Lot 1244
1796. . JR-2, Rarity-4. NGC graded MS-64. Lovely antique multi-color toning. The dies of the JR-2 were used for this single die pairing. They seem to have held up well. In the early months of 1796, the Mint struck 22,135 from six die combinations.
The JR-2 is easily recognized with the obverse star 15 almost touching the drapery. R in LIBERTY is high and set too far left. On the JR-2 die marriage, the borders tend to be well struck. Of importance here is the fact the eagle is very well struck including a full head, eye, and beak detail, excellent claws and talons, and breast detail showing almost (but not quite) complete. Rich lavender-gray and gunmetal-blue patina embraces this carefully preserved and noteworthy example that is easily Condition Census-grade. A few minor handling marks in the field are mostly obscured by the lovely toning. Pop 19; 9 in 65, 7 in 66, 3 in 67.
Although the dime has been an essential part of the decimal coinage system until recent times when inflation has caused it to lose attention to the dollar-bill, it was one of the last coins issued by the United States Mint when operations first began. By the time it made its debut in 1796, as the Draped Bust/Small Eagle dime, the Mint had already been making copper cents and half cents for three years; silver dollars, half dollars and half dimes for two years; and even two gold coins-the eagle and half eagle-for a year. The only other coins delayed, like the dime, until 1796, were the quarter dollar and quarter eagle.
The Draped Bust/Small Eagle design by Mint Chief Engraver Robert Scot was used in 1796 and 1797. It features a buxom Liberty, her hair flowing and tied by a ribbon while her neckline is draped; all encircled by stars at the sides. The inscription LIBERTY appears above and the date below. The reverse depicts a small, spread-winged eagle perched upon clouds and surrounded by palm and olive branches. Encircling this is the motto UNITED STATES OF AMERICA. The coin carries no statement of value-curiously, the Mint Act of 1792 required that only the copper cent and half-cent be inscribed with denominations.
Pieces dated 1796 have fifteen stars--one for each state in the Union then. In 1797 some dimes were struck with sixteen stars (reflecting Tennessee's admission as the 16th state) and some with thirteen, symbolizing the thirteen original states. Such dies were prepared after the Mint abandoned the idea of adding an extra star for each new state.
Estimated Value $38,000 - 42,000.
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