Lot 1461
1838 Liberty Seated Half Dime. NGC graded MS-68 Star. Wonderful rainbow toning on both sides. Perhaps the finest known. Nice bold strike. Beginning at the Philadelphia Mint in 1838 and stopping abruptly in November 1840, working dies for the seated Liberty half dime were made from the No Stars hub of 1837. However, stars were hand-punched into these working dies around the obverse border. This is known as the "No Drapery" style to distinguish it from the "No Stars" of 1837-38, and it was produced, as noted, in only three calendar years. The first-year 1838, therefore, enjoys immense collector interest since it is the first year of a new issue. There is also, of course, type pressure from general collectors hoping to acquire a top-end Gem regardless of date but zeroing in on surface condition.
For the type collector who will accept only finest for his collection, we are proud to present this monumental No Drapery half dime. The surfaces glow with a kaleidoscope of hues. The photographs, thanks to our star photographer, do it full justice. Dancing mint luster is seen propelling the vibrancy outwards and upwards, while the devices are completely full. Blemish-free, this coin is of the highest rarity and among the most prestigious No Drapery half dime known to the two major grading services. NGC serial #3001730-001. Pop 1; none finer; recently graded.
In all, some 4,218,150 (plus an unknown number of Proofs) of this design came from Philadelphia, with an additional 1.8 million from New Orleans. The old hubs were abandoned late in 1840 in favor of the new Robert Hughes design, allegedly an improvement, in actuality the exact opposite.
Estimated Value $20,000 - 25,000.
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