Lot 1936
1796 $5 Capped Bust. Small eagle, 6 over 5. . M-16. NGC graded MS-62. This is the only die combination of 1796 half eagle found. Examination will easily locate the 5 hiding beneath the 6, especially the ball of the 5 and the flag. Good luster remains and the surfaces show a few expected hairlines and scattered marks accounting for the grade. Well struck, but we not minor weakness on the high points of the eagle on the reverse, and on some elements of Liberty on the obverse. This is a thoroughly satisfying example of the issue, which is quite scarce among the small eagle early fives. While not a rare variety, this coin is needed by date, type and variety collectors alike, keeping pricing pressure high on the few that turn up. We note that this obverse die was not used to produce 1795 half eagles, but was probably prepared in 1795, not needed, and then overdated in 1796 after the new year. Miller notes that "only a few survivors near mint state", and this is borne out by the NGC Population Report which shows 2 graded as MS-62, with 5 graded higher (best MS-65). As a date, 1796 is far rarer than 1795, and this one is a lovely coin for the collector to secure.
Estimated Value $70,000 - 90,000.
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