LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

2656

1796 1/2 C With Pole--Corroded--NCS. Fine 12

Currency:USD Category:Coins & Paper Money Start Price:13,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1/2 C With Pole--Corroded--NCS. Fine 12
<B>1796 1/2 C With Pole--Corroded--NCS. Fine 12 Details.</B></I> C-2, B-2, R.4. On November 24, 1796, Nicholas Way submitted a statement of the value of copper coins issued from the commencement of the Mint, to the day of his report. From January 1 to March 31, 1796, the Mint issued 109,000 half cents; from April 1 to June 30, the total was 5,090 pieces; and from July 1 to November 24, the total was 1,390 pieces. <BR> Today, it is believed that only the last amount, 1,390 coins, was the mintage of those pieces actually dated 1796. However, the old 3% survival rule created by Walter Breen would only yield a little over 40 survivors for both varieties. Alternatively, the total for the last three quarters of the year, 6,480 coins, would yield about the right number of survivors at a 3% rate; about 195 coins. Another scenario is a much higher survival rate, say 10% or 139 survivors, also well within current rarity ratings.<BR> This piece has smooth, lightly corroded deep olive surfaces with hints of steel and tan on both sides. A small scrape is evident over the first S in STATES, but otherwise the surfaces are free of problems. EAC 6.<BR><BR><B>Coin Engraver:</B> John Smith Gardner<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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