Pinnacle Rarities is proud to announce the private treaty sale of the finest known 1921-S Walking Liberty half. The coin is graded MS66 and is the single finest graded at PCGS. The 1921-S is by far the rarest Walking Liberty half in the uncirculated grades, and is very elusive in the top gem grades.

Most of the early Walkers are tough, especially in gem or better. With the end of WWI, the early twenties saw a decrease in demand for circulating coinage. As such, the mintage figures for 1921 are low. The years surrounding the end of the war produced the series’ most prized dates.

For 1921 all three mint marks are elusive, and despite the slightly higher mintage from San Francisco, the bulk of them were heavily circulated or lost to attrition. Today surviving quality examples are scarce, Coinfacts gives this date a 9.1 in MS65 on a rarity scale of 1 – 10.

In relation to the other series keys, the 1921-S has a bit higher mintage. The lower circulated grades are more available than some more common dates. But as the condition reaches the extra-fine (XF) level, the date becomes increasingly tough. No date in the series has fewer coins graded in the uncirculated grades. Nothing is even close.

The 1919-D is considered by some the King of the Walker series. However, there are just 202 1921-S coins graded in the uncirculated grades and the next closest is the 19-D with 344. So, there are 142 more 19-D halves grading in MS60 or better then there are uncirculated 21-S halves.

In fact, Jeff Ambio author of Collecting & Strategies for Walking Liberty Half Dollars agrees, describing the date as “the rarest Walking Liberty Half in Mint State, (with) Choice examples having tremendous appeal in virtually any numismatic market.”

At Pinnacle Rarities, nothing gets sold on our website that we don’t want to buy back. Pinnacle Rarities takes pride in the fact that after decades of placing some of numismatic’s finest material, many of these rarities come back through our offices. This is a prime example. We have been lucky enough to trade this coin several times. We originally purchased this example from late numismatic icon – Jack Lee. We then placed it into the PCGS Hall of Fame GBW Collection. Although retired, that set still ranks as the all-time finest.

In 2004, we were fortunate enough to buy that collection. We again sold this example privately. When it was time to sell, that collector knew to call us first. And again, we found it a home in a very astute collector’s cabinet. We are unlikely to see this superb example again anytime soon. But rest assured, it has found a good home – no a GREAT home.

The coin has fabulous in hand eye appeal. It is the sharpest struck 1921-S example we’ve encountered. While there is some weakness evident in the central devices, it has great detail with good hand definition and crisp eagle leg feathers. The surfaces are extremely clean with only a couple light hits on the obverse.

The reverse is faultless. Some light toning in the peripheries provides a pleasing palette of color represented along the rims. This coin has been the centerpiece to every collection it’s been in, and will likely never find an equal.

Related posts:

1. Pinnacle Rarities Acquires NGC Registry’s Finest Ranked Type Set
2. True Rarities Brighten Gloomy Baltimore – Pinnacle Rarities Market Report
3. THE TOP TEN RAREST LIBERTY HEAD HALF EAGLES

In part 1, I introduced Dr. Duckor’s set of Barber Halves, mentioned the last two coins that he added, focused on his 1904-S half, and discussed the building of his set of Barber halves. Here in part 2, the historical and cultural importance of this set will be analyzed, with references to other landmark sets of Barber Halves. In my last weekly column, on Wed. Aug 4th, I discussed two other halves in Dr. Duckor’s set, both of which were previously in the Thaine Price collection, his 1893-O and 1895-S. (As usual, clickable links are in blue.)

IV. Gem Sets of Business Strike Barbers

Only a small number of collectors have attempted to assemble a set of gem quality Barber Half Dollars. These were minted from 1892 to 1915. Barber Dimes and Quarters were also first minted in 1892, though these continued until 1916. In low grades, Good-04 to Fine-12, a set of Barber Halves is easy to complete. Without consideration of the 1892 Micro O variety, Numismedia.com suggests that a whole set, in Good-04 grade, could be assembled for around $2500.

Generally, many collectors choose Barber Halves over Barber Quarters because a set of Barber Halves is easier to complete. An 1896-S quarter may cost as much as $1000 in Good condition, while a 1901-S quarter could easily cost more than $5000. So, kids and other beginners are often discouraged from Barber Quarters because they are concerned that they will never be able to complete a set. In grades of MS-65 and higher, though, Barber Halves are much more expensive than the quarters overall.

In many instances, when a collector becomes wealthy, he (or she) returns to some of the series that he collected when he had far less money, often to coin types that he collected as a kid or as a relatively young adult. As sets of circulated Barber Halves have been completed by so many collectors, I am surprised that so few advanced, wealthy collectors have sought to complete sets of gem quality Barber Halves. Such a quest may be very exciting.

Yes, gem quality Barber Halves have been worth significant sums of money since the late 1980s. From then to the present, however, it has often been type coin collectors and speculators that have demanded gem quality Barber Halves. Over the last century, there have been very few collectors, who strongly focused upon completing sets of gem quality, business strike Barber coins.

A perusal of catalogues of auctions of especially great collections from the 1940s to the 1970s demonstrates that minimal attention was given to Barber Halves. It seems that, in decades past, collectors of half dollars felt an obligation to include Barber Halves because traditional rules stipulate that a collection of classic half dollars should include all the dates that the respective collector could afford. In the traditions of coin collecting in the U.S., completion is a value of a high order.

Only in rare instances was a collection of business strike Barber Halves a focus. In addition to being the foremost researcher of U.S. Patterns, Saul Teichman has engaged in a tremendous amount of general research regarding great collections. “One point to remember is that Barber Halves were no big deal in the 1960s and early 1970s,” Teichman remarks, “many of these were under $100 in gem grade back then.”

Several of those who built the greatest U.S. coin collections of all time did, in fact, very much appreciate Barber Halves. Their respective collections featured numerous gem quality Barber Halves.

