Bizarre inconsistencies in 1802 half dime pedigree ...

Sunnywood

This Friday evening, July 23rd, 2004, David Lawrence Rare Coins will be offering a great American rarity in the final session of their inaugural live auction. The coin is an 1802 half dime, encapsulated and graded AU50 by NGC. The 1802 half dime needs no introduction to most of you; it is one of the "true rarities" - legitimate issues struck for circulation. Many of our celebrated rarities are restrikes, novodels, clandestine issues, proof-only issues struck for collectors, etc. Conversely, the 1802 half dime is the real thing; NOT a midnight minters' delicacy ...

Interestingly, the 1802 half dime to be offered Friday night is credited by DLRC with the following pedigree:

Ex: A. Redlich from Scott & Co., 3/4/1878:542a; John Lyman, S. H. Chapman 11/7/1913:319; James A. Stack, Sr., Stack's 11/29/1989:368; Heritage's FUN sale, 1/8/1998:6631.

However, I recalled being an underbidder on a very similar coin at the Heritage June 2001 Long Beach Signature Sale. I pulled out my Heritage catalog, and sure enough there it is: unquestionably the same coin, as can easily be seen by examining the toning patterns in the photos. Bizarrely, the Heritage catalog lists the following pedigree:

Ex: W. Elliot Woodward Sale (October, 1884); James B. Wilson Collection (Elder, 10/08), where it sold for $715; H.O. Granberg Collection; William Cutler At.water (BMM, 6/46), lot 1126, where it brought $840; unknown dealer intermediaries in the late 1940s; anonymous New Jersey collector until 1991; 1998 FUN Sale (Heritage, 1/98), lot 6631, where it realized $84,000; Philadelphia 2000 Sale (Heritage, 8/00), lot 6815.

Notice that while these pedigrees appear to be completely different, indeed even inconsistent, they both include the Heritage FUN Sale, 1/8/1998:6631. What is going on here? The answer is: sometimes auction cataloguers conveniently omit appearances where the price realized was lower than a previous appearance. And sometimes, they just don't do their homework. For example, this coin realized $84,000 in the 1998 FUN Sale, but later realized "only" $64,400 in the June 2001 Long Beach auction.

Here, then, is an attempt at the correct pedigree (or at least a more complete one):

Ex: A. Redlich from Scott & Co. (3/4/1878:542a); W. Elliot Woodward Sale (October, 1884); Thomas Elder's Sale of the James B. Wilson Collection (10/1908, $715); John Lyman, S. H. Chapman (11/7/1913:319); H.O. Granberg Collection; B. Max Mehl's Sale of the William Cutler At.water Collection (6/46:1126, $840); unknown intermediaries; Stack's Sale of the James A. Stack, Sr. Collection (11/29/1989:368); Heritage, 1998 FUN Sale (1/8/1998:6631, $84,000); Heritage, Philadelphia 2000 Sale (8/00:6815, not sold); Heritage, June 2001 Long Beach Signature Sale (5/31/01:7960, $64,400).

Can anyone shed further light on this strange mismatch in pedigrees?

Best,
Sunnywood

JrGMan2004

Logan and McCloskey's book on Federal Half-Dimes also says that this same coin was at one time owned by a William At*water, though no particulars are given... they exact text reads as follows

"An example described as AU-50 and once owned by H. O. Granberg and later by William At*water was auction by Heritage in the FUN 98 Sale, 1/98:6631."

Please excuse the placement of astericks so I can get around the censorship........

Sunnywood

I also found it really hard to believe DLRC's comment that they have seen three of the four NGC AU50 specimens. I was quite sure there were at most two different NGC AU50 coins, with the pop of 4 being an artifact of resubmissions. But, of course I could be wrong about that.

Best,
Sunnywood

JrGMan2004

You're probally right. Logan and McCloskey estimated only 8 existing in grades higher than VF, and only about 35 left in existence...

Sunnywood

And of those 8 in VF or higher, several are impaired (as are many of the lower-graded specimens). These coins just didn't get any respect !!

