1796 $2.50 No Stars
1797 $2.50

1796 $2.50 Stars (Regular Strike)

Series: Draped Bust $2 1/2 1796-1807

PCGS MS65

PCGS MS65

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PCGS MS63+

PCGS MS63+

PCGS MS62+

PCGS MS62+

PCGS #:
7647
Designer:
Robert Scot
Edge:
Reeded
Diameter:
20.00 millimeters
Weight:
4.37 grams
Mintage:
432
Mint:
Philadelphia
Metal:
91.7% Gold, 8.3% Copper
Auction Record:
$1,380,000 • MS65 • 01-24-2021 • Heritage Auctions
Major Varieties
  • 1796 $2.50 Stars
Die Varieties

Rarity and Survival Estimates Learn More

Grades Survival
Estimate 		Numismatic
Rarity 		Relative Rarity
By Type 		Relative Rarity
By Series
All Grades 41 R-8.6 5 / 11 5 / 12
60 or Better 6 R-9.7 3 / 11 TIE 3 / 12 TIE
65 or Better 0 R-10.1 1 / 11 1 / 12
Survival Estimate
All Grades 41
60 or Better 6
65 or Better
Numismatic Rarity
All Grades R-8.6
60 or Better R-9.7
65 or Better R-10.1
Relative Rarity By Type All Specs in this Type
All Grades 5 / 11
60 or Better 3 / 11 TIE
65 or Better 1 / 11
Relative Rarity By Series All Specs in this Series
All Grades 5 / 12
60 or Better 3 / 12 TIE
65 or Better 1 / 12

Condition Census What Is This?

Pos Grade Image Pedigree and History
1 PCGS MS65 CAC PCGS MS65 CAC

Byron Reed Collection - Durham Western Heritage Museum - Spink America 10/1996:41 (as Raw AU), $231,000.00 - Heritage 1/2007:3382 (as NGC MS65 633280001), $862,500.00 - Madison Collection - Heritage 1/2008:3059 (as NGC MS65 CAC 633580001), $1,006,250.00 - Bob R. Simpson Collection, Part III - Heritage 1/2021:3039 (as PCGS MS65 CAC 40303838), $1,380,000.00
2 Raw MS64PL or better

Fred Sweeney, sold privately on 10/241972 - Harry W. Bass, Jr. Collection - Harry W. Bass Research Foundation (HBCC-3003)
3 MS63 PCGS grade MS63 PCGS grade

Harlan P. Smith Collection - S.H. & H. Chapman 5/1906:237 (as Raw Very Fine, “nick under chin” - incorrectly identified as Lot 239 on the plate), $62.50 - H.O. Granberg Collection - Superior 5/1992:2470 (as PCGS AU58), $44,000.00 - John Whitney Walter Collection, purchased privately in 3/1995 - Stack's 5/1999:1790 (as Raw Choice Brilliant Uncirculated), $115,000.00 - Bowers & Merena 11/2002:3063 - Bowers & Merena 3/2004:2512 (as PCGS MS63), not sold - Goldbergs 9/2010:2758 (as PCGS MS63), not sold - MikeByers.com, offered for $500,000 at the 2/2012 Long Beach Show - Heritage 8/2012:5282 (as PCGS MS63 18206525), $329,000.00
4 Uncertified MS63 (estimated grade)

National Numismatic Collection at the Smithsonian Institution
5 PCGS MS62 CAC

John Whitney Walter Collection - Stack's 5/1999:1791 (as Raw Brilliant Uncirculated), $115,000.00 - Stack's/Bowers 8/2011:7593 (as NGC MS63*), $287,500.00 - Murray Hill Collection - Stack's/Bowers 11/2017:10115 (as NGC MS63* 3332794001), $324,000.00 - EarlyAurum Collection (as PCGS MS62+ CAC 38790214)
6 PCGS MS62 CAC

