1796 Draped Bust Half Dollar. Small Eagle. O-102, T-2. Rarity-5. 16 Stars. VF-25 (PCGS).We are pleased to be offering an example of each of the major varieties in the brief Draped Bust, Small Eagle half dollar series of 1796 to 1797 in the current installment of the fabulous E. Horatio Morgan Collection: 1796 15 Stars; 1796 16 Stars; and 1797 (both die marriages). The 1796 16 Stars highlighted here is a handsome, richly original coin toned in a base of warm antique silver patina. Both sides are further enhanced by splashes of bolder charcoal-gray, golden-olive and, to a lesser extent, reddish-apricot toning. The strike is ideally centered on the planchet, the borders fully and uniformly denticulated around both the obverse and reverse. All devices are fully outlined in the presence of moderate wear, sharper detail remaining in the more protected areas of the design. Uncommonly smooth for the assigned grade with appreciable luster evident as the surfaces dip into a light, this is an upper end VF worthy of a premium bid. Tompkins Die Stage 5/1.Although comprised of coins dated 1796 and 1797, the Draped Bust, Small Eagle half dollar series was issued for just one year. A mere 3,918 examples were delivered in four warrants from February 28 to May 26, 1797. Today, probably no more than 250 to 300 half dollars of this brief and challenging design type can be accounted for, signifying a survival rate of less than 10%. Subsequent to 1797 no half dollars were minted until 1801, at which time the Heraldic Eagle design was adopted for the reverse. The 1796 O-102 variety is the scarcest in this series with Very Fine, as here, representing the median grade among survivors. A significant and desirable coin that would do equally well in an advanced type collection or specialized early half dollar variety set.From the E. Horatio Morgan Collection. Earlier ex Superiors Buddy Ebsen Collection sale, May-June 1987, lot 1322. Clipped lot tag included.