Best,
Sunnywood

JrGMan2004

Apprently not... at least til later on Some nice names on that pedigree though...

EVillageProwler

Sunnywood,

Why don't you ask that "anonymous NJ collector"? It's not like we don't know who he is. He certainly would know the provenance and appearance chain of these 1802 half dismes much like Cardinal knows his ED's...

EVP

Sunnywood

Hi EVP !!

Yeah, I suppose we do know who that is. And I believe the New Jersey collector acquired the coin at the 1989 Stack's auction of the James A. Stack, Sr. Collection, which would explain away the apparent inconsistency between the two pedigrees.

But isn't it interesting how the two auction houses could publish pedigrees of the same coin that look so different ??

Best,
Sunnywood

Coinosaurus

The cataloguers do their darnedest but will *never* be able to keep up with the specialists on these kinds of things. Sunnywood, I would trust your own research a lot more.

EVillageProwler

But isn't it interesting how the two auction houses could publish pedigrees of the same coin that look so different ??

Yeah, frustrating. I've seen that before, but not too often.

EVP

lathmach

I was at a Michigan State Numismatic Society coin show several years ago, and saw one. The coin was in the middle of a case, with no other coins in the case.
The dealer didn't have a whole lot of inventory in his other cases, and looked like he might not have money enough for bus fare home.
But he had an 1802 Half Dime.
He was "Da Man".

Ray

Barndog

neat thread on an elusive 1802 H10C

CaptHenway

I have a cute story regarding an 1802 half dime totally unrelated to the discussion at hand.

At the 1996 Denver ANA convention, a man came up to our table and showed me an 1802 half dime that was worn almost smooth, but had been bent, way back when, in just the right way that the entire date was intact. I looked at the piece and said,

"You know, I used to work with a man this would have been perfect for. He had a COMPLETE date and mint set of non-Proof copper, nickel and silver U.S. coins, including the 1894-S dime. However, he never had a lot of money, and so a lot of his coins were in low grade. His name was James G. Johnson." (The founder of the Collectors Clearinghouse page at Coin World, where I worked from 1974 to 1978.)

The man startled and said "That's my father!" I looked at his name tag, and sure enough it read "James G. Johnson, Jr." This was Jim's coin.

Tom DeLorey

JrGMan2004

I had done some research, and the coin referenced in the first post has actually appeared in Heritage sales 3 times since 98... I believe it was in 00, 01 and 03, but I don't remember exactly... 2 appearences, the coin did not sell if I remember right...

kranky

Hey, that's a cool story, CH. What a shock that must have been to Junior!

RichieURich

<< <i>At the 1996 Denver ANA convention, a man came up to our table and showed me an 1802 half dime that was worn almost smooth, but had been bent, way back when, in just the right way that the entire date was intact. I looked at the piece and said,

"You know, I used to work with a man this would have been perfect for. He had a COMPLETE date and mint set of non-Proof copper, nickel and silver U.S. coins, including the 1894-S dime. However, he never had a lot of money, and so a lot of his coins were in low grade. His name was James G. Johnson." (The founder of the Collectors Clearinghouse page at Coin World, where I worked from 1974 to 1978.)

The man startled and said "That's my father!" I looked at his name tag, and sure enough it read "James G. Johnson, Jr." This was Jim's coin.

Tom DeLorey >>



Wow! Great story! Two questions: Is this same 1802 half dime one sold by Heritage in either June '04 or Sept. '05 ? And James G. Johnson's set sounds great! I knew about the 1894-S dime, did he also have an 1876-CC 20 cent piece, an 1873-CC No Arrows quarter, an 1853-O No Arrows half, and an 1870-S dollar?

CaptHenway

It wasn't either one of those two Heritage Sales.

Unfortunately, Jim had sold the 1894-S dime and other rarities about a year and a half before I started there, so I don't know what else he had.

TD

Barndog

Dick Osburn sold (last year?) an 1802 half dime that was in an ANACS net-graded holder. It was essentially worn and mangled and netted to PO-1. His asking price was nearly $20K if I recall. I don't know what he sold it for, but he did sell it. FWIW