THE
GOBRECHT
JOURNAL
For Collectors of the
LIBERTY SEATED COIN SERIES
VOLUME FIFTEEN ISSUE #45
BETTER DATES #17
I have a lot of new and choice material for sale or trade. I especially need better date halves in G-VG. I hope to hear from you.
HALF DIMES
1849-0 F-VF, old porosity polished
over, gray toning $ 33
1856-0 XF-AU, flat strike, original .... 45
DIMES
1838-0 XF, choice original $300
1842- 0 VF 20
1843- 0 VF, nice strike & color 160
1849 XF, cleaned 27
1856 Small Date, VF, original 10
1856 Small Date, XF, sharp, orig. . . 26
1856 Small Date, AU, orig. toning . . 75 1856 Small Date, VF, doubled
die obv., old cleaning, nice . . 55 1856 Large Date, VF, choice,
even with polished die 17
1856-0 XF, nice original coin 50
1862 VF, deep original toning 11
1864-S F, old cleaning 25
1868-S Choice VF, cleaned 40
1872-S XF, lightly polished 125
TWENTY CENT PIECES
1875-CC XF, flat obv., sharp reverse . 1875-S XF-AU, sharp strike, dipped
QUARTERS
.$190 . 120
|
1838 |
F, toned, choice for grade . . |
$ 25 |
|
1839 |
VF, old cleaning |
40 |
|
1840-0 |
NO, XF, mintmark left, old |
|
|
cleaning, retoned |
95 |
|
|
1842 |
Large Date, XF, dipped |
240 |
|
1843 |
Ch. AU, dipped, hairlines . . |
. 125 |
|
1843-0 |
Lg. 0, VF, few small marks . |
. 250 |
|
1854-0 |
Arrows, VF, original |
25 |
|
1859-0 |
VF, old cleaning, flat strike . |
, 45 |
|
1865-S |
XF, old cleaning, nicely |
|
|
retoned, small nick at throat |
. 175 |
|
|
1873 |
NA, XF, Open 3, cleaned. |
|
|
obv. & reverse scratches |
47 |
|
|
1873-S |
F, flat spot in drapery |
40 |
|
1875-S |
f + , deep original toning . . |
. 55 |
|
1875-S |
XF, reverse of 1868-S, |
|
|
light cleaning |
145 |
All Coins Guaranteed, ANA Grading.
14 Day Return Privilege if in Original. Unopened Holder
Layaway and Approval Service Available.
QUARTERS continued
1876-CC VF, nice original 30
1878-S XF, deep original toning 325
HALF DOLLARS
1840- 0 AU, small 0, dipped $170
1841- 0 Choice AU, lightly cleaned ... 225
1842 Large Date, AU, lightly toned . 165
1842- 0 Large Date, VF, original 55
1843 Choice XF, cleaned, reverse
die breaks 70
1843 XF-AU, dipped, lustrous 80
1844-0 VF, last 4 repunched 37
1844-0 XF, nicely toned & struck .... 70
1845 G, nice original 22
1847- 0 Choice AU, nice orig. toning . . 225
1848- 0 AU, cleaned, some luster 80
1855 VF, nice original gray 42
1856- 0 56/56, Ch. VF, old cleaning ... 35
1857- 0 XF, old cleaning 75
1857- 0 XF-AU, dipped, lustrous 80
1858- S AU, large S, original gray 185
1860 XF-AU, cleaned, retoned 90
1861 Ch. XF, cleaned, luster 65
1861- 0 XF original 60
1862- S XF large S, nice original 65
1863- S VF-XR choice, original 38
1865 XF original, sharp strike 120
1866-S Motto, XF choice, cleaned ... 60
1867 XF old cleaning 165
1868 XF old cleaning 190
1868-S VF cleaned, retoning 30
1869 AU, light toning 140
1870 XF old cleaning 95
1870 Ch. XF original, sharp 125
1871- S XF-AU, dipped, lustrous 70
1872- S XF small s, original 190
1872- S Choice XF medium small s,
original 165
1873 Arrows, VG, quad-stripe shield 60
1873 Arrows, XF sm. arrows, cind. . 150
1873- S Arrows, VF-XF old cleaning . . 210
1875- CC Choice XF original, luster 135
1876- CC Choice XF light toning 115
1877- S ND, VF micro s, original 35
1891 G-t-, cleaned obv. hairlines . . 22
Please add $2.00 for postage.
Harry E. Smith • LSCC #566
P.O. Box 705 • South San Francisco, California 94083 Telephone: (415) 583-9908
OUR PLEDGE
To encourage, promote and dispense numismatic knowledge of Liberty Seated coins; to cultivate fraternal relations among its members and all those interested in the science of numismatics.
OFFICERS
John McCloskey President/Editor
Larry Briggs Vice-President
John Kroon Secretary-Treasurer
This is a non-profit organization dedicated to the attributions of the LIBERTY SEATED COIN SERIES.
Printed and Bound by
Additional copies available $3.50 each, from John McCloskey
No material in this publication may be reproduced without permission of the authors.
1
GOBRECHT JOURNAL
Official Publication of the LIBERTY SEATED COLLECTORS CLUB
VOLUME 15 JULY, 1989 NO. 45
CONTENTS
THE CIRCULATION LIFE OF LIBERTY SEATED COINAGE: PART I
By Lawrence N. Rogak 3
HALF DOLLAR DIE VARIETY SOFTWARE DEVELOPED 9
THE 1840-O WITH DRAPERY HALF DIMES
By William A. Harmon 11
AN 1873-S STANDARD DOLLAR WAS SENT FOR ASSAY
By Harry X Boosel 16
THE 1851 SEATED DOLLAR
By David H. Cohen 19
A RE-EXAMINATION OF THE 1839-0 HALF DIME WITH A ROTATED REVERSE
By A! BIythe 26
LSCC MEMBERS MEET AT SUMMER LONG BEACH CONVENTION 27
A NEW VARIETY OF THE 1875-S HALF DOLLAR DISCOVERED
By Larry Briggs 29
AN 1858-0 HALF DOLLAR WITH A QUADRUPLE 8 IN THE DATE
By Kenneth R. Hill 31
THE LAST SAN FRANCISCO HALF DIME
By Bill Fivaz
AN 1856 SMALL DATE DIME FROM A DOUBLED DIE OBVERSE
By Brian Greer '^^
LSCC ANNUAL MEETING 38
THE 1865-S DIME
By John W McCloskey 39
GEM BU 1870-CC DOLLAR SOLD 42
COLLECTIVE VOLUMES AVAILABLE 43
LETTERS TO THE EDITOR 44
2
The Circulation Life of Liberty Seated Coinage: Part I
by
Lawrence N. Rogak
In two prior Journa/ essays, I speculated on whether Liberty Seated dollars ever circulated. My postulate that they did not circulate was based partly on a story from a knowledgeable source and partly from the knowledge that during most of the period from 1853 to 1873, the silver in a Seated dollar was worth more than $1.00.
Now, there is documented information not only confirming that Seated dollars really did not circulate, but also information concerning the whereabouts of the half dollar, quarter, dime and half dime during the period of their mintage. I believe the facts will change the entire way collectors perceive these coins and their respective rarities. To fully understand the state of U.S. coinage at the commencement of the Liberty Seated series, a few facts about the state of the coinage from 1792 to 1834 are essential.
The operation of the U.S. Mint in those early years was inefficient and largely inef- fective. The Mint's equipment for rolling, cutting, and impressing coins was powered by horses and was very crude. By law, the Mint could only turn out coins when bullion was provided by depositors; the Mint had no authority to purchase bullion on its own account so as to turn out a steady supply of coins. Depositors had to wait three or four months for their bullion to be returned as coins. The practice of making coins only from deposited bullion also increased costs, as the economies of scale were unavailable, and deprived the Mint of revenue from seigniorage.
Gold did not circulate generally in those early days, as the U.S. had an official gold/silver ratio of 15 to 1, undervaluing gold in a world market where the ratio was 15.75 to 1. After 1825, when a dollar in gold was worth $1.02 in the U.S., gold ceased to circulate entirely.
The silver dollars of 1794 - 1803 were exported as fast as they could be coined, primarily to the West Indies, where they were accepted at par with the Spanish dollar. But the Spanish dollar weighed a few grains more, so U.S. silver dollars were exchanged for Spanish dollars, which were then used to buy U.S. dollars in the U.S. at a profit, which were in turn exchanged for more Spanish dollars. This "endless chain" was stopped in 1806 by Jefferson when he ordered the Mint to stop produc- ing silver dollars. The silver dollar was unknown in the U.S., from 1806 to 1836, though it had a very limited circulation before the earlier date.
With no gold or silver dollars in circulation, the half dollar was the largest coin available for transactions. But even these had a limited circulation. They went from the mint to the Bank of the United States, which distributed them to other banks and to brokers who exported them. A Senate report of 1830 stated that U.S. silver coins were regarded as so much bullion and were "lost to the community as coins."
As for quarters, dimes, and half dimes, their output was irregular and negligible. From 1792 to 1834, there were 19 years in which no quarters were minted, 13 years of no dimes, and 26 years of no half dimes. The total mintage of all three denomina- tions before 1830 was less than one piece for each person in the country.
3
The cent and half cent, incidentally, saw little and no circulation, respectively. In those days, very few items of that price level were sold. Moreover, in many years the value of the copper in these coins exceeded their face value, and industrial con- cerns would buy Mint kegs of cents and half cents and melt them for manufacturing uses. Copper was a scarce metal then, with all supplies imported from England.
So United States coins had no circulation to speak of before 1834. The currency consisted of a variegated lot of Spanish, English, French, and Dutch pieces. Retail prices were quoted in reals, shillings, medios. The lack of circulating decimal coinage slowed the shift to dollar-and-cents pricing.
The solution to the problem was obvious: the silver value of U.S. coins had to be reduced below face value in order to keep the coins in circulation. But Congress rejected this option many times, the concensus being that such a practice was dis- honest; it was "debasing" the currency.
