Splendid Mint State 1796 B-4, BB-61 Small Date, Large Letters Silver Dollar

1796 $1 Small Date, Large Letters. B-4, BB-61, R.2. MS61 NGC. Small, wide date, 96 close, die dot above 1; Berry under first T in STATES. Reiver die state a. Bowers-Borckardt die state I. The Reiver plate coin for the variety both obverse and reverse. An outstanding Uncirculated example of the Draped Bust, Small Eagle silver dollar, and one of just a handful that survived in this lofty grade. The surfaces are frosty and show unbroken luster in the fields and on most of the devices. Liberty's curls show strong separation on all but a couple of the highest and finest hair strands, which are weak. Most of the breast feathers are sharp on the eagle too, as well as the finer definition on the wing feathers. There are some crossing adjustment marks on the reverse, primarily on the eagle (where they were not quite struck over by the dies), and along the rims. These adjustment marks are fairly light and not distracting to the unaided eye, but can clearly be seen with a loupe. No rim problems or surface disturbances, and this is coin is a delight to view.
From a die state perspective, this coin was struck very early in the life of the obverse and reverse die. Note that the curl on Liberty's head is sharp and complete and shows no sign of lapping of the die. Similarly, the lower curl nestled between the first two stars is sharp, and this curl is often lapped away to some degree, particularly on this die variety. The die dot over the 1 in the date is very sharp, and this may have been caused by a mispunched 1 or was simply a small defect in the die similar to the lump on the reverse of the B-5, BB-65 variety.
There are fewer than a dozen coins of this date which are the equal or finer than the present example, as virtually every coin struck entered circulation and stayed there are least for a brief time. More importantly, the Small Date, Large Letters variety seen here is inexplicably hard to find in uncirculated grades. Most of the surviving 1796 silver dollars in uncirculated grades are the Large Date, Small Letters variety. In terms of availability, precisely the opposite would be expected. What really matters is that this particular coin is truly exceptional in quality, and has been off the market for over thirty years. Somehow the present coin survived in excellent condition, with the desired mint frost surviving intact for over 200 years. A memorable opportunity and one of the highlights of the Jules Reiver Early dollar collection. Certainly high in the Condition Census for the variety, and may in fact be one of the very finest known.
Ex: Jamie McConnell (August, 1972). Envelope Included.(Registry values: P4) (#6860)

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