1796 Draped Bust Half Dollar. Small Eagle. O-102, T-2. Rarity-5+. 16 Stars. VG Details--Plugged (PCGS). There is plenty of bold detail remaining on both sides of this coin which should please advanced type collectors. All major design elements are fully outlined, in fact, the border denticulation is complete save for minor softness along the upper obverse and at 1 oclock on the reverse. Predominantly light golden-gray, there are warmer olive and russet highlights around the peripheries, especially on the obverse. The surfaces are glossy in texture and microscopically pitted, a few moderate size marks over and around the eagle are mentioned for accuracy. The PCGS qualifier concerns a neatly executed plug and associated re-engraving at the letter E in LIBERTY. Tompkins Die Stage 4/2.Although composed of coins dated 1796 and 1797, the Draped Bust, Small Eagle half dollar series was issued for just one year. Only 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 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 most survivors well worn, as here. Of course, the brevity and scarcity of this design type assures that all examples of this die marriage are eagerly sought by type collectors as well as early half dollar specialists.
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