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Look What I Dug Up! Not really, but someone else did.
IloiloKano
Posts: 1,051
This was reported in an email from Heritage regarding an upcoming auction, and it seemed fitting to post it here...
It is always an exciting event when a newly discovered numismatic rarity is reported. Such was the case when an 1817/4 half dollar was unearthed (literally!) by contractor George Williams while raking fill in upstate New York. This is the eighth known specimen of this rare overdate, originally offered in our January 2006 FUN Auction, shortly after it was discovered, and now available again in our upcoming Central States Signature Auction.
News of the discovery appeared in the October 24, 2005 edition of Coin World. Williams said he ordered a load of fill for some foundation work he was doing. He was raking the soil when he heard a 'cling.' His son Nial, 19, turned the hose on the object and revealed an early date half dollar.
The Coin World article goes on to say that when Williams returned home with the coin, his 14-year-old coin-collecting son, Cullinan, looked it up in A Guide Book of United States Coins (the 'Red Book'). The boy then printed a copy of bust half dollar specialist Sheridan Downey's commentary on the 1817/4 half dollar in Collectors Universe's CoinFacts.com web site that revealed more details about the rare overdate. The entire family then became increasingly excited about the find. The coin would eventually certified by ANACS with XF Details and some corrosion. This made it the second finest known survivor behind an AU50 example that sold for $333,500 in November 2004 and the eighth known example of this rarity. (A ninth specimen was discovered after the 2006 offering of the present piece. The ninth known example is ICG graded VG8, with an obverse scratch, and appeared in our July 2008 auction, where it realized just under $90,000.)
Why is the 1817/4 variety so rare, i.e., why were so few apparently minted? Part of the reason may stem from Wallis' thought above that the die may have broken when the 7 was cut over the 4, which had been partially effaced by Mint personnel. We might speculate that this effacing weakened the die, causing premature failure after just a few strikings. In this regard, it is interesting to note that the 1817/4's cousin, the 1817/3, did not have the 3 effaced, and was produced with a considerably higher mintage. This leads to another intriguing question: was the 1817/4 struck prior to the 1817/3? If the theory that effacement of the 1817/4 caused the obverse die to break is given credence, then perhaps Mint personnel, wanting to avoid a repeat of this problem, skipped the effacement process for the 1817/3 variety.
Downey presents additional information that may help to explain the shorter-than-normal life of the 1817/4 obverse die. In his April 1, 1997 catalog of the Alfred E. Burke 1817/4 specimen, he states:
'I have seen and studied the Dosier, Overton, Burke and Meyer specimens. It is apparent that the obverse die was poorly prepared, either in 1814 or when it was reworked in 1817. Its face was 'sprung' or warped, not flat. When brought down in the screw press it unevenly impressed the planchet. The high portion of the left side of the die, the fields, could not properly smooth the natural roughness of a raw planchet. The adjoining curls, struck from the low areas of the die, are noticeably flat. The absence of pressure on the obverse, of course, led to weakness on the reverse. Thus we see flatness along the right side of the shield, the claws below and the tip of the right wing. Two theories seek to explain the shorter life of the die. First, it was not properly hardened after the annealing process, leading to its early fracture. Second, its irregular shape subjected portions of the die to unusual pressure during the coining process, again leading to early deterioration.'
As mentioned earlier, this specimen was discovered by George Williams of upstate New York. One of the outstanding features of this new discovery is its detail. The design elements display remarkable definition. The star centers are sharp, and Liberty's face, bust, and drapery are strong, as is the clasp. The eagle's feathers and talons and the shield lines are also nicely delineated. Portions of the right (facing) sides of both obverse and reverse reveal minor softness (characteristic of the variety), but even these areas stand out. The motifs are fairly well centered on the planchet, and about three-fourths of the dentilation shows. Remnants of the underdigit 4 are clearly visible beneath the 7, including serifs and crossbar. The small notch on the final star, believed to be the trademark of engraver John Reich, is evident, and the vertical die crack that is diagnostic of the die state bisects Liberty's portrait. Semi-bright, silver-gray surfaces take on a slightly darker gray appearance in the recessed areas. A few light corrosion patches are scattered over each side, but fortunately do not interfere with the design detail. Whatever surface roughness there is, it is primarily confined to the fields. All in all, this specimen is a strong contender for the second finest of the eight [now nine] known examples, despite the minor corrosion. We expect spirited bidding when this coin crosses the auction block.
