Lot 1317
1796 Draped Bust Dollar. Large date, small letters. . B-5, BB- 65. NGC graded EF-40. Light grey toning on both sides with excellent detail throughout the main design. Choice surfaces. A very attractive specimen of the year and variety. On this BB-65 variety, the "large" size of the date is not immediately obvious, but upon study, the digits are indeed slightly larger, and are in the numeral size used the following year, 1797. The 6 in date plainly shows it was double punched; this is visible at the underside of the top of the 6 and the upper inside of the bottom loop. Stars at right are very closely spaced and touch or nearly touch their neighboring stars. Highest wave of hair is below upright of E and is very indistinct, probably due to very light relapping. Pop 6; 13 finer (PCGS # 6861) .
The estimated mintage of 72,920 1796-dated dollars (of various die varieties combined, each of the draped bust, small eagle type) is less than that of the estimated mintage of 110,000 draped bust dollars coined with the date 1795. The Mint experienced severe difficulties in 1796, including an annual yellow fever epidemic. Coinage was anything but easy. On June 1, 1796, Tennessee was admitted to the Union as the 16th state. While other denominations reflected this, 16 stars were not used on silver dollars until 1797, which suggests that obverse dies for 1796-dated dollars were made prior to June. The number of dies employed to create 1796-dated dollars is as follows: 1796 obverses, 4; reverses, 4 (including one left over from 1795).
Estimated Value $7,000 - 7,500.
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