George H. Earle, Jr. Collection - Henry Chapman 6/1912:2496 (as Raw Proof...probably the finest known example), $215.00 - S.H. Chapman (per the priced and named catalog of the Earle Collection on the Newman Portal) - Possibly the Waldo C. Newcomer Collection (inventory #673, “Proof, finest known specimen” - B. Max Mehl, sold privately - "Colonel" E.H.R. Green Collection - Dr. J. Hewitt Judd Collection - Stack’s 2/1974:495 - Dr. Herbert Ketterman Collection, sold privately in the late 1970’s - James A. "Jimmy" Hayes Collection - Stack’s “Auction ‘84” 7/1984:1365, $74,250.00 - David Akers “Auction ‘89” 7/1989:1356 (as Raw Choice Uncirculated 63+), $176,000.00 - D. Brent Pogue Collection, Part I - Stack's/Bowers & Sotheby's 5/2015:1117 (as PCGS MS62 CAC 60220242), $440,625.00
7 PCGS MS62

Elmer Sears, sold privately in 8/1926 - Herman Englehardt (Montrose, CA dealer), sold privately - anonymous doctor in La Canada, CA, sold privately “in the 1970s” - Stack's/Bowers 8/2021:4165 (as PCGS MS62 42144216)
8 NGC MS62

Heritage 11/2005:2363 (as NGC MS62 1842316001), $219,650.00 - Stack's/Bowers 8/2020:1248 (as NGC MS62 1842316001), $175,000.80
9 NGC MS62

John H. Clapp Collection, sold intact via Stack’s in 1942 - Louis E. Eliasberg, Sr. Collection - Bowers & Ruddy 10/1982:80 (as Raw AU55), $26,400.00 - Bowers & Merena 8/1999:337 (as PCGS MS61), $74,750.00 - Cincinnati Collection - Heritage 1/2005:8761 (as PCGS MS61 04809243), $207,000.00 - Ed Price Collection - Heritage 7/2008:1452 (as NGC MS62 3122658007), $207,000.00 - Heritage 3/2009:2568 (as NGC MS62 3122658007), $172,500.00 - Heritage 7/2009:1205 (as NGC MS62 3122658007), $172,500.00
In the past, this coin has been linked to the S.H. & H. Chapman sale of 1894 (Lot 219), which was purchased by John M. Clapp, but that coin was described as Very Good, with a ring attached (ex-jewelry), so it cannot possibly be this example.
10 NGC MS61

Heritage 1/2007:3381 (as NGC MS61 686260007), $218,500.00 - Bowers & Merena 8/2007:1718 (as NGC MS62), $230,000.00
PCGS MS65 CAC #1 PCGS MS65 CAC

Byron Reed Collection - Durham Western Heritage Museum - Spink America 10/1996:41 (as Raw AU), $231,000.00 - Heritage 1/2007:3382 (as NGC MS65 633280001), $862,500.00 - Madison Collection - Heritage 1/2008:3059 (as NGC MS65 CAC 633580001), $1,006,250.00 - Bob R. Simpson Collection, Part III - Heritage 1/2021:3039 (as PCGS MS65 CAC 40303838), $1,380,000.00
#2 Raw MS64PL or better

Fred Sweeney, sold privately on 10/241972 - Harry W. Bass, Jr. Collection - Harry W. Bass Research Foundation (HBCC-3003)
MS63 PCGS grade #3 MS63 PCGS grade

Harlan P. Smith Collection - S.H. & H. Chapman 5/1906:237 (as Raw Very Fine, “nick under chin” - incorrectly identified as Lot 239 on the plate), $62.50 - H.O. Granberg Collection - Superior 5/1992:2470 (as PCGS AU58), $44,000.00 - John Whitney Walter Collection, purchased privately in 3/1995 - Stack's 5/1999:1790 (as Raw Choice Brilliant Uncirculated), $115,000.00 - Bowers & Merena 11/2002:3063 - Bowers & Merena 3/2004:2512 (as PCGS MS63), not sold - Goldbergs 9/2010:2758 (as PCGS MS63), not sold - MikeByers.com, offered for $500,000 at the 2/2012 Long Beach Show - Heritage 8/2012:5282 (as PCGS MS63 18206525), $329,000.00
#4 Uncertified MS63 (estimated grade)