The state of the coinage remained wretched until 1834. The main provision of the Coinage Act of 1834 was to change the legal ratio of gold and silver from 15:1 to 16.002:1. The effect was to give gold a higher value with regard to silver than actually existed in commerce. Pre-1834 gold coins were now worth $1.05, and hoards of them were presented to the Mint for melting and recoinage. The output of gold mines in Georgia, North Carolina and Virginia, which had formerly gone abroad, was now brought to the Mint.
The coinage law of 1837 finally authorized a bullion fund, from which the Mint could provide a continuous stream of coins, without relying on bullion depositors. But by increasing the value of gold, the gold dollar was worth more than a silver dollar. Gresham's law that bad money drives good money out of circulation held true and silver coins were in danger of disappearing. The situation was made worse by the fact that foreign debtors stopped paying in silver, and the U.S. had no silver mines.
But the Mint coined more silver pieces from 1834 to 1839 than in all the years from 1792 to 1833. These coins stayed in circulation from 1834 to 1850 because the disparity between gold and silver was small: a silver dollar was worth $1.01 in gold. From 1834 to 1844, the policy of bimetallism was fairly successful, and gold and silver coins circulated side by side.
Now we come to the early days of Liberty Seated coinage. Bimetallism began to crumble in 1849 when an unprecedented flow of gold from California began to affect the world bullion markets. By 1850, the effect of all this gold was violent. Early in 1851, the market ratio fell to 15.45:1. The silver in two half dollars was worth $1,035 in gold, and the profit on exportation became significant. The appearance of the gold $1 piece in 1849 helped the small change situation, but hastened the disappearance of silver In 1851 silver coins rapidly disappeared.
To help provide small change. Congress authorized a 3 cent piece of .75 silver and .25 copper on March 3, 1851. It was legal tender for payments up to 30 cents. It is important as this was the first U.S. coin to be subsidiary, having a metal value far below its face value; it was worth about 86% of face.
In 1850 and 1851, the amount of silver coinage exported was worth $25,000,000, more than the value of the Mint's silver coin output for the previous 20 years. Although the Mint continued to produce coins in 1851, its output was equivalent to that of 1804, and none of the coinage went into circulation. It was kept in Treasury vaults.
4
With the disappearance of silver coins, the only U.S. coins to see regular circula- tion were the gold dollar and the silver 3 cent piece. By 1853, there were 26,000,000 of the 3 cent pieces in circulation, along with millions of gold dollars. Occasionally, some badly worn dimes and half dimes which had lost too much weight to be melted profitably would be seen in commerce.
Retail trade became chaotic. Businesses requiring small change had to make do with 3 cent pieces, and an assortment of Spanish reals and medios worn almost beyond recognition. A customer paying for an item with a gold dollar would receive a handful of 3 cent pieces, along with badly worn Spanish coins, as change.
Solutions were elusive. There was a basic desire to retain bimetallism. Those who desired a single silver standard were overwhelmed by the tide of gold from Califor- nia, too much money to be ignored. But altering the gold/silver ratio would not help because the flow of gold was ever increasing, and there was no telling where it would end. A new ratio could be obsolete in a month.
The most effective solution would have been to reduce the value of the silver in the coinage, making it "subsidiary," worth more as money than as bullion. But Con- gress was unsophisticated in matters of economics, and the concept of a "debased" coinage was anathema. Also, many people were opposed to the gold standard, which is what the country would have if the value of gold was used as the basis for the value of a subsidiary silver coinage. Gold was considered an unstable medium, and most people were not familiar with it.
This reduction of the silver value of the fractional coins was accomplished by the law signed on 21 February 1853. The double standard bimetallism was retained, with the ratio of 15.988 to 1. As a token of the retention of bimetallism the silver content of the silver dollar was left unchanged. This was done to express the intent of Con- gress that the country had not gone on the gold standard. The Director of the fvlint had specifically requested that Congress leave the dollar at standard weight to preserve bimetallism. This explains, finally, why the silver dollar retained its silver value in 1853 and did not become an "arrows" issue like the fractional coins.
The law of 1853 reduced the fractional silver coins to 384 grains per dollar gross, 345.6 grains per dollar fine. It was provided that the mint should buy silver bullion and mint the coins, selling them in lots of $100 for gold coin only. The legal tender of the fractional pieces was limited to $5.00. One provision of the law directed the Secretary of the Treasury to regulate the number of quarters, dimes, and half dimes minted. This would seem to allow unlimited coinage of half dollars.
The law of 1853 was a success in that within 6 months of its passage, $9 million worth of new silver coins went into circulation and stayed there. In 1854, $8 million more was coined. By early 1854 the coin shortage was over The number of gold dollars minted dropped rapidly; the same was true of 3 cent silver coins. For the first time since Independence, the country had an adequate supply of small change.
But the margin of safety was small. Prior to the 1853 act, two half dollars were worth $1.04 in silver. The 1853 "arrows" issues were worth 97 cents per dollar, allow- ing just 3 cents as a margin of safety against disappearance.
In November 1856, an ounce of silver sold for $1 .24 in gold. A rise of 1 cent would have made four quarters the equivalent of $1 in gold in terms of their silver value. During 1859, the silver in $1 face value of fractional coins was worth from 99 to 99.5 cents.
5
The Senate committee's report of 1853 repeatedly stressed that a coin whose bullion value was less than face value was a debased coin of doubtful honesty. They feared that the coins would be issued in excessive amounts and depreciate; they did not realize that the provision whereby the coins could only be sold for gold would prevent depreciation. But the law did not provide that the coins could be redeemed by the public in any quantity; they were legal tender only to $5.00. Though it seems incredible to us today, the fact was that until 1873, no one, including the government, was obligated to accept more than $5.00 in change. A bag containing $500 face value in new quarters could not be spent or exchanged at face value, but rather only at bullion value, which was less. The coins could not even be used in payment of taxes.
By August 1854, the country was so flooded with silver coins that they became a nuisance. Notably absent was the silver dollar, to which I shall return later Retail stores refused the coins except in small payments. Banks refused deposits in silver coins. Creditors refused the fractional coins except in the $5.00 amount required by law.
In his 1855 annual report, mint director Snowden noted the oversupply of silver and asked Congress to raise the legal tender provision to $50 or $100. The measure would have been passed in 1858 except that Snowden's superior. Secretary Conwin, asked that the measure be killed. Actually, if the measure had been passed the situa- tion would have gotten worse, as the coins would be reguired in even greater amounts.
The excess of silver coins prevailed from 1854 until the Civil War In January 1862 the A/ew York Herald reported that the amount of silver in circulation was far in excess of the amount required for commerce. A financial panic in 1857 had reduced the level of trade, making the excess of silver coins all the greater
f^eanwhile, the one dollar gold pieces were piling up in the Treasury, driven from circulation by the less valuable silver coins. When the diameter of the $1 gold piece was changed in 1854, Mint director Snowden melted eight million Type 1 pieces and coined them into Type 2 coins. This is new information, not generally known in the hobby.
One of the effects of the flood of U.S. silver coins was that foreign silver was driven out of circulation in populated areas. In 1857, mint director Snowden estimated the total silver coin in the country at $25 million: $20 million in the new subsidiary frac- tional coins, $3 million in Spanish and Mexican fractional coins, and $2 million in pre-1853 silver coins which stayed in circulation because they were too worn to be melted profitably.
By the new coinage law signed on 21 February 1857 foreign coins were denied legal tender status, driving them out completely. The half cent, which hardly circu- lated, was abolished. The cent was reduced in size and changed to a copper-nickel composition, and holders of Spanish silver could redeem them for the nickel cents for two years only. In 1859 Snowden reported that the Spanish coins circulated only in remote districts.
As for the Liberty Seated dollar, it stood alone as the standard bearer of the of- ficial gold/silver ratio. But from its reintroduction in 1836 through its discontinuance in 1873, the coin was unknown in circulation. Legally it was a standard coin, but it was worth between $1.02 to $1.05 in gold. The small number that were coined annu-
6
ally were exported at once to South America, with a few going to the Orient. The Annual Report on the Finances for 1860 indicated that they were all coined fronn bullion brought from Mexico. From 1857 to 1863, mint directors Snowden and Pollock repeatedly urged Congress to either drop the coin from the statutes or reduce its weight and make it a subsidiary coin.
When the San Francisco Mint was set up in 1854, it was not equipped to coin silver dollars. In 1859, local merchants brought bullion to the Mint seeking to have it coined into silver dollars for export. The director of the San Francisco Mint applied to director Snowden for dies. Snowden refused, but San Francisco insisted, and prevailed. The 20,000 silver dollars minted in San Francisco in 1859, therefore, were immediately shipped abroad and none were released for circulation in the United States. They couldn't have circulated here anyway: their bullion value of $1.05 and the commencement of the Civil War the next year militated against circulation.
In his report of 1861, Mint Director Pollock reported that it was his practice to sell silver dollars in small lots at $1.08 each! This meant that the Mint was making silver dollars available to those members of the public willing to pay four cents above the bullion value for each coin. It also supports a conclusion that the only Liberty Seated dollars to survive in Mint state, aside from Proofs, were those purchased by poeple willing to pay an 8% premium over face; undoubtedly these were numismatists or persons similarly inclined. The balance of the business strikes left the country imme- diately, mostly as bullion.
Many Liberty Seated dollars went to the West Indies and other Caribbean nations, where many were counterstamped with a symbol of the French crown to indicate their status as legal tender of those islands. These officially counterstamped coins are extremely rare today, but I have seen photographs of some.
The Civil War began in 1861. The subsidiary fractional silver coins of 1853 onward were still in circulation, for the most part. None had been melted, and they were too new to be worn out. But a curious situation resulted in the exportation of a significant number of them. Canada had adopted the decimal system and the dollar unit in 1858. The British government provided far too few coins, so United States silver was exported in large quantities to fill the gap. In addition, U.S. subsidiary silver was the common currency in Latin America and the Caribbean. One estimate put the value of this exported coinage at $3,000,000. This was out of a total of $48,000,000 in silver minted since 1853, amounting to 6.25% of the total output.
By the end of 1861, the government's efforts to finance the war by loans had failed, and at the beginning of 1862 gold payments were suspended, except on the West Coast. Silver and copper remained in circulation. Paper money, mostly Treasury demand notes, filled the gap. The paper circulated at a discount to gold.
