Introduction and Essential Identification
The 1796 Draped Bust Cent represents a pivotal year in early American coinage, marking just the third year of the Draped Bust design that would define large cent production into the early 19th century. Prized by serious collectors of early American copper, this one-year subtype featuring the combination of Draped Bust obverse with the Reverse of 1795 commands significant premium even in modest grades.
Current Market Value (PCGS, April 2025):
G-4: $1,500-2,000
VF-20: $7,500-9,000
AU-50: $35,000-45,000
MS-63: $125,000-150,000
Specifications and Physical Characteristics
Official Specifications:
- Diameter: 29mm (with tolerance of ±0.5mm due to handmade planchets)
- Weight: 10.89 grams (168 grains) standard, with documented variance between 9.4-11.5g
- Composition: 100% copper
- Edge: Plain
- Designer: Robert Scot (Chief Engraver, US Mint 1793-1823)
- Mint Mark: None (all struck at Philadelphia)
- Mintage: 109,825 pieces
Reverse Details: The reverse displays a wreath design enclosing “ONE CENT” with the denomination “1/100” beneath. The outer legend reads “UNITED STATES OF AMERICA”. This particular reverse design is classified as the “Reverse of 1795” and was used only in 1796 before transitioning to a modified wreath design in 1797.
Die Characteristics: Large planchet cracks, off-center strikes, and adjustment marks (pre-strike filing marks to correct weight) are common for this issue due to primitive minting technologies. These production artifacts should not be confused with damage.
Mintage Data and Historical Context
The Philadelphia Mint produced 109,825 cents in 1796, representing the third-lowest mintage of any Draped Bust cent. Production was limited by several factors:
- Copper shortages plagued the early Mint, forcing temporary halts in production
- Yellow fever outbreaks in Philadelphia caused multiple mint closures
- Limited striking capacity of early hand-operated equipment
- Competition with foreign copper coins still widely circulating
Contemporary records from Mint Director Elias Boudinot noted the challenges of acquiring suitable copper planchets, writing in October 1796: “The scarcity of workable copper continues to impede our production of cents beyond what we had anticipated.”
Survival rates are estimated at fewer than 3,000 specimens across all grades, with perhaps 30-40 examples known in Mint State condition.
Major Varieties and Die Marriages
The 1796 Draped Bust cent exists in several significant varieties based on the Sheldon attribution system, which remains the standard reference for early American large cents:
Sheldon-91 (S-91): The most common variety, featuring a normal date placement with Liberty’s bust nearly touching the date. The reverse shows “ONE CENT” with wider spacing compared to other varieties.
Sheldon-92 (S-92): Displays reversed “S” in “STATES” – a key diagnostic point. Bold characteristic: The S appears as a backward Z to the careful observer.
Sheldon-93 (S-93): Features a higher date placement, creating more space between Liberty’s bust and the numerals. Authentication Tip: Look for a die crack that typically runs through the “UNIT” of “UNITED” on the reverse.
Sheldon-94 (S-94): The rarest major variety with perhaps 20-30 specimens known. Features a repunched date with visible doubling on “17” and the top of “96”.
Sheldon-95 (S-95): Known as the “No Period After AMERICA” variety. Authentication Tip: Verify the absence of the period and note the distinctive die cracks through “UNITED” and “STATES”.
Grading Standards for 1796 Draped Bust Cents
Grading early copper poses unique challenges due to widespread planchet issues, environmental damage, and cleaning attempts over 225+ years. The following grade-specific characteristics apply specifically to 1796 cents:
Good (G-4): Major design elements visible but worn. Rims may be worn into legends. Date and “LIBERTY” must be fully legible. Porosity and environmental damage common at this grade.
Very Good (VG-8): All major design elements clear. Liberty’s hair shows some separation of strands. Wreath details partially visible. Rims complete but may show wear.
Fine (F-12): Liberty’s hair shows distinct strands and ribbon detail is clearer. Reverse wreath shows leaf details. Bold characteristic: Look for definition in Liberty’s ear and hair ribbon for authentic F-12.
Very Fine (VF-20 to VF-35): Most hair strands distinct. Facial features well-defined. Drapery lines obvious. Wreath details sharp with clear central vein lines in leaves. Authentication Tip: Check for natural flow lines in copper – artificial smoothing often betrays cleaned specimens.
Extremely Fine (EF-40 to EF-45): Sharp hair strand definition. Virtually all facial details clear. Wreath shows full leaf details including minor veining. Bold characteristic: Liberty’s ear should show internal detail at this grade.
About Uncirculated (AU-50 to AU-58): Light friction on highest points only. Full mint luster may be present in protected areas. Hair strands show full detail except at highest points.
Mint State (MS-60 to MS-65): No wear, though striking weakness may exist. Original surfaces with no evidence of circulation. Authentication Tip: Natural copper color ranges from chocolate brown to reddish-brown; bright orange-red surfaces often indicate cleaning or artificial enhancement.
