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Description

Rarely Seen Uncirculated 1796 Ten Dollar

1796 $10 MS62 NGC. B. 1-A, Taraszka-6, R.4. Even though the mintage for the year was listed as 6,934 pieces, five deliveries in January and March were for 1795-dated coins, leaving a net output of only 4,146 eagles that were actually dated 1796. Apparently, the novelty of the new ten dollar coin had subsided significantly by 1796, enough to ensure that most examples of the 1796 entered circulation and stayed there. This date is much scarcer than the 1795 and was not saved in any appreciable numbers as the 1795 tens were. In fact, only 35-50 coins are believed extant today in all grades with a mere half a dozen or so pieces in Uncirculated condition. This issue has the added desirability among modern collectors as being the only 1795-1804 eagle with 8 stars left and 8 right.
This piece has bright prooflike fields and glittering green-gold coloration. The striking details are surprisingly sharp on each side. This coin appears to have been struck from a faulty planchet that had a number of gas bubbles that burst on the planchet's surface, leaving each side pocked with numerous planchet voids, which account for the grade. The pedigree for this coin is most easily established by the planchet flaw on Liberty's upper neck. Very rare in Uncirculated condition and worthy of serious consideration by the collector of early gold. Population: 2 in 62, 1 finer (11/03).
Ex: 1991 RARCOA Sale; Pre-Long Beach Sale (Superior, 2/00), lot 1174. (#8554) (Registry values: P6) (NGC ID# BFYM, PCGS# 8554)

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Auction Dates
January, 2004
7th-10th
Internet/Mail/Phone Bidders: 8
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