Estimated grade. Sold by B. Max Mehl Jun '41 price realized $10.5
The 1796 Half Dime is the first year of the Draped Bust design type. It is a scarce date that it is at least as rare, if not more rare, than the 1794. Very few Mint State examples are known, the most notable of which is a single MS67 example that was first certified by PCGS in late 1989. The unusual "LIKERTY" variety was not a spelling error -- the "K" is actually a broken "B." The only other variety of this year is an overdate: 1796 over 5.
Valentine 1 - "LIKERTY" - Scarce
Valentine 2 - 1796/5 - Very Rare
Sources and/or recommended reading:
"Federal Half Dimes 1792-1837" by Russell J. Logan and John W. McCloskey
Texas Collection - Christies 5/1989:98, $198,000 - Knoxville Collection - Jay Parrino (The Mint) - D. Brent Pogue Collection - Stack’s/Bowers & Sotheby’s 5/2015:1005, $411,250
R.L. Miles Collection - Stack’s 5/1969:390, $2,700 - Lelan Rogers Collection, sold privately in 7/1995 - Foxfire Collection (Claude E. Davis, MD), sold privately (as an entire collection) on 10/5/2004 - D. Brent Pogue Colllection - Stack’s/Bowers & Sotheby’s 5/2015:1006, $94,000