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Franklin Half Instructional Series #24: 1958P Half Dollar.
FC57Coins
Posts: 9,140 ✭
This is the 24th installment of the Franklin Half Instructional Series. Hopefully those of you who are interested in Franklins will add your own observations and pictures. By the end of the series we should wind up with a pretty comprehensive study of the Franklin series, along with some nice pictures as well. And who knows, maybe some other folks will do the same for other series!
Sources for this series generally include “An Analysis of Gem Franklins” by Jack Ehrmantraut and “The Complete Guide for Franklin Halves” by Rick Tomaska – two books which I feel every serious Franklin collector should read
1958P
In many ways, a twin of the 1957P issue, coins of this year/mint are characterized by above average brilliance and below average strike characteristics. Original rolls, when found, tend to be baggy with some water spotting, although they generally have great luster. With a mintage of only 4,042,000, of which only about 10-20% are Full Bell Line coins, this issue is highly underrated from a mintage and condition standpoint. As with the 1957P issue, 58P’s fall into three categories, white, drab toned, and amazing toning. White pieces are tough to find in MS64 or better condition. The reason for this is that white pieces coming from original rolls tended to be marred by bag marks and water spots. Add to this the likelihood of a mushy strike because of wear to the master die, now in its next to the last year of use, and you have a poor combination of circumstances to yield gem rated coins. There are a lot of drab grey/brown toned pieces out there that didn’t get the good fortune of being stored in ideal circumstances for awesome toning. And then there are the wonder coins, amazing pieces featuring iridescent golds, yellows, blues, and even deep purples which will make your heart stop. These amazing mint set toned pieces, along with those from 1957, form the highlight of toning for any Franklin collection. Once common, these pieces have been salted away in some of the better collections throughout the country and now rarely surface. Where once these were the “throw away” pieces in favor of bright white specimens, now they are highly sought after and command steep premiums over an equally graded white or drab counterpart. In addition to these characteristics, 1958P halves have a couple of minor variations. As with the 1956 proof issue, there are type1, weak eagle, and type 2 strong eagle varieties in this issue. However, in this case, it is the strong type 2 eagle which is scarcer. Unfortunately these types, which also exist in 1957 and 1959 issues, have yet to catch the attention of main stream collectors. There is also supposedly a type 3 eagle, a medium strength eagle, available for these years. A board member here, Ed Castrege, who goes by the name of FlyKite is probably one of the biggest proponents of these varieties and has done extensive research on the subject.
Almost all MS66 and MS67 issues for this date are mint set toned issues. While relatively common in MS66, in the same way as 1956P’s and 1957P’s many coins are of the drab grey/brown variety. White examples and colorfully toned examples command much higher premiums.
Current population numbers from PCGS read as follows:
MS63 and lower 140 non FBL and 14 in FBL
MS64 - 1015 non FBL and 432 in FBL
MS65 - 1982 non FBL and 346 FBL
MS66 – 1355 in non FBL and 293 in FBL
MS67 – 30 in non FBL and 9 in FBL
MS64 and 65 graded coins seem to bear out the theory that FBL coins are considerably lower in this year more so than in previous. The comparably high numbers in MS65 and 66, as opposed to their FBL counterparts, stress the undervalued qualities of this particular date. MS64FBL and MS65 examples in run of the mill condition can probably be had for somewhere in the $25-40 range. MS65FBL and MS66 coins are still inexpensive in the $50-75 range. MS66FBL coins can start around the $100-$125 range and go up in value considerably due to toning or white status. White MS66 and better coins are extremely rare. MS67 coins are considered extremely rare in for any year and in this particular issue will likely range in the low 4 figures and up – again depending on eye appeal.
For more information on this date you can look the coin up in the Coinfacts page, which also sites significant sales appearances over the past few years. This information can be found HERE. I will continue to post the COINFACTS site for reference, but I am in no way promoting their products or services.
I went by a dealer that I’ve been doing business with for about 5 years and he mentioned that the market for Franklins, at least here in the South, seems to be very limited. Part of the reason is that the Grey Sheet does not offer values for FBL coins, and thus dealers have a very hard time moving them because of lack of knowledge. That being the case, the collector wins in this series by being able to pick up decently priced coins as long as you shop around a bit. Have fun collecting Frankies!