Current Market Values and Price Trends
The following table presents current market values based on PCGS Price Guide (April 2025) and recent Heritage Auction results:
| Grade | PCGS Price | Recent Auction Range | Notes |
| G-4 | $1,750 | $1,475-2,100 | Heavily dependent on eye appeal |
| VG-8 | $2,850 | $2,500-3,200 | Premium for even color |
| F-12 | $4,500 | $4,100-5,300 | S-93 variety commands 15-20% premium |
| VF-20 | $8,250 | $7,500-9,600 | Environmental damage reduces value by 40-60% |
| VF-35 | $14,500 | $13,000-16,800 | Premium for original surfaces |
| EF-40 | $24,000 | $21,500-27,000 | Sharp strikes command premiums |
| AU-50 | $38,500 | $35,000-45,000 | Fewer than 100 examples exist |
| MS-60 | $70,000 | $65,000-82,000 | Rare at this grade |
| MS-63 | $135,000 | $125,000-160,000 | Fewer than 25 examples known |
| MS-65 | $285,000 | $250,000-350,000 | Perhaps 5-7 examples exist |
Notable Recent Auction Results:
- Heritage January 2025: S-91 variety, MS-64 Brown, realized $212,500
- Stack’s Bowers March 2024: S-94 variety, AU-55, realized $117,500
- Heritage FUN Show 2025: S-92 variety with reversed S, VF-25, realized $11,750
Market Trend Analysis: Values for problem-free 1796 cents have appreciated approximately 5-7% annually over the past decade, outpacing most other early copper issues. The increased interest in early American copper collecting has driven particular demand for key dates like 1796.
Authentication and Counterfeit Detection
The 1796 Draped Bust cent’s high value has made it a target for counterfeiters. Authentication requires careful examination of several key points:
Die Characteristics: Authentic specimens must match known die marriages (S-91 through S-95). Bold characteristic: Study the placement of date digits relative to Liberty’s bust and denticles.
Strike Quality: Period authentic strikes often show weakness at the centers due to the primitive screw press technology. Authentication Tip: Too-perfect central details may indicate modern reproduction.
Metal Composition: Period copper has distinctive flow lines and natural aging characteristics. Modern counterfeits often use copper with incorrect zinc content.
Edge Examination: Authentic specimens have plain edges produced by running strips through a rolling mill before blanking. Bold characteristic: Look for characteristic parallel flow lines in the metal.
Weight and Diameter: Measurements should fall within the tolerance range noted above; however, many genuine specimens were subjected to weight adjustment at the Mint.
Common Counterfeit Indicators:
- Unnaturally sharp design details coupled with weak denticles
- Incorrect font characteristics, particularly in “LIBERTY” lettering
- Metal with incorrect porosity or color
- Cast surface appearance (tiny pits throughout)
- Incorrect die rotation (authentic 1796 cents typically show 180° ±15° die rotation)
Preservation Considerations
The copper composition of 1796 cents presents specific conservation challenges:
Storage Recommendations:
- Never clean or attempt to improve appearance
- Store in inert holders free from PVC or other harmful plastics
- Maintain stable humidity between 40-50%
- Avoid handling with bare hands; natural oils accelerate copper deterioration
Patina and Toning: Natural patination on 1796 cents typically presents as chocolate brown to medium brown coloration. Authentication Tip: Green or blue-green spotting (“verdigris”) indicates active corrosion that should be professionally stabilized.
Professional Conservation: Only conservators specializing in early American copper should attempt treatments. The Numismatic Conservation Service (NCS) associated with NGC has demonstrated appropriate protocols for stabilizing problematic early copper.
FAQs About the 1796 Draped Bust Cent
How can I determine if my 1796 cent is genuine without professional grading?
While professional authentication is strongly recommended for any 1796 cent, preliminary assessment can begin with precise weight and diameter measurements, comparison of die characteristics to published references such as Sheldon’s work, and examination under 10x magnification for cast surfaces indicative of counterfeits. The distinctive “Sheldon-92” reversed S variety is particularly difficult to fake accurately.
Why do 1796 cents show such wide variation in appearance and quality?
The primitive manufacturing conditions at the early Philadelphia Mint created significant inconsistencies. Planchets were produced by hand, dies were engraved individually rather than hubbed, and striking pressure varied considerably. Additionally, copper blanks were often of inconsistent quality, leading to striking weaknesses, cracks, and other anomalies that are actually confirmation of authenticity rather than defects.
Are cleaned 1796 cents worth significantly less than those with original surfaces?
Yes. Improperly cleaned cents typically sell for 40-60% less than comparable examples with original surfaces. However, market acceptance varies based on the severity and age of cleaning. Ancient cleaning that has since retoned naturally may be more acceptable to collectors than recent harsh cleaning that has left unnatural surfaces.
What is the significance of the Draped Bust design in American numismatic history?
The Draped Bust design introduced in 1796 represents America’s first major redesign of circulating coinage, moving away from the earlier Flowing Hair motif toward a more mature artistic representation. Inspired by Gilbert Stuart’s portrait of Ann Willing Bingham, a prominent Philadelphia socialite, this design reflected America’s desire to create coinage with more sophisticated artistic merit comparable to European issues of the period.
Should I purchase a 1796 cent raw (unslabbed) or only consider certified examples?
Given the high value and prevalence of counterfeits, purchasing certified examples from major grading services (PCGS, NGC) is strongly recommended for most collectors. Raw examples should only be considered when accompanied by verifiable provenance or when the buyer possesses substantial expertise in early American copper. Remember that certification provides authentication, grading standardization, and some protection against misrepresentation.
Conclusion
The 1796 Draped Bust cent represents not just a numismatic treasure but a tangible connection to America’s earliest days as an independent nation. With its limited mintage, historical significance, and challenging acquisition, this issue remains a cornerstone of serious early American copper collections. Whether your interest lies in completing a type set or specializing in early large cents, understanding the nuances of this issue will enhance both collecting enjoyment and investment potential. The premium commanded by choice examples continues to rise as the available population diminishes through institutional acquisitions and long-term holding by dedicated collectors.
References: PCGS Population Report (2025), Sheldon’s “Early American Cents” (1949), Heritage Auction Archives (2020-2025), Breen’s “Encyclopedia of US and Colonial Coins” (1988)