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1796 $10 BD-1

Image Information

Type Coin
Title 1796 $10 BD-1
Date 1796
Grade AU53
Service NGC
Service Catalog # 45715
Denomination $10

1796 $10 BD-1, R.4, AU53 NGC. Bass-Dannreuther Die State c/b. There are 11 leaves on the branch below the eagle and 16 obverse stars (8 left, 8 right) on the BD-1 eagle, which was struck after the June 1 admission of Tennessee to the United States. This example displays the most frequently encountered die stage, with a bisecting vertical crack that runs beneath E in LIBERTY through the portrait, ending at the bust edge above 9 in the date. With a reported mintage of 4,196 pieces, the 1796 Capped Bust Right eagle is considerably scarcer than the inaugural 1795 issue. The official mintage may be overstated, since early Mint records are often unclear. Dies were used interchangeably without regard to year as long as they were serviceable. Later die states of the 1796 eagle were clearly struck in 1797 -- a remarriage of the 1796 obverse with a late stage of the reverse, after the reverse die was used to strike 1797-dated coins. The Bass-Dannreuther reference estimates only 125 to 175 pieces exist, and suggests that as few as 3,500 1796-dated pieces were struck. We estimate only about four dozen pieces in About Uncirculated or finer conditions survive. The Eric P. Newman kraft envelope describes this coin as a "Perfect Unc. Gem," although some faint rub on the eagle, cap, and forecurl combine for the About Uncirculated designation by NGC. The grade seems a bit conservative, given the exceptional eye appeal, quality of the fields, and a lack of enumerative marks. The breast feathers are nearly complete. Minor incompleteness at the legs, neck, and shoulders of the eagle do not detract from the overall sharpness, nor do some faint parallel striations in the hair that are visible with a glass. Prooflike surface remains at the margins and surrounds the eagle. Beautiful Tuscan-gold color retains mint luster in protected areas, with reddish-orange highlights and dappled violet accents. This is a perfectly centered, original example with strong, unblemished rims and sharp dentils throughout both sides. Ex: "Colonel" E.H.R. Green; Green Estate via Hans M.F. Schulman 5/10/1944; Eric P. Newman @ $250.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15105, realized $78128.4. Images and description courtesy of Heritage Auctions.

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Image Collection Eric P. Newman Collection, Part IX
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