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1795 50C O-113a A over E in STATES MS64 PCGS #39254

O.113a R4. Eliasberg. Finest Known. Lovely satin finish with strong cartwheel luster of silvery and shimmering surfaces. Private treaty with Legend Numismatics on August 11, 2015.

1796 50C 16 Stars MS64 PCGS #6058

O.102 R5+. Ex: Reed Hawn and Gene Gardner. Second finest known at PCGS. Per cataloger, "1796 16 Stars Half Dollar, O-102, Boldly Struck MS64. Second-Finest Example at PCGS. A Choice Type Coin. 16 Stars, O-102, High R.5, MS64 PCGS. Amato-201. Whispers of soft tan patina visit the central areas of this lustrous, silver-gray near-Gem, being somewhat more extensive and deeper in hue on the reverse. Bold detail appears on the design elements, including the strands in Liberty's hair and drapery folds, the star centers, the eagle's wing, tail feathers, and claws, the veins in most of the laurel and palm leaves, and the bowknot. Many Mint State Draped Bust Small Eagle half dollars lack this level of design definition. The dentilation is bold throughout and the devices are perfectly centered on the planchet. Occasional contact marks are much fewer and far less severe than expected for the MS64 grade. Indeed, we might surmise that the adjustment marks (frequently seen on early silver and gold coins) in the central reverse may well preclude full Gem classification. Whatever the case, 1796-1797 halves in this level of preservation are infrequently seen and cause significant excitement when they appear at auction. Variety: O-102, High R.5. The 1796 Draped Bust, Small Eagle half dollars display either 15 or 16 obverse stars. Mint records do not indicate the number of 15-Star versus 16-Star examples that were minted. Our ongoing research on this series has documented, however, the existence of 77 examples of the former variety and 64 of the latter. From a statistical standpoint, it might therefore be assumed that fewer 1796 16-Star coins were produced than 1796 15-Star specimens. Population Data (4/15): This is the second finest 1796 16-Star coin seen by PCGS, behind an MS66. NGC reports no near-Gems, but two in MS65. Heritage Commentary: The two-year design type Draped Bust Small Eagle half dollar is a "must-have" coin in order to complete an advanced type set of U.S. coinage. Only 3,918 examples of the type were struck in 1796 and 1797, making it by far the most elusive single U.S. silver type coin. This high-Mint State example of the 1796 O-102 will be a significant hallmark of any advanced type set or denomination collection. Provenance: Dr. C.A. Allenburger Collection (B. Max Mehl's Royal Sale, 3/1948), lot 386; Reed Hawn Collection (Stack's, 8/1973), lot 7; Bowers and Merena (8/1998), lot 181; Superior (8/2002), lot 943; Haig Koshkarian Collection (American Numismatic Rarities, 3/2004), lot 575; Robert Michael Prescott Collection (American Numismatic Rarities, 1/2006), lot 527; Goldberg Auctions (5/2006), lot 2908; Goldberg Auctions (2/2009), lot 927; Goldberg Auctions (1/2011), lot 1413." Obtained from Heritage Auction #1228 of the Eugene Gardner Collection on May 12, 2015, Lot 98349.

