💰 1796 Draped Bust Silver Dollar (Small Date, Large Letters, Small Eagle): A $110,000+ Rarity from America’s Early Mint

How Tiny Design Variations Create Massive Value

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🏛️ Historical Significance

The 1796 Draped Bust Silver Dollar marks a pivotal moment in U.S. coinage, bridging the gap between the Flowing Hair and later Draped Bust designs. The Small Date, Large Letters, Small Eagle variety is one of the rarest and most sought-after early dollars, with only 100–150 examples surviving across all grades. Its unique features reflect the U.S. Mint’s experimentation during a time of limited resources and evolving artistry.

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🔍 Key Identification Features

Obverse (Front):

• Small Date: The “1” in “1796” is thinner and shorter than standard varieties.
• Wide Spacing: Noticeable gap between the top bars of “1” and “7” in the date.
• Draped Bust: Liberty’s portrait faces right, draped in a gown, with 15 stars (13 colonies + Vermont and Kentucky).

Reverse (Back):

• Large Letters: “UNITED STATES OF AMERICA” is boldly inscribed, extending closer to the coin’s rim.
• Small Eagle: A petite, naturalistic eagle (later replaced by the heraldic eagle in 1798).

Edge Lettering: “HUNDRED CENTS ONE DOLLAR OR UNIT” (hand-punched).
Composition: 89.2% silver, 10.8% copper.
Weight: 26.96 grams (0.773 oz of silver).

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💎 Market Value by Condition (2024 Estimates)

Grade	Description	Value Range
Good (G-4)	Heavy wear, date visible	5,000–5,000–10,000
Very Fine (VF-20)	Moderate wear, details intact	15,000–15,000–30,000
Extremely Fine (XF-40)	Light wear, sharp features	40,000–40,000–75,000
Mint State (MS-60+)	Original luster, minimal marks	75,000–75,000–250,000+

Recent Sales:

• $110,970: 1796 Small Date, Large Letters graded PCGS XF-40 (2021 auction).
• $264,000: A higher-grade example (NGC MS-61) sold privately in 2023.

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📜 Why This Variety Is Rare

• Low Mintage: Only ~1,000–2,000 struck in 1796.
• Survival Rate: Most coins circulated heavily or were melted for silver.
• Design Transition: The Small Eagle reverse was quickly replaced, making this a short-lived type.

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⚠️ Authentication Tips

1. Compare to Known Examples: Use reference books like “Early Dollars of the United States” by Q. David Bowers.
2. Edge Inspection: Genuine coins have irregular, hand-punched lettering.
3. Weight & Magnet Test: Must weigh ~26.96g and be non-magnetic.
4. Grading Certification: Only PCGS or NGC slabs guarantee authenticity.

Red Flags:

• Tooling Marks: Altered dates or added details on counterfeits.
• Modern Strikes: Fake “1796” dollars often have overly sharp details or artificial toning.

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📈 Market Trends

• Registry Demand: Needed for elite Draped Bust dollar collections.
• Auction Potential: High-grade examples (MS-60+) could reach $300,000+ in today’s market.
• Historical Pedigree: Coins tied to famous collections (e.g., Eliasberg, Pogue) fetch premiums.

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🛠️ How to Sell Your 1796 Dollar

1. Grading is Essential: Submit to PCGS/NGC (300–300–500 fee).
2. Auction Houses:
   • Stack’s Bowers or Heritage Auctions for global exposure.
3. Avoid Scams: Verify buyers via the Professional Numismatists Guild (PNG).

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📚 Learn More on PennyVerse.info

• Free Guide: Download our “Early U.S. Dollar Checklist”.
• Expert Help: Post photos in our Forum for free evaluations.

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#CoinCollecting #DrapedBust #RareCoins
💬 Found a 1796 treasure? Our community will help you unlock its value—no myths, just expertise.

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Because every coin tells a story – especially those struck in America’s infancy.

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PS: That “1796 dollar in your drawer”? 99.9% fake. For the 0.1% chance, contact PCGS/NGC – you might join the $250,000 club! 🏆

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