Lot 780
1797. Overton-101a. Rarity-5. 15 Stars. NGC graded AU-55. This is a very attractive silver gray and steel blue toned coin with the classic look of "old silver". The stike is exceendingly sharp, including Liberty's lovelock before her ear, a feature that wears away quickly after limited circulation. Thus this is a testament to the high grade of the present offering. Furthermore, Liberty's drapery shows full separation right onto Liberty's shoulder. On even the highest grade specimens of this type, this feature rarely shows, but here this feature is sharp and well defined. Also the eagle's eye is clear when studied. Nicely toned on both sides and an important silver type coin which is rarely found in grades even approaching this. Only 3,918 struck. Pop 2; 5 finer at NGC. Estimated Value $100,000 - UP
1797 is the key date Bust half dollar and the rarest half dollar in Type in the entire United States series. The design of the Draped Bust obverse with the Small Eagle reverse was used only in 1796-97 when the Heraldic Eagle reverse was adopted (in early 1798 on dimes, but half dollars weren't struck again until 1801, thus no half dollars were struck from 1798 through 1800). The minuscule mintage tells the story once more since the total struck was recorded as 2,984 pieces for the year. Precious few are known today, particularly in high grades.
Extensive die cracks are noted on the upper reverse, common to this variety. In addition there is a small die crack through the O in OF a new crack develops from the edge between DS and across the left wing. Another crack develops from the edge down through the first T in STATES to the eagle's head and in its final states (as seen here) becomes a mass of die cracks. Quite interesting and educational to the student of die progression. Amato coin serial #410.
Ex: Dr. Clifford E. Smith and Son Collection (Stack's, May 1955), About Uncirculated, Lot 1017 $900; R. L. Miles, Jr., Collection (Stack's April 1969) Extremely Fine, Lot 1207, $4,000. Worrell Collection (Superior Galleries, September, 1993), PCGS XF40, Lot 637, $31,900; Superior Galleries (January 1994) PCGS XF40, Lot 1438, $31,350; Superior Galleries (September, 1998) NGC AU55, Lot 330, unsold; North American Certified Trading FPL (May 2002), PCGS AU55, John Hamrick Coins FPL (December 2002, NGC AU55.
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