1796 Liberty Cap Half Cent. C-2. Rarity-4+. With Pole. Good-6 (PCGS). A remarkably attractive coin for the assigned grade, and a desirable circulated example of this legendary early half cent. Both sides are originally toned in deep steely copper-brown. The surfaces are impressively smooth in hand, especially for having seen such extensive commercial use, and there really are no distracting marks. Close inspection with a loupe reveals a touch of fine granularity, easily forgiven for a Liberty Cap half cent at this grade level. The central reverse is largely devoid of detail, but the persistent viewer will still discern most of the denomination HALF CENT. All other major design elements are boldly outlined and readily evident. A very shallow straight planchet clip (as made) is noted at 7 oclock relative to the obverse.<p>With only 140 or so coins extant in all grades (per Bill Eckberg, 2019), the 1796 is the rarest date in the entire half cent series of 1793 to 1857. Most survivors are from the C-2 dies, as here, examples of which have been honored rarities ever since numismatics became widely popular in the 1850s. Since then the appearance of a 1796 has been a special occasion.<p>Although not as rare as its C-1 No Pole counterpart, the 1796 C-2 is still very scarce. Perhaps surprisingly for such an elusive variety, there are several Mint State coins known, including at least three Gem Red and Brown coins. One of these, the D. Brent Pogue specimen in PCGS MS-66 RB, realized $470,000 as lot 3009 in our February 2016 sale. Another is the PCGS MS-65+ RB from the Missouri Cabinet, which sold for an extraordinary $718,750 in Larry & Ira Goldbergs January 2014 sale of that collection. Beyond the handful of Mint State coins, however, the census for this variety quickly drops to the lowest circulated grades, and individual coins at those levels are usually dark and porous. Our offering of this uncommonly attractive and well defined Good-6 example represents an important bidding opportunity.<p>Planchet stock for this variety was derived largely from rolled sheet copper, and at least two of the survivors have Mint-made planchet clips. Whether the C-1 or C-2 was struck first remains a matter of debate, although we believe that the No Pole (C-1) with its cracked obverse die was produced first and used as a stopgap measure, until the well made obverse of the C-2 pairing was ready for coinage. Opinions differ, however, with Bill Eckberg, for one, asserting that the C-2 coins were produced in April and June, 1796, with the C-1 coins following in October of that year. PCGS# 1027. From the Abernathy Collection.
