1796 $10 MS(PCGS#8554)

November 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3145

Grade

MS62

Price

264,000

Lot Description

BD Die State c/b. A phenomenal example of this more elusive early $10 eagle issue that ranks among the finest available to today's advanced collectors. Exceptionally well struck, as sharp as any 1796 eagle we have seen, with more than usual detail at the extreme central obverse and especially bold detail on the eagle. When have we seen another 1796 eagle that showed some of the feathers on the eagle's neck? Never perhaps, which makes this coin special indeed. The breast is nearly fully struck, again as nice as any specimen in existence. Even yellow-gold with halos of deeper reddish-gold toning around legends and devices. Somewhat reflective in the fields and retaining much of its original luster, though the fields on both sides show a substantial smattering of tiny natural planchet chips, as struck and not affecting the grade. Very few marks, hairlines, or post-striking flaws are noted - in large part a byproduct of the safe storage of this piece in Omaha from the time of Byron Reed's death in 1891, shortly after his active participation in the famous 1890 Lorin G. Parmelee sale.<p>This is a scarce early eagle, not as rare as the 1797 Small Eagle, but appreciably scarcer than the first year 1795. The 1796 is also highly significant to those who study and collect die varieties and die states of early eagles. It is the first eagle that displays 16 stars on the obverse. Clearly the only known obverse die of this issue was prepared after Tennessee's admission to the Union as the 16th state on June 1, 1796. The reverse die is also significant due to its introduction of 11 leaves or fronds on the palm branch, likely the culmination of experimentation on the part of Mint personnel that began with the use of 13 leaves on most reverse dies of the 1795-dated issue and also saw the creation of the famous and scarce 1795 BD-3 9 Leaves variety. This reverse die would finish the Small Eagle series with its use in both the 1796- and 1797-dated issues. Finally, the 1796 as an issue is significant to variety specialists because it includes the first confirmed remarriage in the early eagle series. At least one 1796 eagle is known in BD Die State d/c, the reverse with a crack from the border through the right side of the letter O in OF to the wreath. Since this reverse also was used to strike all known 1797 Small Eagle tens, all confirmed examples of which do not display this crack, clearly some 1796-dated coins were struck after the 1797 Small Eagle pieces. The often-seen prominent obverse die crack on the 1797 Small Eagle coins likely resulted in the demise of that die and the brief return of the 1796-dated obverse to production.<p>This premium quality 1796 is ranked #2 in the list of "Significant Specimens" for the issue in Anthony J. Taraszka's book <em>United States Ten Dollar Gold Eagles: 1795-1804</em>. It hold tremendous appeal for advanced type collectors and dedicated early eagle variety specialists, and is worthy of the strongest bids.