During 1862, the gold/silver ratio was 15.35 to 1. A dollar in subsidiary coins was worth 97 cents in gold. When the value of a paper dollar fell below 97 cents, a dollar in silver coins would be worth as currency less than 97 cents in gold, and holders of silver coins could exchange two half dollars for 97 cents in gold, and sell the gold for more than a dollar in paper
On January 10th, 1862, $100 in demand notes were worth $95.24 in gold. On that day the New York Herald reported that brokers were paying a ^% premium in paper for subsidiary silver coins. The depreciation of paper money did not cause a disap- pearance of silver coins, but it was sufficient to cause hoarding, as well as greater
7
exportation to Canada. Canada was on the gold standard, and U.S. silver was ac- cepted on par with gold. U.S. silver poured into Canada, was exchanged for gold, and the gold brought back into the U.S. where it bought paper money at the premium rate. Bankers took a large part in this transfer Silver coins became scarce in the U.S.
The first issues of government greenbacks appeared in April 1862, and by June $100,000,000 were in circulation. This great volume of money forced a depreciation in paper By June 30 a paper dollar bought 92 cents in gold. By the first week in July $25 million in silver coins vanished from circulation. Soon even the 3 cent silver coins disappeared; they became worth their face value as bullion when the paper dollar depreciated to 86 cents in gold.
By July 9 brokers were paying $108 for $100 in silver coins. On that day the silver in $100 face of coins was worth $97 in gold, which could buy $108 in greenbacks. The scarcity of silver was acute, and was the number one topic of conversation, dominating newspaper columns. Only the new nickel cent stayed in circulation, and this in a booming war economy. There was no money between the denominations of 1 cent and 5 dollars, as greenbacks were not made in denominations under $5.
Within a few days the situation became so intolerable that alternatives were pressed into service. First came the postage stamp. Then Spanish silver, driven from circulation in 1857, reappeared almost overnight, but even the worn pieces which came back soon became worth more as bullion than money. Many cities issued their own fractional notes, among these Albany, Newark, and Jersey City. The marketplace became flooded with private notes and "shinplasters" issued by stores, hotels, and other businesses. Frequently, the last holder of these notes found them unredeemable. Although these private paper issues were illegal under Federal law, prosecutors were stymied in their attempts to gain convictions. Of an estimated $15,000,000 in shinplasters, fewer than half were redeemed by their issuers.
U.S. Treasurer FE. Spinner made the suggestion to legalize postage stamps as currency, and stamps served as a miserable substitute for coins. The issuance, cir- culation and redemption of postage stamps and postage currency is a story in itself, as is the story of the disappearance of the copper cents.
Sound economic practice would have dictated that the Treasury stop the mintage of silver coins as soon as their bullion value exceeded their face value. By October 1862, silver had been out of circulation for several months except on the West Coast, where silver continued its normal course of circulation. Yet the Mint continued to coin millions of fractional pieces which vanished as soon as they left the Mint. Amazingly, the Mint was not losing money on the silver coins it made because it was charging depositors a fee for coining their bullion into coins, in contravention of the 1853 law which provided for the free coinage of silver
It is surmised that Director Pollock knew what was happening to the silver coins as soon as they left the Mint. They were sold by the bullion owners to brokers or to business houses. From there they went to various foreign countries, mostly Canada until 1862, when that country became saturated with U.S. silver From then on Latin America was the biggest user A Detroit newspaper of 1862 said that the City Treasurer of Toronto had half a ton of U.S. silver coins that he could not dispose of.
In Latin America, their half peso and two real pieces were similar to our half dollars and quarters in weight and gold value. In 1854, it was reported that U.S. silver was accepted at a 12V2% premium in the West Indies over local coinage. There was a profit in taking bullion to the Mint, having it coined into silver pieces, and shipping them to Latin America or the Caribbean. There the coins were exchanged for gold or foreign silver coins containing more metal.
8
One of the widely held theories in our hobby is that Civil War era silver coins were in large part melted when they were withdrawn from circulation. The documented evidence shows otherwise. The great majority of them went to Canada and Latin America. Most of the coins which disappeared at the commencement of the Civil War reappeared to flood the country and disrupt the economy fifteen years later
When Linderman succeeded Pollock in 1867, he continued the practice of coin- ing silver The Philadelphia Mint had for the past five years produced a reduced number of silver coins compared to San Francisco, but all of Philadelphia's output was exported, whereas a large part of San Francisco's coinage stayed in circulation. Still, much of San Francisco's output was exported to Central America.
West Coast silver stayed in circulation because it was accepted as legal tender on a par with gold, and because paper money did not circulate. Those states had their own gold and silver supply, a branch Mint, and were physically isolated by the Rocky Mountains. Thus, incredibly, while not a single silver coin could be found in circulation east of the Rockies from 1862 to 1873, during the same time period Califor- nia was awash in silver coins to such a great extent that they sold at a discount to gold.
Though the various Mint directors each implored Congress to restore silver to cir- culation by reducing the silver content of the fractional coins, these requests went unheeded. It was probably just as well, for the chaotic condition of the precious metals market would have made any new coins a risky proposition. At one point, a 25% reduc- tion in silver content was proposed. Had it gone into effect, the new coins would have been subject to profitable melting In just three months due to depreciation of the greenback.
In Part II of this story, which will appear in the next issue of the Journal, you will read of the background of the Coinage Act of 1873, the return of silver to circulation, the repatriation of the silver coins which had been exported, and the story behind the negligible mintages of halves and quarters in the 1880s.
HALF DOLLAR DIE VARIETY SOFTWARE DEVELOPED
James E. Wilbur, LSCC #333, has created a computer data disc containing reference information and descriptions of the major varieties of Liberty Seated half dollars. This information contains descriptions and cross references the numbers used by Walter Breen in his Encyclopedia of U.S. and Colonial Coins with those used by Beistle in his book on Half Dollar Varieties and Sub-Varieties. This software was created on IBM compatible software, Deskmate 3, on a standard 5.25 inch diameter floppy diskette. If there is sufficient interest Mr Wilbur will make this data disc available to LSCC members. He would like to hear from any members who would be interested in this data disc. A SASE would be appreciated. There would be a cost involved in this project. Address any inquiries to: James E. Wilbur, 22 McHarrie Street Baldwinsville, New York 13027.
9
W. E. SETON • LSCC #754
4770 S. Discovery Road Port Townsend, WA 98368
Telephone: (206) 385-3636 or 385-2159
SEATED DOLLARS
1841 AU $425
1843 XF-45 350
1845 AU 650
1846 AU 425
1846-0 VF/XF Scarce 325
1847 AU 425
1847 AU Small Punch Mark at Date 200
1849 AU Scarce 575
1859-0 MS-60 Cleaned, Now Retoning 575
1860 CH-AU Scarce 950
1862 AU Very Scarce 925
1863 AU 675
1866 CH-AU 700
1869 AU 525
1870 CH-AU 575
1871 AU 450
1872-S XF Very Scarce 775
1. 15 day return privilege.
2. Coins removed from holders are considered sold.
3. Postal money orders or bank checks are preferred. Personal checks must clear.
4. Grading by ANA standards.
10
The 1840-O With Drapery Half Dimes
by
William A. Harmon
About thirty years ago, I had an opportunity to purchase a mixed lot of about 30 Bust and Liberty Seated half dimes. These coins had been saved in a little cloth bag which originally contained fine cut tobacco. This was the kind of bag used many years ago by individuals who "rolled their own." Included in this lot were three 1840-O half dimes with drapery in EF condition. I always wished that I knew the history of these coins that were put away many years ago and something of the person who must have had an idea of their rarity About ten years ago, I acquired a copy of the 1975 reprint of Valentine's book on half dime varieties and compared my coins with his description of the V-5 variety for this date. I found that none of these three coins matched Valentine's description of the V-5 variety the only variety that he lists hav- ing the new with drapery obverse.
To my knowledge, there has never been a detailed analysis of the 1840-O WD half dime, perhaps for lack of a sufficient number of examples to study in any one place. The LSCC half dime census published in Issue #41 of the Journal listed 62 pieces of the 1840-O WD type, including one in MS-60 condition, one in AU, and nine others in EF condition. This count does not include any of my own coins. With the help of published illustrations of the 1840-O WD half dime, I feel that I can now pre- sent an orderly study of the examples of this date. Let us start with the original Valen- tine description of the 1840-O WD variety:
"5. Obv. New die with drapery. Compact date. Lowest left star not low nor close. Rev. New die with large lettering. Small O, well placed. A die break shows from right hand stem to edge." Please mark that last sentence. Now, from Breen's supplement to the Valentine reprint: "1840-O. Large, medium, and small mintmark without drapery; small only, with drapery (V-5), last quite rare. The single pair of dies with drapery were shipped Dec. 2, 1840." These descriptions appear quite conclusive, one variety and one set of dies. Yet there are two reverse dies! The reverse of the V-5 illustrated in Walter Breen's Complete Encyclopedia #3023 does not meet Valentine's description and is the same reverse as that on the three examples that I acquired many years ago. We have grown so accustomed to believing that there is a single 1840-O WD variety that we have not seen the differences. During the past ten years I have acquired an example of the V-5 variety as described by Valentine and two others with the new reverse illustrated by Breen as #3023, all in EF or better condition.
It is my belief that the new "large letters" reverse with the open buds first appeared on the Transitional variety of the 1840-O half dime. The Transitional variety has an obverse die of the old type without drapery and a reverse of the new large letters type. There is an excellent illustration of this variety in Breen's Complete Encyclopedia #3021. This reverse has the die crack from the right stem to the edge as described by Valentine for his V-5 variety. Breen's coin also has a lighter die crack from the same stem across to the right ribbon end and again to the edge, as does my V-5 coin. His illustration is much the best example of this reverse die that I have seen, and it does not have the additional die cracks and clashes which appear later John McCloskey presents an illustration of this Transitional variety in Issue #6 of the Journal, a picture that later appears on page 83 of The Collective Volume Number One of the Journal.
11
This coin is essentially the same as illustrated by Breen except for condition but it appears to be a somewhat later strike with short die cracks from some of the letters in AMERICA to the edge. Kam Ahwasfi is credited with the discovery of this variety in his "Observations" supplement to the Valentine reprint. John McCloskey described and illustrated it in the Journal. For further reference I will call the Transitional variety the V-6 variety of this year.