1796 50C 16 Stars MS64 PCGS #6058

O.102 R5+. Ex: Reed Hawn and Gene Gardner. Second finest known at PCGS. Per cataloger, "1796 16 Stars Half Dollar, O-102, Boldly Struck MS64. Second-Finest Example at PCGS. A Choice Type Coin. 16 Stars, O-102, High R.5, MS64 PCGS. Amato-201. Whispers of soft tan patina visit the central areas of this lustrous, silver-gray near-Gem, being somewhat more extensive and deeper in hue on the reverse. Bold detail appears on the design elements, including the strands in Liberty's hair and drapery folds, the star centers, the eagle's wing, tail feathers, and claws, the veins in most of the laurel and palm leaves, and the bowknot. Many Mint State Draped Bust Small Eagle half dollars lack this level of design definition. The dentilation is bold throughout and the devices are perfectly centered on the planchet. Occasional contact marks are much fewer and far less severe than expected for the MS64 grade. Indeed, we might surmise that the adjustment marks (frequently seen on early silver and gold coins) in the central reverse may well preclude full Gem classification. Whatever the case, 1796-1797 halves in this level of preservation are infrequently seen and cause significant excitement when they appear at auction. Variety: O-102, High R.5. The 1796 Draped Bust, Small Eagle half dollars display either 15 or 16 obverse stars. Mint records do not indicate the number of 15-Star versus 16-Star examples that were minted. Our ongoing research on this series has documented, however, the existence of 77 examples of the former variety and 64 of the latter. From a statistical standpoint, it might therefore be assumed that fewer 1796 16-Star coins were produced than 1796 15-Star specimens. Population Data (4/15): This is the second finest 1796 16-Star coin seen by PCGS, behind an MS66. NGC reports no near-Gems, but two in MS65. Heritage Commentary: The two-year design type Draped Bust Small Eagle half dollar is a "must-have" coin in order to complete an advanced type set of U.S. coinage. Only 3,918 examples of the type were struck in 1796 and 1797, making it by far the most elusive single U.S. silver type coin. This high-Mint State example of the 1796 O-102 will be a significant hallmark of any advanced type set or denomination collection. Provenance: Dr. C.A. Allenburger Collection (B. Max Mehl's Royal Sale, 3/1948), lot 386; Reed Hawn Collection (Stack's, 8/1973), lot 7; Bowers and Merena (8/1998), lot 181; Superior (8/2002), lot 943; Haig Koshkarian Collection (American Numismatic Rarities, 3/2004), lot 575; Robert Michael Prescott Collection (American Numismatic Rarities, 1/2006), lot 527; Goldberg Auctions (5/2006), lot 2908; Goldberg Auctions (2/2009), lot 927; Goldberg Auctions (1/2011), lot 1413." Obtained from Heritage Auction #1228 of the Eugene Gardner Collection on May 12, 2015, Lot 98349.

1797 50C MS64 PCGS #6060

O-101a R5+. CAC. Reed. Third Finest Known 1797. Per Heritage Cataloger, "Gorgeous MS64. Well-Struck, Remarkably Clean Surfaces. From the Byron Reed Collection . 1797 50C O-101a, High R.4, MS64 PCGS Secure. CAC. Amato-401. The Byron Reed Pedigree. The near-Gem PCGS Secure, CAC 1797 O-101a example being offered in this sale is from the Byron Reed Collection. The last auction appearance of this piece occurred in the October 8 and 9, 1996 sale conducted in New York by Spink America/Christie's, in which a portion of Reed's American coins and manuscripts were "Sold by the City of Omaha to Benefit the Western Heritage Museum." The following information on Reed's entrepreneurial, civic, and numismatic exploits is derived from the Spink America/Christie's catalog. Numismatic Background and Census. Physical Description. Both sides of this gorgeous near-Gem example display mirrorlike fields and lightly frosted motifs, each of which possesses shades of soft sky-blue, rose, violet, and gold-orange patination. Only Uncirculated examples display the network of reverse die cracks that occur on this die state; many, if not most of these cracks are worn off on circulated coins, even on XF and AU specimens. On the current Mint State piece, close inspection reveals the presence of the crack through the top of ES in STATES that extends into the field. This is significant because this crack is the very first to appear on the initial reverse die used to coin Draped Bust Small Eagle half dollars, and its appearance occurred when the present reverse was paired with the 1796 15 Stars obverse, not later as suggested by previous numismatic researchers. The second crack to develop on this reverse also shows clearly. It travels from the rim through the right side of O in OF through the palm wreath to the eagle's wing. It also first developed when this reverse was paired with the 1796 15 Stars obverse, not with the 1796 16 Stars obverse per Overton or the 1797 O-101 obverse per Beistle. Some other cracks are not present, suggesting that the reverse of this particular coin has not yet reached its terminal stage. This is further evidenced by the lack of the crack through the bottom of ST in STATES that will eventually intersect the crack from the rim at 9:30, indicating the terminal die state. To summarize, the present coin exudes great technical quality and aesthetic appeal, affirmed by the CAC endorsement. In the opinion of this cataloger (JPA), PCGS may well have been conservative in its numerical grading of this coin. The Byron Reed Collection (Spink America/Christie's, 10/1996), lot 25." Previously sold in Heritage Auction CSNS on 4/23/2015, Lot 5071 for $493,500. Obtained by private treaty with Kagins on January 21, 2016.

