💰 1796 Draped Bust Dollar (Small Date, Small Letters): A $705,000 Rarity in Early U.S. Coinage

How Condition Transforms a Common Variety into a Numismatic Treasure

---

🏛️ Historical Significance

The 1796 Draped Bust Dollar is a cornerstone of early American numismatics, minted just three years after the U.S. Mint began operations. As part of the Draped Bust series (1795–1804), this coin reflects the young nation’s struggle to establish a stable monetary system. The Small Date, Small Letters variety, while the most common of the 1796 issues, is exceedingly rare in high grades due to heavy circulation in the late 18th century. Only 10–15 examples survive in mint state, with even fewer achieving top-tier grades.

---

🔍 Design & Key Identifiers

• Designer: Robert Scot, the first Chief Engraver of the U.S. Mint.
• Obverse: Draped Bust of Liberty with flowing hair, surrounded by 15 stars (representing the states in the Union).
• Reverse: A small eagle encircled by a wreath, with the inscription “UNITED STATES OF AMERICA.”
• Variety Features:
  • Small Date: Tiny numerals in the “1796” date.
  • Small Letters: Reduced font size for “LIBERTY” and “UNITED STATES.”
• Composition: 89.2% silver, 10.8% copper.
• Weight: 26.96 grams (0.773 oz of silver).

---

💎 Market Value by Condition (2024 Estimates)

Grade	Description	Value Range
Good (G-4)	Heavy wear, date visible	15,000–15,000–30,000
Very Fine (VF-20)	Moderate wear, details intact	40,000–40,000–80,000
Extremely Fine (EF-40)	Light wear, sharp features	100,000–100,000–200,000
Mint State (MS-65)	Near-perfect, original luster	500,000–500,000–1M+

Recent Sales:

• $705,000: 1796 Small Date, Small Letters graded PCGS MS-65 (2020 auction).
• $46,000: Same variety graded EF-40 (2003 auction).

---

📜 Why High-Grade Examples Are Rare

• Circulation Era: Most 1796 dollars were used in daily trade, leading to heavy wear.
• Survival Bias: Few were saved by collectors; survivors often show cleaning or damage.
• Die Deterioration: Weak strikes and die cracks plague even well-preserved examples.

---

⚠️ Authentication Tips

1. Compare to Known Varieties: Use reference books like “Early U.S. Silver Dollars” by Q. David Bowers.
2. Edge Lettering: Authentic coins have “HUNDRED CENTS ONE DOLLAR OR UNIT” on the edge.
3. Weight & Magnet Test: Must weigh ~26.96g and be non-magnetic.
4. Grading Matters: Only PCGS or NGC certifications guarantee authenticity and condition.

Red Flags:

• Tooling Marks: Altered dates or added details on counterfeits.
• Artificial Toning: Genuine coins have natural, mellow patina.

---

📈 Market Trends & Collector Demand

• Registry Sets: Elite collectors compete for high-grade examples to complete Draped Bust collections.
• Auction Potential: An MS-65+ example could fetch $1.5M+ today, driven by demand for “finest known” coins.
• Historical Pedigree: Coins tied to famous collections (e.g., Eliasberg, Norweb) command premiums.

---

🛠️ How to Sell Your 1796 Dollar

1. Grading is Essential: Submit to PCGS/NGC (300–300–500 fee for high-value coins).
2. Auction Houses:
   • Stack’s Bowers or Heritage Auctions for曝光 and competitive bidding.
   • Private Treaty Sales: For ultra-high-value coins ($1M+).
3. Provenance: Document ownership history to maximize value.

---

📚 Learn More on PennyVerse.info

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

---

#CoinCollecting #DrapedBust #RareCoins
💬 Think you’ve found a 1796 treasure? Our community will help you verify—no myths, just expertise.

---

PennyVerse.info – Trusted by Collectors Since 2010 🏛️🔍
Because every coin tells a story – especially those struck in America’s infancy.

---

PS: That “1796 dollar in your drawer”? 99.9% fake. For the 0.1% chance, contact PCGS/NGC – you might join the $700,000 club! 🏆

---