1796 $10 Draped Bust PCGS AU58
$132,500.00
1 in stock
1796 $10 Draped Bust Rare Coin
PCGS AU58
Certification: 8554.58/61821042
Type 1 Small Eagle
Mintage: 4,146 (125-175 known)
PCGS POP: 21/15
A highly desirable specimen of this rare early type. This attractive honey-golden example will give you many years of pleasure. Ron Guth writes on PCGS Coinfacts, “The 1796 $10 gold piece is an inherently rare coin, thanks in large part to a minuscule mintage of just over 4,100 pieces. The 1796 is at least three times as rare as the 1795 and it is much more difficult to find a Mint State example of the 1796.” It is rarely available. For example, between 2005 and 2025—twenty years—there have been only eight auction sales of PCGS AU58 examples.
Why is the 1796 Eagle such a great rarity? Economist Arthur B. Woodford writes, “as early as 1798 it was stated in Congress that a large quantity [of gold $10 Eagles] had been seen in a goldsmith’s window in England.” After hearing this news, one Congressman called out, “Thus easily do our eagles take their flight.” The 15:1 silver-to-gold ratio created by Alexander Hamilton left gold coins (1795-1834) undervalued, encouraging them to be hoarded or sent to Europe, where they were melted and sold for their bullion value.
Additional information
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| Year | 1796 |
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