My "Colorful" Half Dollar Type Collection
WingedLiberty1957
Posts: 2,980 ✭✭✭✭✭
I wanted to share one of my favorite parts of my collection with the board. I have been working on this collection since January 2011 -- and as some of you know, I have a passion for coins with interesting color and/or toning patterns, so when I could find a colorfully toned example of a type, I made the leap.
Flowing Hair: I knew the early Flowing Hair Half Dollar was going to be a stumbling block. The Flowing Hair Half was the first Half Dollar type minted in the U.S and was only produced for two years: 1794 and 1795. It sports the "Small Eagle" reverse, a design that Ben Franklin complained looked more like a turkey than an eagle. According to the Guide Book of U.S. Type Coins, only between 3,500 and 6,000 Flowing Hair Half Dollars remain in existence -- so this is a very rare type coin. I wasn't sure I would ever acquire this early Half Dollar; but then I saw a Good condition example sell for a bit over $1000 at an auction, a price that peaked my interest. When I started seriously looking, I was surprised how many examples were very unattractive with many having been dipped or cleaned to an unnatural white color. I certainly never thought I would find a beautiful Flowing Hair Half that was colorfully toned, had eye appeal, was PCGS graded, and in my price range. When I stumbled on this newly listed PCGS-graded F15 Flowing Hair Half from a liquidated estate in California, I knew I had to pull the trigger, even if it did stretch my budget right to its limit (1.24x over the PCGS price guide).
Draped Bust: The Draped Bust Half, with the Heraldic Eagle reverse, shows very natural (original looking) tri-colored (gray, taupe, and brown) toning. Although it's not colorful in the classic sense of the word, it has a pleasant, softly-worn character and is a nice solid example of this type. The field population for this type is also low, estimated between 11,000 and 15,000 coins, so this is also a rare type. It's interesting but I recall reading that many of these Bust Half Dollars from the early 1800's were shipped to France to help pay for the Louisiana Purchase (15 million dollars for 15 States). Who knows, maybe this particular Half Dollar bought a couple of counties in Missouri! I bought this coin raw at a bargain price of only $350 from 900Fine (a CoinTalk forum member). Both the seller and I estimated the grade solidly around F15 using the Photograde Guide Book (with the key factor being the number of letters in the E PLURIBUS UNUM banner on the reverse). You can imagine my shock when I got it back from PCGS stamped with a VF25 grade, which nearly tripled its value to close to $1000!! My only thought was that PCGS either attributed the loss of detail to a weak strike, or they did a market upgrade based on a number of nice attributes of this coin including: a centered strike, relatively few marks, and nice original toning/patina. It's interesting, but I don't think I've ever seen a truly colorfully toned example of this type -- though there must be a few out there.
Capped Bust: The Capped Bust Half was another bargain that I bought from Illini420 for $495 in October 2011, who had purchased it in an unphotographed Auction Lot. This was a PCGS graded AU50 that was attributed as Ex. Guttag Family (brothers who operated a Coin Dealership in New York in the 1920's and 1930's). The color on this is just spectacular, even better than the photo shows (IMHO). I think this rivals some of the better registry CBH's I've seen. Certainly few are better at a price under $500!
Seated Liberty: My Seated Liberty Half was a PCGS graded PR62 OGH that I bought from Goldberg Auctions for $1500 + $225 buyers premium. This coin has great color and superb visual interest -- and I have to admit was a difficult coin to acquire. This coin fired off at a live auction with a lot of motivated bidders and I ended up winning it (barely) at a 1.92x premium -- however it's very unique looking with a lot of appeal, so I didn't mind paying up. The toning on the reverse really sets off the detail in the eagle, just look at those feathers and talons! I was shocked though when the price kept shooting up in $100 increments every few seconds before the hammer fell (nearly doubling the price over the last 10 seconds). I wondered when I bought this if it was slightly undergraded and might actually be closer to a PR63, which could explain the spirited bidding. Old Green Holder PCGS coins sometimes do pop a grade on a re-grade submission. It turns out my thoughts on the grade were correct since after sumbitting this for a regrade through PCGS Secure Plus, it came back one grade higher as PR63, which means I actually bought this for less than the guide price. I think that Proofs dated in the 1800's are a great bargain. This coin, minted in the early years of the Civil War, has a mintage of only 550, yet sells for little more than a high grade business strike that has a mintage of over 250,000 (of course I realize it's all about field populations!). It does make me wonder who had the gumption to buy a Proof coin from the U.S.Mint in Phildelphia in 1862, while one of the bloodiest wars in our nations history raged on. That might by why only 550 proofs walked out the door that year. In any case, you cannot beat the Proof strike for the exquisite detail.
