bust half question

Bochiman · January 21, 2015 12:54PM

So,

I don't collect bust halves...just have a couple (type collection) but I kind of like the 1839-O.
Doing an occasional look around on them, and I find many that are problematic (cleaned/scratched/holed/etc) or a bit expensive.

Wondering what others believe is the "sweet point" if one were to get one for a type coin? What grade/price for a nice, natural, 1839-O should I be looking at?

For a reference point, I usually like to have all legends readable on our type coins. I prefer, on something like this, slabbed (PCGS/NGC...PCGS preferred).

TomB · January 21, 2015 1:44PM

In my experience a very large percentage of 1839-O RE half dollars have been cleaned or otherwise abused. The remainder of those that have decent surfaces are often found tightly held by their owners. These coins are the first collectible O-mint US half dollar, have the very cool obverse mintmark that appears to have been well before its time and have always been difficult to find with good eye appeal. I would suggest buying anything with good eye appeal and pristine surfaces from around VF20 through EF45 for your purposes. This will likely cost $1,300 through $2,800.

jayPem · January 21, 2015 1:58PM

It's like a hole in one Bochiman...your first reply is from the very member from whom a reply is most useful

Your best chance of landing a sweet 1839-o might be to PM Tom and ask to get on his email list...then get ready to move Really Quickly when the right one comes along !

BustHalfBrian · January 21, 2015 2:29PM

1839-O is one date of R.E. half I've noticed that sells strong w/ problems. This is not the case with all Bust halves. In fact, problem Overton varieties are almost impossible to sell right now (or so I've noticed first hand) unless it's some ultra-rarity R8 that appears only once every decade - I'm talking about the rare-but-not-too-rare R5-R6 varieties.

I will always recommend to anyone interested in building a Bust half set to focus on filling it with only problem-free coins, as I believe these coins will show the best appreciation over time. My personal collection is comprised of VF/XF coins and is 95% problem free (the remaining 5% are rare Overtons) and they have faired well value wise over the last 5 years, according to PCGS charts.

astrorat · January 21, 2015 9:57PM

The "sweet point" should be the grade that best matches the other coins in your set. If it's a lone 1839-O, then I think the best value is a VF-EF (then again, I am a sucker for coins that actually went out and did their job for a spell).

Tom is right on pricing. Problem-free, "original" coins are not impossible to find, just pricey. I think your best source will be to contact a specialist dealer, like David Kahn or Sheridan Downey as they have better access to these highly desirable coins than a generalist dealer, in my experience.

Don't focus too much on PCGS or NGC slabbed coins ... focus on the coin. As I have stated in previous posts, I believe PCGS is not as strict as they once were with this series and NGC is even less strict. If you talk with Bust half collectors about slabs, the general sentiment is that slabs are nice, but not the focus. However, when considering slabbed coins, PCGS is at the top by a far margin. NCG is, effectively, avoided.

Nap · January 21, 2015 10:43PM

As already mentioned, lots of problem examples out there, but there are also a good amount of nice examples. It's not particularly rare but is very popular. People who otherwise aren't into bust halves, or certainly the reeded edge bust halves, still like the 39-O.

I think the coin looks fairly handsome in VF. The reeded edge coins hold detail better in the lower grades than the lettered edge halves. It's quite rare in mint state.

AnkurJ · January 21, 2015 11:36PM

I would also contact David Kahn. He gets them in a few times a year from what I have seen.

bust half question

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