The June 2011 Baltimore Auction

Pre-Bidding Ends: 6/15/2011 2:00:00 PM PST
Live Floor and Internet Bidding Begins: 6/15/2011 3:00:00 PM PST

Lot #2268. 1796 Draped Bust Dime. JR-6. Rarity-3. AU-50 (PCGS).

Very Sharp 1796 Draped Bust Dime
Description: A bold obverse die crack (as struck) that bisects the digits 17 in the date quickly identifies this obverse and, by extension, the 1796 JR-6 variety. Additional obverse cracks are evident from the border through the digit 9 in the date to Liberty's neck and from the border through star 8 into Liberty's hair. Reverse die cracks are most prominent between the letters ST in STATES to the eagle's neck and from the letter M in AMERICA to the eagle's breast. Closer inspection reveals a few additional reverse die cracks, and this coin clearly represents a late die state for the 1796 JR-6 marriage.
    The 1796 is the first regular issue United States dime and one of only two issues to display the Draped Bust, Small Eagle design type. The first examples were delivered on January 18, 1796, and production from 1796 dated dies seems to have continued into March of 1797, by which time 32,279 examples of the 1796 were produced. As with all early United States Mint silver coin issues, most 1796 dimes were struck from silver bullion deposited with the Mint, the depositors in these instances requesting that their product be coined into dimes. Some pieces also appear to have been used for presentation purposes, especially since high grade early strikes for this issue tend to come prooflike and otherwise display evidence of having been produced and handled with great care.
    There is a tremendous amount of detail to both sides of this coin, enough to suggest an AU-58 grade (if not an MS-60 or MS-61 designation). The strike is well balanced and razor sharp from the rims to the centers. More direct angles also call forth modest semi prooflike characteristics, a particularly desirable feature given the late state of the dies. While we see no distracting abrasions, accuracy does compel us to mention a somewhat glossy texture to the surfaces beneath blended olive-gold and sandy-silver toning. Obviously an important find for the high grade type collector, this coin would serve equally well in an AU set as well as a collection comprised predominantly of Mint State coins.

PCGS# 4461.


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