1796 1/2 C NO POLE, BN

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Sold on Feb 10, 2000 for:

$47,150.00 Bid Source: Live: Floor bidder

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Description

Uncommonly Attractive 1796 No Pole Half Cent, A Legendary Rarity in U.S. Numismatics

1796 1/2 C No Pole Fine 15 PCGS. B-1a, C-1, R.6. On October 14, 1796, the Philadelphia Mint coined 1,390 half cents and delivered them for public distribution ten days later. These are the only 1796-dated half cents produced since the balance of the 114,090 half cents struck earlier in the year bore the date 1795. While we do not know the exact breakdown between the two 1796-dated die marriages, we do know that representatives of the No Pole variety are undeniably rarer than their already elusive With Pole counterparts. Walter Breen (1983) estimates that about 20 specimens of the No Pole variety are extant today, many of which display heavy wear and/or porosity. All known examples were struck on rolled copper planchets, although Cohen claims to have examined specimens that had been struck on cut down large cents. As such, Breen has designated the rolled copper planchet pieces as B.1a and left the B.1b designation open in the event that examples struck on cut down large cents surface at a future date.
In his Encyclopedia of United States Half Cents, Walter Breen listed 3 Uncirculated, 1 Very Fine, 2 Fine, and 6 Very Good examples in his Condition Census for this die variety, some of which may be duplicates. After careful research, we feel confident in concluding that the present specimen does not fit the description of the coins owned at one time by Mrs. R. Henry Norweb (graded About Very Fine by Breen), Ellis Robison (graded Fine by Breen), Hon. George M. Parsons (graded Very Good by Breen), or Henry C. Kingman (graded Very Good by Breen). Either this is the Fine specimen that appeared as lot 596 in Lester Merkin's sale of the Blaise J. Dantone Collection in March, 1969 or it is a newcomer to the Condition Census.
Regardless of this particular coin's pedigree, there can be little doubt that its appearance in this auction is an occasion of particular pride for us. This is the first 1796 No Pole half cent that we have handled in several years and it is much nicer than the VF 20 Porous example that realized $12,075 as lot 8087 in our 1997 ANA Signature Sale. Both sides of this coin show smooth chocolate-brown coloration that is slightly deeper on the reverse. There is some pitting on Liberty's portrait and scattered corrosion is noticed about the obverse devices, but we stress that this coin is extremely attractive for the issue. Both the rims and the surfaces are free of sizeable circulation marks and the remaining definition is rather sharp for the median circulated grade. The bisecting obverse die crack is well developed and suggests that this coin is a later die state. A legendary rarity among early copper issues, we anticipate that this lovely coin will inspire spirited bidding when it comes up for auction.

Coin Index Numbers: (PCGS# 1030, Greysheet# 450)

Weight: 6.74 grams

Metal: 100% Copper

View Certification Details from PCGS