V. Business Strike and Proofs in Different Sets

As is widely known and is indisputable, Louis Eliasberg formed the greatest collection of U.S. coins of all time. He was not, though, a connoisseur of Barber coins. Most of the pre-1917 silver coins in the Eliasberg collection that now grade from 66 to 68 came from the Clapp collection, which Eliasberg purchased intact in 1942. In a sense, the Clapps were a father-son collecting team, though I am not sure of the extent to which they collected together. Both were named John.

A large number of the coins in the Clapp collection were obtained directly from the Mints when these, respectively, were issued. Additionally, gem quality coins were acquired by the Clapps at major auctions or from leading dealers of their eras. In the early 1900s, it would have made sense to acquire Barber coins from the Mints and/or from dealers who had connections with U.S. Mint officials. The Barber coins in the Clapp collection were largely acquired in this manner and, another famous collector, S. Benton Emery, also acquired Barber coins directly from the Mints.

The Emery-Nichols collection was auctioned in New York by Bowers & Merena (of New Hampshire) in 1984. David Akers attended the sale and bought many Barber Halves, a good number of which he later sold to Dr. Duckor. He sold others to Thaine Price. Like most collectors active at any point from the 1860s to the late 1980s, Emery and the Clapps preferred Proofs to business strikes, and, when a Proof of a date was available, the Proof was chosen, and a business strike of the same type and date was not then obtained. It was not unusual for a Proof of a higher grade to replace a business strike of a lower grade, in a collection.

While I maintain that mixing Proofs and business strikes in the same set makes logical sense, I acknowledge that coin collecting traditions in this regard have changed. Really, there has been a change in the pertinent cultural rule.

In most PCGS and NGC registry sets, it is not permissible to mix Proofs and business strikes in the same sets. Heritage places Proofs and business strikes in different runs in this firm’s auction catalogues. Usually in Heritage catalogues, the business strikes of a certain denomination are auctioned first and then, secondly, the Proofs.

When DLRC auctioned the epic Richmond collection in 2004 and 2005, Proofs and business strikes of the same type were catalogued as separate subcollections. The Richmond Proof Liberty Seated Halves, for example, were not offered until all the Richmond collection, business strike Liberty Seated Halves were sold.

“As for old time collections, most of them included proofs of the P mint coins. The idea of having both proof and unc p-mints” in the same collection “is a relatively modern one, which is encouraged by the [leading grading] services,” Saul Teichman states. His research supports my point in this section.

B&M, Stack’s and the Goldbergs, in contrast, have maintained the tradition of listing Proofs and business strikes together. In their catalogues, for example, of any type, a 1907 Proof and a 1907 business strike would both follow a 1906-S and appear before a 1907-D. I am not assuming that these three firms are encouraging collectors to include Proofs and business strikes in the same sets, though they are certainly not discouraging this traditional practice.

Is there a compelling right or wrong answer to the question of whether collecting Proofs and business strikes of the same type should be considered very distinct (and logically separate) objectives? No, though it is clear that there has been a change in tradition. I respect the relatively new tradition, though I do not completely agree with it. Dr. Duckor certainly believes the collecting of Proofs and business strikes are two completely different pursuits and he strongly favors the collecting of business strikes, not just for Barber coins, but in general.

It is true that a very large percentage of business strikes (though not all) were struck for actual circulation, while Proofs were struck for other reasons. (It has long been argued that some Proof Gobrecht silver dollars were struck for circulation, though relatively recent research has called this theorem into question by challenging the Proof status of the Gobrecht dollars that have been documented as having been made for circulation.)

So, the fact that Emery and Eliasberg preferred Proofs, as did the Norwebs, is the main reason why their respective collections did not contain excellent runs of Philadelphia Mint, business strike Barber halves. Largely because of this point, the Emery-Nichols and Clapp-Eliasberg holdings did not contain the two finest sets of business strike Barber Halves. The Norwebs had some terrific Barber Halves, both Proofs and business strikes, but the Norwebs also had some really mediocre Barber halves as well.

It is clear that the Norwebs never thought of Barber Halves as a priority or as an important component of the overall Norweb collection. If they did, they could easily have obtained gem quality representatives of all dates, especially during the 1950s when they were very seriously acquiring high quality coins and greatly enhancing their family collection.

VI. Originality

When Dr. Duckor evaluates collections, he does not only consider how the PCGS has, or would, grade the coins included. Dr. Duckor, as do I, places tremendous emphasis on originality. Please see my three part series on collecting naturally toned coins, in which Dr. Duckor and other sophisticated experts are quoted [Part 1, Part 2, and Part 3]. Advanced, knowledgeable collectors generally place a higher emphasis on originality than do the leading grading services, though the PCGS and the NGC usually weigh originality as a strong positive when evaluating individual coins.

Dr. Duckor strives to find coins that have never been cleaned or dipped, and feature natural toning. Charles Browne is currently a PCGS grader, and he served as a grading expert for several coin firms during the course of his career, which has lasted more than thirty years. He has participated in innumerable major auctions. Browne declares that “Duckor has a wonderful eye” and has “formed very, very excellent collections,” which are strongly characterized by “naturalness”!

In contrast, both the PCGS and the NGC will often assign gem quality grades (65 and higher) to silver coins that have been obviously and sometimes blatantly dipped. The term ‘dip’ refers to the immersion of a coin in an acidic solution for the purpose of tearing a layer of metal off the coin, usually with the intention of brightening the coin and/or removing toning.

So, when Dr. Duckor interprets collections, he is weighing originality more heavily than does the PCGS and especially the NGC. He is, therefore, not assuming that a coin with a higher certified grade is of higher quality than a coin with a lower certified grade. Also, when analyzing collections of Barber Halves, Dr. Duckor is focusing on business strikes and not considering Proofs.

