1832 Half dime please help verify variety (updated 2010)

partagas

I know nothing of varieties, but I was going through some coins I have had forever. I bought this coin back in 1987 at a local coin shop.

Today I started hunting and believe it is an LM-4 which is supposedly very rare. Kinda of cool my old purchase turns out to be a rare variety. It has a big die break above the head, the 12th star is repunched and the 13th star is close to the curl.

Secondly, what is a coin like this worth? I don't collect by die variety, but this one I bought because of the cool crack years ago. Any help would be appreciated.




Updated. So it was suggested that I place the white coin in an envelope and so I did. Here is what the coin looks like today after being inside a coin envelope. What say ye, better or worse?
Sorry for the hastey pics but the best I can do from where I am at.

JadeRareCoin

It is LM-4 (V-12) and it is an R.4 variety (scarce, but not rare). It looks like an early die state. The die break above Liberty's bust on the obverse is actually a retained cud. The value is $250-$350, depending on the grade. Your coin looks like a decent AU. Cool coin!!

Cladiator

Damn! I can't believe I didn't get to reply to this one first. Dennis!!!

You have my #1 favorite Half Dime

Everything Dennis said is totally correct. The LM4 is famous for the retained cud above Liberty's cap. With a rarity level of 4 it's not something your going to retire on but it's not a coin you're going to see every single time you look for half dimes either like the 1832 LM5. To clarify a bit for you, yes your coin will carry a bit of a premium for it's rarity but not a significant one. For the Capped Bust Half Dime, premiums based on rarity generally begin at R4 with R3 and below seeing little or no premium for their rarity ratings. An R5 coin can turn you a serious profit, an R6 coin can absolutely make your day, an R7 will make your year and an R8 will give you a heart attack.

For some pricing references JJ Teaparty currently has an 1832 LM4 in VF for sale at $145 I believe. The Teaparty coin has been up on the website for quite some time now without selling which leads me to believe it's a bit overpriced but probably not by too much. Dick Osburn currently has a Jules Reiver 1832 LM4 in AU58 that was listed at $395 last I checked. Your coin would fall somewhere in between these two examples, but on the high side. With Dick's coin you have to take into account a not only a premium for the R4 but also the pedigree.

I don't have my information infront of me here at work but if no one else has given full details on the LM4 by the time I get home I'll give you as much info as I can on your coin.

Your coin does appear to be a very nice AU specimen. I'm sure it's been dipped to have such a blast white look to it but the coin doesn't appear to be damaged. A decade or two in a Dansco album or paper flip will get rid of that blast white look no problem.

What is the mark on the reverse between the eagle's neck and the right end of the scroll? Can't really tell from the photos.

I'm afraid you've really got my juices flowing with this coin! It is not only my favorite of all the half dime varieties but also one that I do not currently own in AU. Which is a bit embarrasing I must admit. Congratulations on an excellent half dime.





Edited to add: Dennis, the '32 dime is awesome, thank you

partagas

Thanks for the verification guys, this just made my day. It is fun to discover cool things about coins you have had for along time. The coin still has lots of luster, and is the same color as the day I bought it almost 20 years ago (man I am getting old and I am only 33).

The mark is a toning spot or a stain on the coin, can't really tell with a 15x loupe.

It is my only capped half dime.

MrHalfDime

Your 1832 LM-4/V12 Capped Bust half dime is, as others have correctly pointed out, an R4 die marriage, making it scarce, particularly in that grade. In the last JRCS census survey, there were a total of 18 examples reported, in grades ranging from VG-10 to MS-63, with the average grade EF-40. As Cladiator correctly pointed out, that die marriage is usually characterized by the retained cud formed by two obverse die cracks at K11:30 and K12, from the rim to the cap. However, an even scarcer example would NOT have these die cracks. I have two very early die states (VEDS) of this marriage, one with faint die cracks just beginning, and the other with absolutely no trace of the die cracks above the cap. This coin created quite a stir with Russ Logan and Mark Smith when the CBHD book was being written, as no other examples of that VEDS had been seen. In later die states, S2 is filled at top (as seen on your coin), and N1 is filled on the right side (also as seen on your coin). Other diagnostics for this die marriage include O1 doubled at the top, F1 filled at the bottom, and U1 doubled at bottom.

Despite the blast white appearance, strongly suggesting that your coin has been dipped at some point, it is a very attractive and essentially problem free example of a scarce die marriage, in above average grade. A keeper for sure (or you could consider some sort of trade with Cladiator).

Barndog

If you would like to see a really nice 1832 LM-4, check out this ebay auction. This would be the condition census if it were included in the bust half dime census. I thought my MS-62 was sharp until I saw this auction.

LINK

Cladiator

The coin in the auction Barndog posted is an early die state coin (EDS). It looks to have S2 filled and possibly some of N1 but F1 has not yet begun to fail yet on this coin. Also the retained cud is not yet a retained cud but a very thin and fine die crack. Damn nice coin IMO.

Barndog

<< <i>Damn nice coin IMO. >>



Yep, if I had a million dollars laying around, I would love to drop $2500 of it on that coin!

Cladiator

<< <i>

<< <i>Damn nice coin IMO. >>



Yep, if I had a million dollars laying around, I would love to drop $2500 of it on that coin! >>

That's what duplicates are for!

partagas

TTT

Barndog

I think it looks better. Imagine what ten more years will do for it!

Cladiator

Definite improvement in eye appeal IMO.