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Lot 914
1796. No stars on obverse,
Breen-1, R-4. PCGS graded AU-55. A stellar example of this first
year and type of issue, struck during the Winter months of 1796. We note decent
luster in the fields, and there are some trivial adjustment marks on the
obverse rim, mostly on the right side, but a few are present in her hair.
Unusually well struck for the issue, with a full E on LIBERTY, which is often
weak as that letter is located just behind the eagle's broad and deeply
engraved tail. A similar situation occurred on 1805 quarters, where the similar
design produced a notoriously weak E or R on LIBERTY. This one is sharply
struck, as stated, with excellent details on Liberty's curls, and the reverse
is totally sharp and without a sign of weakness. Identifiable by a small pit in
the right obverse field, midway between Liberty's neck and the rim and a thin
scratch from the back of Liberty's head to the rim left of the L. Toned a rich
light gold color on both sides. Philadelphia Mint records indicated a grand
total of 963 of these were produced before the stars were added to the obverse.
Naturally, few survive in top grades, and this one is certainly a memorable
offering. PCGS has graded 21 this high, with 27 a notch higher in AU-58, then
the numbers fall off the map, with just 3 graded as MS-61, 1 in MS-62 and a
sole MS-65 sitting atop the grading mountain all by itself. A crowning
achievement for a collector to obtain, and worthy of the finest collection in
the land.
Estimated Value $50,000-UP.
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