Were 1878-S half dollars melted at the Mint in any quantity?

Omegaraptor

The 1878-S half dollar is a well known Seated rarity. 12000 were originally minted per Mint records, and today about 50-60 coins are estimated to exist. This would indicate that these coins disappeared into circulation, but I am not sure if this is the case. The coin was recognized in auctions as rare as early as 1882 according to Coinfacts, and a significant portion of the known examples are in AU or better grade. This indicates that this issue was recognized as rare early on and saved, even though mintmark collecting was not nearly as popular during this time as it was later on.

Despite this, only about 0.5% of the mintage survived. Is it possible that the 1878-S half dollar met a similar fate to the 1876-CC 20c piece, with most of the mintage being melted instead of released to procure silver for the Bland-Allison Act to strike Morgan dollars? This is my hypothesis, although I have not seen this discussed anywhere.

ricko

Interesting hypothesis. I am sure @CaptHenway or one of our other resident experts may have some relevant inputs. I will follow this thread to see what develops. Cheers, RickO

jesbroken

Interesting question, maybe ask Roger ATS.
Jim

CaptainBlunt

In correspondence dated January 25th 1878 from the San Francisco Mint Superintendent to the Mint Director it was noted that a number of Trade dollars and halves were being shipped East by express.

I don’t know if the 1878-S halves had been coined at this point

Omegaraptor

@CaptainBlunt said:

In correspondence dated January 25th 1878 from the San Francisco Mint Superintendent to the Mint Director it was noted that a number of Trade dollars and halves were being shipped East by express.

I don’t know if the 1878-S halves had been coined at this point

The 1878-S halves and by extension quarters (another coin seemingly scarcer than its mintage figure would indicate) were probably coined quite early in the year. The Bland Allison Act became law on Feb 28, 1878 and the first Morgan dies arrived at the Western mints on April 16. After the massive mintages at both Western mints in 1876-77 Western circulation probably did not need any more quarters or halves.

CaptainBlunt

There seemed to be a contemporary increase in collectors seeking a year set of 1878-S coins. Perhaps because of the newly minted Morgan dollars. No doubt this was the source of some high grade 1878-S Seated halves.

I do not recall seeing any half dollars deposited at the SF Mint for melting in 1878 by the Superintendent or any other depositors

Interesting topic

CaptainBlunt

All 12,000 1878-S Seated half dollars were coined during the month of February

LogPotato

Forgive my ignorance here, but wasn't the Bland Allison act a way to buy more silver from the mines and not melt their own? I'm not saying they didn't because 12k halves compared to the dollar mintage is nothing. I guess I could see it as being non noteworthy at the time.