Skip to main content
Go to accessibility notice

    Description

    1796 Capped Bust Right Eagle, AU50
    Low-Mintage Early Gold Issue
    BD-1, Only Dies for the Date

    1796 $10 BD-1, R.4, AU50 NGC. Bass-Dannreuther Die State c/b. With a recorded mintage of 4,146 pieces, the 1796 Capped Bust Right eagle is a scarce date in all grades. The actual total of coins dated 1796 is open to question, as die state evidence suggests some of the 1796-dated coins were struck in 1797, after the 1797 Small Eagle coins. John Dannreuther estimates the original mintage of 1796-dated eagles as 3,500-4,146 pieces, with a surviving population of 125-175 examples in all grades.

    Only one die variety is known for the date, featuring 16 obverse stars and 11 leaves on the reverse branch. Since Tennessee was admitted as the 16th state on June 1, 1796, we can be relatively certain all these coins were minted after that date. The number of leaves on the branch may have been an attempt at aesthetic balance between the crowded 13 leaves designs and the famous nine leaves type, both employed in 1795.

    The small mintage produced many coins with prooflike surfaces, and early numismatists often confused the coins with proofs. The term proof was used inexactly during the early days of the hobby, often referring to a coin's condition rather than its method of manufacture. Some knowledgeable catalogers were careful to make the distinction, but for many collectors anything shiny was deemed a proof. The situation is illustrated by an early appearance in the Sixth Semi-Annual Sale (Woodward, 3/1865), lot 2735, "1796 Perfectly uncirculated; the rev. surface proof; obv. scarcely less fine; very rare." Woodward seems to have straddled the issue here. He accurately evaluated the coin as an Uncirculated specimen, but he also incorrectly used the proof terminology to describe the coin's condition.

    The present coin is an attractive AU specimen showing only light wear in areas like the eagle's head and breast. The pleasing greenish-gold surfaces retain much of their reflective, prooflike quality. A planchet flaw in the left obverse field and a scattering of minor abrasions on both sides are consistent with the grade. Census: 4 in 50, 56 finer (7/20).
    From The James Dines "Original Goldbug" Collection.

    Coin Index Numbers: (Variety PCGS# 45715, Base PCGS# 8554)

    Weight: 17.50 grams

    Metal: 91.67% Gold, 8.33% Copper


    View all of [The James Dines "Original Goldbug" Collection ]

    View Certification Details from NGC

    Auction Info

    Auction Dates
    September, 2020
    18th-20th Friday-Sunday
    Bids + Registered Phone Bidders: 21
    Lot Tracking Activity: N/A
    Page Views: 819

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) per lot.

    Sold on Sep 18, 2020 for: Sign-in or Join (free & quick)
    Track Item

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Only 20 days left to consign to the 2021 September 29 - October 3 Long Beach Expo US Coins Signature Auction - Long Beach!

    Learn about consigning with us

    Heritage did everything splendidly to ensure that the coins would bring the best prices possible in the public market.
    [ Entire Letter » ]
    Museum of Connecticut History of Hartford, CT,
    Hartford, CT
    View More Testimonials

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    Video tutorial

    Getting the most out of search