1796 10C JR-4, R.4, MS66+ PCGS. CAC....

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1796 JR-4 Dime, MS66+
Finest Known Example for the Variety
Ex: Stack-Price-Thomas-Morelan

1796 10C JR-4, R.4, MS66+ PCGS. CAC. Ex: Bender Collection. The key diagnostics for the JR-4 variety include star 1 distant from the lowest curl, and the leaf tip below right base of the A in STATES. The obverse has a faint crack from the rim to star 1, continuing through that star and faintly to the lowest hair curl. Another crack faintly connects stars 1, 2, and 3. The reverse has no evidence of clash marks or die lapping. A faint crack extends from the top right leaf below O toward the final S.

The 1796 Draped Bust dime famously serves as the first year of issue for the denomination. The quarter dollar was also introduced that year, while half dimes, half dollars, and dollars made their first appearance in 1794. A total of 22,135 1796 dimes were reportedly struck from seven different die marriages. An estimated 800 to 1,200 examples survive across all grade levels and including all varieties, most of them showing signs of extensive circulation. This high-end Premium Gem is easily the finest known JR-4 representative, although a few other Gem specimens exist, too.

We last had the pleasure of handling this extraordinary coin in 2009 as part of the Joseph C. Thomas Collection, prior to which it appeared in our sale of the Ed Price Collection. At that time, we published the following consignor commentary:

"This coin is spectacular. Although several high grade coins exist, this is the finest I have seen. Bolen's was described as Choice to Gem. I saw it and would grade it MS64 or possibly MS65. Eliasberg's was described as MS62/64. I also saw that coin and today would grade it MS64 or MS65. Lovejoy had a nice Uncirculated coin, but nothing special. The Garrett coin was called MS65, and is about equal to the Eliasberg specimen. James Stack had two examples, this coin and one that John Whitney purchased. In the James A. Stack sale, the Whitney coin sold for $28,600 while the present coin sold for $52,250. The marketplace agreed with my own belief that this piece is clearly the finest known 1796 JR-4 dime."

This is an amazing example of the JR-4 die combination in particular and the 1796 dime issue as a whole, surviving in nearly perfect preservation. Only a hint of central softness is evident, and a majority of the design elements are absolutely razor-sharp, including the date, which features a repunched 6. The centering is close to perfect, with full borders on both sides, only slightly narrower on the lower obverse and lower reverse. Strong magnification is required to see any of the tiny blemishes that prevent an even higher numerical grade. Both sides have fully reflective, prooflike fields around frosty devices, generating a splendid, if undesignated cameo appearance. The central obverse and reverse are light ivory and gray, with peripheral rainbow toning. At one time in the past, quality similar to this coin would have been described as "proof" or "specimen." Today, we call the coin prooflike Mint State, giving a nod to its special appearance. Population (all 1796 varieties): Population: 8 in 66 (2 in 66+), 1 finer. CAC: 5 in 66, 1 finer (9/22).
Ex: James A. Stack (Stack's, 1/1990), lot 2; Pre-Long Beach Auction (Goldberg Auctions,9/2003), lot 241; Ed Price Collection / ANA Signature (Heritage, 8/2008), lot 1411; Joseph C. Thomas Collection / Central States Signature (Heritage, 4/2009), lot 2208; unknown intermediaries; Bruce Morelan Collection (Legend Auctions, 10/2020), lot 7; FUN Signature (Heritage, 1/2021), lot 4005, where it sold for $288,000.
From The Bender Family Collection, Part II.

Coin Index Numbers: (NGC ID# 236B, Variety PCGS# 38745, Base PCGS# 4461, Greysheet# 213017)

Weight: 2.70 grams

Metal: 89.24% Silver, 10.76% Copper

View all of [The Bender Family Collection, Part II ]

View Certification Details from PCGS