If the 1840-O WD reverse was first used on the Transitional variety, there might be an example of this variety without the die crack from the right stem. The LSCC half dime census listed nine examples of the 1840-O ND open bud variety. Perhaps the owners of these coins could add some additional information on the die stages of the V-6 variety.
The second use of the new large letters reverse in New Orleans was apparently with the new obverse die with drapery. This would be the Valentine V-5 variety as he described it, with the die crack from the right stem. My own example of this variety shows die clashing as well as several additional die cracks. These cracks run to the edge, from the U in UNITED, from the left stem, from the left ribbon end and from most of the letters in AMERICA. This is a late state of this die which may have crumbled along the lower edge somewhat later
1840-O V-5 Half Dime with Die Cracks from Ribbon Ends
12
The next variety in this sequence has the V-5 obverse combined with a different large letters reverse. Since the 1840-O WD dies were not shipped from Philadelphia until December 2, 1840, it is likely that all or part of the total mintage for this variety was struck in 1841. It is reasonable to believe that the new reverse die used with the 1840-O WD obverse was prepared for use in 1841 . The die cracks on the new reverse are completely different from those seen on the V-5 variety and are clearly illustrated in Breen's picture #3023 where this reverse is mistakenly referred to as the reverse of the V-5 variety. The die cracks run from the edge through the left edge of the U in UNITED to the leaf and from the edge through the I in AMERICA to a bud. For future reference this variety will be called V-7. This reverse may exist without the reported die cracks. Owners of this variety might be able to provide additional infor- mation on the die stages of this variety.
Breen lists an obverse die crack in his description of variety #3023. I have never seen this die crack on the obverse of a V-5 coin. My examples of the V-7 variety include three with no trace of an obverse die crack, one with a crack to the left of the date reaching the point of the shield and a final example with the crack extending through the figure of Miss Liberty and running out near the hand and staff. This obverse die crack is illustrated on page 24 of Issue #36 of the Journal by Bill Fivaz where it is mistakenly listed for the V-5 variety. Breen's illustration appears to be that of a choice AU example of this variety. Until 1987, 1 had never heard of either the V-5 or V-7 varieties in mint state and assumed none existed. However, in their January 1987 sale. Stack's described an MS-63 coin with the die crack crossing the obverse as in the final state of the V-7 variety. Also the LSCC half dime census included an example of the 1840-O WD in MS-60 condition. If this is a true V-5 variety, then it is probably the best known example of this variety. Of possible interest to some collectors is the fact that one of my V-7 coins without the die crack on the obverse was broad struck, resulting in a very irregular edge due to a broken collar. I cannot recall seeing a similar coin in the entire Seated half dime series.
1840-O V-7 Half Dime with Die Crack through I in AMERICA
13
Since all of the 1840-O WD half dimes have been lumped together as one variety and considered rare, it follows that each of the two varieties must be rarer still. Which variety is the more difficult to find? Obviously, Valentine knew only of the V-5. On the other hand, over a period of several years I have found two examples of the V-7 var- iety in EF or better condition and only one example of the V-5 variety. Only time will resolve the question of relative rarity of the two varieties but my feeling is that the V-5 variety will prove to be the rarer coin. This situation has possibly led to the erro- neous acceptance of the V-7 variety as the V-5 variety described by Valentine.
If anyone can add any further information to that presented on the V-5, V-6, and V-7 varieties of the 1840-O half dimes I would be anxious to hear from them. I am primarily interested in opinions on the analysis that I have presented and for further details on the die states of these varieties. A partial census of existing examples of these varieties by the designated Valentine numbers would be very helpful in deter- mining relative rarity of the varieties. Please send any information on the subject to: William A. Harmon, P.O. Box 546, Athens, Ohio 45701.
14
NEW PURCHASES
HALF DIMES
1853 Arrows, AU-50 $110
1856 AU-55, toned 90
1862 EF-40 35
1869 PCGSProof-63 775
DIMES
1839 AU, slight rim bend $60
1854 Arrows, PCGS-63 800
1868 PCGS Proof-62 510
1869-S PCGS-63 950
1870 Proof-60 200
1885 AU-50, wire rim 55
1887 AU-58, original toning 100
TWENTY CENT PIECES
1875-S VF/EF $115
1875-S ANACS-50/50, struck
from proof dies 500
QUARTERS
1853 A&R, VG-8 $11
1853-0 F-12 30
1853-0 VF-20 55
QUARTERS contined
1854-0 F-12 $20
1858 VF-20 25
1860 PCGSProof-63 1100
1874-S EF-40 175
1876-CC VF, fine reeding 70
1876- S EF-45-l--h 80
1878-CC EF-45-f-f- 140
1878-CC PCGS-64 3000
HALVES
1858-0 VF/EF $50
1858- 0 PCGS-63 1150
1869-S AU-58 275
1874 Arrows, VF-20 70
1876 EF-40 75
1877- S EF-40 75
DOLLARS
1841 CfioiceVF $225
1859- 0 EF-45, nice 275
1859-0 PCGS-60 1125
TRADE DOLLARS
1874-S PCGS-60 $690
We have tried to find strictly problem-free coins to save you unpleasant surprises when you order. You must be 100% pleased.
TERMS: 1. Minnesota residents add 6% sales tax.
2. Please help with postage on small orders.
3. Two weeks return privilege with no questions asked.
4. We accept VISA and MasterCard on orders over $100. Please send all raised information on card.
Carson City Collectors Connection
P.O. Box 413 • Anoka, Minnesota 55303
Telephone (612) 421-4555
15
An 1873-S Standard Dollar was Sent for Assay
by
Harry X Boosel
I enjoyed the article on the 1873-S Standard dollar by Lawrence Rogak in Issue #44 of the Journal but must take issue with a few of the statements made, even though they may be conjecture. About the middle of the page he states ". . .probably none were saved for assay." Below is a copy of a letter from the Superintendent of the Branch M\r\{ at San Francisco dated March 5, 1873. Also shown is a copy of the receipt from Wells, Fargo & Co. which accompanied the letter Both of these documents were found in the Archives. They prove that one each of the 1873-S no arrows halves and the 1873-S standard silver dollar were sent from San Francisco to Philadelphia by Wells Fargo on March 3, 1873. This information first appeared in an article I wrote in 1957 and is reprinted from my book about United States coins dated 1873 that was published in 1960.
I was on the trail of the 1873-S Standard dollar with the hole in it a number of years ago and came close. In trying to buy it, one dealer offered to furnish the owner a Trade dollar with a hole in it. That is where the story started about it being a Trade dollar.
I am the one who stated in my article in 1957 that I recalled seeing an 1873-S Stand- ard dollar offered in a dealer's price list about 1937 or 1938. The dealer was A.J. Fink of Dayton, Ohio who had access to Jim Kelly's stock. Fink had a very poor reputation and either did not join or was dismissed from the ANA.
I still have my file about tracing the 1873-S Standard dollar and one of these days I will write it up. The original article on the supposed find was in a collector's weekly of October 26, 1971 and later a small article appeared in Coin V\torld.
SAN FRANCISCO 1873
Some of the coins minted in 1873 are famous for not being here. High on this list are the Standard Silver Dollar and half-dollar without arrows of the San Francisco Mint.
That these two denominations were actually minted can be pi-oven be- yond any reasonable doubt. Among the documents I found in the Archives was this one from the Superintendent of the Branch Mint at San Fran- cisco dated March 5, 1873.
"Sir.
"Herewith please find Wells Fargo & Co. receipt for one Sealed Box containing Assay Coins for the month of February 1873. viz.
14 Packages Double Eagles $400.00
1 Package of S. Dollars 1-00
1 Package S. Half Dollars 50
1 Package S. Half Dimes 1-65
$403.15 Very Respectfully (s) 0. H. LaGrange
Superintendent"
This letter was found among the letters received by the then Director of the Mint in Philadelphia prior to the effective date of the Act (April 1, 1873) which established the Director of the Mint in Washington. Accom- panying the letter was a receipt of the Wells, Fargo & Co., which is illustrated herewith.
16
i I
WELLS, FARGO & GO'S EXPRESS.
Received of...
Value / Received of.
'acka,$e.
Addressed.
which we agree to forward to ' ./..LJ..'^..'^^^. by usual conveyance,
subject to the following conditions :.
In no event to be liable beyond our Route as herein receipted ; not to be reponsible except as and in the capacity of forwarders, we not owning or being interested in the means or vehicles of transportation. Nor liable for any loss or damage arising from the dani^crs of railroad, ocean or river navigation, explosion, fire, etc., unless specially insured by us, and so specified herLui. N'or for the negligence or misconduct of the owners of said means or vehicles of transportation, or of their agents or others in charge thereof And not to be liable in any case for an amount exceeding fifty dollars, unless otherwise specified herein.
/ For the Compani/, ) ^
Charges, S .t.^.. ^ < "</
f/ B^9nJS^ Co., Prinitrt. S F.
—41—
LIBERTY SEATED DIMES
Will pay top dollar for eye appealing specimens of the following dates: Wanted in Uncirculated Condition 1842-0, 1843-0, 1844, 1846, 1859-S, 1865-8, 1868-S
Wanted in AU or Uncirculated 1872-00, 1873-00 W/A
ANA LM 275
Jerry Cohen Corporation
9465 Wilshire Blvd. • Suite 519 Beverly Hills, Oalifornia 90212
LSOO #801 Telephone (213) 271-4281
17
QUALITY SEATED COINS FROM MARK HOTZ
This ad is full of new purchases. Please look it over and give me a try. When in the Maryland area please stop by my store, Westminster Coins & Currency, in Westminster, Maryland. I'll have a table at the ANA Convention in Pittsburgh. Please try to stop by if you are attending thei convention.
