Lot 2907
1796 Draped Bust Half Dollar. 15 stars. PCGS graded Overton-101. EF-40. Nice original even toning. Very important type coin. An especially clean and attractive example providing the most advantageous order for a collector inasmuch as this is the most important half dollar Type in all of American numismatics. Its high degree of natural "old silver" patina is a definite plus, since there is no evidence of cleaning. Well struck, too, with just a small amount of weakness at the stars which have flat tops. A few very faint hairlines on the shoulder; only faint traces of planchet adjustment along the lower right obverse rim plus in the cloud below the eagle's feet requires magnification to see. The rims are complete, choice, unbroken by nicks.
The draped bust, small eagle halves are among the most mysterious of U.S. coin types, as well as among the rarest. Two obverses dated 1796, respectively with 15 and 16 stars, were muled with a single reverse, which was carried over to make the first of the two varieties dated 1797 -- again with 15 stars, not 16: Why? The mystery deepens when we consider delivery dates described in the last lot. By internal evidence, both 15-star obverses must have been made before June 1796, as the shift to 16 stars commemorated the admission of Tennessee to the Union on June 1. Then the 16-star die must have been completed either anticipating or following the celebrations of that time.
The draped portrait of Liberty is by Robert Scot after a drawing by Gilbert Stuart, modeled by Mrs. William Bingham (nee Ann Willing), Philadelphia socialite reputed to be one of the most beautiful women of her day. John Eckstein is credited with the eagle; the palm branches were originally a compliment to Mint Director DeSaussure's South Carolina homeland, but by the time these half dollars were made, the device was an anachronism, as DeSaussure had long since resigned. Pop 3; 10 finer. (PCGS # 6057) .
Estimated Value $90,000 - 100,000.
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