National Numismatic Collection at the Smithsonian Institution
#5 PCGS MS62 CAC

John Whitney Walter Collection - Stack's 5/1999:1791 (as Raw Brilliant Uncirculated), $115,000.00 - Stack's/Bowers 8/2011:7593 (as NGC MS63*), $287,500.00 - Murray Hill Collection - Stack's/Bowers 11/2017:10115 (as NGC MS63* 3332794001), $324,000.00 - EarlyAurum Collection (as PCGS MS62+ CAC 38790214)
#6 PCGS MS62 CAC

George H. Earle, Jr. Collection - Henry Chapman 6/1912:2496 (as Raw Proof...probably the finest known example), $215.00 - S.H. Chapman (per the priced and named catalog of the Earle Collection on the Newman Portal) - Possibly the Waldo C. Newcomer Collection (inventory #673, “Proof, finest known specimen” - B. Max Mehl, sold privately - "Colonel" E.H.R. Green Collection - Dr. J. Hewitt Judd Collection - Stack’s 2/1974:495 - Dr. Herbert Ketterman Collection, sold privately in the late 1970’s - James A. "Jimmy" Hayes Collection - Stack’s “Auction ‘84” 7/1984:1365, $74,250.00 - David Akers “Auction ‘89” 7/1989:1356 (as Raw Choice Uncirculated 63+), $176,000.00 - D. Brent Pogue Collection, Part I - Stack's/Bowers & Sotheby's 5/2015:1117 (as PCGS MS62 CAC 60220242), $440,625.00
#7 PCGS MS62

Elmer Sears, sold privately in 8/1926 - Herman Englehardt (Montrose, CA dealer), sold privately - anonymous doctor in La Canada, CA, sold privately “in the 1970s” - Stack's/Bowers 8/2021:4165 (as PCGS MS62 42144216)
#8 NGC MS62

Heritage 11/2005:2363 (as NGC MS62 1842316001), $219,650.00 - Stack's/Bowers 8/2020:1248 (as NGC MS62 1842316001), $175,000.80
#9 NGC MS62

John H. Clapp Collection, sold intact via Stack’s in 1942 - Louis E. Eliasberg, Sr. Collection - Bowers & Ruddy 10/1982:80 (as Raw AU55), $26,400.00 - Bowers & Merena 8/1999:337 (as PCGS MS61), $74,750.00 - Cincinnati Collection - Heritage 1/2005:8761 (as PCGS MS61 04809243), $207,000.00 - Ed Price Collection - Heritage 7/2008:1452 (as NGC MS62 3122658007), $207,000.00 - Heritage 3/2009:2568 (as NGC MS62 3122658007), $172,500.00 - Heritage 7/2009:1205 (as NGC MS62 3122658007), $172,500.00
In the past, this coin has been linked to the S.H. & H. Chapman sale of 1894 (Lot 219), which was purchased by John M. Clapp, but that coin was described as Very Good, with a ring attached (ex-jewelry), so it cannot possibly be this example.
#10 NGC MS61

Heritage 1/2007:3381 (as NGC MS61 686260007), $218,500.00 - Bowers & Merena 8/2007:1718 (as NGC MS62), $230,000.00
David Akers (1975/88): A number of years ago this variety was thought to have a much lower mintage than is now generally accepted as correct. As a matter of fact, in early editions of the Red Book, the mintage was stated as being only 66 pieces. The 432 mintage figure now listed in the standard references is much more reasonable in the light of the number of known specimens as well as the number of appearances that this variety has made at auction. As is evident from its significantly lower number of auction appearances, the 1796 With Stars is substantially more rare than the 1796 No Stars, and I would estimate that no more than 20 to 25 pieces are in existence.

As Walter Breen points out in his monograph on quarter eagles, a careful study of the dies clearly indicates that this variety was not created by merely adding stars to the obverse of the 1796 No Stars quarter eagle. The letters in the word LIBERTY are spaced differently and the star configuration above the eagle is also different. It should be noted that the number and arrangement of stars on the obverse is different than on any other quarter eagle of this type. There are 16 stars and they are arranged 8 to the left of the head and 8 to the right. (Subsequent years have only 13 stars arranged in three different combinations, 7x6, 8x5, and 6x7.)
David Hall:

The 1796 $2.5 with stars on the obverse is an extremely rare coin. Only 427 were originally minted and probably less than 50 exist today in all grades. The finest known example grades in the MS64/65 range.