VI. Best Collections of Barber Halves

In Dr. Duckor’s analysis, the all-time best collections of business strike Barber Half Dollars are: 1) Duckor, 2) Thaine Price, 3) Dale Friend, 4) Hugon, 5) Eliasberg, 6) Emery-Nichols, and 7) Norweb. “The first three are easy” to perceive, Duckor states, partly because these each contain some of the best halves from the following four.

I (this writer) maintain that Hugon’s set of business strike Barber Halves was much better than Dale Friend’s set. Hopefully, someday, I will publish coin-by-coin analyses of these sets, with opinions from several experts. Further, if Proofs were considered along business strikes, with a one grade-increment (or even a two grade) discount, Eliasberg’s set would certainly rank higher than number five. A discount may be logical, as for several dates of Barber Halves, gem quality Proofs are much less rare than corresponding gem quality business strikes. As the Clapps, Eliasberg, and Emery never really intended to acquire superb Philadelphia Mint business strike Barber Halves, and they followed the rules that governed coin collecting before the 1980s, it seems illogical to punish them for not having superb Philadelphia Mint business strike Barber Halves.

Nonetheless, Dr. Duckor emphasizes that the Duckor, Friend, Price and Hugon collections feature “non-Proof P Mint coins” that are carefully selected and impressive. I (this writer) wish to point out that the Eliasberg, Emery-Nichols and Norweb collections contained some really awestriking Proof Barber Halves.

Hugon had both business strikes and Proofs for all three Barber denominations, dimes, quarters and halves. Heritage auctioned Hugon’s Barbers on Jan. 12, 2005, in Orlando.

Dr. Duckor regards Hugon’s halves as “the weakest of his Barber collection.” In Duckor’s opinion, many of Hugon’s halves were “overgraded.” I was far more impressed by Hugon’s halves than was Dr. Duckor. Further, while Dale Friend had some marvelous Barber Halves, he also had some mediocre ones. In my view, too many of Friend’s halves had been apparently dipped. While a coin by coin comparison of the Hugon and Dale Friend sets would be besides the present topic, it would be interesting.

After Hugon, Dr. Duckor declares that the “Eliasberg collection would come next. Eliasberg’s Barbers were great.” Unfortunately, from Duckor’s perspective, “Eliasberg’s Philadelphia Mint [Barber Halves] were all Proof. Gem Mint State P Mints are VERY HARD to acquire; the 1900 to 1905 P Mint [Barbers] are especially difficult!” It may require years for a collector to find exceptional gem quality business strikes of some of the Philadelphia Mint dates from the early 1900s.

As for the “Emery-Nichols collection, the halves of 1892 and 1893 are circulated and some of the [other] dates like 1900-0 and 1895-S are circ.” as well, Duckor explains. “True, starting in 1901 and until 1914, Emery-Nichols coins were gotten from the mint directly,” Duckor emphasizes.

Charles Browne participated in the Emery-Nichols sale in 1984. He found many of the coins to be gems. Among business strikes, Browne regarded the 1897-S, 1898-S and 1906-S, in particular, to be “superb”! Overall, “what” Browne “remember[s] most about this sale is that the coins were just gorgeous!”

“Lastly would be the Norweb collection,” states Dr. Duckor, mostly because it is “not a complete set of Barber Halves … True, the Norweb collection had some really superb Barber Halves.” Dr. Duckor declares, though, that all seven of these sets of Barber Halves “are great. The Norweb [set] may be at the bottom of the list, but only [because it is] not complete.”

I wonder if the David Queller and James A. Stack, Sr. sets of Barber Halves deserve a little more credit than Duckor gives them. Duckor states that the James A. Stack. Sr. set had “only a handful of nice coins” and that Queller had “a small number of gems.” While Duckor’s points are clearly true, some of the Queller Barber Halves and more than a few of the J. A. Stack Barber Halves were tremendous, including some key dates.

I have noticed that when Barber halves, which were previously in the James A. Stack, Sr. collection, appeared at auction over the years, these have realized prices that suggest that bidders regarded them as superb gems and/or coins with tremendous aesthetic appeal.

As an example, consider the James A. Stack 1901-O that was in the George Byers collection of half dollars, which Stack’s auctioned in 2006. It was then not certified. I saw it. It was an awesome coin. I graded it as 66+ overall, though it had the ‘look’ of a higher grade coin at first glance. Bidding started at around $8500 and went wild. It eventually sold to a prominent collector for around $32,000. Stewart Blay, a leading grading expert and accomplished Barber coin collector, was the underbidder.

Stack’s auctioned the James A. Stack, Sr. collection in parts over a period of around twenty years. It is just a coincidence that this collector and the family that owned the auction house had the same last name. His quarters and halves were sold in March 1975. Among Barber halves, while some of the scarcer dates would grade from MS-65 to MS-67 by current standards, others were not of exceptional quality. Many coins were graded “Very Fine,” including the 1896, 1897, and 1897-O. The 1896-O and 1897-S were graded as “Fine to Very Fine.” Indeed, the James A. Stack 1904-O was catalogued as being “Very Fine, lightly polished.”

Granted, there is ample evidence in the catalogue to prove Dr. Duckor’s point that this set of Barber Halves was not exemplary. It is true, however, that many of these Barber Halves had little value in the 1940s when J. A. Stack, Sr. was most actively collecting, and it is widely believed that he could have easily obtained choice or gem uncirculated representatives of most all dates.

In my view, the presence of so many gems among J. A. Stack’s Barber Halves, especially of better dates, is important, especially since non-key date Barber Halves had so little value in the middle of the 20th century. He perceived quality and condition rarity in this series more so than most other advanced collectors who were active in the 1940s.

