Photos used with permission and courtesy of Heritage Auction Galleries

Description:
The Act of February 21, 1853, established the prevalence of fiat coinage for this nation; the value stamped on a coin was what the government said it was, not necessarily related to the value of the material from which that coin was made. Though for at least the past generation all circulating coins have a face value that is higher than the metal value (recent copper and nickel price issues notwithstanding), in the mid-19th century that was not the case. People expected coins to have intrinsic value, but maintaining parity between the face value and the metal value of silver and gold coins was a constant balancing act. The discovery of vast quantities of gold in California in 1848 and subsequent years disrupted that balance. As gold became plentiful but silver supplies remained constant, gold’s value declined relative to silver and the price of silver rose. When the face value of circulating silver coins became less than the value of the silver in those pieces, silver coins disappeared from circulation, melted as bullion or hoarded.

To address the problem, Mint Director George N. Eckert reduced the weight of silver coins (except for the dollar) so that melting would no longer be profitable, a change authorized by the February Act. To distinguish new half dimes from the old heavier coins, and with no time to make significant alterations, the only change made by Chief Engraver James B. Longacre to the half dime was the addition of an arrow on each side of the date. Arrows appeared on half dimes from 1853 through 1855; 1853-dated half dimes were produced both without arrows and with arrows. James Ross Snowden became Mint Director in 1853 and removed the arrows from 1856 half dimes, probably because by then most of the older heavyweight coins had either been melted or otherwise put away for safekeeping. All half dimes from 1856 forward were produced at the lower weight.

On the obverse a full-length representation of Liberty wears long, flowing robes and is seated on a rock, head turned back to her right. Her left arm is bent and holds a pole topped by a Liberty cap. The right arm extends down at her side, hand supporting a Union shield across which is a slightly curved banner displaying LIBERTY. The date is centered at the bottom, below the rock upon which Liberty rests, and is flanked on either side by a single short arrow pointing away from the date. Inside dentils along the raised rim, 13 stars form a partial circle, seven to the left of Liberty, one between Liberty’s head and the Liberty cap, and five to the right.

The reverse has a concentric circle formed by UNITED STATES OF AMERICA, broken at the bottom by the ribbon that ties the ends of two laurel branches. The branches form another circle inside the text, though the ends are slightly separated at the top, and in the center is the denomination of HALF DIME, each word on a separate line. A circle of dentils lies inside the raised rim. Arrows at Date half dimes were produced at Philadelphia and New Orleans each of the three years of the type; the O mintmark is located below DIME and above the bows of the ribbon.

Several hundred circulation strike Liberty Seated, Stars, Arrows at Date half dimes have been certified for most dates. Prices are moderate up to and including Gem, becoming expensive as Premium Gem and finer. The New Orleans issues, and particularly the 1855-O pieces, are more expensive with prices nearly double or triple those for coins minted at Philadelphia. Proof examples of the type are scarce or rare, and include a few pieces certified as Cameo. All proofs are expensive, becoming very expensive as Gem and finer. The 1853 proof half dime is very expensive at all grades.

Specifications:

Designer: Christian Gobrecht modified by Robert Ball Hughes and James B. Longacre, from a Titian Peale/ Thomas Sully design
Circulation Mintage: high 13,210,020 (1853), low 600,000 (1855-O)
Proof Mintage:high 20 (1854 and 1855, estimated), low 5 (1853, estimated)
Denomintion: $0.05 Five Cents, 05/100 Half Dime
Diameter: ±15.5 mm; reeded edge
Metal content: 90% silver, 10% copper
Weight: ±1.24 grams
Varieties: A very few known, most minor die variations.

Additional Resources :

CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 11/07/2008

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
After the weight of the half dime was reduced in 1853 (indicated by an arrow on either side of the date through 1855, then dropped from the motif), the design was unchanged until 1860. In that year Chief Engraver James B. Longacre replaced the thirteen obverse stars with UNITED STATES OF AMERICA, and replaced the simple laurel reverse wreath with a more detailed cereal wreath. An additional change was not one of design but of production. The last New Orleans half dimes were minted in 1860, a year before the formation of the Confederacy and the outbreak of the Civil War; and starting in 1863 and for every year thereafter, except one, half dimes were minted at the San Francisco branch mint.

