New Capped Bust Half Dime for the Collection -- Coin arrived!

Barndog

I don't have the coin in hand just yet, but it should be headed my way next week. The baby bustie fans will like this right away, for others it is a matter of personal taste. I'll tell the whole story (attribution, rarity, source, etc.) after I give some of the others in my niche community a chance to have a say.

Here are the seller's photos:

caitlin

Wow nice coin I'm not too good at grading Busties but from what I see it must be an ms66? Sharp strike and love the die crack on the chin. Thanks for sharring. I just starting collecting Capped Bust Dimes myself and hopefully I'll be able to post some images soon.

caitlin

After looking closer is this an over date? 33/32 or just part of another die crack?

NumisOxide

Excellent half dime.

Numismanic

I'll take a stab at attribution and say it is a V-8, LM-6, R.6. One of the major rarities among die varieties of Capped Bust Half Dimes, with only 20 to 30 examples known.

Nice coin!

GoldenEyeNumismatics

laser sharp strike

JrGMan2004

Just pissed my pants Wow Richard, that's incredible!!! Any idea if it's the condition census???

Barndog

<< <i>Just pissed my pants Wow Richard, that's incredible!!! Any idea if it's the condition census??? >>


I'll tell more after Cladiator has a shot at posting. I look forward to having it in hand!

JrGMan2004

<< <i>

<< <i>Just pissed my pants Wow Richard, that's incredible!!! Any idea if it's the condition census??? >>


I'll tell more after Cladiator has a shot at posting. I look forward to having it in hand! >>

I BET!!!

DickyBetz

Cool coin. I cant tell AU vs. MS, but it does look like its been dipped. Great strike too.

JRocco

Hey Barndog, nice coin.
I will not try to attribute this beauty because it is not my series and I am out of my league with this one. My eye goes straight to that reverse though. What character. I love the lapping that caused some of the diagnostics for this one. Look at those arrow shafts
This one has a lot going on and it is this type of characteristic that makes me love these early pieces. Is that clashing under the wings???
Stop posting these beauties or you may have 1 more collector running after these babies

rec78

Very

AlixTCat

Really nice looking coin you'll soon have in hand. What grade would you give it? I don't collect the series, but it looks MS to me.
Thanks for posting these coin images. I like it.

Jonathan

coinandcurrency242

I'm jealous

Whizzard

That'd sure look nice in the empty hole in my 7070! Congrats..

millennium

Nice coin, probably been dipped and cleaned at one time, but heck, a lot older coins have been...

Cladiator

Holy Christ!

Richard....a HUGE CONGRATULATIONS are in order for you and the collectoin!!!

I won't spoil the party and say what the coin is Barndog...that is your well deserved privilege

Wow. Freakin' Wow! Give us details man, details

George, I checked the JRCS census and the finest reported was a 64 with the LM book referencing an XF/AU coin. Barndogs coin should at least give that 64 a run for it's money eh?

! WOW !

RickMilauskas

Very nice bustie!!

Sounds like you made quite a catch!!

CONGRATS!

Barndog

As some of you have already noted, the coin is an example of the 1833 LM-6. This is considered an R-6 die marriage (13-30 known) and very difficult in mint state (two reported in the last JRCS census, one as Cladiator noted is a 64 and another is a 62. An unreported MS example also exists as it was previously noted in the 2001 census -- this one is a 63). The die marriage was discovered by Stewart Witham in 1965 and has also been designated as the W-8 or for convenience with Valentine attribution, the V-8. And yes, the reverse is one of the more interesting in the entire series. This die marriage represents the third use of this particular reverse die. The die has been extensively lapped. You will note that the arrow shafts are quite weak, the arrow feathers are "disappearing," the berries are very weak (and there are no berry stems), and that a tiny cud is forming were the CA meet in AMERICA. Also, notice the tops of the letters ITE, which are rather weak. Logan and McCloskey didn't mention clash marks under the wings and I don't think what is on this coin represents clashes either. I don't see it as damage under the wings. I have another example that is a whole lot crustier than this one that shows the same marks under the right wing, so my conclusion is that the marks are the result of some sort of defect on the die. On the obverse, the marks you can see under the chin and ear are the result of die clashes. There are circulation marks, best I can tell, on the cheek, chin, under the point of the bust, and vicinity of stars 12 and 13. This is not an overdate variety, but I can understand how one might think that when viewing the semi-circle shaped shadow or mark above the second three in the date.

As far as a grade, the coin was advertised as MS-60. No doubt the cataloger identified the marks and that the coin was mint state and assigned the lowest possible UNC grade. Without the coin in hand, I will feel comfortable with that grade and really don't care if it turns out to be "just AU-58." I suspect that it would slab as a 61 if mint state...but I don't want to venture a guess on traces of wear not evident in the photos.

Some price history for this die marriage:
1. In 2002, the Russell Logan specimen, graded by Bowers and Merena as MS-62, sold for $2,400.
2. In 2006, the Jules Reiver specimen, graded NGC AU-58...I think a tad generous for grade, sold for $2,300.
3. In 2006, a Russell Logan duplicate, graded by Brad Karoleff in a mail-bid sale as AU net XF-45 for verdigris/environmental damage, sold for the bargain price of $879. This coin was subsequently conserved by NCS, slabbed as AU details/environmental damage, and then cracked out by its current owner for display in his set.
4. I understand that a VF specimen will be sold at the Denver ANA between friends for a "friends only" price of $300.