HALF DIMES
1837 No Stars, Choice AU-55 $300
1839 1839/1839, XF-AU 75
1844 1844/1844, EF 45
1845 1845/1845, Choice AU 100
1849/8 Original, toned EF-40 65
DIMES
1841 VF-35, original $25
1845 EF-40. original 29
1849-0 Large 0, Fine 29
1849-0 Small o, Recut Date, EF-45 ... 175
1856-0 1856/1856, VG -t- , original ... 30
1861-S AG/G, full date, just wear .... 16
1865-S VF 49
1877-CC lype I rev, original VF 42
1877-CC Type II rev, toned XF/AU 46
1884-S VF, some marks 21
1889- S VG-F, full LIBERTY 18
1890- S VF/EF original 40
1890-S S/s, toned AU, a few rim dings 100
TWENTY CENT PIECES
1875-S EF, original $120
1875-S AU-50, gold toning 300
1876 PCGS AU-58, PL 775
QUARTERS
1840-0 NO, 1840/0, cleaned, VF $60
1843 AU-50, quite sharp 110
1845 VF-35, original 50
1853 A&R, VF-35, original 45
1853-0 Fine, original 23
1856-S EF-40 170
1857 EF-45, original 50
1859 EF-45, original, rev. clip 49
1859-0 Fine, original 35
1860 AU-55 -t-, original toning 200
1872 EF-40 -H, original 140
1874-S VG-F, original 30
1890 EF-40 -I- , original 160
HALF DOLLARS
1840 Reverse of 1838, original VF . $325
1840 EF/AU, dark toning 140
1841 Original VF-20 135
1843- 0 VG-F 25
1844 EF-45, original 85
1844- 0 VG-h 27
1845 AU-50 -I- , choice 350
1846 6/Horizontal 6, G-VG 170
1846-0 AU, choice old toning 215
1848 VG, original 48
1848 EF-45, scarce, original 235
1849 VF-35, original 75
1849-0 VF-25, original 42
1849-0 EF-AU, choice old toning 225
1855 EF-40 -I- , original & sharp .... 140
1855/4 VG-F, original, edge bangs ... 25
1856-0 Recut Date, VF-30, original ... 55
1856-0 AU-55, choice old toning 200
1856- S EF-45, choice original 390
1857- S AU-50 -t-, original, rare 575
1858- S VF-25, original 125
1859- 0 EF/AU, multi-color toning .... 110
1859-0 AU-50, original 135
1861 EF/AU, choice old toning 100
1862-S Broken S, VF-25 56
1864 EF-40, scarce 130
1865 NO, EF-40 + . Breen #4923 ... 200
1866 AU-55, original, railroad rim . . 210 1866-S No Motto, VF-25, nice 240
1867 VF, old toning 120
1868 G-VG, original 36
1868-S VF-35 H-, original 105
1873- S XF/AU, nice 525
1874 Fine, original 32
1874- S VF weak E 110
1875- CC EF-40 -t-, original old toning . . 145 1883 VF-30, old toning 270
WANTED: 1861-0 HALVES, Confederate obverse. Any grade. Please make offer Satisfaction guaranteed. 14 day return privilege. Please add $1.50 postage on orders under $100; add $3.00 on orders over $100. ANA Life Member 3631 . Ask to be put on my mailing list for Seated Halves. Layaway and approval service available. Please give me a try!
MARK HOTZ RARE COINS • LSCC J^89
69 West Main Street • Westminster, Maryland 21157 Telephone (301) 876-1427 weekdays, (301) 655-6555 evenings & weekends
18
The 1851 Seated Dollar by
David H. Cohen
I have been interested in the 1851 Seated dollar for a number of years. I would like to present nny observations on this date but first I would like to review sonne of the important information previously published concerning this date in New Nether- lands catalogs. In my opinion, John Ford is the champion professional numismatist as far as narrative descriptions of coins and information presented in catalogs is con- cerned. John once described for me the process which was used when he was with the New Netherlands Coin Co. This procedure was as follows: Walter Breen and Don Taxay first looked at a particular coin, made notes, and put their notes in an envelope. Thereafter, John would look at the coin, compare their notes with his knowledge, and then describe the coin for the catalog. I suggest that anyone who is truly interested in studying coins should buy New Netherlands Catalogs from 1950 to 1960. The infor- mation in these catalogs is invaluable to those people interested in the field of numismatics.
In the New Netherlands 1952 ANA Convention Sale Catalog dated August 16, 1952, Lot 1303 was described as follows:
The Rare Original 1851 Silver Dollar
Variety with date high, nearly touching the bust, and slanting down to the right. Upright 5. Haseltine Addenda No. 2. The date on this coin is similar to that found on the 1850. An original. Proof. Sharply struck with an almost complete wire edge.
19
This piece is not fully brilliant and shows the slightest signs of mishandling. There are two or three minor obverse rim defects and a few microscopic abrasion marks in the right obverse field. It is far superior to the damged Proof in the collection of the ANS, formerly from the J. P. Morgan collection. To our knowledge, in addition to the impaired Morgan specimen, only one other example in Proof is known. This coin is now listed and illustrated in the Standard Catalog and is tentatively valued at $750. Excessively rare.
New Netherlands 1952 ANA Catalog, Lot 3640
1851. Variety with the date level and almost perfectly centered between base and milling. Italic 5. Haseltine Addenda No. 1. The date on this coin is similar to the issues of 1852 to 1857. A Restrike. Proof, almost fully brilliant and lightly toned. Catalogs at $250. Very Rare and in great demand.
The above variety of the 1851 Silver Dollar was restruck in both silver and copper All known examples, in both metals, are Proofs or former Proofs. It is believed that these coins, as well as Proof specimens of the 1852 dollar, were manufactured in the
1851 Original Dollar from the ANS Collection Showing Reverse Die Scratch
20
Coiner's Department of the Mint under the supervision of Col. James Ross Snowden. This was done in either 1855, upon the behest of M. Alexandre Vattemare, or during the period from 1859 to 1866. Many early dealers, including Cogan, Harzfeld, Mason and Woodward, repeatedly stated that the dollars of 1851 and 1852 were restruck. Recent research in the National Archives confirms this long neglected contention.
Lot 2872 of the same catalog included some pattern Seated dollars for sale. 1851. Similar to the regular dies, but struck in Copper. A Re-strike. Dull, tarnished Proof. A.W. 144; R-13. We know of this, and three other examples. The Bolender specimen. Lot #201 in his 183rd sale, February 23rd last, realized $117.50. This coin is from the Col. E.H.R. Green collection Ex. Rare.
In order to fully understand the differences between the two varieties of the 1851 Seated dollar, one must consider the following:
First, it appears to me from observing Seated dollars from 1851 to 1857, that the general quality of the coins steadily decreased over this period. There appears to be general deterioration in the quality of the strike on stars 9, 10, 11, 12, and 13 on the right side of the obverse, on the head of Miss Liberty on the obverse and on the top of the wings on the reverse, particularly the top of the left wing. Also, a careful study of the reverses of 1856 and 1857 reveals some doubling and a lack of clarity. The literature of the era indicates that the old machinery at the Mint was replaced in 1858.
Second, the striking qualities of the Seated dollar dies require tremendous amounts of metal flow. When the coins are struck, silver has to flow in great quanti- ties toward the right arm. Lesser amounts of metal are available for stars 9, 10, 11, 12, 13, and Miss Liberty's head. Thus, if the machinery is old or the dies are worn, stars 9, 10, 11, 12, and 13 will generally not be struck up. Also, the head of the seated Liberty, particularly the hair, will have a loss of detail. On the reverse, the tops of the wings on the eagle will appear to have been shorn off and have a flat look to them.
Third, in the 1860's and 1870's, certain unnamed persons at the United States Mint would strike any coin or coins that a collector desired. If they did not have a die for a particular coin, they could make a new one. Only, they could not reproduce the effect of the dilapidated machinery when striking these coins. Thus, the new coins were of better quality than the existing coins for the year in which they were supposed to have been struck. This can be verified by getting a copy of Judd's Book, United States Pattern, Experimental and Trial Pieces. It is obvious, from reading the book, that many of the dollars listed in this book were minted after the original date of issue.
Over the last few years, I have had the opportunity to personally inspect the major museum collections of United States Seated dollars; these being the National Collec- tion at the Smithsonian Institution in Washington, D.C., the collection at the Amer- ican Numismatic Society in New York City and the Byron Reed Collection in Omaha, Nebraska. I was also provided photographs of the Nonveb Collection by David Bowers.
My observations concerning the 1851 dollars that I have seen are given below. Two varieties are available.
21
Original or High Date Variety
The first 1 in the date almost touches the base of the rock. The 5 and 1 slant noticeably down and away from the base of the rock. The center of the first 1 is slightly to the right of the point of the shield above. Examples of this variety are contained in the ANS, Smithsonian and Norweb Collections.
Also, all of the examples I have seen have a die clash in the field next to the elbow and drapery on the obverse, and a die scratch on the shield on the reverse. All have a weakness in the hair and head on the obverse. None have crisp, clear, segmented stars 9, 10, 11, 12, and 13 on the obverse, none have flat, square edges or crisp cut reeding on the edge. None have a thin, crisp top edge on the wings of the eagle on the reverse.
1851 Original Dollar, High Date Variety from the Smithsonian Institution
22
Centered Date or Restrike Variety
The center of the first 1 in the date is ever so slightly to the left of the point of the shield directly above. The date is level and centered in the field. The stars, head, and hair on the obverse are all fully struck, showing detail and segmentation. The rims are square and flat. The edge and reeding are well cut. There are no die clash marks. They have the look of Proofs from the 1860's or later. Examples seen are from the Norweb Collection and the Byron Reed Collection. Also, all 1851 Seated dollars struck in copper are of this variety. (J-132)
I do not believe a proof high date 1851 Seated dollar exists. I mean by this, a high date Proof 1851 Seated dollar with fully detailed head and hair; fully segmented stars; square, flat rims; well cut edges and reeding with thin tipped eagle wings. The ANS coin does not meet this criteria. Other coins which were described in old catalogs also do not meet this criteria. Compare the picture with the description for Stack's David-Graves Sale, April 8, 1954, Lot 1350 and the Anderson-Dupont Sale, November 11, 1954, Lot 2528.