The San Francisco Mint had dies available to produce half dimes in 1870, but none were struck according to official records. However, collectors were surprised by the discovery of an 1870-S half dime in the late 1970s. Apparently purchased from a “junk box”, or over-the-counter as a common type coin from an Illinois dealer (accounts differ), the half dime was displayed at the 1978 American Numismatic Association convention. It is also possible but not established that another 1870-S half dime may be in the cornerstone of the second San Francisco Mint building, along with other San Francisco Mint 1870-dated coins that were known to have been placed there.

Other half dime oddities, rare but not unique, are pieces made in 1859 and 1860 by Anthony C. Paquet. These pieces combine a hollow-center Stars obverse with the laurel reverse (1859) and the new cereal-wreath reverse (1860). Paquet’s samples have been called both transitional and fantasy pieces, not intended to circulate, but produced either as patterns to test the coming new design or minted for personal reasons by the Mint Director. Half dimes were not listed as an authorized issue in the Coinage Act of 1873, which effectively ended the denomination after nearly eighty years of production.

On the obverse a full-length representation of Liberty wears long, flowing robes and is seated on a rock, head turned back to her right. Her left arm is bent and holds a pole topped by a Liberty cap. The right arm extends down at her side, hand supporting a Union shield across which is a slightly curved banner displaying LIBERTY. The date is centered at the bottom, below the rock upon which Liberty rests. Inside dentils along the raised rim is the legend UNITED STATES OF AMERICA, split UNITED STATES to the left of Liberty and OF AMERICA to the right.

The reverse has a concentric circle of dentils inside a raised rim, within which is another circle formed by an elaborate wreath comprised of leaves and seed heads of corn, wheat, oak, and maple (no maple seeds are apparent). A ribbon ties the ends of the plants at the bottom, and there is a slight gap between the seed heads at the top, though two leaves cross to complete the enclosure around the denomination HALF DIME, each word on a separate line. Legend half dimes were produced at Philadelphia (all years), New Orleans (1860), and San Francisco (1863-1873). The S and O mintmarks are at the bottom below the wreath, though S mintmarks from 1870 through early 1872 appear within the wreath, above the bow and below DIME.

Several hundred circulation strike Liberty Seated, Legend half dimes have been certified for most dates, including a few prooflike pieces, though fewer from the mid-1860s through the end of that decade. Prices are moderate through Gem grades and finer for many dates, though expensive at Superb Gem. Higher prices are listed for the 1861/0, and coins minted from 1863 through 1867. The only known 1870-S coin would likely sell for well over a million dollars, perhaps much higher, if placed on the market today. A few hundred proof Legend half dimes have been certified, including Cameo and Deep Cameo pieces. Prices are fairly uniform and moderate for all dates up to Gem, expensive finer. Cameo and Deep Cameo pieces have slightly higher premiums.

Specifications:

Designer: Christian Gobrecht modified by Robert Ball Hughes and James B. Longacre (reverse by Longacre), from a Titian Peale/ Thomas Sully design
Circulation Mintage: high 3,360,000 (1861), low 8,000 (1867; none reportedly minted at San Francisco in 1870, but one example is known)
Proof Mintage: high 1,000 (1860, 1861, and 1870), low 460 (1863)
Denomintion: $0.05 Five Cents, 05/100 Half Dime
Diameter: ±15.5 mm; reeded edge
Metal content: 90% silver, 10% copper
Weight: ±1.24 grams
Varieties: A few known, including 1859 and 1860 Hollow Stars transitional pieces, 1861 1 over 0, 1872-S Mintmark Above and Mintmark Below, and other minor die variations.

Additional Resources :

CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 11/07/2008