1801 50C MS62 PCGS #6064

O.101 R3. CAC. Ex: Gardner. Obtained by private treaty with carter Numismatics on January 8, 2015.

1801 50C MS62 PCGS #6064

O.101 R3. CAC. Ex: Gardner. Obtained by private treaty with carter Numismatics on January 8, 2015.

1802 50C AU58 PCGS #6065

O.101 R3. CAC. Only die marriage for this important year. "The first half dollars coined at Philadelphia appeared late in 1794, with a large production the following year, continuing the original Flowing Hair design. Gilbert Stuart's Draped Bust concept appeared on half dollars in 1796 and 1797, featuring a Small Eagle reverse, and those coins are quite rare. After a brief intermission, the Draped Bust design resumed with a Heraldic Eagle reverse in 1801, and continued through early 1807, skipping coinage dated 1804. The first two issues, 1801 and 1802, are the key dates of that short lived design type. Only a single variety is known for 1802, and Mint records indicate a production of 29,890 coins. Based on the number of survivors, it is quite likely that that figure represents the true mintage of 1802-dated half dollars. This example shows faded clash marks on the reverse, although there is no discussion of die states in the Overton reference. It is perhaps surprising that the dies for this single variety were apparently not used in 1803, based on the number of surviving specimens. Perhaps 700 to 800 examples survive in all grades, and high-grade examples are quite rare. The combined PCGS and NGC population data shows 287 examples in all grades with an average grade of VF30. There are just 10 certification events in AU58, and only three finer submissions (7/13). This lovely near-Mint specimen has flashes of brilliant mint luster around the protected areas, visible through the lovely gold, blue and iridescent toning on each side. The strike is bold and the eye appeal is exceptional. Here is an important opportunity for the advanced early half dollar specialist. Population: 7 in 58, 2 finer (7/13)," per Heritage cataloger. Heritage Auction Platinum Night #1188 on 8/9/2013, Lot 5633.

1802 50C AU58 PCGS #6065

O.101 R3. CAC. Only die marriage for this important year. "The first half dollars coined at Philadelphia appeared late in 1794, with a large production the following year, continuing the original Flowing Hair design. Gilbert Stuart's Draped Bust concept appeared on half dollars in 1796 and 1797, featuring a Small Eagle reverse, and those coins are quite rare. After a brief intermission, the Draped Bust design resumed with a Heraldic Eagle reverse in 1801, and continued through early 1807, skipping coinage dated 1804. The first two issues, 1801 and 1802, are the key dates of that short lived design type. Only a single variety is known for 1802, and Mint records indicate a production of 29,890 coins. Based on the number of survivors, it is quite likely that that figure represents the true mintage of 1802-dated half dollars. This example shows faded clash marks on the reverse, although there is no discussion of die states in the Overton reference. It is perhaps surprising that the dies for this single variety were apparently not used in 1803, based on the number of surviving specimens. Perhaps 700 to 800 examples survive in all grades, and high-grade examples are quite rare. The combined PCGS and NGC population data shows 287 examples in all grades with an average grade of VF30. There are just 10 certification events in AU58, and only three finer submissions (7/13). This lovely near-Mint specimen has flashes of brilliant mint luster around the protected areas, visible through the lovely gold, blue and iridescent toning on each side. The strike is bold and the eye appeal is exceptional. Here is an important opportunity for the advanced early half dollar specialist. Population: 7 in 58, 2 finer (7/13)," per Heritage cataloger. Heritage Auction Platinum Night #1188 on 8/9/2013, Lot 5633.