1851 Restrike Dollar, Centered Date Variety from the Byron Reed Collection
23
I would suggest the following occurred: In 1851 no one In the United States really cared about Seated dollars. Some were struck for circulation but because of fluctuating silver prices, nnost were later melted. One and only one die was used to strike all of the originals. Because of the machinery available at that time, all 1851 high date Seated dollars were of imperfect quality, with weakness appearing at key points in the design.
Now in the 1860's and 1870's, collectors of Seated dollars began to appear They looked in circulation for examples of the 1851 dollar. Very few were found. The demand for examples of this date went up. Officials at the Mint decided that they could fill the demand for the 1851 dollar They found that the old original die had been destroyed. They could have used an old die that was made in 1851 but never used to strike coins. Or, more likely, they used the standard hub to create a new working die using the old style date punches which matched the original dies. The only problem was that the quality of the machinery available was superior to the machinery used in 1851. The result — the new coins were superior to the originals, a difference in quality that can be detected with careful examination.
1851 Restrike Dollar from the Norweb Collection
24
HALF DIMES
1853 Arrows, NGC AU-58, brown toning $135
1857 VF. cleaned 10
1869 AU, attractive 100
DIMES
1873 Arrows, AU, retoned blue around periphery over old cleaning $125
1891 NGC AU-58, brown toning 125
TWENTY CENT PIECES
1875-S VG, no problems $40
1875-S S/S, PCGS AU-58, brilliant and attractive 490
QUARTERS
1854 Arrows, XF-t-, dark fields with lighter devices $ 55
1857 XF, light cleaning 32
HALVES
1855-0 Arrows, AU, some luster $180
1857 XF, light cleaning 48
1877-S AU, scratch in obverse field 80
DOLLARS
1840 VF, many marks $220
1872-S F, BE in LIBERTY very weak, dark toning with very clean fields 350
TRADE DOLLARS
1875-CC AU, cleaned $275
JIM EVANS ANA, LSCC, ANCA
2510 South Day Street Brenham, Texas 77833
Telephone (409) 836-4628
Call 7:00 - 10:00 p.m. CT MASTERCARD and VISA accepted. Add $1.00 for postage on all orders.
I will refund postage both ways if you are not satisfied with my grading or description. 10 Day Return Privilege.
25
A Re-examination of the 1839-0 Half Dime with a Rotated Reverse
by
Al BIythe
Two theories could account for the existence of rotated reverse errors.
1) The reverse die was mounted wrong and caused a rotation of a given number of degrees in relation to the obverse. This would result in a number of coins being struck with the same degree of rotation relative to the obverse until the error was discovered and corrected.
2) The set screws or mechanism that held the reverse die in place loos- ened. The initial relationship relative to the obverse began to change with the reverse die rotating until the problem was discovered and corrected.
Illustrated below are the rotated reverses of three 1839-0 V-3A half dimes owned by the writer. The various degrees of rotation shown were measured by a Rota-Die and support the second of the two theories. The Rota-Die is a patented device that accommodates any size coin and allows the user to view the coin from both sides. This is done by aligning the obverse in an upright position and turning the Rota-Die over to observe the relationship of the reverse to the normal upright position. A movable compass rose is then turned either clockwise or counter clockwise to determine the degrees of rotation for each reverse. The three coins in the picture show a VF rotated TyCCW, an AU rotated 58°CW and another AU rotated 168°CCW. The three coins in the picture were positioned so that their reverses would appear upright if they possessed the standard coin alignment.
1839-0 V-3A Half Dimes with Rotated Reverses
26
Recently, I obtained a fourth 1839-0 V-SA half dime which grades G and has its reverse rotated 84°CCW. These widely varying rotations support the theory that the reverse die loosened and rotated during the nninting process. I am quite confident that given enough time, one could put together a collection of enough rotated reverse errors of the 1839-0 V-3A half dime to show that the reverse rotated through most of the positions of a circle during the striking of this variety
Club members should check their 1839-0 half dimes for rotated reverses. I would be interested in hearing from anyone who has an example of this variety with a reverse rotated differently from those noted above. Please contact me as follows: Al BIythe, RO. Box 1443, Placentia, California 92670-3638. You may also reach me by telephone at (714) 996-COIN.
LSCC Members Meet at Summer Long Beach Convention
Members of LSCC gathered at the Long Beach Coin Convention on Saturday, June 3rd at 2:00 p.m. Members in attendance were Al BIythe, Bill Cregan, Larry Briggs, Brian Greer, Ken Hill, David Olmstead, Harry Smith, Dave Thomas, Hal Teitelbaum, and Charles Woodruff. The meeting presented an opportunity to view complete sets of two Liberty Seated denominations. Al BIythe showed us his complete set of half dimes nearly all of which graded better than XF. This collection was unusual in that it contained a large assortment of varieties along with the normal date and mintmark specimens. Quarter specialist Hal Teitelbaum showed us his complete set of Seated quarters. The vast majority of Hal's coins also graded better than XF and this oppor- tunity represented a rare viewing experience for the Liberty Seated collectors present.
Although Liberty Seated material was not abundant on the floor of the conven- tion, some nice material was still to be found. I remember seeing examples of the 1846 and 1853-0 No Arrows half dimes which graded nearly XF There were two nearly complete sets of Seated dimes which traded hands on the floor. Both sets contained coins that were mostly in average circulated condition and both sets were missing the key 1874-CC date. In the quarter series I saw an 1849-0 in XF, an 1871-CC in Good and an 1870-CC in Fine. In the half dollar series I remember seeing an 1878-S in Good and two 1878-CC pieces that graded AU.
LSCC members plan to meet again at the Long Beach Fall Convention in October See you there.
Brian Greer LSCC #716
27
ATLANTIC RARE COINS • ANA, LSCC #1028
We specialize in Liberty Seated dollars and other Liberty Seated coinage. Our coins are attractive, fair- ly graded, and reasonably priced. We are eager to please. Try our coins. Send us your want lists.
HALF DIMES
1840 PCGS MS-62, well struck, very pretty toning $390
1867 NGC MS-63, pretty toning over lustrous surfaces; a scarce date 1375
DIMES
1862 PCGS IVIS-62, pretty iridescent toning, well struck, a scarce date $325
1876 PCGS Proof-63, a gorgeous proof, brilliant with a hint of light
golden toning; well struck with reflective surfaces 825
1884 AU-58, brilliant and well struck 65
1887 PCGS Proof-62, light golden toning, a nice type coin 425
1889 PCGS Proof-64, very pretty toning w/electric blue & russet highlights . . .2200
1890-S AU-55, light silver-gray toning, well struck 155
QUARTERS
1867 PCGS Proof-62, pretty iridescent toning over mirrored fields $1200
1879 PCGS MS-62, a brilliant white coin, proof-like, very sharp 675
HALF DOLLARS
1843-0 NGC MS-63, a coin much scarcer than generally recognized,
this coin is sharply struck with nice light iridescent toning $2450
1852 PCGS MS-60, lightly toned with frosty surfaces 1400
1872-CC EF, well struck, darkly toned 450
GOBRECHT DOLLARS
1836 Proof-60, original, name on base, coin axis, eagle flying upward amid stars; a beautiful, highly reflective example of this popular variety; deep mirrored fields with light golden toning $6500
SEATED DOLLARS
1847 NGC AU-50, a better date with attractive light gray and golden
toning; well struck with much original mint luster $610
1849 AU, brilliant and well struck, lightly polished 550
1854 AU-55, beautiful iridescent toning over very clean surfaces;
very scarce in this high grade 3100
1855 AU-55, a matched pair with the 1854 listed above 2800
1858 Proof-60, a very pretty example of this proof only issue;
well struck and attractively toned with blue & gold highlights 7200
1859- 0 PCGS MS-61, brilliant and lustrous; not nearly as baggy
as these usually are 1475
1860- 0 PCGS MS-60, very well struck with light peripheral toning 1175
1862 MS-60, a very pretty proof-like coin with light golden toning 2350
1872 AU-55, attractive toning, lustrous surfaces 500
If you are considering selling your certified coins, please call us first.
Satisfaction guaranteed. Fourteen day return privilege for any reason if in original unopened holder Please add $3 for postage and handling on orders under $100. VISA and MasterCard accepted for orders over $100.
P.O. Box 446, W.O.B., West Orange, New Jersey 07052
Telephone (201) 731-1040
28
A New Variety of the 1875-S Half Dollar Discovered
by
Larry Briggs
At a recent Lanham, Maryland Coin Show I found an unusual looking 1875-S half dollar with a reverse that I had never seen before. I purchased the coin and discussed my new find with half dollar specialist Randall Wiley. After studying the piece Randy stated that this was the first example of an 1875-S half dollar that he had seen with a micro s mintmark. He stated, however, that this reverse was known for one variety of the 1877-S half dollar After contacting several knowledgeable collectors and researchers I found that only Brian Greer had seen this reverse on an 1875-S half. He remembers seeing an AG example of this variety seven or eight years ago. If anyone else has seen an example of this variety, I would be very interested in hearing about it. Please send correspondences to Larry Briggs, RO. Box 187 Lima, Ohio 45802.
The pictures of the 1875-S half dollar were taken by LSCC member Bill Bugert.
29
HALF DOLLARS
1853 VF/XF, A4R $80
1853 XF, A&R, original 190
1854 XF40/40 65
1854-0 VG 15
1854- 0 UNC 500
1855- 0 F 28
1855-0 XF/AU 100
1855- S F/VF 650
1856- 0 XF 52
1858 XF-h 70
1858-0 VF 38
1858- 0 F 15
1859- 0 VF/XF 55
1861-0 AU-h, original 115
1875 VG, original 17
1876 VG, original 17
1876 VF, original 35
1876 UNC, original 185
1877-S VG, original 15
DOLLARS
1836 Gobrecht, XF-h $3800
1840 F 200
1840 XF 395
1840 XF/AU 500
1841 AU50 400
1842 VF/XF 220
1842 AU 350
1843 XF 300
1843 UNC 500
1844 VF/XF 375
1844 UNC 1200
1845 G 120
1846-0 XF 310
1846-0 XF-H 340
1846-0 AU + ,PL 1400
1847 F 115
1847 AU58 490
DOLLARS continued
1848 VF-h $415
1848 XF 600
1848 M+ 1050
1849 AU 400
1850 XF 1000
1850-0 VF 400
1850 0 VG, scratches 90
1851 Proof 16000
1856 XF 690
1856 UNC, weak strike 1100
1858 Proof-5G 6000
1859 VF-H 375
1859 XF 600
1859-S G, scratches 135
1859- S XF 625
1860 AU50 600
1860- 0 XF 210
1860-0 VF-t-, original 150
1860-0 AU58 450
1862 AU58 1300
1864 G 85
1864 G6/F15 140
1865 XF, reverse rim dings 250
1866 XF/AU, weak strike 320
1868 XF 330
1868 AU58 950
1869 Proof 1250
1870 XF 300
1870 Xf+ 330
1870-CC XF-H 900
1871 AU 350
1871 VF 150
1872 XF/AU 275
1872-CC VG/F, rim bump 950
1872-CC F 1050
1872-S F/VF 375
1873 XF-f 400
Terms
All coins shipped as soon as possible. Full 10 day return privilege.