Barber: The Barber Half, named after the coins designer Charles Barber, I also bought through Goldberg Auctions. It is an NGC graded PF63 that I bought for $950 + $143 buyers premium. A price well under the NGC Guide Price. Attractive Barber Halfs are a tough find, which really surprised me! Just try finding a pretty and colorful Barber Half at a reasonable price, they are impossible. I tried crossing this to PCGS, but they wouldnt cross it at the PR63 grade, so I think they wanted to knock it down to a PR62 or lower. Once again I think Proof Barbers are a bargain. This 1893 Proof had a mintage of only 792, yet sells for less than an MS63 of the same year (even with an 1893 business strike mintage of nearly 2 million). And once again, you just cannot beat the tremendous detail you get with the Proof strike. Note the great detail in the hair and leaves on the obverse, or of the eagle feathers on the reverse. It's really striking and beautiful.
Walking Liberty: For the Walking Liberty Half (graded MS66), I paid a sizeable 2.68x toning premium ($750, ouch), however this coin was the most beautiful WL I had ever seen at the time (and might vie for one of the most beautiful coins, of any type, I'd ever seen). The color and luster is just breathtaking. Honestly I now think this was a bargain at $750 (which was the Buy It Now price on eBay.) The striking primary redish-gold color is exceedingly memorable; add in the highlights of pinks, ambers, and greens and you have a truely exceptional coin. The eagle on the reverse has a slight cameo appearance and the toning serves to highlight the exquisite detail of this coin that some say is one of the most beautiful designs ever struck by this great country. There is some lack of feather detail on the eagles leg (a common occurance on Walkers), but that doesnt take away from the gem MS66 grade. I love that the toning is so uniform with smooth transtions -- and that both sides are equally and fully toned -- and when you add in the lack of black or gray spotting and you have the makings of a monster one-of-a-kind masterpiece that might belong more on the wall of an art gallery than locked away in my safe deposit box.
Franklin: For the Franklin Half Dollar (graded PR66), I paid a hefty 4.25x toning premium ($152). The bidding was heavy and fierce on this coin that was sold in an open eBay auction by CoinsAreFun -- however, I thought it was the most appealing Franklin I had ever come across, with visually striking, uniform 2-sided color, so I was willing to pay up for this. This coin just "pops" in hand. I like that it's from the last year of issue, giving this coin a bit of added nostalgia at the prospect of this relatively short 16-year series ending. You really don't see too many beautiful 1963 Franklins for some reason. It's kind of amazing that this was minted the same year that the Beatles exploded onto the U.S. music scene with their November 1963 release "I Want to Hold your Hand". Where do the years go?
Kennedy: The 1968-D 40% Silver Kennedy, graded MS66, I bought from eBay for $250. This was sizeable toning premium -- however I was desperate to add a colorful Kennedy to my collection (something surprisingly difficult to find). The 1968-D Kennedy is an outlier in the 40% Silver Kennedy run in the MS66 grade with a guide price of only $12 (meaning I paid close to a 20x toning premium, double ouch). It's interesting to me how the guide price for an MS66 1969-D (a coin with a similar mintage and history, minted only 1 year later) jumps to $275 (over 20x the value of a 1968-D at the same grade!!!). And of course going just 1 grade higher from MS66 to MS67, the price guide goes wild with an MS67 1968-D having a guide price value of $2,750 (wow) -- over 200x more than an MS66 version. So if you are looking for a high grade Kennedy Half in 40% silver, go for the 1968-D in MS66 grade -- that's the bargain coin from this era. If this was a 1969-D Kennedy with this kind of toning, I have a feeling I would have been looking at a $500+++ (perhaps over $1000) pricetag. And if this was an MS67, forget about it!! I would have been looking at a price closer to $3000. So I feel fortunate to have picked this up for "only" $250.
