1796 15 Stars

Robert Scot's first Draped Bust half dollar opened with a 15-star obverse, one star for each state then in the Union, and a delicately rendered Small Eagle reverse showing the bird perched on a cloud inside an open olive wreath. The 1796 15 Stars issue is one of the earliest half dollar deliveries the Philadelphia Mint produced under the 1792 Coinage Act standard of 412.5 grains at .8924 fine silver. Combined 1796-1797 Small Eagle production was minuscule, with the U.S. Mint Director's reports placing the total figure at roughly 3,918 pieces across all three Small Eagle entries. The 15-star variant was struck before Tennessee's admission to the Union on June 1, 1796, after which the obverse was modified to acknowledge the sixteenth state.

Surviving population for the 15 Stars sits in the low hundreds across PCGS and NGC combined, with most known examples grading Good through Very Fine. Mint State survivors are vanishingly few. Strike quality on these earliest Scot dies is variable: drapery folds, hair detail above the ear, and the eagle's breast feathers tend to show softness on coins that lived through any circulation. Adjustment marks, the file lines applied to overweight planchets before striking to bring them onto the legal weight tolerance, appear regularly and are part of original Mint production rather than damage. Authentication is non-negotiable. Counterfeits and tooled or repaired examples flood the market, and the genuine lettered edge reading FIFTY CENTS OR HALF A DOLLAR must be intact and original; reworked edges are a major red flag.

For type-set collectors building an early American silver lineup, this issue is one of the most coveted single dates in U.S. numismatics, trading in the high five to mid six figures even at the low end of the grade scale. Realistic acquisition demands a current PCGS or NGC slab or a coin with verifiable Heritage or Stack's Bowers cataloging history. For the broader story of Robert Scot's design, the Small Eagle to Heraldic Eagle transition, and the series' production arc, see the Draped Bust Half Dollar series history.