The 1796 Liberty Cap Half Cent, a cornerstone for collectors, recently garnered significant attention by achieving a remarkable auction price of $230,000. This coin’s allure stems from its historical significance, limited mintage, and exceptional condition.
Historical Significance
Minted in 1796, the Liberty Cap Half Cent features Lady Liberty facing right, adorned with a cap and pole a design attributed to Robert Scot. This coin represents the early efforts of the U.S. Mint to establish a national identity through its currency.
Mintage and Rarity
The 1796 Half Cent had an exceptionally low mintage, with only 1,390 coins produced. This scarcity is further accentuated by two distinct varieties: “With Pole” and “No Pole.” The “With Pole” variant is particularly rare, making it a prized possession among numismatists.
Design Varieties
The “With Pole” variety displays a pole supporting the cap on Liberty’s shoulder, while the “No Pole” variety omits this feature. These subtle design differences significantly impact the coin’s rarity and value.
Condition and Grading
The coin’s condition plays a pivotal role in its valuation. Graded on a scale from 1 to 70, higher grades indicate better preservation. The 1796 Liberty Cap Half Cent that fetched $230,000 was graded MS66+ Red and Brown by the Professional Coin Grading Service (PCGS), denoting a near-flawless state with original mint luster.
Auction Highlights
In August 2018, Heritage Auctions featured this exceptional coin in their Platinum Night auction during the American Numismatic Association’s World’s Fair of Money. Its impeccable condition and historical importance contributed to its impressive $230,000 sale price.
Comparison with Other Sales
Other notable sales include a 1796 Liberty Cap Half Cent graded MS64+ Red and Brown by PCGS, which sold for $303,750 in September 2023. These figures underscore the coin’s escalating value in the numismatic market.
Investment Potential
The 1796 Liberty Cap Half Cent is not only a collector’s gem but also a sound investment. Its rarity, historical context, and condition make it a valuable asset that appreciates over time.
Preservation Tips
To maintain the coin’s value, proper storage is essential. Utilizing protective holders and storing in a climate-controlled environment can prevent deterioration and preserve its condition.
Key Details of the 1796 Liberty Cap Half Cent
| Feature | Description |
|---|---|
| Year of Minting | 1796 |
| Design | Liberty facing right with cap and pole (With Pole variety) |
| Designer | Robert Scot |
| Mintage | 1,390 coins |
| Varieties | With Pole, No Pole |
| Material | 100% Copper |
| Diameter | 23.5 mm |
| Weight | 6.74 grams |
| Edge | Plain |
| Notable Sale | $230,000 in August 2018 (MS66+ Red and Brown) |
FAQs
What makes the 1796 Liberty Cap Half Cent so valuable?
Its low mintage, historical significance, and condition contribute to its high value.
How can I determine the value of my 1796 Half Cent?
Consulting with professional grading services like PCGS or NGC can provide an accurate assessment.
What are the distinguishing features of the “With Pole” variety?
The “With Pole” variety includes a pole supporting the cap on Liberty’s shoulder, absent in the “No Pole” variety.
How should I store my 1796 Half Cent to preserve its condition?
Store it in a protective holder within a climate-controlled environment to prevent damage.
Where can I find reputable dealers or auctions for rare coins?
Platforms like Heritage Auctions and Stack’s Bowers are renowned for handling rare coin transactions.
The 1796 Liberty Cap Half Cent remains a testament to early American coinage, captivating collectors and investors alike with its rich history and enduring value.