Here's the online link: Seldom Seen Selections: Look What I Dug Up!
It is always an exciting event when a newly discovered numismatic rarity is reported. Such was the case when an 1817/4 half dollar was unearthed (literally!) by contractor George Williams while raking fill in upstate New York. This is the eighth known specimen of this rare overdate, originally offered in our January 2006 FUN Auction, shortly after it was discovered, and now available again in our upcoming Central States Signature Auction.
News of the discovery appeared in the October 24, 2005 edition of Coin World. Williams said he ordered a load of fill for some foundation work he was doing. He was raking the soil when he heard a 'cling.' His son Nial, 19, turned the hose on the object and revealed an early date half dollar.
The Coin World article goes on to say that when Williams returned home with the coin, his 14-year-old coin-collecting son, Cullinan, looked it up in A Guide Book of United States Coins (the 'Red Book'). The boy then printed a copy of bust half dollar specialist Sheridan Downey's commentary on the 1817/4 half dollar in Collectors Universe's CoinFacts.com web site that revealed more details about the rare overdate. The entire family then became increasingly excited about the find. The coin would eventually certified by ANACS with XF Details and some corrosion. This made it the second finest known survivor behind an AU50 example that sold for $333,500 in November 2004 and the eighth known example of this rarity. (A ninth specimen was discovered after the 2006 offering of the present piece. The ninth known example is ICG graded VG8, with an obverse scratch, and appeared in our July 2008 auction, where it realized just under $90,000.)
Why is the 1817/4 variety so rare, i.e., why were so few apparently minted? Part of the reason may stem from Wallis' thought above that the die may have broken when the 7 was cut over the 4, which had been partially effaced by Mint personnel. We might speculate that this effacing weakened the die, causing premature failure after just a few strikings. In this regard, it is interesting to note that the 1817/4's cousin, the 1817/3, did not have the 3 effaced, and was produced with a considerably higher mintage. This leads to another intriguing question: was the 1817/4 struck prior to the 1817/3? If the theory that effacement of the 1817/4 caused the obverse die to break is given credence, then perhaps Mint personnel, wanting to avoid a repeat of this problem, skipped the effacement process for the 1817/3 variety.
Downey presents additional information that may help to explain the shorter-than-normal life of the 1817/4 obverse die. In his April 1, 1997 catalog of the Alfred E. Burke 1817/4 specimen, he states:
'I have seen and studied the Dosier, Overton, Burke and Meyer specimens. It is apparent that the obverse die was poorly prepared, either in 1814 or when it was reworked in 1817. Its face was 'sprung' or warped, not flat. When brought down in the screw press it unevenly impressed the planchet. The high portion of the left side of the die, the fields, could not properly smooth the natural roughness of a raw planchet. The adjoining curls, struck from the low areas of the die, are noticeably flat. The absence of pressure on the obverse, of course, led to weakness on the reverse. Thus we see flatness along the right side of the shield, the claws below and the tip of the right wing. Two theories seek to explain the shorter life of the die. First, it was not properly hardened after the annealing process, leading to its early fracture. Second, its irregular shape subjected portions of the die to unusual pressure during the coining process, again leading to early deterioration.'
As mentioned earlier, this specimen was discovered by George Williams of upstate New York. One of the outstanding features of this new discovery is its detail. The design elements display remarkable definition. The star centers are sharp, and Liberty's face, bust, and drapery are strong, as is the clasp. The eagle's feathers and talons and the shield lines are also nicely delineated. Portions of the right (facing) sides of both obverse and reverse reveal minor softness (characteristic of the variety), but even these areas stand out. The motifs are fairly well centered on the planchet, and about three-fourths of the dentilation shows. Remnants of the underdigit 4 are clearly visible beneath the 7, including serifs and crossbar. The small notch on the final star, believed to be the trademark of engraver John Reich, is evident, and the vertical die crack that is diagnostic of the die state bisects Liberty's portrait. Semi-bright, silver-gray surfaces take on a slightly darker gray appearance in the recessed areas. A few light corrosion patches are scattered over each side, but fortunately do not interfere with the design detail. Whatever surface roughness there is, it is primarily confined to the fields. All in all, this specimen is a strong contender for the second finest of the eight [now nine] known examples, despite the minor corrosion. We expect spirited bidding when this coin crosses the auction block.
Here's the online link: Seldom Seen Selections: Look What I Dug Up!
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