1796 Half Dollar Value: How Much Is It Worth Today?

Are you interested in collecting historic coins? Like many other collectors, you are probably wondering what it would be like to own a 1796 Draped Bust silver half dollar. Our 1796 half dollar value guide will help you understand why this coin is worth adding to your collection.

You will learn everything you need to know about this iconic coin including its current market value, how to spot a counterfeit, and expert tips for grading your silver half dollar.

What makes this coin so special? The 1796 half dollar has a historically low mintage. In fact, of all the silver coins minted in the United States, this is the rarest and most sought-after. Today, only about 5% of the total mintage exists, with most examples found in lower grades.

Whether you are looking to sell, buy or just and learn more about this popular coin, our 1796 half dollar value guide will come in handy.

Let’s get started!

1796 Half Dollar Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1796-No Mint Mark Half Dollar Value	$38,000-$42,000	$57,500-$70,000	$130,000-$140,000	$480,000-$750,000

 

History of the 1796 Half Dollar

The 1796 half dollar is part of the Draped Bust, Small Eagle coin series, which replaced the Flowing Hair dollar design first minted in 1794. The Flowing Hair dollar was the first United States silver dollar but after just one year of production, the Mint decided to redesign it and give it a more modernistic appearance.

When Henry William de Saussure took office as the Director of the Mint in 1794, one of his major goals was to redesign U.S. coinage.  It is widely believed that Gilbert Stuart created the Draped Bust design but he later distanced himself from the design after what he deemed as Mint Engraver Robert Scot’s misinterpretation of his original version when casting the coin hubs.

It was only after many years that numismatists discovered Stuart as being the creator behind the Draped Bust design. It is also believed that Stuart based his design on Philadelphia socialite, Ann Willing Bingham. Scot and de Saussure approved the final design and presented it to President George Washington and Thomas Jefferson who also gave it their approval.

Due to poor record-keeping at the time, the exact date production of the Draped Bust coinage, including the silver half dollar, is unknown. However, historian estimate that production began in late 1795. The Coinage Act of 1792 required silver coins be composed of 89.2% silver and 10.8% copper. However, unauthorized, Mint officials decided to strike silver coinage in 90%.

When former congressman, Elias Boudinot, took over as the Mint Director after de Saussure’s resignation, he ordered the Mint to comply with the Coinage Act’s original requirements that silver coinage be struck in 89.2% silver. In addition, Boudinot prioritized production of smaller denomination. At the same time, silver bullion deposits dropped significantly, leading to a sharp decline in the half dollar mintage in 1796.

Between 1796 and 1797, the Mint struck only 3, 918 silver half dollars, with just 934 of them believed to have been minted in 1796. Although mintage for the Draped Bust series remained low throughout its production, the 1796 Draped Bust half dollar stands out for its extremely low mintage.

Because of its scarcity, the 1796 half dollar usually remains one of the most challenging coins for collectors trying to complete a set of early United States silver coin designs.

Also read: 13 Most Valuable Franklin Half Dollars Worth Money

 

Features of the 1796 Half Dollar

Understanding the key features of the 1796 half dollar helps with grading, identifying minting errors and varieties, spotting counterfeits, and identifying Draped half-dollars worth money.

Here’s what to look for:

Obverse of the 1796 Half Dollar

The front side of the 1796 half dollar features a right-facing Liberty adorning a drapey cloth with her flowing hair tied back in a ribbon.

The word “LIBERTY” is prominently displayed above her head while the date, 1796, is positioned below her portrait.

Some 1796 half dollars feature 15 stars while others have 16 stars representing the number of states in the Union at the time. When Tennessee joined the Union in June 1796, the Mint added the sixteenth star. However, since adding a new star for each state could not go on indefinitely, officials standardized the design to 13 stars representing the original states.

Reverse of the 1796 Half Dollar

The reverse features a scrawny eagle, also known as the “small eagle,” perched on a cloud with its wings spread wide. Surrounding the eagle is a laurel wreath made of oak and olive leaves.

The laurel, open at the top and tied with a ribbon at the bottom, is a symbol of peace and victory, a symbol that reflected the mood of a young, newly independent United States.

 The words “UNITED STATES OF AMERICA” are etched all around the coin while. At the bottom, just below the ribbon, the denomination is represented by a small ½.

Other Features of the 1796 Half Dollar

Additional features of the 1796 half dollar include:

• Diameter: 32.59 millimeters
• Weight: 13.48 grams
• Metal composition: 89.2% Silver, 10.8% Copper
• Fineness: 0.892
• ASW: 0.3866oz
•  Edge: Lettered: FIFTY CENTS OR HALF A DOLLAR

Also read: 13 Most Valuable Kennedy Half Dollar Worth Money

 

1796 Half Dollar Value Guides

So, how much is a 1796 half dollar worth? The value of a 1796 Draped Bust half dollar depends mostly on its condition. This coin is scarce in all grades and more so in uncirculated Mint State condition. Even lower-grade examples fetch premium prices due to their rarity.

There are two varieties of the 1796 half dollar:

• 15 Stars Variety: Out of total 934 coins minted, about 569 show 15 stars on the obverse
• 16 Stars Variety: About 365 of the silver half dollars display 16 stars on the obverse

The 15 stars variety is more desirable because it is an early strike, but both types are highly sought-after.

