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1797 50C --Improperly Cleaned--NCS. AU Details. O-101a, High R.4. The appearance of a 1796-1797 Draped Bust Small Eagle half dollar at auction, even those that display impairments, is always the cause of excitement. This is because its two-year-type status makes it necessary for the completion of a type set of United States coinage. Early half dollar specialists attempting to assemble a date and/or variety collection place additional demand on this series. High demand and a paltry mintage of 3,918 pieces, followed by a relatively low survival rate, have all combined to maintain a relatively high value for 1796-1797 half dollars since the dawn of American coin collecting in the 1850s. Published estimates of the number of extant pieces range from about 100 to 300 examples, though recent empirical research has accounted, to date, for about 225 or so coins.

Four varieties of Draped Bust Small Eagle half dollars are known. The first 1796 variety (Overton 101) consists of 15 obverse stars. The star number on 1796-dated coins was eventually increased to 16 (Overton-102), apparently to commemorate Tennessee's June 21, 1796 admission to the Union as the 16th state. The two 1797 varieties (Overton-101 and Overton-102), each bearing 15 obverse stars, are differentiated by slight differences in the reverse wreath alignment vis-a-vis the peripheral lettering. The 1797 Overton-101 variety eventually developed extensive spindly die cracks on the reverse, resulting in an Overton-101a die state.

The 1797 AU Details specimen offered in this lot is Overton-101a. Fine hairlines on both sides are well concealed within the bluish-gray toning that is accented by occasional blushes of orange-gold and magenta, particularly on the obverse. The design elements exhibit sharp detail, and are nicely centered on the planchet. A few light obverse adjustment marks are visible. Each side reveals a mark or two that may aid in the pedigree of this coin, especially two light abrasions on the outer p (PCGS# 6060)
Auction 422 | Lot: 957 | Jan 6, 2007

Sold For: $92,000.00
1794 $1 B-1, BB-1, R.4--Environmental Damage--NCS. AU Details. (PCGS# 39972)
Auction 1121 | Lot: 3922 | Jan 11, 2009

Sold For: $74,750.00
1795 $10 9 Leaves--Improperly Cleaned--NCS. AU Details. Breen-6831, B. 4-C, Taraszka-3, R.6. The 1795 9 Leaves Ten Dollar is a rare issue that has attracted growing numismatic attention over the past 45 years. Some in the numismatic community believe this variety was not discovered until 1960 when a coin appeared in the New Netherlands "Cicero" Sale. However, it was apparently a known variety to Waldo Newcomer in 1926 who paid $100 for a VF example, well over the then-current price for a 1795 13 Leaves Eagle. The earliest published reference that we could find for the Nine Leaves variety was a coin in Edgar Adams article that he published in the May 1934 issue of Coin Collector's Journal entitled "Early United States Gold Coins: Eagles." However, it appears the variety was more or less forgotten until the 1960 sale.

Designed by Robert Scot, Walter Breen states that 116 pieces were struck on March 30, 1796, and an unknown (but presumably small) number had also been struck on March 1, 1796 on Warrant No. 58, which had a total mintage of 1,169 pieces. Robert Hilt believes that the Nine Leaves comprised a portion (he estimated 210 pieces) struck on Warrant No. 66 of June 21, 1796. According to Neil Berman and Silvano DiGenova, as published in the 11/2005 CDN Monthly, "There are 21 examples reported certified in all grades, which is undoubtedly many of the same coins being resubmitted to the grading services. I doubt there are even the fifteen [pieces] that Dannreuther seems to think survived." As such, it is the rarest Guide Book type among all early Tens, barely surpassing the 1798/7, 7x6 Stars.

When examining this piece, a ragged V-shaped die crack is seen below the leaves and another irregular break is seen through the first T in STATES. These are apparently common to most, if not all Nine Leaves coins, and their presence, which is less obvious on this piece than most examples seen by this cataloger (JRJ), indicates an early failure of the reverse die. This is (PCGS# 8552)
Auction 394 | Lot: 3520 | Jan 7, 2006

Sold For: $74,750.00
1794 $1 B-1, BB-1, R.4 -- Obverse Repaired -- NCS. XF Details. (PCGS# 39972)
Auction 1238 | Lot: 4151 | Aug 14, 2016

Sold For: $64,625.00
1797 50C -- Improperly Cleaned -- NCS. AU Details. O-101a, High R.4. Amato-408. (PCGS# 6060)
Auction 1188 | Lot: 5631 | Aug 10, 2013

Sold For: $64,625.00
1851 $50 LE Humbert Fifty Dollar, 880 Thous. 50 Rev.--Obverse Damage--NCS. AU Details. (PCGS# 10199)
Auction 1124 | Lot: 2795 | May 3, 2009

Sold For: $63,250.00
1802 10C AU Details, Scratched NCS. (PCGS# 4472)
Auction 1114 | Lot: 1429 | Aug 3, 2008

Sold For: $63,250.00
1878-S 50C -- Improperly Cleaned -- NCS. AU Details. WB-101, Die Pair 1. (PCGS# 6360)
Auction 1208 | Lot: 5585 | Aug 9, 2014