Hours: 8 a.m. to 9 p.m.
Thank you for your previous orders.
MCI
MILL COIN INVESTMENTS
P.O. Box 847 Hastings, Florida 32045 Telephone (904) 692-1846
30
An 1858-0 Half Dollar with a Quadruple 8 in the Date
by
Kenneth R. Hill
Recently, I was the successful bidder on an 1858-0 half dollar which was cata- logued as follows:
1858-0 About Uncirculated, bright luster Quadrupally repunched 8: 1) bot- tom loop visible in the base; 2) much too high and much too far to the right; (3) a good bit too low; 4) proper place.
This piece was Lot #1888 from Stack's Public Auction Sale of October 21, 1988. I figured it was probably an earlier die state of one of the seven previously reported varieties of the 1858-0 half with a repurrched date. When I compared my coin to the other repunched date varieties of this year I was pleasantly surprised to find that it was a new variety and did not match the characteristics of any of the previously reported varieties.
The 8 in the base is similar to that seen on the variety reported by Bill Fivaz in Issue #30 of the Journal and reprinted on page 280 of the Collective Volume Number Two. However, my coin does not show the extra 1 in the denticles or the extra 8 or 5 up into the base near the fold in the skirt. This coin therefore, cannot be an earlier die state of the piece previously reported by Bill Fivaz. My coin also shows the bot- tom of an additional 1 punched into the base which was not mentioned by the cataloguer.
31
1858-0 Half Dollar with Quadruple Date
Characteristics of the Obverse
All stars are recut except for the 9th star and the 10th through 13th stars are weakly struck. There are two extra spikes of drapery extending upward from the thigh. There are many die scratches to the left and to the right of the date. There are clash marks between the pole and the arm which extend out into the field. The 1 in the date is 0.2mm below the base and 0.32mm above the denticles.
1858-0 Half Dollar Showing Recutting at Second 8
32
Characteristics of the Reverse
The 0 mintmark is centered in the crotch and measures 1.46nnm tall. The nnint- mark is 0.2mm from the feathers and 0.2mm from the stem. The area around the leaves is unfinished. There is a clash mark from the eagle's wing extending toward the T in UNITED, one from the stem of the lower left berry extending into the field toward the mintmark, two from the eagle's side to the claw, one to the arrow shaft, and two running diagonally through the vertical stripes. The shield also has a raised area in the center right part of the vertical stripes.
LIBERTY SEATED COLLECTOR COINS FOR SALE DIMES
1870 S F + , original $225
1878-CC Type I reverse, AU-55 + , lustrous, rare 500
1878-CC Type II reverse, XF, ANACS papers 215
QUARTER LOT
A lot of 16 coins containing the following dates: 1838, G-VG; 1853-0, G + ; 1853-0, G-VG; 1853-0, F; 1854, F; 1857, VF; 1858, VF; 1872, VG-f-, scarce; 1875-S, Small s, scarce; 1875-S Medium S, very scarce, VF; 1876, F; 1876 love token reverse. Fine obverse; 1876-CC, VG, fine reeding; 1876-CC, mintmark as on 1870-CC quarter, fine reeding, scarce, VG; 1876-S, F; 1891-S, VG.
Take the whole lot $400
NEEDED:
1870-CC, 1871-CC, 1872-CC, 1873-CC quarters, fine or better.
Terms of Sale
1. B & D grading.
2. All coins guaranteed genuine.
3. Personal checks must clear.
4. Postage paid on all orders.
RON FEUER • LSCC #775
1006 Fairfield Drive Gastonia, North Carolina 28054
Telephone (704) 365-5348 or (704) 864-2222
33
LIBERTY SEATED SPECIALS from CHARLES W. WOODRUFF
HALF DIMES
1838- 0 F-15, nice, tiny reverse rim maric $195
1840- 0 l^rge 0, G-5, scarce variety 40
1840 Drapery, AU-55, choice proof-lilce surfaces, some liglit hairlines 275
1842 NCI AU-55, beautiful gold and blue toning 135
1842-0 VG-10, excellent for grade 40
1842-0 VF-35, old cleaning, small obverse rim mark 195
1846 G-4, nice with full rims, hard to find 140
1847 XF-40, V-1, recut date 85
1848-0 XF-40, sharp, mark on arm 85
1849 AU-55, V-8a, recut date 150
1849/6 AU-55, Breen #3053, attractive toning 145
1854 AU-58, V-1, Breen #3069, date overlaps rock, sharp 145
1856-0 AU-55, beautiful, tough above XF 325
1858-0 AU-50, typical soft strike, rainbow toning 125
1863 G-5, lightly cleaned, good detail 130
1864 G-5, toned, several marks 175
1865- S XF-40, hard to find in better grades 165
1866- S AU-50, nice strike, clean piece 275
1867- S XF-45, lightly toned, sharp 135
1868 VF-25, old album toning 135
DIMES
1839- 0 XF-40, lightly cleaned but sharp $60
1867-S VF-30, nice old toning 75
QUAFTTERS
1846 F-15, attractive $ 30
1853 Arrows, VP, love token reverse, "R" with ornate border 15
1855 Arrows, XF-45, a really choice example 90
1873 Arrows, VF-30, old cleaning 42
HALF DOLLARS
1839 Drapery, VG-10, old cleaning $32
1840 Small Letters, VF-25, nice 68
1841- 0 VF-30, attractive 68
1853-0 Arrows & Rays, XF-40, sharp strike, dipped 195
1855 Arrows, F-12, nice original example 35
1859 VF-30, deep original toning 42
1860-S VF-20/30, cleaned and retoned, a couple of obverse scratches 49
1862-S VF-35, nice old toning, small mark at shield 48
1871 VG-8, sharp 21
1873-CC No Arrows, G-6, very appealing for grade 95
Additional dates/grades available. Please send your name and address for free list. ANA grading. 15 day return on all coins in original holders. List alternate selections if possible. Thank you.
Charles W. Woodruff LSCC #893
P.O. Box 3776 • Redwood City, CA 94064 Telephone (415) 367-1064 (evenings and weekends)
34
The Last San Francisco Half Dime by
Bill FIvaz
Valentine lists only one variety for the 324,000 half dimes struck in San Francisco in 1873. This variety is described as having a heavy, even date and it has the date style with the closed 3 and no arrows at the date. On the reverse there is a large S mintmark below the wreath, rather close to the bow. Also, both ends of the ribbon about touch the leaf stems.
In researching the 1873-S half dime in the Journal, I was unable to find anything written on this date. Furthermore, I was unable to find even a single ad offering an 1873-S half dime for sale. I was trying to find some reference to the variety pictured in this article, with a very noticeable die break through the date.
Because of the die break I submit that the coin pictured with this article is pro- bably a very late die state of variety V-1 , the only variety reported by Valentine for this date. This is a distinct possibility as I learned after mentioning this variety to Dave Lange at the Mid-Winter Convention in Colorado Springs recently. Dave said that the only other time that he had seen this date with the die crack through the date was when he examined the 1873-S half dimes that were in the San Francisco Mint time capsule that was opened about 20 years ago. It seems quite logical that a few of the last half dimes minted in San Francisco would be saved and placed in the capsule along with other historical items.
I would be interested in corresponding with anyone who has a similar piece with the die crack through the date. I am curious to see if there are any other examples of this variety out there. Please send all correspondences to: Bill Fivaz, P.O. Box 888660, Dunwoody, Georgia 30338.
1873-S Half Dime with Die Crack at Date
35
DUPLICATES FOR SALE OR TRADE. / WOULD MUCH RATHER TRADE!
TWENTY CENT PIECES
1875 Choice AU, nice bright coin $440
1875 UNC-60, tiny rim tick at 11 o'clocl(. Full strong LIBERTY with
semi P/L fields. A beautiful coin 600
QUARTERS
1840 XF + +, old cleaning, album toning, a nice coin $135
1850-0 F+ + , original, spotty toning 37
1852 F + , original 65
1853-0 F-h-t-, beautiful, original coin 30
1857 XF+ -H, very nice, light edge toning 30
1865 VF, light edge toning 100
1866-S S/S, Fine, original 210
1869-S S/S VG -H- , full LIBERTY 110
1873 NA, Open 3, AU -H , original light gray 155
1873 WA, XF-^ 95
1875-S VF-f-, Type 2 reverse. Medium S, nice original coin, Breen #4077 95
1878-CC F-t-, nice original coin 35
1880 G/AG, just wear, nice for grade 80
HALF DOLLARS
1858- S Large S, Choice AU, old cleaning, light toning, a nice coin $325
1860-S Large S, Gem AU, a beautiful original coin 295
1862-8 XF-t- -«-, cleaned, now a light gray 50
DOLLARS
1846-0 VF $250
1847 AU, mark free rims and fields, light toning 340
1849 VF, original 250
1859- 0 XF-h 275
1861 Choice AU, three light ticks in obverse fields, one light tick in reverse
field, a very nice coin 900
1862 AU, two light ticks to the left of date, a nice coin 900
1864 VF, a nice coin 325
1871 XF-H 185
1871 XF + , original, nice 295
1871 AU, old cleaning, retoning 295
1873 XF-H-h, original 375
My quarter set is complete but I want to upgrade the following years, any mint, to grades from XF to UNC: 1849, 1852, 1874.