Finally, I wanted to add that the Half Dollar denomination is my favorite for type collecting for a number of reasons:
1. Half-dollar coins are large and details are easier to see with the naked eye
2. The one-dollar denomination coin had a lot of gaps in production (many missing years) so $1 coins always seemed like a "choppy" series to me and most of the designs in the early years were copied on the Half Dollar anyway.
3. After 1978, they kept changing the size of the one-dollar coins, while half-dollar coins stayed roughly the same size from 1794 to date, so a collection of half-dollar type coins looks more tied together than one-dollar type coins.
4. Half-dollar coins provide more major types (I think the most, at 8? ... not sure about that)
5. The major (design) types are (for the most part) identical between the dime, quarter, and half from 1796 to 1916, so why not collect the largest version
6. Half dollars are just on the edge of being a coin that circulates, so it's recognizable, while still being a little bit exotic
7. High-grade half dollars can be cheaper than dimes and quarters of the same type and grade because halfs didnt circulate (wear down) as much -- so more are available in high grades
In any case, this set is not a completed endeavor. I would still like to upgrade my Draped Bust Half (find one with some color) and perhaps find a better Barber Half (it's hard to find a really pretty example for some reason) -- and I know I am missing a lot of "sub-types" -- but that's the fun of future hunting!
Hope you all enjoy this little view into one of my favorite parts of my collection, which provides a nearly complete historical perspective of the history of U.S Half Dollar design since this great nation was founded over 235 years ago.
Flowing Hair: I knew the early Flowing Hair Half Dollar was going to be a stumbling block. The Flowing Hair Half was the first Half Dollar type minted in the U.S and was only produced for two years: 1794 and 1795. It sports the "Small Eagle" reverse, a design that Ben Franklin complained looked more like a turkey than an eagle. According to the Guide Book of U.S. Type Coins, only between 3,500 and 6,000 Flowing Hair Half Dollars remain in existence -- so this is a very rare type coin. I wasn't sure I would ever acquire this early Half Dollar; but then I saw a Good condition example sell for a bit over $1000 at an auction, a price that peaked my interest. When I started seriously looking, I was surprised how many examples were very unattractive with many having been dipped or cleaned to an unnatural white color. I certainly never thought I would find a beautiful Flowing Hair Half that was colorfully toned, had eye appeal, was PCGS graded, and in my price range. When I stumbled on this newly listed PCGS-graded F15 Flowing Hair Half from a liquidated estate in California, I knew I had to pull the trigger, even if it did stretch my budget right to its limit (1.24x over the PCGS price guide).
Draped Bust: The Draped Bust Half, with the Heraldic Eagle reverse, shows very natural (original looking) tri-colored (gray, taupe, and brown) toning. Although it's not colorful in the classic sense of the word, it has a pleasant, softly-worn character and is a nice solid example of this type. The field population for this type is also low, estimated between 11,000 and 15,000 coins, so this is also a rare type. It's interesting but I recall reading that many of these Bust Half Dollars from the early 1800's were shipped to France to help pay for the Louisiana Purchase (15 million dollars for 15 States). Who knows, maybe this particular Half Dollar bought a couple of counties in Missouri! I bought this coin raw at a bargain price of only $350 from 900Fine (a CoinTalk forum member). Both the seller and I estimated the grade solidly around F15 using the Photograde Guide Book (with the key factor being the number of letters in the E PLURIBUS UNUM banner on the reverse). You can imagine my shock when I got it back from PCGS stamped with a VF25 grade, which nearly tripled its value to close to $1000!! My only thought was that PCGS either attributed the loss of detail to a weak strike, or they did a market upgrade based on a number of nice attributes of this coin including: a centered strike, relatively few marks, and nice original toning/patina. It's interesting, but I don't think I've ever seen a truly colorfully toned example of this type -- though there must be a few out there.
Capped Bust: The Capped Bust Half was another bargain that I bought from Illini420 for $495 in October 2011, who had purchased it in an unphotographed Auction Lot. This was a PCGS graded AU50 that was attributed as Ex. Guttag Family (brothers who operated a Coin Dealership in New York in the 1920's and 1930's). The color on this is just spectacular, even better than the photo shows (IMHO). I think this rivals some of the better registry CBH's I've seen. Certainly few are better at a price under $500!