1803 50C Overton 104 Small 3 MS64 PCGS #39274

O.104 R.3. CAC. Reed Hawn. Pogue. Finest Known 1803 Small 3 Half Dollar. Flashy cartwheel luster and lovely original surfaces result in very strong eye appeal. Per Pogue cataloger, "The Single Best 1803 Small 3 Half Dollar. The Reed Hawn Coin. Alone atop the Condition Census. A specimen of extraordinary elegance and freshness, whose quality stands out even among the coins of the D. Brent Pogue Collection. The toning framing the obverse changes, chameleon-like, from gold to sea-green and blue as the intense cartwheel luster collects light and slides around the perimeter. The center is soft lavender and gray with hints of blue. The bright blue around the reverse also seems to collect and magnify the lustrous cartwheel, framing the pale violet and gold center. Luster defines this piece, giving it a special level of aesthetic appeal. A few natural planchet streaks are seen, a by-product of an impurity in the Mint’s silver ingot that became a striation when rolled; the most significant is near Liberty’s chin, with others parallel. No significant marks or lines are found. The strike is soft at the lowest curl, the eagle’s head, and the star cluster above it, but the definition in Liberty’s portrait and hair, the eagle’s wings, and other areas more than makes up for it. The “large and flat” stars described by Overton are mostly absent here, as every star has some central detail and most have all of it. Some delicate die cracks are seen, including one from Liberty’s hair near its highest wave to near the base of E and another through T of LIBERTY to Liberty’s forehead below. A reverse crack begins at the top of the first S in STATES, undulates along the curves of that letter, then arcs to the rim through the clouds and finally through the last S of STATES. This is the only recorded candidate for finest known honors of this major variety. The Queller Family - Gene Gardner coin, the next closest competitor, is graded MS-62 (PCGS). It is the only other example certified as Mint State by PCGS. A previous offering of this coin misinterpreted its provenance, creating a seeming challenger where there was none. The Pogue example maintains its unquestioned primacy among all examples of the Small 3 variety. Provenance: Pogue. Reed Hawn Collection. Stack’s sale of the Reed Hawn Collection of United States Coins, August 1973, lot 12; Dr. George F. Oviedo, Jr. Collection; Stack’s sale of the Dr. George F. Oviedo, Jr. Collection of U.S. Half Dollars, September 1983, lot 731; Stack’s session of Auction ’87, July 1987, lot 745; Superior Galleries’ sale of the Worrell Collection of United States Coinage, September 1993, lot 1262; Stack’s Orlando Sale, January 2009, lot 409; Larry Hanks, by sale, January 7, 2009." Obtained from Stacks Bowers Auction of the D. Brent Pogue Collection on May 19, 2015, Lot 1108.

1805/4 50C Overton 101 MS64 PCGS #39290

O-101 R.3. Gold CAC. Lovely originality and eye appeal.

1806 50C Pointed 6, Stem MS65+ PCGS #6071

O-116. R.3. CAC. Per cataloger, "Pointed 6, Stem, O-116, R.3, MS65+ PCGS. CAC. O-116 is one of the more plentiful Pointed 6, Stem through claw varieties, though it is noted that any variety of this issue is elusive in Mint State and decidedly rare at the Gem grade level. This variety exhibits the third of four uses for this obverse and one of three uses for this reverse. The obverse is extensively cracked around the periphery from the tip of the bust, through the date, all the way to the R in LIBERTY. This die began cracking early in its second marriage (O-115), and was finally retired after striking a number of O-117 coins. The TY in LIBERTY are recut, though the evidence is not as distinctive on this late die state as it is on early varieties. This reverse die was also briefly paired with obverses 11 and 13, producing the extremely rare O-128 and O-129 varieties. It is seen here in a late state, with a peripheral crack from below the eagle's tailfeathers, though the top of UNITED, and terminating by the second S in STATES. Examples of this variety are seldom available in Mint State, and at the Gem level it is a major rarity for the Draped Bust type. The PCGS certified population of all Pointed 6, With Stem varieties is just eight coins in MS65 (2 in 65+), with only four numerically finer (11/14). This dazzlingly lustrous example showcases sea-green, olive, and lavender-gold hues over each side, with a few deeper amber accents also seen in localized areas of the recesses. A few tiny ticks in the right obverse field are seemingly all that keep this Plus-designated piece from a full Premium Gem grade. Light die lapping is evident on the hair curls by Liberty's forehead, also the primary cause of the recutting on the TY in LIBERTY slowly fading. This lapping is much more extensive on later states of this obverse, mostly seen on the O-117 variety, its final usage. The reverse is lightly clashed. Whether for type, date, or variety purposes, this high-end Gem is an ideal representative of the O-116 variety, showcasing a degree of eye appeal that is not often seen on any half dollar from this period. An impressive and important coin in every respect. The specialist should bid accordingly." Obtained from Heritage FUN Platinum Night Auction #1216 on 1/7/2015, Lot 4125.

