1796 Draped Bust Half Dollar. Small Eagle. O-101, T-1. Rarity-5-. 15 Stars. AU-55 (NGC). Amato-114. A truly exceptional survivor of this famed Small Eagle type. Light golden iridescence at the centers is framed by deep bronze and steel blue toning at the rims. Considerable satin luster remains in the protected areas and the strike is remarkably sharp. Scattered old marks are noted under glass and the eye appeal is very strong in-hand. Mint-made adjustment marks are noted throughout, including prominent file lines around L of LIBERTY and near the portraits ear. Small blemishes are seen under Libertys chin and behind her hair ribbons. An old pinscratch at Libertys bust has long worn into the patina. The reverse is particularly pristine, with just a minor mark noted outside the left wingtip. Traced back to Catherine Bullowas sale of January 2007, this is a particularly desirable example. It sits just outside of the Condition Census for the variety and only 5 coins have been graded finer by NGC in this category. <p>The half dollars that the United States Mint delivered in 1797 differed from those of 1794 and 1795. In late 1796 Mint personnel adopted Robert Scots Draped Bust, Small Eagle design that had already been used on 1795-dated silver dollars for use on the half dollar. The delivery of 1797 amounted to just 3,918 pieces, 1,934 or so examples having been struck from one of two 1796-dated obverse dies. Surprisingly for a denomination that otherwise proved extremely popular with contemporary bullion depositors, no more half dollars were ordered until 1801, at which time the Heraldic Eagle variant of the Draped Bust type became current. The Draped Bust, Small Eagle half dollar, therefore, became an instant numismatic rarity - a two-year type with a combined mintage of just 3,918 pieces. Survivors of both dates are scarce to rare in all grades, and they never fail to cause a stir among advanced collectors when they appear at auction. Ex Catherine Bullowas (Coinhunter) sale of January 2007, lot 295; Heritages sale of May 2008, lot 493.
