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Sale 80
June Pre Long Beach Sale
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Description |
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Lot 473 |
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1794 O-105 Rarity 4. PCGS graded VF-25. Lovely blue and golden toning. First year issue, with more than half of the hair waves visible, choice rims. The eagle and reverse legends clear as well. We note some light adjustment lines along the reverse rim at right. Smooth, attractive surface. A scarce die marriage, particularly in lesser worn grades, that is attributed by its reverse, which has 9 berries on the left side of the wreath, and 10 berries on the right side, "Reverse C" which carried over from O-103 and O-104. Obverse 3, the only use of this obverse, has two points of star 1 solid to the curl. Listed as Rarity-4 in the 4th edition Parsley/Overton guide where once it carried a Rarity-5 rating, this number may be adjusted once the 5th edition is released, which should be presently.
In recent years, the Half Dollar has all but disappeared from the channels of American commerce, becoming almost irrelevant to the nation's coinage system. That's a far cry from the role it played in America's formative years, when it had a significant function and carried exceptional influence. Its importance was underscored by the fact that in 1794, when United States silver coinage began, the half dollar was one of the first three denominations to be issued in that metal, along with the Silver Dollar and Half Dime.
While their roles in everyday commerce may have differed, the 1794 Dollar and Half Dollar -- and, for that matter, the first Half Dime -- were identical in design. Congress had specified that the silver coins should carry a design "emblematic of Liberty," and Chief Engraver Robert Scot had implemented this mandate with a right-facing portrait of a youthful female figure whose hair flowed freely behind her -- hence the descriptive term "Flowing Hair." It is said the flowing hair was meant to signify freedom. LIBERTY appears above the portrait, with the date below and fifteen stars along the sides, denoting the number of states in the Union at that time. The coin's reverse depicts a small, spread-winged eagle perched upon a rock and surrounded by laurel branches. Along the border, encircling this, is the motto UNITED STATES OF AMERICA. The half dollar's edge bears the inscription FIFTY CENTS OR HALF A DOLLAR, with decorations between the words.
After completing the first production run of Flowing Hair Half Dollars, the Mint was poised to make more. But its rolling equipment broke down, so it couldn't flatten ingots to the proper thickness for coin blanks. Repairs took several weeks, and as 1794 drew to a close the Mint had at least six obverse dies on hand with that date. Rather than scrap them, it kept making 1794 Half Dollars in 1795. Only when all the 1794 dies became unusable did it start using dies dated 1795 (PCGS # 6051) .
Estimated Value $16,000 - 18,000.
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| Realized
$21,738 |
Lot 474 |
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1794 O-105 Rarity 5. NGC graded VF-20. Nice even toning. Some light reverse adjustment marks as made.
Estimated Value $16,000 - 18,000.
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| Realized
$20,563 |
Lot 475 |
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1795 O-108, Rarity-4. PCGS graded Fine-12. CAC Approved. Nice even toning, deep old-silver hue in the fields, lighter accents on the chief devices give pleasing contrast. O-108 has several points of interest including some die defect marks at star 1, and a fine horizontal die crack from the milling through star 15 to the end of the bust; on the reverse can be found a small rim break before the right ribbon. Berries are arranged 9 + 8, with two inside and one outside on the left, two inside on the right where the upper one lacks a stem (PCGS # 6052) .
Estimated Value $1,900 - 2,000.
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| Realized
$2,585 |
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