Lot 962
1961. Doubled die. PCGS graded Proof 66 Cameo. CAC Approved. Fully white gem. The United States Mint at Philadelphia uses a four-step process when preparing a die to strikes coins: Master Hub-Master Die-Working Hub-Working Die. Proofs or business strikes, obverse or reverse, working dies used to strike coins exist because of this process. If you get confused and shake your head after reading the following, please blame someone else. Here goes: A Master Hub is used to make one or several Master Dies. Then one of these Master Dies is used to make some Working Hubs. Finally, a Working Hub is used to create the Working Dies which will strike the coins.
Sound complicated? There is a logic behind this. It is to safeguard the precious original Master Hub by letting the intermediary hubs and dies take the beating. Recall that a Master Hub has to last the entire duration of a coin's design if possible, in the case of the Franklin Half Dollar, from 1948 to 1963. It would appear that when one of the working hubs was put through the hubbing press to create a working die for this 1961 Proof, it had to be pressed multiple times to ensure a proper impression. Through human error, it pivoted slightly between the press runs, causing what is known as a Type 5 doubled die or a Pivot Double die, the type of error seen here on the Reverse die.
During the 1950s and 1960s, a working die would be used for a maximum of 4,000 Proof coins before being retired. This suggests the maximum number of 1961 Doubled Die Reverse Franklin Half Dollars minted is 4,000.
The fact that this doubled die effect occurs on a Franklin, the largest denomination in 1961, and it was a Proof coin, both make having a doubled die variation very rare and special. Pop 1; 1 finer in 67. (PCGS # 86689) .
Estimated Value $10,000 - 12,000.
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