1796 Capped Bust Right Eagle. BD-1, Taraszka-6, the only known dies. Rarity-4. AU-55 (NGC).This is a lovely example of one of the more numismatically significant die pairings in the early eagle series. Boldly to sharply defined throughout, both sides also offer handsome patina and traces of original mint luster. Desirable in all regards, and eagerly awaiting inclusion in an advanced gold type set or specialized collection of Capped Bust Right gold coinage.pThe 1796 is a scarce early eagle, not as rare as the 1797 Small Eagle, but appreciably scarcer than the first year 1795. The 1796 is also a highly significant issue among those who study and collect die varieties and die states of early eagles. It is the first eagle that displays 16 stars on the obverse. Clearly the only known obverse die of this issue was prepared after Tennessees admission to the Union as the 16th state on June 1, 1796. The reverse die is also significant due to its introduction of 11 leaves or fronds on the palm branch, likely the culmination of experimentation on the part of Mint personnel that began with the use of 13 leaves on most reverse dies of the 1795-dated issue and also saw the creation of the famous and scarce 1795 BD-3 9 Leaves variety. This reverse die would finish the Small Eagle series with its use in both the 1796- and 1797-dated issues.pFinally, the 1796 as an issue is significant to variety specialists because it includes the first confirmed remarriage in the early eagle series. At least one 1796 eagle is known in BD Die State d/c, the reverse with a crack from the border through the right side of the letter O in OF to the wreath. Since this reverse also was used to strike all known 1797 Small Eagle tens, all confirmed examples of which do not display this crack, clearly some 1796-dated coins were struck after the 1797 Small Eagle pieces. The often-seen prominent obverse die crack on the 1797 Small Eagle coins likely resulted in the demise of that die and the brief return of the 1796-dated obverse to production.pThe mintage of ten-dollar gold eagles for calendar year 1796 is 4,146 coins, per Mint records. John W. Dannreuther (2006) estimates that 3,500 to 4,146 eagles were struck from the only known 1796-dated die pairing. The authors lower estimate allows for the likelihood that many 1795-dated eagles were delivered during calendar year 1796. Additionally, the existence of a single 1796 eagle in BD Die State d/c confirms that some 1796-dated coins were also struck in 1797. Dannreuther provides an estimate of 125 to 175 coins extant in all grades.pFor the advanced type collector seeking to avoid the more obtainable 1795, or the dedicated early eagle variety specialist, this inviting 1796 holds tremendous appeal and is worthy of the strongest bids.
