The 1796 Turban Head Gold $5 Half Eagle is a unique and historically significant coin in the world of numismatics. As one of the first coins ever struck by the United States Mint, it holds a special place in American coinage history. The “6 over 5” variety is an important feature that makes this coin even rarer and more valuable to collectors. In this article, we will explore the history, design, and value of the 1796 Turban Head Gold $5 Half Eagle and why the “6 over 5” variety is so highly sought after.
Introduction to the 1796 Turban Head Gold $5 Half Eagle
The 1796 Turban Head Gold $5 Half Eagle was the first $5 gold coin issued by the United States Mint. It was part of the first set of coins struck under the Mint Act of 1792, which established the U.S. Mint. These early gold coins were designed by Robert Scot, the Chief Engraver of the Mint at the time. The “Turban Head” design was inspired by the portrait of Liberty, wearing a turban-like headpiece, which was a common feature in early American coinage.
The “6 over 5” variety refers to a particular error in the engraving process, where the number “5” on the reverse of the coin was altered to a “6” after the initial coin dies were made. This small error created a unique and rare variant of the coin, making it one of the most coveted pieces in numismatic collections.
History and Background
The U.S. Mint began producing gold coins in 1795, and the Half Eagle was introduced in 1795 as well. However, the 1796 issue is unique for several reasons. First, it was part of a limited mintage, making it highly sought after by collectors. Second, the design featured Liberty with a turban, which was different from later versions of the Half Eagle that depicted a more classical image of Liberty.
In 1796, the U.S. Mint only struck a few thousand of these coins, and the “6 over 5” variety was discovered much later. This variety has become an important part of numismatic history, and its rarity makes it incredibly valuable today.
The 6 Over 5 Variety
The “6 over 5” variety on the 1796 Turban Head Gold $5 Half Eagle is an example of a die variety, where the number “5” in the date was modified to a “6.” This occurred when the engravers at the U.S. Mint initially used a die that had the “5” and then later altered it to correct the date. This error left the faint remnants of the “5” visible under the “6,” making this particular coin extremely rare and valuable to collectors.
Coins with the “6 over 5” variety are often harder to find, and they are usually in higher demand at auctions and coin shows. Collectors and investors alike seek out these rare varieties for their historical significance and the uniqueness they bring to a coin collection.
Design Features of the 1796 Turban Head Gold $5 Half Eagle
The 1796 Turban Head Gold $5 Half Eagle features a distinctive design that makes it stand out among other early U.S. coins. On the obverse, the portrait of Liberty faces left, wearing a turban with a ribbon tied around it. This design was influenced by the neoclassical style, which was popular during the late 18th century. Around Liberty’s head is the inscription “LIBERTY.”
On the reverse, the design features an eagle with outstretched wings, holding an olive branch in one claw and a bundle of arrows in the other. The eagle is surrounded by a wreath, with the inscription “UNITED STATES OF AMERICA” above and “E PLURIBUS UNUM” (Out of many, one) below.
Table: Key Features of the 1796 Turban Head Gold $5 Half Eagle
| Feature | Description |
|---|---|
| Year of Issue | 1796 |
| Design | Turban Head Liberty on the obverse |
| Coin Type | $5 Gold Half Eagle |
| Mintmark | None (Minted at the Philadelphia Mint) |
| Reverse Design | Eagle with olive branch and arrows |
| Mintage | Limited, with only a few thousand produced |
| Variety | 6 Over 5 (Rare die variety) |
| Weight | 8.75 grams |
| Diameter | 27 mm |
Value of the 1796 Turban Head Gold $5 Half Eagle
The value of the 1796 Turban Head Gold $5 Half Eagle, especially the “6 over 5” variety, is significantly higher than the standard version. Due to its rarity and the historical significance of the coin, the price of a 1796 Turban Head Gold $5 Half Eagle can range from several thousand dollars to over a million dollars at auction, depending on its condition.
Coins with the “6 over 5” variety are the most valuable among collectors, with prices reaching upwards of $1 million in exceptional condition. Even coins in less-than-perfect condition can command significant prices due to their rarity.
Why Collectors Want the 1796 Turban Head Gold $5 Half Eagle
There are several reasons why collectors are drawn to the 1796 Turban Head Gold $5 Half Eagle, particularly the “6 over 5” variety:
- Historical Significance: As one of the first gold coins minted by the United States, the 1796 Half Eagle represents an important chapter in American coinage history.
- Rarity: The limited mintage of the 1796 coin and the “6 over 5” variety make these coins incredibly rare, which drives up demand among collectors.
- Unique Design: The distinctive Turban Head design and the eagle on the reverse make the coin visually appealing and a valuable addition to any collection.
- Investment Potential: Due to their rarity and historical importance, these coins are seen as valuable investments that have the potential to appreciate over time.
Conclusion
The 1796 Turban Head Gold $5 Half Eagle, particularly in the “6 over 5” variety, is a true treasure of American numismatics. Its historical significance, rarity, and unique design make it a prized possession for coin collectors and investors alike. Whether you’re a seasoned numismatist or a casual collector, owning a piece of U.S. Mint history like the 1796 Turban Head Gold $5 Half Eagle is a remarkable achievement.
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FAQs
What is the “6 over 5” variety?
The “6 over 5” variety refers to an engraving error on the 1796 Turban Head Gold $5 Half Eagle where the number “5” was altered to a “6,” leaving remnants of the original number visible on the coin.
How much is a 1796 Turban Head Gold $5 Half Eagle worth?
The value of a 1796 Turban Head Gold $5 Half Eagle can range from several thousand dollars to over a million dollars, depending on its condition and whether it is the “6 over 5” variety.
How can I tell if I have a “6 over 5” variety?
The “6 over 5” variety can be identified by examining the date on the coin. If the “6” appears to have been altered from a “5,” you likely have the rare variety.
Why is the 1796 Turban Head Gold $5 Half Eagle so valuable?
The coin is valuable due to its rarity, historical importance, and unique design. The “6 over 5” variety is especially sought after by collectors.
Where can I buy or sell a 1796 Turban Head Gold $5 Half Eagle?
These coins are often sold at auctions, through numismatic dealers, or at specialized coin shows.