A phenomenal collection of U.S. copper and silver coins was auctioned in the spring of 1965. It belonged to A. B. Hinman, though is name is not mentioned in the catalogue. It was replete with rarities, like an 1894-S dime, an 1876-CC Twenty Cent piece, an 1817/4 half, and an 1838-O half, plus 1823/2, 1827 and 1842 ‘Small Date’ quarters. Hinman emphasized completion, not quality, and his set of Barber Halves was not impressive. It seemed like an afterthought. The impression is clearly given that he, and/or an advisor, put much more time and effort into his collection of Walking Liberty Half Dollars.

The Clapp-Eliasberg, Emery-Nichols and Norweb collections could not have contained the only sets, assembled before 1970, which featured numerous gem quality Branch Mint Barber Halves. Is there evidence of another? Yes, I found one, by accident. While researching Proof 1804 Eagles for my weekly column of July 28th, I read the catalogue of the Farish Baldenhofer collection, which Stack’s auctioned in 1955.

Sure enough, circumstantial evidence suggests that Baldenhofer may have had a terrific collection of Branch Mint Barber Halves, perhaps the greatest to be sold at auction before the 1980s. Many of these halves are catalogued, presumably by Norman Stack, as being gems. The Baldenhofer 1896-O is said to be a “Perfect Brilliant Uncirculated Gem.” The Baldenhofer 1904-S is termed “Brilliant Uncirculated Gem” and “Extremely Rare”! It is fascinating that the cataloguer is obviously referring to a condition rarity, in 1955, as he must have known that no date in the Barber Half series is truly rare in absolute terms.

I have read dozens of catalogue entries written by Norman Stack and I have seen a sizeable number of newsworthy coins that he catalogued. A few of Baldenhofer’s Barber Halves may not even grade 60 by today’s standards. It is very plausible and perhaps likely, however, that many of them would grade from MS-65 to -68.

As with the text in the catalogue of Hinman’s “Century Collection,” the text in the Baldenhofer catalogue (pp. 35-36) clearly implies that Baldenhofer placed far more time, effort and emotion into collecting Walkers than Barber Halves. The fact that the Norweb collection of Barber Halves had some circulated coins and some gaps, too, suggests that the Norwebs did not regard Barber Halves as being very important. It is curious that Baldenhofer, the Norwebs, Hinman and so many others did not cherish Barber Halves and even placed more emphasis on Walkers, which are dated later and are certainly not rare.

In the 1990s, collectors appreciated and strongly demanded Philadelphia Mint business strikes in many series of 19th century coins. Certainly, collecting high grade Barbers became more popular in the 1990s than ever before, and continues to be popular in the 21st century. (See my recent article on the highest certified 1901-S quarter.) Gem Barber coins, though, did not rise in value as much as other high quality coins during the ‘boom’ from 2002 or so to the middle of 2008. Also, consider that both Dr. Duckor and Thaine Price were strongly encouraged to collect gem quality Barber Halves by David Akers. Supposing that they had not been so influenced, how many collectors would have sharply focused on gem quality business strike Barber Halves?

Since 2008, buyers of high quality coins have been far more interested in pre-1934 gold coins, and in pre-1840 coins of all metals, than in Barbers. I will be observing how gem Barbers fare this month and in the future.

Bidding activity was exceptional and intense when Dale Friend’s Barber Halves were auctioned in Jan. 2009, and Dr. Duckor’s set, in my view, is dramatically superior to that of Dale Friend. There must be quiet enthusiasts for gem quality, business strike Barber Halves. I wonder, though, if anyone will ever assemble such a set that rivals that of Dr. Duckor.

©2010 Greg Reynolds

Related posts:

1. All-Time Greatest Collection of Barber Half Dollars to be Auctioned in Boston, Part 1
2. Dr. Duckor’s Barber Quarter Coin Collection to be Auctioned
3. Coin Rarities & Related Topics: Specimen 1853-O Eagle, Duckor-Price 1893-O and 1895-S Barber Half Dollars

Collecting seated coins can be fun, rewarding, and above all very challenging. Not many people can afford both the time and cost to search, find, and have the opportunity to buy the hard to find coins which are included in every seated series due to the many dates and mintmarks included in the series. Examples could be the 1878-S half dollar and various Carson City coins. These coins, “stoppers” as they are called, are expensive and very hard to find, often causing collectors to fail in their final goal of completing a series they have specialized in for a long time.

Although I love seated coins, as a 19 year old I just can’t afford to complete any of the seated series in the grades I like, mainly AU50 to MS64 or higher in as original condition as I can find them. Of course, I might be able to buy those coins later in my life but I am not really the person who has the patience to buy coins for a set I know won’t be complete within an acceptable period time (“acceptable” for me is 8-10 years).

As you might guess, I had to find a solution. So, after buying my first certified seated coin (and my first seated coin anyway), which happened to be a wonderful and very original PCGS MS64 1871 Half Dime, I decided to try a very complete type set, with every single type in there (including coins with different weights but the same design). After buying my second Half Dime (1843 PCGS MS63 which after studying proved to be V-6a, the well-known repunched date) before buying any other seated coin, I got hooked to that series.

Yet, I already knew that the series was not possible to complete in both the time period in those grades I had in mind. So I searched for other solutions, with one of them described in this article: collecting the date-set; each date just one time without paying attention to mint marks. This technique is affordable and possible to complete, even for me with a limited budget.

In this article, all seated series, with the exception of the 20-cent series and the Trade Dollar (a series I personally do not consider a real seated type coin), are discussed. The 20-cent series is relatively easy but not fun to complete with only two business strike dates. Thus, for now, it is not included in this article. I will shortly describe the coins in the set and the difficulty of completing a date-set. For the first series of the seated type, this article will start with the highest denomination in the series, the Silver Dollar.

