Whats everyones take on the 1836 reeded edge bust half -desirable or ?

mkman123 · February 15, 2013 1:37AM

Hi all, this coin has a low mintage and a high price.........is this a desirable coin or do most people just get the lettered edge? I know the 1837-1839 have a good following of people but do most people who work on capped busts care about this coin or is it really not that important to have?

Thanks!
Mike

commoncents05 · February 15, 2013 1:41AM

Very desirable.

-Paul

TomB · February 15, 2013 2:48AM

It's a great coin with a much higher mintage than often quoted, in my opinion.

Wooly · February 15, 2013 2:48AM

You bet it's desirable, at least to me. First coin struck in the new steam presses, lady liberty design was redone. The reeded edged. Then throw in the low mintage and its collector following, and you have yourself a home run of a coin.

coinlieutenant · February 15, 2013 2:56AM

Very difficult coin with what probabilistically comes with a misstated mintage. Either way, the coin is a bear to find nice, especially circulated.

mkman123 · February 15, 2013 3:17AM

reason I'm asking is I did a google search and a few popped up for sale on some dealer sites. Would have thought something rarer than that would be more difficult to track down

TahoeDale · February 15, 2013 3:24AM

When I decided to complete the Red Book set of Halves, I included the reeded edge series,
and the 1836 has been one of the toughest to find in MS. With the 37 the easiest.

I think I have seen the 36 twice in 63, the 38 once in 65, and the 39 twice in 65.

I have only owned one each of these scarcer dates, and many of the 37.

I have no knowledge if the mintage of the 36 is accurate, only that looking for 20 years
has revealed only one other 63, and none higher. Coin Facts exhibits a few, but I have never come across them in sales or websites.

And the 1839-0 is even tougher in MS or better.

HalfCollector · February 15, 2013 11:19PM

The 1836 RE is scarce but not rare. What the others have said is "dead on" and come from collectors that know the coin and it's availability. First, let me say that the Bust Half collectors donot include this coin in their collections because Overton recognized only the Lettered Edge halfs in his Variety Manual.

As Tom mentioned, and he has studied this very extensively, the mintage for the coins is most probably more than the 1200 mentioned but still not robust.

Dale's comments are most important when chasing the 1836 RE. They are available at most any show or auction, as you found in your search. But most have been abused over the years and even when you find one in a TPG plastic holder that does not mean that the coin has not had some abuse over the years.

Both Dale and Tom have very good eyes for original coins and most people would say I do also, and I spent 5 years looking for an AU 1836 RE half before I finally pulled the trigger ( and I must add that price was not a consideration within reason ). They are extremely difficult to find in nice, original condition at any grade level, and if you come across one donot be afraid to pay up to get it. They are as I mentioned available, but not readily acceptable.

And Dale's comment on the 1839-O, which probably has 6 times the mintage of the 1836, but is 100 times more difficult to find in all grade levels, if you are looking for a nice, original coin. They are just not available.

Pick yourself up one, as they are a neat coin with a lot of history to them, but be patient and hunt for a "nice" one.

denga · February 16, 2013 4:11AM

Some general points about the 1836 reeded-edge half dollar:

1) It was not the first coin struck on the steam coining press; that honor fell to the cent in March 1836.

2) The Redbbok information on this coin is wrong. It is not .900 fine but rather .8924+ under the
law of 1792. The fineness was not changed to .900 until January 1837.

3) Because the 1836 reeded-edge coin has a different weight and fineness than the 1837 issue, the
1836 is either a type coin or an important variety.

4) The mintage figure normally seen, 1200, is much too low and was an estimate made by Walter
Breen in a misunderstanding of the monthly mintage figures for 1836. Mint records do not distinguish
between reeded-edge and lettered-edge coins for 1836 but the true mintage of the reeded-edge half
dollar is perhaps 5,000 pieces, give or take.

5) These are not pattern coins, as is thought by some, but rather regular-issue coins for circulation.

BillJones · February 16, 2013 4:35AM

I would not mind having one ... I'm just not willing to pay that much it.

LochNESS · February 16, 2013 4:47AM

<< <i>reason I'm asking is I did a google search and a few popped up for sale on some dealer sites. Would have thought something rarer than that would be more difficult to track down >>

I've had similar suspicions about some darkside coins, which are listed with extremely low numbers, yet appear regularly. I suppose it's possible the owners are flipping for quick profit (like buying a $10 million coin and selling six months later for $12 mil; who has their money on six months?

). This would be akin to "day trading" on the stock market? An example would be an Ecuador coin that I have, which Krause claims "35 known to exist" for VIP sets. And yet, over a dozen are slabbed, and both slabs and raws are on eBay regularly. I know Krause has the occasional typo, but hammer prices support the claims.

You just need to be 110% certain that you love the coin, and are comfortable keeping it for years to come.

Yukoncornelius1 · February 16, 2013 5:04AM

<< <i>

<< <i>reason I'm asking is I did a google search and a few popped up for sale on some dealer sites. Would have thought something rarer than that would be more difficult to track down >>

I've had similar suspicions about some darkside coins, which are listed with extremely low numbers, yet appear regularly. I suppose it's possible the owners are flipping for quick profit (like buying a $10 million coin and selling six months later for $12 mil; who has their money on six months?

). This would be akin to "day trading" on the stock market? An example would be an Ecuador coin that I have, which Krause claims "35 known to exist" for VIP sets. And yet, over a dozen are slabbed, and both slabs and raws are on eBay regularly. I know Krause has the occasional typo, but hammer prices support the claims.

You just need to be 110% certain that you love the coin, and are comfortable keeping it for years to come. >>

Better be careful, you don't want to make Laura hysterical.

jdimmick · February 16, 2013 6:26AM

I have owned a few in VF thru AU, IMO, many are available as compared to mintage figures it seemed ( I was not aware of the mintage estimate error , Until I read this post) Makes since, as I see them all the time at even regional shows.
The avg coins I have always had a hard time getting anywhere close to sheet for(hard sale), the nicer ones were a bit easier.

No experience in MS level , would never care to own one for my personal collection

39-o to me is a much better and tougher coin across the board

jim

mozin · February 16, 2013 6:48AM

I recommend against bidding for any nice AU/MS Reeded Edge Bust Half Dollars. I have yet to find one single Reeded Edge that I want for my collection. I do own the new book on them A REGISTRY OF DIE VARIETIES OF REEDED EDGE HALF DOLLARS 1836-1839 by Dick Graham, a regular forum poster. I believe in buying the book before buying the coins.

LochNESS · February 16, 2013 7:00AM

<< <i>Better be careful, you don't want to make Laura hysterical.

>>

I wasn't suggesting the 1794 S$1 is one of those coins with under-reported mintage, LOL! Simply stating that with higher rarity, it's easier to make quick profit.
Thus, if you have a reeded-edge that commands higher market prices, you might sell it more frequently, explaining why they are always available for sale. Just trying to explain why rare coins may appear on the marketplace more frequently then expected. In a down economy people are trying to turn profits.

For the record, I voted that Laura and TDN would not sell the 1794 S$1 (you can see my reply in the thread).

Whats everyones take on the 1836 reeded edge bust half -desirable or ?

Comments

Leave a Comment