Lot 454
1798 Draped Bust Dime. 98 over 97. 16 stars. . R-1. PCGS graded MS-65. This is the finest graded of the variety by PCGS! Toned with delicate gold hues on the obverse over frosty luster in the fields, and the reverse with a touch more gold, mostly at the periphery. Struck unevenly by the dies, as always, the central shield is slightly weak, and the second star on the obverse does not show the center as full as the others, and these diagnostics are seen on the few other high grade examples of this date. A curious die pair, the overdate feature is popular with the long tail of the 7 extending below the 8, and 13 stars are noted on the obverse. But wait, the reverse shows 16 stars! What was going on? Well, the Philadelphia Mint kept adding stars as new states joined the union. By 1796, there were 16 states, and hence 16 stars. Sometime in 1797-98 it was decided to go back to the original 13 stars, as the dies were becoming too crowded, plus most of the engravers could scarcely count up to 13, and sixteen was a big challenge for some. On the reverse, the stars are arranged in two rows of seven each, with two additional stars surrounding the eagle's head. The obverse die was not used to coin 1797 dimes, but was prepared and not used. Rather than toss it away, an 8 was engraved over the final 7, and coins were struck. The Philadelphia Mint prepared 4 reverse dies using the sixteen star pattern. Three of these dies were used to coin quarter eagles, which are the exact same size as dimes, and the other reverse was used to coin dimes. The dies used for the dimes all show rust and were poorly polished, and the obverse die was obviously lapped heavily before this one was coined, making the curls, stars and the Y of LIBERTY weaker than the surrounding details. An important opportunity for the dime specialist who demands gem condition, even on the early coins.
Estimated Value $25,000-UP.
No provenance known, although similar to the Eliasberg coin they appear to be different, and this is not the Numisma '95 example from Akers/Rarcoa/Stack's, nor is it the Suros coin from Superior.
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| Realized $57,500 |