Collecting Seated Silver Dollars by Date-Only

The largest Silver denomination ever struck in the United States for circulation is the well known Silver Dollar. In the seated series, besides being the largest coin in both diameter (38.1 mm) and weight (412.5 grains and a silver fineness of .900), it is also the shortest series of the seated type. Excluding the Gobrecht Dollars which were first struck in 1836, these were first struck in 1840. Although technically the Gobrecht Dollars are not patterns (but there is a raging debate among dollar experts on this), I’ve decided not to include them here due to the extreme rarity and the few issues. Three years after the completed and “final” design was first used on half dimes and dimes, the first Liberty Seated Silver Dollars were struck at the Philadelphia Mint. Together with the 2 cent, 3 cent and half dime (see below) pieces, it was discontinued by the Coinage Act of February 12, 1873 . In 33 years, coins of this type were minted at the Philadelphia, San Francisco, New Orleans, and Carson City Mints, creating several rare dates but, also for the date-only collector, possibilities to choose from fitting their budget.

The first five years of its life, the Liberty Seated Dollar was solely struck at the Philadelphia Mint, giving any collector a limited choice. The first branch Mint issue is the 1846-O with a mintage of 59,000 pieces, which in very low grades does not command too much premium over a “common” Philadelphia Mint coin. In higher grades, this certainly is an issue the collector should choose to include in his collection as the first Silver Dollar struck at any branch Mint.

The next few years again were not minted at the New Orleans Mint (the only branch Mint for silver coins in use at the time as both Charlotte and Dahlonega limited their production to gold coins), so there is a limited choice again. In 1850, the New Orleans Mint again struck silver dollars in good quantities, with the result that lower grade pieces now actually will cost less than their Philadelphia counterparts. In higher grades though, most collectors will choose to include a Philadelphia Mint in their collection to save money for other coins. Two of those most important other coins are the stoppers for the one-per-date (as NGC calls the sets at their registry) sets. Very limited mintages at the Philadelphia Mint and no branch Mint coins in 1851 (1,300 original pieces) and 1852 (1,100 original pieces) cause these dates to be the most difficult to find. Nice EF-AU pieces certified by any of the top grading company’s will cost anything from $12,500 up to $30,000. Restrikes exist in proof only, but will cost the same as any original issue in both circulation strike and proof format.

The scenario of no branch Mint silver dollars again occurs until 1859, when a new branch Mint opened in 1854 starts to strike silver dollars: the San Francisco Mint. These issues could be easily ranked with the San Francisco issue the scarcest, being rare in full Mint state. The Philadelphia issue comes in second, and surprisingly, the New Orleans issue is the most common of the trio until MS64. In full gem, the Philadelphia issue is more common because more coins from that Mint were saved by collectors who bought them at the Mint or at banks in the area. The 1858 was only struck in proof format with a total mintage of approximately 300 pieces. Of course, every collector should choose what to include in their collections, but in the author’s opinion, a normal circulation strike set does not need to include the rare and expensive 1858.

The New Orleans Mint struck silver dollars for the last time in 1860, a year before the Mint was closed by the Confederacy. The issue is not scarce at all (with a mintage of 515,000 pieces); in fact, it is in most grades cheaper than its Philadelphia counterpart. Many collectors choose to include this issue in their sets, not only because of the price but also from a historic perspective.

All other dates in the 1860s are only available from the Philadelphia Mint, with most issues relatively common except the 1861 and 1862, which are somewhat scarce in comparison of other dates in the era, especially in high grades.

The fun for collectors starts again in 1870, when another branch Mint was opened in the small city of Carson City, Nevada. A historic and popular Mint to collectors, the mintages of silver dollars were small, this being specifically true for seated silver dollars. Because of its popularity, the coins bring a strong premium over a Philadelphia silver dollar, with the historic minded collector leaving a choice open to spend more for a historic piece. Carson City was founded in 1858 by Abraham Curry. Back then, the state of Nevada did not exist. It was a region within the Utah territory which was established by US Congress in 1850 and Nevada did not join the Union until 6 years later, in 1864. Abraham Curry came from Cleveland, Ohio and went west to start his own general merchandise store. His first attempt to negotiate with a landowner failed; soon he found that land prices in California were very high so he then decided to build his own city more to the east.

In early 1859, history was about to be made in what would later become the state of Nevada. Peter O’Riley and Patrick McLaughlin, two prospectors who almost wanted to give up the work, discovered a huge silver deposit on Mount Davidson at Washoe, 14 miles from Carson City. The land was claimed by Henry Comstock, who passed by the same day the ore was discovered. To avoid any trouble and lose everything, O’Riley and McLaughlin agreed to give Comstock a share of the claim. He sold his mining interests early for $20,000, a decision which soon seemed to be a big mistake.

After the first silver was discovered in the upcoming Nevada territory, Curry tried his luck and staked a claim on one of the highest ledges of the Comstock Lode. He merged his claim together with Alva Gould and the new mine was unveiled to the world as the Gould and Curry mine.

The Comstock Lode proved to be the biggest ore of silver ever discovered in the United States. Unfortunately, in the country founded only 80 years earlier, the people generally knew almost nothing about silver mining. In the gold mines near San Francisco, however, many Mexicans were working, many of whom had experience in silver mining in there own country. They were hired by the Americans, but it seemed that the old Mexican methods were too slow and new ways were soon founded. Only 6 months after the Gould and Curry mine was founded, Abraham Curry sold his interests in the mine for $2,000. He used the money to be reunited with his family, who were still living in Cleveland. The city of Carson was growing and Abraham Curry had influence and interest in almost everything in the city. He made the city larger, expanding it with a hotel and engine house for the local fire department and several other things for the local community.

Then, the idea of having a Mint and assay office in the area cropped up in the people minds in the early 1860s. The amount of silver and gold coming out of the mines was overwhelming and most was immediately transported to San Francisco, where it was used to mint coins of several denominations. When the bullion could be used in the state itself, it would remain in Nevada and have a very big influence in the upcoming state’s economics, necessary to become a state of importance like Abraham Curry wanted.