This coin was auctioned unattributed as part of a two coin lot of capped bust half dimes. I never saw a picture of the second coin as one was not available in the catalog or on the internet. Its sister was described as an AU-58 1835 half dime...like I cared! My jaw dropped to the floor when I clicked on the lot description in Scotsman's latest sale. I noted the marks on the coin but didn't really care, figuring this coin alone is worth north of $1,000 -- likely $2,000. I placed a bid a full three weeks before the 22 July close of the auction. I couldn't be in St. Louis for the floor auction, so figured I might have some savvy collector inspect the coin and easily outbid me -- that was a risk I took. Much to my surprise, I won the two-coin lot for just $690, including BP. Add nine bucks for shipping and I have a great coin (or two) at a great price. Needless to say, I'm happy. Interestingly, and much to my liking, Scotsman's printed catalog for the auction did not feature photos of either of the two coins in this lot. I think also in my favor is that some of Scotsman's past auctions have received bad "word of mouth" for lower quality coins, poor efforts at cataloging, and some other logistical issues. All that was in my favor this time. I was glad to see reports that the Scotsman auctions have improved. I know I will continue to participate in them as nice coins become available, but I know now that at least a few more forum members will be checking them out too!

Chances are this coin has been dipped at one point. The surfaces do not appear to have suffered from a cleaning however, as it appears that cleaning marks (hairlines) are not evident.

For those of you thinking about collecting baby busties, my recommendation is to start with the Logan and McCloskey text, "Federal Half Dimes 1792-1837" and add a membership to the John Reich Collectors Society (click on Cladiator's sigline). These coins are undervalued, in my opinion. I try to collect coins that are at least XF, with my collection averaging a 52, and I can tell you that you don't have to pay a whole lot for nice coins. Try collecting a full set of most other early silver and paying no more than about $125 for XF-40 coins! These remain a very affordable segment of bust coinage.

I've tried to address each person's comments, let me know if I missed something or if there are more questions.

Cladiator

Congratulations again Barndog. Winning that coin has got to put you on cloud 9. I hope it makes it way to Denver for the rest of us to drool over it for a bit

JJM

Bam ! sweet

Russ

ROCK ON! Nothing I love more than a good rip!

Russ, NCNE

RTS

Wonderful.

JRocco

Congrats again Barndog- not only do you have a great coin there, but you also got it at a GREAT price.
Way to go buddy

Barndog

A quick update: The two coins arrived today. Both are pretty much as described. The R-6 1833 LM-6 is nicer than the picture reveals. There is a light coloration to the coin that doesn't come across in the photo. The price paid for the two coin lot ($699 including BP and shipping) was a rip for just this one coin. This coin is easily worth more than $2,000. As a special bonus, the other coin in the lot (it was not pictured in the auction) turned out to be a common-as-dirt die marriage, the 1835 LM-10 (one of two "small date" and "small 5C" die marriages for the 1835 half dimes). The coin has nice toning and AU-58 is a reasonable grade, save for a small mark on the lower part of the Eagle's shield on the reverse -- looks like a light, toned-over punch mark. Anyway, the special bonus for someone like me is that the upper loop of the second S in STATES on the reverse is not filled. Ho hum to the average person, but not to a baby bustie collector. Most every example of the 1835 LM-10 that is known has the upper loop of the second S in STATES filled with a die chip (likely, the filling happened very early during the coining of this die marriage). Not this one. This is a very early die state without the filled S that is very hard to find. Normally, the coin would be worth about $200, but without the top of the second S in STATES filled, it would be a purchase worthy of a premium to maybe 12-15 people who are nuts enough to seek such things...me being one of them. Sight-seen, I would have paid $350 for this coin due to the scarce die state. Interestingly, about three weeks ago a very noted collector of half dimes called me with some exciting news that he found an 1835 LM-10 in F-VF without the second S in STATES filled -- and he has been collecting these things for more than 20 years! Photos may have to wait until Denver when I can have someone with some skill do it. I may give it a shot before then if time becomes available.

BlindedByEgo

Barndog - great coin rip and an excellent, informative post! I can't believe I read every word, but I was fascinated with the story.

CoinAddict

A very nice rip, Richard. I can't wait to see additional pics of the coins.

MrHalfDime

Barndog:

Your diligence and patience has certainly paid off, and rewarded you with two nice baby busties. The 1833 LM-6/V8 is a solid R6, and is usually found in grades of VF or less. Over the past twenty-five years, with determined searching, I have managed to cherry-pick just four specimens of that marriage, ranging from VG to an AU-55 which presently resides in my collection. Your example may very well be a condition census piece, and certainly ranks quite high in the latest JRCS half dime census.

The 1835 LM-10/V7, as you correctly pointed out, is perhaps the single most common die marriage in the entire series, but certainly not with S2 not filled. Although we have not compiled data on that die state, I have found that die state to be extremely scarce. My own best specimen is presently EF-45, one of just three examples that I have owned.

I hope that others will be inspired by your success, and by your excellent posts regarding the pleasure you have derived from collecting this fascinating series. Collecting the early Federal silver coinage is a rewarding and satisfying endeavor, and one that should be seriously considered by more collectors.

Nysoto

Congratulations Barndog on your cherrypick of an important rarity! I don't collect the series, but I always enjoy reading what the half dime experts here have to say - JRGman, Cladiator, Barndog, and Mr. HalfDime.

It always pays to check the obscure auctions for rare stuff.