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Lot
5012

1796 1/2 C With Pole VF20 PCGS. C-2, B-2, High R.4....

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 7 Internet/mail/phone bidders Number of Bidders
1,134 page views
Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:
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1796 C-2 Half Cent, VF20
With Pole to Cap
1796 1/2 C With Pole VF20 PCGS. C-2, B-2, High R.4. The surviving 1796 With Pole half cent population is about 115 coins from a mintage estimated at less than 1,200 pieces. In addition, about two dozen 1796 No Pole half cents are known. The actual mintage of most 18th century U.S. coins is unknown, as most issues were struck after the date shown on the coins. Dies remained in use as long as they were serviceable, and in some cases even after they should have been retired. However, most researchers agree that the recorded mintage of half cents in 1796, just 1,390 coins, reflects the true production of coins bearing that date. The actual mintage for each of the two varieties, No Pole and With Pole, is unknown, but was likely about 10 times the number known today, or about 240 No Pole pieces and 1,150 With Pole half cents.
Both varieties of 1796 half cents are rare in the middle range of circulated grades. A few of each survive in Mint State, while most others grade no better than VG. Any piece that falls between those extremes enjoys substantial collector demand. The present piece is the only example that PCGS has certified VF20, with only one other VF, a 30-grade coin (6/12).
Both sides of this splendid cent host myriad handling marks as expected. The surfaces are light olive-tan, with delicate blue and violet overtones. A trivial rim bump is evident at the bottom of the obverse. Our EAC grade Fine 12.
From The Rocky Mountain Collection.(Registry values: P9) (NGC ID# 2227, PCGS# 1027)

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