1796 $1 Large Date, Small Letters MS(PCGS#6861)

November 2025 Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

2104

等级

XF45

价格

76,793

详细说明

BB Die State II, Salyards Die State f. This otherwise steel gray example exhibits a speckling of lighter antique silver backlit by powder blue iridescence at left reverse. It is boldly defined apart from minor softness of strike at left obverse and in the centers on both sides. Underlying glossiness is noted for accuracy, as are a few dull marks in the right obverse field and to the right of the date.<p>The year of the death of the first mint director, David Rittenhouse, and the year of John Adams' election to the presidency, some 72,920 silver dollars were struck according to mint records in calendar year 1796. Writing in the excellent 2022 reference <em>Eagle Poised on a Bank of Clouds</em>, Harry E. Salyards asserts that the first two deliveries of that year - 4,550 coins on January 30 and 390 coins on February 13 - were from 1795-dated Draped Bust dies. He also asserts that all 7,776 coins delivered during calendar year 1797, as well as the 8,770 pieces delivered on January 18, 1798, were from 1796-dated dies. These calculations result in an estimated mintage for the 1796-dated Draped Bust silver dollar issue of 84,626 coins. This total was achieved using six die pairs with Bowers-Borckardt 65, represented here, one of the more distinctive varieties. Both the obverse and reverse dies saw use exclusively in this marriage. While not immediately obvious, close examination reveals that the digit 6 in the date is clearly repunched. Early on in its use, a chunk of metal in the reverse die between the letters I and C in AMERICA fell out, causing a large lump to form on the coins once struck. This lump expanded significantly as the die continued in use and is an easy diagnostic for identifying the BB-65 variety. Contrary to traditional numismatic wisdom, examples without this lump break do exist, although they are rare.<p>The second most available of 1796 dollars behind only the BB-61 die marriage, most of the estimated 475 to 800 survivors (per Salyards) are found in mid-level circulated grades. At the Choice EF level, as certified by PCGS, the offered coin is conditionally scarce and has much to offer both advanced type collectors and early dollar enthusiasts.