1806 50C O-109 MS65 认证号13690012, PCGS号39310

O-109. R.1. CAC. Pogue. Per Pogue cataloger, "Gem 1806 Pointed 6, No Stem Half Dollar. Finest Graded by PCGS. 1806 Draped Bust Half Dollar. Overton-109. Rarity-1. Pointed 6, No Stem. MS-65 (PCGS). “No stem to olive branch through eagle’s claw; extremely rare variety.” — J. Colvin Randall, 1881. Astoundingly beautiful and well preserved, a thrilling gem specimen. The cartwheel luster is almost beyond the bounds of the believable, and the strike is similarly fine. Each star on the right side of the obverse shows full raised central detail, as do nearly all of the stars among the reverse star cluster. Each eagle feather from chest to wingtip shows its full complement of graver strokes, a manifestation of the engraver’s ideal. The clouds are rounded and the denticles are sharp. Even the raised lathe lines at the central obverse are clear. Over this precise strike is superior toning, with bright gold at the rims embracing a frosty gray center that incorporates shades of violet and blue. The reverse is even more decorative and colorful, showing orange and brighter blue. A speck of residue persists inside star 11, and another piece of detritus is seen between the hair ribbon and stars, but no notable marks are found with a glass. A spot of deeper toning is harmless, just above the bust. Two clashes are seen on the obverse above the date, but evidence of only one impression is seen on the reverse, noted only between the wingtip and OF. Only two varieties of 1806 half dollars use a reverse with no stem through the eagle’s claw, this one and the extremely rare O-108, as offered in the previous lot. Though a fair number are known in nice grade, including more than a dozen in lower Mint State grades, this is the only Gem MS-65 to have been certified by PCGS. This variety appears to have been first published in the so-called “Haseltine Type Table,” an 1881 auction by John Haseltine that was published as a monograph, thereafter serving as the first listing of die varieties of quarter dollars, half dollars, and silver dollars. The collection was built by J. Colvin Randall, a Philadelphia numismatist, and it was Randall who wrote the Type Table, despite Haseltine’s claims of authorship. Randall owned a specimen he called Uncirculated (perhaps this specimen?). His idea that the variety was extremely rare has been modified by later discoveries, as collecting half dollars by variety has become a popular pastime in the 20th and 21st centuries. This would be an unimproveable addition to a collection focusing on early half dollar varieties or any cabinet where fine and original early 19th century U.S. coins are being assembled. PCGS Population: 1, none finer. (Pointed 6, no stem; O-109). Provenance: Purchased at the Whitman Coin & Collectibles Expo in Baltimore, Maryland in November 200Obtained from Stacks bowers Auction of the D. Bent Pogue Collection Part 1, May 19, 2015, Lot 1113.

Ron Guth

The 1806 Pointed 6, No Stems Half Dollar is a popular, easily-recognized variety in a year full of varieties.  In this case, the 6 is pointed and there is no stem in the eagle's left talon (viewer's right).  The shape of the 6 was controlled by the decision of the engraver -- he picked up and used either a Pointed 6 or a Knobbed 6 punch.  The missing stem was an oversight on the engraver's part -- the stem was not a part of the larger punch that included the eagle and clouds.  The engraver's job was to add the stars in the field above the eagle and the stem.

This is one of the most common varieties of the year, which means that collectors will have no difficulty locating an example, even in high grade.  There is one die variety for this type - Overton 109 (later die states are styled as Overton 109a).