The Tenth will be precisely the Spanish Bit, or half pistareen. This is a coin perfectly familiar to us all. When we shall make a new coin then equal in value to this, it will be of ready estimate with the people. — Thomas Jefferson, 1784The finest example of a coin may not always be the prettiest, but this Superb Gem JR-4 1796 dime is almost certainly both. The toning is a patchwork quilt of color: gold and sea-green, pastel blue and rose, violet and amber, all over bright silver gray. The obverse is more variegated than the reverse, but both sides are simply, utterly, beautiful. The detail is phenomenal for the issue, from the essentially complete denticles at the borders, through the well-defined stars, to the complete central devices. Both sides are reflective and fully lustrous. The obverse shows some light strike doubling in peripheral elements, and both sides show two crisp impressions of die clashes that befell this die marriage before this coin was produced. A short die crack joins star 1 to the rim, and another extends from the tip of the highest leaf on the right side of the reverse wreath. As would be imagined at this grade level, this coin is wholly original in appearance and free of notable defects. A thorough examination finds a minor nick on D in UNITED and an even more minute mark above Libertys hair bow.As a class, considering all varieties, 1796 dimes are not as rare in Mint State as many other coins of their generation. Perhaps many were saved as relatively inexpensive souvenirs or novelties. Most of the Mint State 1796 dimes, however, are from the JR-1 die pair. In large part, he grading services dont break down variety data, but the authors of Early United States Dimes 1796-1837 (the JR book) suggest that 40 to 45% of all 1796 dimes are from the JR-1 marriage, and that variety represents at least an equal proportion of the Mint State 1796 dimes extant, perhaps even more than half. The JR book suggests that the presently-offered variety, the JR-4 pairing, makes up just 10% of all 1796 dimes, an approximation that sounds fairly accurate by our accounting. Somewhere fewer than 200 survive in all grades, a number that likewise aligns well with the JR books suggested mintage figure of 2,750 from these dies, the entire delivery of newly struck dimes to the Mint treasurer on April 9, 1796.There are only two contenders for the title of finest known from these dies: this coin, the Jimmy Hayes-Foxfire-D. Brent Pogue coin, graded MS-66+ (PCGS), and the James A. Stack-Ed Price coin, graded MS-66 (PCGS) when sold in 2003 and later graded MS-66* (NGC) when it brought $299,000 in the July 2008 Ed Price sale. Among 1796 dimes of all varieties, PCGS CoinFacts places the D. Brent Pogue coin third, ranked behind the Empire-Hayes-Whitney-Gene Gardner JR-1 (graded MS-67 by PCGS) and the sole PCGS MS-68, a JR-6 that sold for $793,125 in August 2014.This example, with its illustrious provenance and long list of remarkable characteristics, would be an impressive property even in the absence of other coins, securely among the very finest surviving examples of the first dime struck for circulation. In the hands of an advanced connoisseur, this would be an extraordinary centerpiece for a world-class type set or specialized dime collection.
