Lot 3421
1796 $10 Capped Bust BD-1, Rarity 4. NGC graded AU-58. Well struck and exhibits beautiful semi-reflective surfaces. Delicate sunset golden toning rests about the surfaces on both sides.
Just one die variety is known for the 1796 capped bust eagle. The obverse stars total 16, reflecting Tennessee's admittance as a new state, arranged 8 + 8. LIBERTY is positioned higher on the obverse than on the 1795 varieties, starting from the peak of Liberty's cap (farther left than on the 1795 coin) and ending adjacent her forelocks. The palm branch on the reverse now bears 11 leaves instead of 13 or nine as in 1795. The mintage is 4,146.
Here is a rare coin in About Uncirculated 58 condition. The surfaces retain much of the original luster and we note virtually no signs of the usual scattered ticks on either sides. Indeed, the surface is as clear and choice as any found on a 1796 early Eagle in this grade! Struck on a perfect planchet with smooth, even surfaces on both sides, noticeable both in the fields and on the devices, which lends immensely to the pleasure of studying it with a magnifying glass. If one wanted to pick out a point of reference, then perhaps a thin hairline through the eagle's neck extending toward the right wing might be offered. Hardly surprising on a coin fast approaching 214 years old. Adjustment marks are also not an issue on the smooth surfaces. Regarding this date, the clearest details are found throughout the peripheral areas such as the stars, lettering and rim dentils, but also encompassing the key centers which are crystal clear as noted in the cap folds and hair waves, the eagle's wing and chest feathers. There is a good chance that this coin is well within the top few known of the grade in terms of eye-appeal as well as the aforementioned untouched surfaces (certainly of those certified). It would make a worthy acquisition by a specialist in the series, or a date collector who wants an extraordinary example of this early small eagle $10 offering superb aesthetic appeal as well as sharp technical quality. A very special example of the Small Eagle Type. Pop 28; 16 finer, 1 in 60, 9 in 61, 4 in 62, 2 in 63 (PCGS # 8554) .
Die State: Struck from the only die marriage known for the date, this is from a middle die state where a faint progressive die crack forms vertically through the bust from the cap to the base of the bust above and (later) strengthens to the right of the 9 in the date. Much later still, after the reverse was used to coin issues of 1797, these two dies were recombined to strike more examples, both dies then showing advanced deterioration with additional cracks.
Estimated Value $60,000 - 65,000.
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