Complete a Set of Braided Hair Half Cents for less than $400 per coin!
Analyst
Posts: 1,438 ✭✭✭
While researching for my series of articles on collecting classic U.S. coins for less than $500 each, I have found that is fairly easy to collect half cents and large cents with a $500 per coin maximum. Indeed, more than two series may be truly completed. These are popular and interesting coins, which are historically important.
Of course, given this price range, I am referring to business strikes. In the case of Braided Hair Half Cents, it is not hard to acquire PCGS graded coins in the AU range. Although some PCGS graded AU-58 to even MS-64 Braided Hair Half Cents could be acquired for less than $500 each, I recommended AU grade coins for such a project. Have members of this forum completed sets of Braided Hair Half Cents? If so, I hope that forum members post here about values in half cents and strategies for building a set.
Does anyone disagree with my points? Also, are interested forum members aware that a set of Draped Bust Half Cents may be completed for less than $500 each? These are exciting, early U.S. coins.
Classic U.S. Coins for Less Than $500 Each, Part 22: Braided Hair Half Cents
Draped Bust Half Cents
Classic U.S. Coins for Less Than $500 Each, Part 21: Matron Head Large Cents
"In order to understand the scarce coins that you own or see, you must learn about coins that you cannot afford." -Me
0
Comments
I look forward to reading these articles when I have the proper intellectual attention to devote to them.
siliconvalleycoins.com
mark
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......
The draped bust half cents are also obtainable, as Analyst notes. Of course, at that price point, the expected grades are lower.
It is also quite possible to assemble a very nice set of the classic head half cents for under $500 per coin. The stoppers are 1811 - where you will be limited to a problem-free G06 and 1810 - where you will top off around XF40. The rest of the dates can be found in nice AU grades within the per-coin budget. (Of course, I am assuming that you agree with NGC that all 1831 half cents were struck as proofs, as opposed to our host's opinion that some 1831's are business strikes. Either way, the 1831 date is unavailable within a $500 budget.)
Edited to add: Of course, we are discussing *date* sets here. Sets by variety are much more challenging.
While 1849 and 1857 are recognized as the "semi-key" dates, in practice it is easy to find both. Perhaps they were saved preferentially, due to being the first and last date of the design, or perhaps it is simply that they are known to command a slight premium, so dealers and collectors seek them out and have them certified.
It is considerably harder to find an 1850, as Analyst notes. It has about the same mintage as the 1849, but almost a third fewer graded examples. However, oddly, it is priced somewhat lower than the 1849. So when you find one, it is affordable. This seems like a paradox. The only explanation I can give is that the demand for this date is low, perhaps because type collectors like the 1849 date better.
1855 is an interesting date. Due to a hoard, it is very easy to find in mint state grades, including substantial populations in red/brown and red. This is definitely a date that a collector can be very picky about. You can get a lustrous, sharp, attractive example well within budget.
Finally, overall, the braided hair half cents as a series come very nice. Planchets are high quality, and strikes are strong. The medallion-like design, with broad, square rims, sharp denticles, and a deep dish combine to make a bold visual impression. They show the confidence of the mid-19th century United States.
mark
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......
Yes indeed! From the 7070:
WalkerGuy:
In the article on Matron Head cents, I made it clear that it might be necessary to purchase an 1823 that grades less than Fine-12. I cited Chris McCawley in this context. I mentioned a PCGS graded VG-10 1823 that was auctioned earlier this year for less than $260.
WalkerGuy:
I did not end the series at 1835. Matron Head cents really ended in 1835. IMO, the large cent type that dates from 1835 to 1839 should be called Gobrecht cents, not Matron Head cents. I am aware that several, widely accepted references regard the large cents of 1816 to 1835 as being of the same design type as those of 1835 to 1839. I honestly believe that such a perspective is clearly wrong. The so called 'Head of 1836' is a whole different design, by a different artisan, most likely Christian Gobrecht.
WalkerGuy:
Yes, agreed, these are excellent selections for budget-minded collectors of 19th century coins. Many collectors do not know just how much may be accomplished without spending as much as $500 on any one coin.
Mark:
Yes, very sure, please read the article. I quote relatively recent auction prices for almost all of the dates.
ProfLiz:
Thanks, ProfLiz, for reminding all of us. I wrote an article about those, too.
Classic U.S. Coins for less than $500 each, Part 20: Classic Head Half Cents
ProfLiz:
After the article was published, I received a private e-mail from a leader in the EAC club. He made very similar points. I do not know whether he wishes for his name to be mentioned in this forum. I will ask him. In any event, he did not put forth a reason as to why there are so many relatively original, mint state 1855 half cents extant. I would like to know about this "hoard" that ProfLiz noted.
Have any other forum members completed sets of Braided Hair half cents or of Classic Head half cents?
Yup, that is exactly what I am talking about when I say that the braided hair half cents come nice! Awesome strike and great fields on that one. Nice photo, too!
Analyst-
Regarding the hoard of 1855's, Breen (Encyclopedia of US Half Cents) says "There was a hoard of spotty mint red Uncirculated pieces found during the 1930's by Thomas L. Elder." Manley (Half Cent Die State Book) says "Uncirculated specimens with abundant mint red are plentiful as the result of a hoard of about five hundred specimens purchased in the 1940's by Charles French, a rare coin dealer from Troy, New York." They may be speaking of the same hoard. Either way, mint state 1855 half cents are plentiful beyond what the mintage of 56,400 would indicate.