On March 2, 1861, Nevada, which name was shortened from the Spanish Sierra Nevada, was granted territorial status and became separated from the territory of Utah. On October 31, 1864, only eight days before the presidential selection, it became the 36th state of the United States of America. This was primarily done to help ensure the reelection of Abraham Lincoln and to keep the Republicans in dominance in Congress. From then on, Abraham Curry had another dream, as he wanted Carson City to became the capitol of Nevada. On the evening of September 24, 1866, ceremonies took place of lying the corner stone of what would become the building were the Carson City Mint would be situated. The Daily Appeal, a local newspaper reported: “There was a large attendance… the ceremonies were performed without interruption and they were quite impressive”.

After several years of building construction and with many problems, the obverse dies for the silver dollars arrived, dated 1869 and they were to await the reverse dies. These arrived a few weeks into the New Year; the 1869 dated obverse dies were useless and were destroyed without striking a single coin. The Mint did stand a major test when a giant earthquake hit the Carson Valley area on December 28. Many buildings were damaged but the Mint building was luckily enough not being among them and thus withstood its first major test.

The new Mint was located on Carson Street close to the centre of the city. On January 8, 1870, a year after the work should have been completed with the original planning, Superintendent of the Mint and founder of the city, Abraham Curry finally opened the US branch Mint in Carson City, Nevada. Four days later, the correctly dated dies arrived from Philadelphia and, on February 10, 1870, the first coins, 2,303 silver dollars, were produced.

The San Francisco Mint also started to strike silver dollars that year again, although the production was very, very limited. In total, only nine 1870-S silver dollars are currently known to exist, including one Mint State example currently in the Legend Collection of seated silver dollars (the only known full mint state collection of seated silver dollars ever completed).

In 1871, both Philadelphia and Carson City Mints struck seated silver dollars. Because of the rarity of the Carson City issue, most collectors will not include the issue with the famous CC mintmark. If you do want to include a Carson City Dollar in your set but do not want the “common” (common is very relative here), the 1871-CC is the second to best coin to choose. However, be prepared to pay a strong price in comparison with other dates in your set, especially so for premium pieces with original surfaces.

The same story applies for 1872, with the exception that the San Francisco Mint again started to strike silver dollars. Especially in higher grades, this coin is very scarce to rare and much more expensive in comparison with its Philadelphia counterpart . In fact, the 1872-CC is, in my opinion, the scarcest silver dollar struck at the Carson City Mint, despite its slightly higher mintage in comparison with the 1873- CC. The 1872-CC is very rare in the higher AU and even more so in true Mint State, fetching a lot of interest when it comes up for auction once in a few years or less frequently.

Although the reports say the 300,000 silver dollars were minted in San Francisco in 1873, none have ever turned up since the time of their minting. This leads to three possible theories: the first is that coins were accounted for in the annual report of the Mint as silver dollars but actually were half dollars or any other denomination. The second, more likely theory is that all coins were melted shortly after being minted and that none were ever released to the general public nor where any sent to the Mint Cabinet. A third possibility is that a single 1873-S seated silver dollar was sent to Philadelphia for assay. If this coin was not tested and not melted, it could, however unlikely, turn up. With the Carson City issue having the lowest mintage of any Carson City silver dollars (although the 1872-CC is scarcer), collectors again will most likely choose the Philadelphia example for their collection.

Collecting Seated Half Dollars by Date-only

Starting as a series one year earlier and ending 18 years later, seated half dollars are a much more expanded series than the silver dollars. These coins were struck continuously at the Philadelphia Mint in every year of its issue and at certain dates at the Mints of San Francisco, New Orleans, and Carson City.

Seated half dollars have been popular with collectors for a long period of time. Unfortunately, it’s like many other (if not all) seated series; nearly impossible to complete without very deep pockets and lots of time. The true key dates of the series, coins like 1853-O No Arrows, 1870-CC, and 1878-S hardly ever come up at auction and when they do they bring very strong prices, especially when in higher grades and problem free.

Again, the solution can be simple, very simple. Again with exception of the 1851 and 1852, all Philadelphia grades are very easy to complete with the two Philadelphia key dates being less expensive in the context of the series as is the case with the silver dollars. Of course, just buying the Philadelphia issues and skipping all the other ones is possible. But again, in this series, there are certainly branch Mint issues that do not command much of a premium over their Philadelphia counter-parts.

But first, let’s take another problem in account when collecting by date only. In the seated series, this will happen to all of them and it can be a big dilemma for the collector. During the 53 years the design was minted, several changes were made to denote changes to the silver value and the addition or change of several legends on the coin. This happened in several years and for half dollars – 1842 (Modified Reverse), 1853 (arrows & rays), 1854- 1855 (Arrows only), 1866 (Motto above eagle) and 1873-1874 (again Arrows). There wouldn’t be much of a problem when there was just one type minted in each year, but as you will probably know this has never really been the case. Most old style varieties were struck for a short period of time before the design changes became effective later in the year, often creating rare and hard to find coins. To the date-only collector the choice: to collect these or not to collect the rarer types.

I think this is certainly what makes coin collecting such a great hobby. You, the collector, can decide what or what not to include, regardless of what others or registry sets say. It is your choice and you are fully in charge. Although I’m sure others will disagree with me, just one (most likely the most common) type will do when collecting by date-only. When it comes to collecting Philadelphia Mint issues only, the task is not difficult. The 1880’s are interesting because not a single branch Mint half dollar was struck in that decade of industrial changes. With silver coinage circulating again after being out of it since 1862, all coins hoarded in that year came out of the closets again and there simply was no need for small silver coinage. In his Expert’s guide to collecting and investing in rare coins, Q. David Bowers clearly says why these coins were minted for circulation when they were not needed: “From 1879 onward, Liberty Seated half dollar Mintages were small. The reason any circulation strikes were made was that the Mint didn’t want to create rarities for numismatic speculation and investment profits”.