1806 50C Pointed 6, Stem MS65+ PCGS #6071

O-116. R.3. CAC. Per cataloger, "Pointed 6, Stem, O-116, R.3, MS65+ PCGS. CAC. O-116 is one of the more plentiful Pointed 6, Stem through claw varieties, though it is noted that any variety of this issue is elusive in Mint State and decidedly rare at the Gem grade level. This variety exhibits the third of four uses for this obverse and one of three uses for this reverse. The obverse is extensively cracked around the periphery from the tip of the bust, through the date, all the way to the R in LIBERTY. This die began cracking early in its second marriage (O-115), and was finally retired after striking a number of O-117 coins. The TY in LIBERTY are recut, though the evidence is not as distinctive on this late die state as it is on early varieties. This reverse die was also briefly paired with obverses 11 and 13, producing the extremely rare O-128 and O-129 varieties. It is seen here in a late state, with a peripheral crack from below the eagle's tailfeathers, though the top of UNITED, and terminating by the second S in STATES. Examples of this variety are seldom available in Mint State, and at the Gem level it is a major rarity for the Draped Bust type. The PCGS certified population of all Pointed 6, With Stem varieties is just eight coins in MS65 (2 in 65+), with only four numerically finer (11/14). This dazzlingly lustrous example showcases sea-green, olive, and lavender-gold hues over each side, with a few deeper amber accents also seen in localized areas of the recesses. A few tiny ticks in the right obverse field are seemingly all that keep this Plus-designated piece from a full Premium Gem grade. Light die lapping is evident on the hair curls by Liberty's forehead, also the primary cause of the recutting on the TY in LIBERTY slowly fading. This lapping is much more extensive on later states of this obverse, mostly seen on the O-117 variety, its final usage. The reverse is lightly clashed. Whether for type, date, or variety purposes, this high-end Gem is an ideal representative of the O-116 variety, showcasing a degree of eye appeal that is not often seen on any half dollar from this period. An impressive and important coin in every respect. The specialist should bid accordingly." Obtained from Heritage FUN Platinum Night Auction #1216 on 1/7/2015, Lot 4125.

1806 50C Pointed 6, Stem MS65+ PCGS #6071

O-116. R.3. CAC. Per cataloger, "Pointed 6, Stem, O-116, R.3, MS65+ PCGS. CAC. O-116 is one of the more plentiful Pointed 6, Stem through claw varieties, though it is noted that any variety of this issue is elusive in Mint State and decidedly rare at the Gem grade level. This variety exhibits the third of four uses for this obverse and one of three uses for this reverse. The obverse is extensively cracked around the periphery from the tip of the bust, through the date, all the way to the R in LIBERTY. This die began cracking early in its second marriage (O-115), and was finally retired after striking a number of O-117 coins. The TY in LIBERTY are recut, though the evidence is not as distinctive on this late die state as it is on early varieties. This reverse die was also briefly paired with obverses 11 and 13, producing the extremely rare O-128 and O-129 varieties. It is seen here in a late state, with a peripheral crack from below the eagle's tailfeathers, though the top of UNITED, and terminating by the second S in STATES. Examples of this variety are seldom available in Mint State, and at the Gem level it is a major rarity for the Draped Bust type. The PCGS certified population of all Pointed 6, With Stem varieties is just eight coins in MS65 (2 in 65+), with only four numerically finer (11/14). This dazzlingly lustrous example showcases sea-green, olive, and lavender-gold hues over each side, with a few deeper amber accents also seen in localized areas of the recesses. A few tiny ticks in the right obverse field are seemingly all that keep this Plus-designated piece from a full Premium Gem grade. Light die lapping is evident on the hair curls by Liberty's forehead, also the primary cause of the recutting on the TY in LIBERTY slowly fading. This lapping is much more extensive on later states of this obverse, mostly seen on the O-117 variety, its final usage. The reverse is lightly clashed. Whether for type, date, or variety purposes, this high-end Gem is an ideal representative of the O-116 variety, showcasing a degree of eye appeal that is not often seen on any half dollar from this period. An impressive and important coin in every respect. The specialist should bid accordingly." Obtained from Heritage FUN Platinum Night Auction #1216 on 1/7/2015, Lot 4125.

1807 50C Overton-114, Large Stars MS66 PCGS #39361

O.114 R3. CAC. Norweb. Pogue. Finest Known 1807 Capped Half Dollar.