Seated Liberty: My Seated Liberty Half was a PCGS graded PR62 OGH that I bought from Goldberg Auctions for $1500 + $225 buyers premium. This coin has great color and superb visual interest -- and I have to admit was a difficult coin to acquire. This coin fired off at a live auction with a lot of motivated bidders and I ended up winning it (barely) at a 1.92x premium -- however it's very unique looking with a lot of appeal, so I didn't mind paying up. The toning on the reverse really sets off the detail in the eagle, just look at those feathers and talons! I was shocked though when the price kept shooting up in $100 increments every few seconds before the hammer fell (nearly doubling the price over the last 10 seconds). I wondered when I bought this if it was slightly undergraded and might actually be closer to a PR63, which could explain the spirited bidding. Old Green Holder PCGS coins sometimes do pop a grade on a re-grade submission. It turns out my thoughts on the grade were correct since after sumbitting this for a regrade through PCGS Secure Plus, it came back one grade higher as PR63, which means I actually bought this for less than the guide price. I think that Proofs dated in the 1800's are a great bargain. This coin, minted in the early years of the Civil War, has a mintage of only 550, yet sells for little more than a high grade business strike that has a mintage of over 250,000 (of course I realize it's all about field populations!). It does make me wonder who had the gumption to buy a Proof coin from the U.S.Mint in Phildelphia in 1862, while one of the bloodiest wars in our nations history raged on. That might by why only 550 proofs walked out the door that year. In any case, you cannot beat the Proof strike for the exquisite detail.
Barber: The Barber Half, named after the coins designer Charles Barber, I also bought through Goldberg Auctions. It is an NGC graded PF63 that I bought for $950 + $143 buyers premium. A price well under the NGC Guide Price. Attractive Barber Halfs are a tough find, which really surprised me! Just try finding a pretty and colorful Barber Half at a reasonable price, they are impossible. I tried crossing this to PCGS, but they wouldnt cross it at the PR63 grade, so I think they wanted to knock it down to a PR62 or lower. Once again I think Proof Barbers are a bargain. This 1893 Proof had a mintage of only 792, yet sells for less than an MS63 of the same year (even with an 1893 business strike mintage of nearly 2 million). And once again, you just cannot beat the tremendous detail you get with the Proof strike. Note the great detail in the hair and leaves on the obverse, or of the eagle feathers on the reverse. It's really striking and beautiful.
Walking Liberty: For the Walking Liberty Half (graded MS66), I paid a sizeable 2.68x toning premium ($750, ouch), however this coin was the most beautiful WL I had ever seen at the time (and might vie for one of the most beautiful coins, of any type, I'd ever seen). The color and luster is just breathtaking. Honestly I now think this was a bargain at $750 (which was the Buy It Now price on eBay.) The striking primary redish-gold color is exceedingly memorable; add in the highlights of pinks, ambers, and greens and you have a truely exceptional coin. The eagle on the reverse has a slight cameo appearance and the toning serves to highlight the exquisite detail of this coin that some say is one of the most beautiful designs ever struck by this great country. There is some lack of feather detail on the eagles leg (a common occurance on Walkers), but that doesnt take away from the gem MS66 grade. I love that the toning is so uniform with smooth transtions -- and that both sides are equally and fully toned -- and when you add in the lack of black or gray spotting and you have the makings of a monster one-of-a-kind masterpiece that might belong more on the wall of an art gallery than locked away in my safe deposit box.
Franklin: For the Franklin Half Dollar (graded PR66), I paid a hefty 4.25x toning premium ($152). The bidding was heavy and fierce on this coin that was sold in an open eBay auction by CoinsAreFun -- however, I thought it was the most appealing Franklin I had ever come across, with visually striking, uniform 2-sided color, so I was willing to pay up for this. This coin just "pops" in hand. I like that it's from the last year of issue, giving this coin a bit of added nostalgia at the prospect of this relatively short 16-year series ending. You really don't see too many beautiful 1963 Franklins for some reason. It's kind of amazing that this was minted the same year that the Beatles exploded onto the U.S. music scene with their November 1963 release "I Want to Hold your Hand". Where do the years go?