10 Day Return Privilege for any reason. Checks must clear.
Postage on orders under $50 would help. Grading by ANA and Photograde.
Scott Atkinson • LSCC #882 2860 N.W. 27 Avenue • Fort Lauderdale, Florida 33311
Telephone (305) 739-9101 days ALL COINS KEPT IN BANK (305) 722-444 evenings
36
An 1856 Small Date Dime from a Doubled Die Obverse
by
Brian Greer
Pictured below is an 1856 Small Date dime struck from a doubled die obverse. Fairly prominent die doubling is visible on the lower portion of Miss Liberty's pole and on the vertical stripes in the shield above the lettering in LIBERTY. The die doubl- ing on this coin is similar to that seen on the 1873 Quad-stripes half dollar in that a number of vertical stripes within the shield have been affected. On normal dimes of this period the vertical stripes come in sets of two. On this doubled die coin the ver- tical stripes above LIBEFTTY do not come in pairs but appear to be a solid row of evenly spaced lines. Other die doubling is evident on Liberty's banner as well as within the drapery to the right of the shield.
I have found that this variety is available to the interested collector, especially in lower grades where the doubling on the pole is still evident, even on VG specimens. It should also be noted that I have seen two other, less obvious, doubled die varieties for the 1856 Small Date dime. One of these may possibly be the A-5 variety listed by Kam Ahwash in his Encyclopedia of Liberty Seated Dimes.
1856 Small Date Dime from a Doubled Die Obverse
37
LSCC Annual Meeting
The 16th Annual Meeting of LSCC will be held in conjunction with the 98th Anni- versary Convention of the American Numismatic Association. The convention will be held at the David L. Lawrence Convention Center in Pittsburgh, Pennsylvania from August 9th through August 13th, 1989. The club meeting will be held in Room South 12 at the Convention Center on Thursday, August 10, 1989 at 10:00 a.m. Please try to attend. There will be an announcement of the results of this year's election of Officers, an announcement of the article selected by the members as the best to appear in the Journal during the past year, a short business meeting and an oppor- tunity for members to exchange information on Seated coins.
The business meeting will include a financial report for the current year by the club Secretary-Treasurer, the setting of dues for the next club year, a proposal for a possible dime survey for the fall of 1989, and a discussion of book sales for the two collective volumes. Every attempt will be made to keep the discussion on each agenda item short and to the point so that we can have a brisk, informative, and productive session.
FOR SALE
1850-0 Seated Dollar. XF. A light cleaning and a slight scratch, does not detract from this well-struck, better date coin
$695 $275
1875
Trade Dollar. About VF. Scarce date
ARNOLD LANDSBERG #446
P.O. Box 1334 Manchester, Connecticut 06040
10 Day Return, Personal Checks Must Clear
38
The 1865-S Dime by
John W. McCloskey
Kam Ahwash listed only one variety for the 1865-S dime in his encyclopedia that was first published in 1977. Several years ago, I located an example of this date that was struck from a second obverse. Recently, I received a coin for observation from Jack Beymer which was struck from a second reverse. It would appear that this would be a good time to review the information on this date and provide descriptions for furture use by dime collectors.
The 1865-S dime has a mintage of 175,000 pieces with most of the coins available today showing the results of heavy usage in the early west. While only one variety was reported in the Ahwash Encyclopedia, two additional varieties have since been identified. The variety reported by Ahwash has a date that slopes downward slightly from left to right. The new obverse has a date that slopes upward from left to right. The identification is evident from the position of the digit 5 relative to the base of the rock. The 5 is much closer to the rock on the new obverse than on the obverse pic- tured in the encyclopedia. In addition, two reverses have been identified for the date. The reverse pictured in the encyclopedia has a thin s mintmark under the bow. The new reverse has a thick s mintmark which is close to the same position as the mint- mark on the A-1 variety.
Descriptions of the three known varieties for this date are as follows:
1865-S A-1. Date sloping downward. The digit 1 measures 0.3 mm below the rock and the digit 5 measures 0.4mm below the rock. The left edge of the digit 1 is under the 7th stripe in the obverse shield. The small thin s mintmark is a little closer to the right ribbon. The s mintmark is 50% below the line that connects the bottom edges of the two ribbons.
1865-S A-2 Dime with Date Sloping Upward
39
1865-S A-2 Dime with Small Thin s Mintmark
1865-S A-3 Dime with Date Sloping Downward
40
1865-S A-2. Date sloping upward. The digit 1 measures 0.3mm below the rock and the digit 5 measures 0.2 mm below the rock. The left edge of the digit 1 is below the space between the 6th and 7th stripes. The small thin s mintmark is a little closer to the right ribbon. The s mintmark is 50% below the line that connects the bottom edges of the two ribbons.
1865-S A-3. Date sloping downward. The digit 1 measures 0.3 mm below the rock and the digit 5 measures 0.4 mm below the rock. The left edge of the digit 1 is under the 7th stripe in the obverse shield. The small thick s mintmark is a little closer to the right ribbon. The s mintmark is 65% below the line that connects the bottom edges of the two ribbons.
The obverses of varieties A-1 and A-3 are the same. The reverses of varieties A-1 and A-2 are the same. This makes three varieties from two obverses and two reverses. Other varieties could exist. Only a more detailed study of the coins of this date will determine whether additional varieties exist and the rarity of the varieties so far iden- tified. The two obverses are most easily identified by the position of the digit 5 relative to the rock. The A-1 variety has a 5 that is twice as far from the rock as the A-2 var- iety. The reverse on the A-3 variety appears to be the same as that seen on the 1864-S dime.
The information in this article was presented as a result of a recent conversation that I had with Jack Beymer, who presented me with an example of all three varieties for study and evaluation. The pictures of the 1865-S dimes were taken by Marilyn Van Allen at Coin World.
1865-S A-3 Dime with Small Thick s Mintmark
41
Gem BU 1870-CC Dollar Sold
This article presents a picture of the Gem Brilliant Uncirculated 1870-CC dollar that was sold by Stack's in their sale of the LR. French Jr. Fannily Col- lection on January 18, 1989. The coin pictured is Lot #55 from that sale and is the same coin listed as Lot #1194 from Auction '84. The catalogue describes this piece as the finest known specimen of this date and describes it as hav- ing prooflike surfaces and a needle sharp strike. A recent communication with John Kroon contained the following information on this coin:
I examined this coin at Auction '84 in Detroit and I found it to be a truly breathtaking specimen. Both sides are toned a light golden brown and Lib- erty is evenly frosted. Stack's refers to this coin as the finest known specimen of this date and I have no reason to dispute that. This specimen has Reverse 4 as described by my article on this date in Issue #32 of the Journal and it has Obverse 1 with the Date Left. In uncirculated condition the 1870-CC date is quite scarce and in true gem quality there are probably no more than two or three specimens known.
The picture of the 1870-CC dollar appearing with this article was printed with permission from Stack's.
The Editor
42
Collective Volumes Available
The club currently has on hand copies of the two collective volumes of the Gobrecht Journal. These volumes are hard bound reprints of the material that has appeared in the Journal ordered by denomination and date for easy reference by the collector. These books have become valuable reference books on Liberty Seated coinage and would be important additions to any numismatic library.
Collective Volume Number One contains the material in the first 18 issues of the Journal that was published between December 1974 and July 1980. This volume contains more than 400 pages of material on Seated coinage and can be purchased at the established price of $24 per book.
Collective Volume Number Two contains the material in Issues #19 to #33 of the Journal that was published between November 1980 and July 1985. This volume also contains more than 400 pages of material on Seated coinage and can be pur- chased at the established price of $22 per book.
Work on Collective Volume Number Three will begin in the fall of 1990 after the publication of the summer issue of the Journal next year. It is expected that this new volume will contain the material that was printed in the Journal over the five year period from November 1985 to July 1990.
When ordering the collective volumes, make checks payable to LSCC and send to John McCloskey, President LSCC, 5718 King Arthur Drive, Kettering, Ohio 45429.
Collective Volume Number One
Collective Volume Number Two
43
LETTERS TO THE EDITOR
John Kroon's article on the die differences of 1850 Seated dollars was interesting but missed the main point in identifying the dies. The collector can easily tell a gen- uine 1850 dollar from an 1850-O dollar simply by observing the 5 in the date on the obverse. All 1850 Philadelphia dollars have a 5 in the date with a space between the bottom of the upright and the top of the ball. All 1850-O dollars have a 5 where the bottom of the upright is connected to the top of the ball.
I noticed the recutting at the bottom of the O on my 1850 dollar just as it is shown in the Journal photo. I don't know if this feature is visible on all survivors of this date. It looks strong enough to have remained during the life of the die. I'll look for this feature in the future.
Ron Severa LSCC #305
Recently, I purchased a "Library of Coins" album for my Seated dollar collection in fairly good condition. I was wondering how many other collectors have been able to locate one of these difficult to find albums for their collection. The arrangement of openings in the album is very interesting. There is an opening for the 1836 Gobrecht dollar but none for the 1838 or 1839 Gobrecht dollars. There is no opening for the 1870-S dollar or for the 1873-S dollar They have included an opening for the proof only 1858 dollar and openings for the original issues of 1851 and 1852. For me this album was a miraculous find.
Joseph Trezza LSCC #885
GOBRECHT JOURNAL BACK ISSUES WANTED
I need Issues #19 to #36. Sets Considered.
Robert Galiette
10 Wilcox Lane • Avon, Connecticut 06001
44
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CHANGE OF ADDRESS
We ask that you notify us as soon as possible when you move or change your nnailing adcJress. It seems that we always have one or two Journals returnecJ to us for improper address when a member has moved to a new Ickcation. In such cases we must wait for the member to contact us and pr'ovide us with the new address. To avoid unnecessary delays in receiving the Journal and to assist us on keeping our mailing list current, we ask that you inform us as soon as possible of any change of address.
SEATED DOLLAR REVERSE 1870-S from Norweb Sale
Your comments on any of the articles, ads or club policies are invited. This is your club and the Officers are dedicated to operating it on behalf of the members. Address any comments to:
John McCloskey
Editor, Gobrecht Journal 5718 King Arthur Drive Kettering, Ohio 45429