1796 Draped Bust Silver Dollar Small Eagle ANACS EF-45 Start Price USD 6,499.00 Current Price USD 6,499.00 Time Left - Bid Count 0 Buy It Now Price USD 7,100.00 Reserve Price - Start Time Thursday, November 27, 2008 End Time Sunday, December 07, 2008 Location Plainfield, IL See more about '1796 Draped Bust Silver Dollar Small Eagle ANACS EF-45' Description 1796 "DRAPED BUST" SILVER DOLLAR WITH SMALL EAGLE REVERSE - ANACS AUTHENTICATED AT EF- 45 ! You are bidding on a 1796 "Draped Bust - Small Eagle Reverse" Silver Dollar.   The coin is of the "B-1 Variety", trending at over $12,000.00.  The coin was cleaned long ago.  Many of the old Dollars and Half Dollars have been cleaned at some point in their 200-year history.  The coin has a scratch on the reverse at 8:00.  It runs from the edge of the coin, through the top of the " I " and through the bottom of the " T " in "United".  Also, if you look at Liberty's neck, half way between the ear and the shoulder (right where the hair meets the neck) you will see a small dig.   But those are remarkably few problems for a 1776 coin!!!  THIS COIN TRENDS OVER $12,000.00.  The coin is being offered with bids opening at $6,499.00. HISTORY:  After the First Continental Congress was established in the mid 1780's, America needed a currency.  The first pennies ("Flowing Hair" Liberty Chain/Wreath Large Cents) were issued in 1793.   There was no paper currency until well into the 1800's.   A penny went a long way back then, but a larger unit of currency was needed.  The very first United States Dollar was minted in 1794 (good luck finding one of those).   The 1794 coin was the "Flowing Hair w/ Eagle Reverse".  The Eagle Reverse shows the eagle standing on a single rock or pedestal, with wings outside of the surrounding wreath. This design continued in 1795.   Later that same year (1795) the first of the "Draped Bust" Silver Dollars was minted.  The new 1795 "Draped Bust" maintained an eagle on the reverse, but the new eagle is more appealing with wings fully inside the wreath and standing on a three-dimensional backdrop.  This is the highly sought-after "Small Eagle" design, which continued only until half way through 1798.  The "Draped Bust" design with Small Eagle reverse lasted only from late 1795 through early 1798 (2 1/2 years).  There were less than 1/2 Million of these ever made.   There were only 79,000 minted in 1796. During the later part of 1798 the "Draped Bust" reverse was changed to the "Heraldic Eagle" reverse.  The "Heraldic Eagle" is how the coin remained until the United States FOREVER stopped making these incredibly beautiful Silver Dollars.    This small piece of history lasted only ten years, from 1794 through 1804 (the 1804 coins were actually minted later, and the 1804 coin is unobtainable with only 18 known examples)..  After 1804, NO MORE SILVER DOLLARS WERE MADE until the "Seated Liberty" Dollars were minted beginning about 1840.   There is no other silver dollar that touches the beauty and historic interest of this ten year original series.  All of the coins from this era were just under .9000 Pure Silver, and close to one troy ounce in weight. These are large, heavy and very beautiful coins.    WE SUBMITTED THIS COIN TO ANACS FOR AUTHENTICATION, AND WE ALSO HAVE THE PAPERWORK AND GUARANTY FROM THE ORIGINAL SELLER. For a wide selection of even more old, rare coins, please visit our EBAY store at J.W. World Coins...just click the tab on the right of this screen. AND SEE OUR VERY LIBERAL RETURN POLICY AND COUNTERFEIT COIN PROTECTION...THE BEST IN THE BUSINESS ! THANKS. Place a Bid!