Sold For: $58,750.00
(1615-16) 6PENCE Sommer Islands Sixpence, Large Portholes--Bent, Corroded--NCS. AU Details. (PCGS# 5)
Auction 1108 | Lot: 1818 | Jun 2, 2008

Sold For: $43,125.00
1792 H10C Half Disme, Judd-7, Pollock-7, R.4--Repaired--NCS. AU Details. (PCGS# 11020)
Auction 1121 | Lot: 1502 | Jan 11, 2009

Sold For: $41,687.50
1795 $10 9 Leaves AU Details, Burnished, NCS. Breen-6831, B. 4-C, Taraszka-3, R.6. Only 116 pieces are theorized by Breen to have been struck of this rare variety, all in March of 1796. The extreme rarity of the 1795 Nine Leaves can best be understood when one views the reverse of this coin. A ragged V-shaped die crack is seen below the leaves and another irregular break is seen through the first T in STATES. These are apparently common to most, if not all Nine Leaves coins, and their presence, which is less obvious on this piece than most examples seen by this cataloger, indicates early failure of the reverse die. Clusters of tiny digs and scratches are seen on the obverse, mostly at 2 o'clock and 8 o'clock, although a few others are noticed to the right of the date. (PCGS# 8552)
Auction 372 | Lot: 8744 | May 7, 2005

Sold For: $40,250.00
1819 $5 Normal Dies -- Plugged, Whizzed -- NCS Details. AU. BD-3, Unique. (PCGS# 8123)
Auction 1208 | Lot: 5648 | Aug 9, 2014

Sold For: $38,187.50
1808 $2 1/2 --Reverse Planchet Flaw, Reverse Scratched--NCS. AU Details. Breen-6125, BD-1, R.4. Gold type collectors are wel... (PCGS# 7660)
Auction 434 | Lot: 2215 | May 10, 2007

Sold For: $34,500.00
1849 $5 Oregon Exchange Co. Five Dollar--Damaged--NCS. AU Details. (PCGS# 10288)
Auction 1121 | Lot: 4234 | Jan 11, 2009

Sold For: $27,600.00
1795 $10 13 Leaves--Scratched--NCS. AU Details. (PCGS# 8551)
Auction 1117 | Lot: 2196 | Oct 25, 2008

Sold For: $27,600.00
1855 $50 Wass Molitor Fifty Dollar--Rim Damage, Improperly Cleaned--NCS. AU Details. (PCGS# 10363)
Auction 1110 | Lot: 2440 | Jun 29, 2008

Sold For: $25,300.00
1851 $5 Shultz & Co. Five Dollar AU Details, Environmental Damage, NCS. Kagin-1, High R.6. The correct spelling was apparently Schultz, however, Shultz is often used. The coins themselves had SHULTS on the headband. To the best of our knowledge, this is the first time we have handled an example of this rare California gold issue, in any grade whatsoever. The rarity of this issue is due in part to their high gold content, which created extensive melting, much the same reason that pre-1834 United States half eagles are so rare today. Principals of the firm were Judge G.W. Schultz and William Thompson Garrett, and they originally operated a foundry within the establishment of coiners Baldwin and Company. Judge Schultz, of whom little is known, later aligned his firm with the banking business of Burgoyne & Co. and Argenti & Co. so that he may enter the coining trade. Donald Kagin mentioned that a single ingot is known with the names of both Argenti & Co. and Shults & Co. on opposite faces.

Although there have been discussions of both $5 and $10 pieces, only the five-dollar gold coins are known today. The number of surviving examples is not specifically known, but it is certainly extremely small. The generally accepted range is 10 to 12 pieces in all grades. The few known examples are known with or without a heavy reverse rim break from the right wing tip to the tops of GOL. Very few of these have been offered for sale at public auction. The most recent offering that we are aware of is an example in Pacific Coast's June 1987 sale.

This is a sharply defined greenish-gold example with moderate "salt-water" surfaces showing porosity and abrasions, but little or no actual wear. This is a splendid representative, with its design closely following that of the Federal half eagles. Listed on page 303 of the 2005 Guide Book.
From The Great Western Collection of Territorial Gold. (PCGS# 10316)
Auction 382 | Lot: 10470 | Jul 30, 2005

Sold For: $23,000.00
1796 25C AU Details, Repaired, NCS. B-2, R.3. The first-year 1796 is not only a low mintage issue with an original production of just 6,146 coins, but a one-year type that is always in demand at all levels of preservation. This is not a bad looking example despite the impairments. An area of tooling is reported in the right obverse field, possibly an attempt to remove scratches or initials. Some curious, charcoal-gray toning blankets both sides with brighter, yellow-gold undertones. The strike is sharp and well centered, some softness of detail over the eagle's head is noted for accuracy. There are no mentionable abrasions. We do, however, call attention to a few adjustment marks (as struck) on the reverse over the eagle's head and under his right wing. (PCGS# 5310)
Auction 346 | Lot: 6895 | May 8, 2004

Sold For: $23,000.00

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