Kennedy: The 1968-D 40% Silver Kennedy, graded MS66, I bought from eBay for $250. This was sizeable toning premium -- however I was desperate to add a colorful Kennedy to my collection (something surprisingly difficult to find). The 1968-D Kennedy is an outlier in the 40% Silver Kennedy run in the MS66 grade with a guide price of only $12 (meaning I paid close to a 20x toning premium, double ouch). It's interesting to me how the guide price for an MS66 1969-D (a coin with a similar mintage and history, minted only 1 year later) jumps to $275 (over 20x the value of a 1968-D at the same grade!!!). And of course going just 1 grade higher from MS66 to MS67, the price guide goes wild with an MS67 1968-D having a guide price value of $2,750 (wow) -- over 200x more than an MS66 version. So if you are looking for a high grade Kennedy Half in 40% silver, go for the 1968-D in MS66 grade -- that's the bargain coin from this era. If this was a 1969-D Kennedy with this kind of toning, I have a feeling I would have been looking at a $500+++ (perhaps over $1000) pricetag. And if this was an MS67, forget about it!! I would have been looking at a price closer to $3000. So I feel fortunate to have picked this up for "only" $250.
Finally, I wanted to add that the Half Dollar denomination is my favorite for type collecting for a number of reasons:
1. Half-dollar coins are large and details are easier to see with the naked eye
2. The one-dollar denomination coin had a lot of gaps in production (many missing years) so $1 coins always seemed like a "choppy" series to me and most of the designs in the early years were copied on the Half Dollar anyway.
3. After 1978, they kept changing the size of the one-dollar coins, while half-dollar coins stayed roughly the same size from 1794 to date, so a collection of half-dollar type coins looks more tied together than one-dollar type coins.
4. Half-dollar coins provide more major types (I think the most, at 8? ... not sure about that)
5. The major (design) types are (for the most part) identical between the dime, quarter, and half from 1796 to 1916, so why not collect the largest version
6. Half dollars are just on the edge of being a coin that circulates, so it's recognizable, while still being a little bit exotic
7. High-grade half dollars can be cheaper than dimes and quarters of the same type and grade because halfs didnt circulate (wear down) as much -- so more are available in high grades
In any case, this set is not a completed endeavor. I would still like to upgrade my Draped Bust Half (find one with some color) and perhaps find a better Barber Half (it's hard to find a really pretty example for some reason) -- and I know I am missing a lot of "sub-types" -- but that's the fun of future hunting!
Hope you all enjoy this little view into one of my favorite parts of my collection, which provides a nearly complete historical perspective of the history of U.S Half Dollar design since this great nation was founded over 235 years ago.
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- Bob -
MPL's - Lincolns of Color
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type2,CCHunter.
Thanks for sharing..
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great write-up
even neater you include prices...never really understood why most keep this...hush-hush...oh well
fingers crossed i still hope a couple of my lincolns fit in your top 100
should be any day now as they were received april 9th on a 30 economy
Rainbow Stars
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I'm sure it comes as no surprise, but I really like that nicely toned 1826 bust half.
Great job and congrats again on a beautiful set
I also enjoy reading your descriptions, adds education
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
I'm trying to figure out why the Barber didn't cross (?)
I love the Frankie!
AB
U.S. Type Set
Lakesammman, only $200? (wink)
Illini, you did such a great job birddogging that CBH ... I am indebted to you for selling it to me! Thank you so much!!!
Lasvegasteddy, yes, i agree, seeing prices is eductional for others (knowing what the marketplace is like) ... tho I bet some dont like posting prices for privacy issues or because they dont want to hear how they got ripped off (I can understand both points)
Davideo, in terms of which series was easist to find toned. by far it's the Franklin series, mostly because of all the monster Mint Set toned examples. Kennedy's are TOUGH! You can find some beautiful toned Walkers here and there but they get pricey fast. The Barber series I think might be one of the TOUGHEST for finding pretty examples. Seated Liberty I have seen some nice toned coins. And Capped Bust you can find toned if you look hard enough. Draped Bust is REALLY tough for color. I dont think I have seen a colorful Draped Bust in the 1.5 years I've been looking (however I bet a few are out there). The Flowing Hair is hard because the field population is so low ... so there is just not much to pick from.
Bryce, yes you are right ... pay up for quality if you can afford it! it's cheaper in the long run.
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