Sources for this series generally include “An Analysis of Gem Franklins” by Jack Ehrmantraut and “The Complete Guide for Franklin Halves” by Rick Tomaska – two books which I feel every serious Franklin collector should read
1958P
In many ways, a twin of the 1957P issue, coins of this year/mint are characterized by above average brilliance and below average strike characteristics. Original rolls, when found, tend to be baggy with some water spotting, although they generally have great luster. With a mintage of only 4,042,000, of which only about 10-20% are Full Bell Line coins, this issue is highly underrated from a mintage and condition standpoint. As with the 1957P issue, 58P’s fall into three categories, white, drab toned, and amazing toning. White pieces are tough to find in MS64 or better condition. The reason for this is that white pieces coming from original rolls tended to be marred by bag marks and water spots. Add to this the likelihood of a mushy strike because of wear to the master die, now in its next to the last year of use, and you have a poor combination of circumstances to yield gem rated coins. There are a lot of drab grey/brown toned pieces out there that didn’t get the good fortune of being stored in ideal circumstances for awesome toning. And then there are the wonder coins, amazing pieces featuring iridescent golds, yellows, blues, and even deep purples which will make your heart stop. These amazing mint set toned pieces, along with those from 1957, form the highlight of toning for any Franklin collection. Once common, these pieces have been salted away in some of the better collections throughout the country and now rarely surface. Where once these were the “throw away” pieces in favor of bright white specimens, now they are highly sought after and command steep premiums over an equally graded white or drab counterpart. In addition to these characteristics, 1958P halves have a couple of minor variations. As with the 1956 proof issue, there are type1, weak eagle, and type 2 strong eagle varieties in this issue. However, in this case, it is the strong type 2 eagle which is scarcer. Unfortunately these types, which also exist in 1957 and 1959 issues, have yet to catch the attention of main stream collectors. There is also supposedly a type 3 eagle, a medium strength eagle, available for these years. A board member here, Ed Castrege, who goes by the name of FlyKite is probably one of the biggest proponents of these varieties and has done extensive research on the subject.
Almost all MS66 and MS67 issues for this date are mint set toned issues. While relatively common in MS66, in the same way as 1956P’s and 1957P’s many coins are of the drab grey/brown variety. White examples and colorfully toned examples command much higher premiums.
Current population numbers from PCGS read as follows:
MS63 and lower 140 non FBL and 14 in FBL
MS64 - 1015 non FBL and 432 in FBL
MS65 - 1982 non FBL and 346 FBL
MS66 – 1355 in non FBL and 293 in FBL
MS67 – 30 in non FBL and 9 in FBL
MS64 and 65 graded coins seem to bear out the theory that FBL coins are considerably lower in this year more so than in previous. The comparably high numbers in MS65 and 66, as opposed to their FBL counterparts, stress the undervalued qualities of this particular date. MS64FBL and MS65 examples in run of the mill condition can probably be had for somewhere in the $25-40 range. MS65FBL and MS66 coins are still inexpensive in the $50-75 range. MS66FBL coins can start around the $100-$125 range and go up in value considerably due to toning or white status. White MS66 and better coins are extremely rare. MS67 coins are considered extremely rare in for any year and in this particular issue will likely range in the low 4 figures and up – again depending on eye appeal.
For more information on this date you can look the coin up in the Coinfacts page, which also sites significant sales appearances over the past few years. This information can be found HERE. I will continue to post the COINFACTS site for reference, but I am in no way promoting their products or services.
I went by a dealer that I’ve been doing business with for about 5 years and he mentioned that the market for Franklins, at least here in the South, seems to be very limited. Part of the reason is that the Grey Sheet does not offer values for FBL coins, and thus dealers have a very hard time moving them because of lack of knowledge. That being the case, the collector wins in this series by being able to pick up decently priced coins as long as you shop around a bit. Have fun collecting Frankies!
0
Comments
peacockcoins
But I missed the 55's!!!!!!!!!
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
and it sets us apart from practitioners and consultants. Gregor
And Frank!
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Thanks STMAN ! >>
Gee - I didn't know Stman was a modern collector! Look at how fast he came up with that 1955 link!
PCGS MS64 (Non FBL) flykite told me it's a Type 2
Baley's Photo
My Photo
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
do anyone have all the link to the Franklin Half Instructional Series .
there some great info. here.thanks
littlejohn
If you do a search on Instructional, you'll find all the posts.
Frank
Link to Frank's other threads.
Capped Bust Half Series
Capped Bust Half Dime Series
Lee, here's a type one to go with your coin:
this coin remains "raw" but I think it might be a 65
Liberty: Parent of Science & Industry
Type 1 and Type 2
Capped Bust Half Series
Capped Bust Half Dime Series
In Memory of Frank...
Currently Listed: Nothing
Take Care, Dave