took place in October 1795. By 1796, full production of the Draped Bust, Small Eagle coinage, from half dimes to silver dollars, commenced, although in small numbers by todayís high production levels.
BB-61 is a popular adjunct to early Silver Dollar collecting. The obverse has a small, wide date with 96 close and the 6 tipped to the left. A raised "dot" or die flaw is present over the 1 in the date and closest to the bust, a tiny extra projection or flaw extending from the space at the bottom of star 11. This and the obverse used to strike BB-66 are believed to be the first two obverse dies cut in 1796, and have the lower right tip of the R in LIBERTY intact.
Reverse A consists of large letters in the legend. AMER are crowded and touch at their bases. Eight plain berries in wreath. There is a berry under the first T in STATES. Two leaves are beneath the eagle's right (to observer's left) wing, these having been added by hand in front of the cloud. A small defect in the field is attached to two denticles below, and slightly left of, the left ribbon end. This die is from the same hub used to create 1795 BB-51 and 52, but on 1796 BB-61 is not as strongly impressed, with the result that the eagle's breast feathers are rarely bold. Reverse die used to strike 1796 BB-61 only (PCGS # 40000) .
Estimated Value $8,000-UP.
The Dr. Hesselgesser Collection.
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