The highest mintage of the decade was achieved in 1888, with 12,833 coins struck in the year including 832 proof coins for collectors. These proof coins, of any denomination can be included in a series, and for some dates, that solution can be cheaper than collecting a rare circulation date which is virtually unknown or at least very rare in higher grades. Although an easy solution, I don’t collect this way as I don’t like an unmatched set with proof coins (although they are very interesting to collect in their own way). The circulation strikes of these dates were widely hoarded, and today there is not much difference in price between a fine and lower mint state piece. Get the best grade you can afford is the best thing here.

As I said, there are several possibilities for the date-only collector to collect several branch Mint issues for a not too high price. This way, the collector can also complete a short “sub-set” at the same time. For the New Orleans dates, the dates that first come to mind are those in the late 1850s and 1860s. As is different than with the silver dollars, the New Orleans Mint struck half dollars in 1861, creating a classic coin which certainly is a favorite for collectors. The total mintage, 2,532,633, includes only 330,000 pieces struck under the U.S. government, which has been the case all those years before. 1,240,000 pieces were struck under that State of Louisiana after it seceded from the Union and the other 962,633 were struck after Louisiana joined the Confederate States of America.

The same scenario is the case with Double Eagle gold coins. Researchers now believe that the time and government of striking of those $20 coins can be distinguished by die breaks on examples of that issue. Only in recent times, there has been a method found to do the same with the half dollar issue by seated half dollar expert RandyWiley, leaving it no longer just to your imagination under which government the seated half dollar you own was struck.

With the cause going back throughout the first part of the 19th century, this is one of many examples how America’s Greatest War (although bloody is a better word here) was fought between the Union and the Confederacy from 1861-1865. All these events had their influence on what coins were struck during a certain period and what mintages they had. Without many of these historic events which caused the Civil War, the history of United States coinage could have been completely different. The antebellum generation of America was at first primarily located in the east, where the first thirteen states founded the United States of America on July 4, 1776. Starting in the early 1800s, people left the safety of the eastern states and trekked westward to explore and to expand their horizon in the unsure and unsafe territories of the Indians and the Spanish.

These territories would someday become states when the US Army could win the wars, but the ”when” was not known to the ordinary people or the politicians. When it was finally done, a high price was paid to accomplish the final goal, but that was the way God wanted it and thus it happened Life for the antebellum generation was definitely not easy. Hard work was needed to make some sort of a living which would satisfy the needs of a family. But hard work did not always pay well, and even under those circumstances, most people enjoyed what they did as again, it was the way God had wanted it and nobody had the power to change the will of God.

“Liberty is what our fathers fought for, and now we must preserve it” was a commonly heard sentence on the streets where the workingmen stayed in the mid-19th century cities of America. But was it as easy as it is thought today to preserve that same Liberty? Certainly not; the expanding territory of the United States raised many political questions among the politicians of the day. One of the most important (but certainly not the only) and well known by today’s standards was slavery.

Slavery was generally accepted in the 19th century. But as the end of the first part of that same century approached rapidly, the slavery question became a more and more important part of the politics at the time, which was mainly ruled byWhigs and Democrats. The Whigs of those days are the Ancestors of the Republicans in modern times, although differences can certainly be found. With more states entering the United States of America, the variety of cultural and political ideas became larger and larger. Naturally, many political problems needed to be solved before the safety of Liberty could be fully guaranteed in every state of the Union. This only came after the Civil War of 1861-1865, when as commonly heard today, the Union fought for Liberty and the Confederates for Slavery. As always, there are many different versions of the story which I can’t cover here without making this a long narrative which is about anything but seated coinage. I brought this up because these unsure times and fights for Liberty influenced many people’s lives in 19th century America, both before and after the Civil War. One of those was the use of coins and paper money in commerce; so here we are again back on the subject.

When including a San Francisco issue in your date-only set, the main choice will be any of the 1860s dates not commanding much premium over a common Philadelphia coin of the era. A second choice could be the 1855-S. Although this coin is quite scarce in the AU grades and even more so in Mint State, it is more or less affordable in lower circulated grades, although still being about 20 times more expensive as a Philadelphia or New Orleans issue. The reason that I do choose this coin to be highlighted in this article is both its relatively low mintage (211,000 pieces) and it being first half dollar and silver issue struck at this Mint. The San Francisco Mint had opened a year earlier, in the middle of the California gold rush. During its first year of operation the production was just limited to gold coins (as could be expected in a gold rush area) but silver production started a year later. When holding such a coin, one can only imagine what that exact same coin must have seen in his early life.

Last but not least is the Carson City Mint.

This Mint in Nevada struck coins from 1870 to 1885 and again from 1889 to 1893 as I have noted in the silver dollar section of this article. The half dollar production was limited from 1870 to 1878 producing a total of 10 different issues (when both 1873-CC with and without arrows are taking into account). Although most of those are quite scarce, the trio of 1875-CC, 1876-CC and 1877-CC half dollars are affordable and a great addition to any collection. Production of half dollars was stopped and never resumed at the Carson City Mint from 1878 onwards. Most of the Minting facilities were needed for silver dollar production of the Morgan design and all the silver flooding from the Comstock Lode.

To be Continued next month…

(Editor: I thought this article was very interesting, informative, and very advanced for a young collector living in the Netherlands. I, therefore, asked Dennis to write a short numismatic autobiography so that others could appreciate his background.)

I’ve been interested in numismatics for quite a long time, as per my age. I got interested in them when I was 8 or so, and started up building a small “collection,” with accumulation being a better word of coins from around the word I got from family members coming back from vacation. This went on until I was 13 or so, when I finally got into coins more seriously. I decided to start buying what I considered nice coins from my home country, the Netherlands, and did this for a few years. However, I was soon bored with the present state of Dutch numismatics and decided to try something else. I had narrowed the choices down at one point to Roman Imperial coins and US coins. Being a sort of history geek and, with a long-lived interest in anything from the United States, I choose the latter.

