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As a part of the May Long Beach Signature Auction, Heritage is offering the finest known O-118 variety of the 1825 half dollar - a newly discovered example and one of only three R.8 varieties within the entire Capped Bust half series.
The 1825 Overton-118 is identified by a heavy vertical die break between the 25 in the date. Two Bust half experts, Glenn Peterson and Brad Karoleff, believe the break occurred during hardening of the die prior to use. This die break undoubtedly led to early disposal of the obverse die. The reverse die continued in use, paired with a different obverse to strike O-103. The workhorse reverse die earlier struck the 1824 O-116.
Just three examples of O-118 are known. Al Overton, who died in 1972, was unaware of the variety. According to an April 7, 2008 Coin World article, the discovery piece was found at an Oregon coin shop by Olin Carter, circa 1983. Per Capped Bust authority Sheridan Downey, “it is the Overton plate coin, graded Fine for sharpness but with dull, washed out surfaces.”
The second O-118 to surface was sold unattributed within a group lot to Charles Erb, circa 1990. Erb’s example found its way to Charlton “Swampy” Meyer Jr., who owned the most complete die variety collection of Capped Bust halves. According to Downey and Coin World, that example “grades VF with attractive album toning on the obverse. The reverse is lightly wiped.”
The April 7 Coin World article states, “based on the conditions of the other two examples of the variety, the new discovery [of O-118] would be the finest known… Sheridan Downey believes the new discovery … could bring from $75,000 to $100,000.”
The present piece, the third known O-118 1825 half, has been graded VF20 by ANACS and displays deep apple-green and gunmetal-gray toning. The fields are slightly glossy and exhibit a few hair-thin marks, made nearly imperceptible by the toning. A thin, slender mark near the ear is also unobtrusive. Wear is even and moderate, with ample plumage definition present on the eagle.
To the best of Heritage’s knowledge, this is the first major auction appearance for the variety, which was absent from the extensive and formidable die variety collections of Jules Reiver and Russell Logan. The next owner of this coin may hold it for many years, then sell it privately or even donate it to a museum and permanently take it off the market. The opportunity to acquire an O-118 1825 at public auction is here, but fleeting.
Rather, our $5, $10 and $20 bills and our coins have suffered a severe drop in quality when considered as art.
By Larry Edelson
For the third fiscal quarter of 2008, the Company reported net revenues of $10.9 million and a loss from continuing operations of $966,000, or $0.11 per diluted share. This compares to net revenues of $11.1 million and a loss from continuing operations of $68,000 or $0.01 per diluted share, for the third fiscal quarter of 2007. Results for the third quarter of fiscal 2008 reflect lower coin trade show revenues of approximately $950,000, reflecting one less trade show and more challenging conditions for trade show gold coin submissions in the quarter, due primarily to the rapid increase in gold bullion prices.
IRVINE, Calif. – Teletrade, America’s largest fully automated Internet auction company for certified coins and currency, will auction “The Green Holder Collection” on Sunday, June 1, 2008, in online Auction #2536. The auction will be live at www.teletrade.com from 3 p.m. to 10 p.m. eastern time and will include more than 1,500 certified coin lots. The complete catalog will be viewable on the Teletrade website beginning Friday, May 23. Highlights from “The Green Holder Collection” will be on display at the Long Beach Expo May 29-31 at table 427.
