The 1796 Draped Bust half dollar with 15 stars is a rare and historically significant U.S. coin. With an estimated mintage of just 569 coins for the 15-star variety, it is one of the earliest half dollars ever struck by the U.S. Mint. This coin is highly prized by collectors due to its rarity, its connection to early American history, and its representation of a short-lived design element of placing one star for each state in the Union.
The 1796 Draped Bust half dollar is part of a small production run from 1796 to 1797, during which only 3,918 half dollars were minted. The 15-star obverse was a result of the Mint’s attempt to represent each state in the Union, with Kentucky being the 15th state. The design was soon altered to 16 stars when Tennessee joined the Union in 1796, but this crowded arrangement proved impractical, and the Mint eventually returned to using 13 stars to symbolize the original colonies.
| Specifications | |
|---|---|
| Size | 32.5 millimeters |
| Denomination | 0.5 USD |
| Gross Weight | 13.48 grams |
| Actual Silver Weight | 0.3866 troy ounces of silver |
| Fineness/Composition | 89.24% silver, 10.76% copper |
| Diameter | 32.5 millimeters |
| Thickness | 2.15 millimeters |
| Specific Gravity | ~10.32 |
| Numismatic Price Range | $30000.00 - $587500.00 |
The obverse of the 1796 Draped Bust half dollar features a portrait of Liberty with flowing hair, surrounded by 15 stars, representing the 15 states of the Union at the time. The date "1796" is inscribed below Liberty. The reverse of the coin depicts an eagle with outstretched wings, known as the Small Eagle design, surrounded by a wreath and the inscription "United States of America" with the denomination "½" below. This design is emblematic of early American coinage and reflects the artistry of the time.
The 1796 Draped Bust half dollar is a landmark in American numismatics due to its rarity and its connection to the early years of the United States. With an estimated survival rate of 5–6%, only around 200 specimens are believed to exist today in all grades, making this coin a prized piece for collectors. Even in heavily worn condition, these coins can command prices in the tens of thousands of dollars, while Mint State examples can fetch hundreds of thousands. The 15-star design reflects an era of experimentation in U.S. coinage that was soon abandoned.
The value of the 1796 Draped Bust half dollar depends on its condition, with even heavily worn and damaged coins commanding high prices due to their rarity. Lower-grade examples typically sell for tens of thousands of dollars, while Mint State coins can reach extraordinary values. The auction record for a Mint State 1796 15-Star Draped Bust half dollar is $587,500.
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