I soon got on the internet forum (Collectors Universe from PCGS) and, from that point on, I was on my way. I decided to sell of most of my collection, although there was nothing special in it. I kept a few special items, like my first 19th century coin which got me into coin collection when it was given to me by my grandmother.

At one point, after posting on that forum for quite a long time and learning very much about all sorts of US coins without ever being in the country itself (something which is still the case unfortunately), there was some sort of competition by another member. The task was to write an article about coins, and as it goes with a competition there were some nice prizes. I started writing, with my article focusing on US patterns, an area of numismatics so out of reach for my budget wise but very interesting to study. As it turned out, I won a 2nd prize with my article (which had quite a bad outcome; the original poster of the contest suddenly disappeared without ever given any of the prizes he promised to the competing youngsters).

Whatever the outcome of that competition was, I decided that I finally found my area of interest. I started writing more articles about patterns and other related topics on US numismatics. I’ve wanted to collect many different coins along the way (really everything, from clad Washington quarters to 20th century gold coins to Early Copper and everything in between) as they were all so historical to me. After a while, I finally settled down for seated coins and I’m happy I finally made that decision.

Currently, I hope to spend at least 6 or 7 weeks in California this Spring/Summer and finally come to the country I love so much, at least from a distance. I’m hoping to get a coin-related job in the US for next year, finally move across the ocean to settle in the United States, and pursue the dream I have since I started getting interested in the United States such a long time ago.

To contact the AUTHOR of this article Dennis Hengeveld – Click Here

Related posts:

1. Collecting Date Sets of Liberty Seated Coinage Part 2: Quarters through Half Dimes
2. Counterfeit Seated Half Dollars Alert!!
3. Philadelphia No Motto Half Eagles From the 1840’s: A Date by Date Analysis

“This wonderful collection has been assembled over many years. Dale has always attempted to combine the finest technical grade with the choicest eye appeal. Most of these early half dollars have gorgeous, original toning and luster, and are a pleasure to examine,” said Donald E. Willis, Jr., President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT).

Friend’s basic set collection of circulation strike early half dollars, 1794 – 1839, has been ranked number one in the PCGS Set Registry the past six years. His set with major varieties has been the best the past four years. Both sets have earned the honor of being the number one all-time finest in their category.

“The basic set is 100 percent complete and has a weighted grade point average of 59.831. The early half dollars set with varieties is nearly 90 percent complete and has a weighted GPA of 59.104,” said BJ Searls, PCGS Set Registry Manager.

A total of 101 coins from Friend’s award-winning early half dollars collections will be exhibited at the PCGS booth, #138, at the FUN convention.

Highlights include:

1794 (Overton 101), PCGS MS61, finest known

1796, 16 stars, PCGS AU50

1802, PCGS AU58

1806, pointed 6, stem, PCGS MS64

1807 large stars 50/20, PCGS MS64

1811 large 8, PCGS MS65

1813, PCGS MS64

1817/3 overdate, PCGS MS64, none higher

1818/7, large 8 overdate, PCGS MS64

1822/1 overdate, PCGS MS64, none higher

1823 PCGS MS66, finest known

1830 small 0, PCGS MS65

1839 reeded edge, PCGS MS65

A retired Dallas lawyer now living in Northern Nevada, Friend said the early half dollars series provided “the most fun of any I have ever attempted. Finding examples from AU to MS67 finest known provides a great treasure hunt, with all of the coins original and full of history. I plan to keep these sets intact for a long time as I cannot imagine parting with any of these beautiful children.”

During the 1950s, Friend collected coins from the age of 10 to 14. He resumed collecting in 1992, and describes Kenny Duncan of U.S. Coins in Houston as his numismatic mentor.

In addition to coins, Friend and his wife, Stacey, collect Western American oil paintings and bronze sculptures.

Established in 2001, the PCGS Set Registry now hosts over 46,000 sets. In addition to every major U.S. coin series, it offers categories for Australia, Austria, Belgium, Britain, Canada, Costa Rica, China, Cuba, Denmark, Dominican Republic, Euro, France, Germany, India, Ireland, Japan, Mexico, New Zealand, Panama, Philippines, Puerto Rico, Russia, South Africa and Switzerland. Collectors compare their collections to other current and all-time great collections. Sets are ranked in the order of grade point average, completion and overall rating.

PCGS will offer on-site authentication and grading services for collectors and dealers submitting coins for certification at the FUN convention including a one-day walkthrough turnaround for $100 on any coin with a maximum value of $100,000. Two additional show specials for on-site authentication and grading in Orlando will be available to all PCGS Authorized Dealers and members of the PCGS Collectors Club: $65 for U.S. and world coins valued up to $3,000 each with a minimum submission of five coins, and $45 for any U.S. gold coin valued up to $3,000 each with a minimum submission of ten coins.

Collectors and dealers also will have a special opportunity to have their PCGS-graded coins digitally imaged with the PCGS TrueView photo service on-site during dealer setup and the first two days the show is open to the public, Wednesday to Friday, December 6 – 8. The TrueView service will be available on a limited first-come, first-served basis at $50 per coin photo.

PCGS Customer Service representatives will be available at the booth to answer questions about products and services, and to accept submissions for all levels of service.

For additional information about PCGS, visit www.PCGS.com, and for additional information about the PCGS Set Registry, visit www.PCGS.com/setregistry/information.html.

Related posts:

1. PCGS Will Display Finest Early Dollars Set at February Long Beach Expo
2. The Joshua II Collection of Mercury Dimes is the #1 All-Time Finest PCGS Registry Set and is being sold in Boston
3. PCGS Set Registry Launches “Everyman” Coin Collections Category