It is estimated that only about 60-70 of the 15 stars variety survive today, with most examples showing moderate wear. Early collectors recognized that the 1796 half dollar was worth preserving due its low mintage, so heavily worn examples are uncommon in this series.

The 16 stars variety may have been minted after Tennessee joined the Union in June 1796. Surviving examples are about 4-5 dozen; most are well circulated and typically graded between Very Good (VG) and Very Fine (VF).

Here’s what to expect in terms of pricing:

Circulated examples: The 15 stars variety can fetch as much as $31,000 at grade Poor/Average while the 16 stars variety is worth about $32,500 at the same grade. At Extremely Fine (XF) expect up to $130,000 for a 15 stars coin and about $140,000 for the 16 stars variety. About Uncirculated (AU58) are extremely scarce and will fetch as much as $250,000.

Uncirculated examples: These are extremely rare and will fetch a premium even in lower Mint State. At MS60, expect about $260,000-$350,000 while an MS62 will bring in as much as $340,000-$365,000. Gem-quality examples are genuinely rare—a 16 stars variety graded MS66 is worth about $700,000.

Auction record: In 2015, Stack’s Bowers auctioned an MS66 16 stars variety for $822,500 while an MS63 15 stars variety was sold for $373,750 by Heritage Auctions in 2008.

Also read: 11 Most Valuable Half Dollars In Circulation

 

1796 Half Dollar Grading

If you come across a 1796 half dollar, there are some key wear patterns you can look for to help you estimate how much your coin might be worth.

Here are some tips to help you along:

Good (G4-G6): On such a coin, the outline around Liberty’s portrait is visible but her facial features and hair strands are smooth. The stars are worn and some might even be incomplete; the same applies to the word “LIBERTY” although the date is still visible. On the reverse, the eagle’s outline is visible but the rest of the features, such as the head, wings, breast, cloud and laurel are weak.

Fine (F12-F15): This coin shows more detail on Liberty’ hair with some of the curls being visible but slightly worn. The stars, LIBERTY, and the date are flat but complete and relatively visible compared to lower grades.

Extremely Fine (XF40-XF45): The details on the obverse and reverse are sharper. Liberty’s curls have a stronger definition but high points show slight wear. The inscriptions and stars are complete and sharp. Non-high points are still have a bit of the original luster.

Uncirculated (MS60-MS70): Uncirculated pieces will have all details fully intact including Liberty’s hair and facial features, the inscriptions, and stars. On the reverse, the eagle’s head, wings, and breast are fully defined. The original mint luster is visible, giving the coin a shiny appearance. There are minimal (if any) signs of contact marks, flatness or any kind of wear.

If possible, try comparing your 1796 half dollar to a professionally graded example for accurate grading.

 

Rare 1796 Half Dollar Errors List

There are some notable minting errors to look out for in the 1796 half dollar series. These errors can significantly boost the value of an already rare and expensive coin.

1. 1796 Half Dollar Misaligned Die Error

As the name suggests, a misaligned die error occurs when the obverse and reverse dies are slightly offset. This was a common error in early U.S. coinage due to undeveloped minting techniques.

 This error causes part of the design details to be struck more towards the coin’s rim and away from the center. Part of Liberty’s profile, the stars, and a portion of the date are only partially visible. Meanwhile, the rest of the coin seems to have an extended rim.

Significant misalignments can increase the value of your silver half dollar by 10-20% depending on the coin’s condition.

2. 1796 Half Dollar Overdate Error

On a few 1796 half dollars there is an overdate error where the “6” in the date is punched over “5”.

This error can be attributed to a common practice by the Mint that involved modifying dies from the previous year and using them to strike coins in subsequent years, likely due to limited resources.

Coins with a 1796/5 overdate error can fetch an extra $200-$500, depending on the strike quality and visibility of the overdate.

3. 1796 Half Dollar Die Crack Error

Die cracks and cuds were common in early coinage due to the extensive use of worn or damaged dies. Cud errors appear like raised bumps along the rim and on the coin’s surface.

Die cracks and cuds form when small pieces break off from the die’s surface, leaving gaps that gradually fill with small metal pieces. When the die strikes, the metal-filled gaps leave their impression on the planchet’s surface and appear like raised bumps.

Depending on size, shape or uniqueness, die cracks and cuds can fetch up to $100 in extra value.

 

Where to Sell Your 1796 Half Dollar?

Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons. 

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

FAQS

How much is a 1796 silver half dollar worth today?

The value of a 1796 half dollar ranges between $7,500 to $500,000+ depending on the coin’s condition, with rare, uncirculated examples fetching more.

Do 1796 half dollars still exist?

Yes, there are still a few examples of the rare 1796 half dollar. With a mintage of only 3, 918 coins and the fact that many were melted down or lost, finding these coins, especially in higher grades, can be extremely hard.

How to tell if a 1796 half dollar is fake or real?

Because of its rarity and high value, the 1796 half dollar is a target for counterfeiters. Tell-tale signs of a fake include an unusually dark tone, weak details to make the coin look worn, odd imperfections such as dings and lumps on the coin’s surface, and an abnormally sharp edge that’s typical of a modern coin. If you suspect your coin might be counterfeit doubt, you should consult a professional grader such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Company (NGC) for authentication.