|
Sale 72
|
|
press UP arrow key to increase the zoom ratio.
press DOWN arrow key to decrease the zoom ratio.
press RIGHT arrow key to increase the zoom window size.
press LEFT arrow key to decrease the zoom window size.
|
|
Lot 1324
1836. Reeded Edge. PCGS graded Proof 64 Cameo. CAC Approved. Only 12 examples minted. Designer Christian Gobrecht. Lovely golden toning on both sides. The 1836 Reeded Edge Half Dollar has often been mislabeled a Pattern. Since the time of R. C. Davis's original articles on Patterns in The Coin Collector's Journal in the 1880s this has been the case. Robert W. Julian established in 1982 that, in addition to a very small production run (non-Proof) on November 8, 1836, further quantities were struck in December of that year. The total minted in 1836 was unquestionably low due to difficulties with the new steam press, probably mostly due to ejection failures. The specimens struck in November and December would, without question, have been struck at the old weight and fineness since that was the only legal basis on which they could have been struck prior to passage of the new Act of January 19, 1837. These would thus have weighed 208 grains and had a fineness of .8924 silver. The pieces struck early in 1837--and forming part of the delivery of February 22, Washington's birthday and the first anniversary of the "First Steam Coinage" token and probably not a randomly chosen date -- would have been on the new 206-1/4 grain.900 Fine standard as were the 1837 strikes of the 1836-dated Gobrecht Dollar. Both the December 1836 and the February 1837 issues were struck for, and released to, circulation through normal channels.
Based on Mint delivery figures for December 1836, and for the first half of 1837, as well as on the relative ratios of the two weights for specimens whose weights are known to us, it is believed that some 200 Halves were struck and delivered in December (on the old standard), and 1,000 more in February 1837 (struck on the new standard). Since the weight differential between the two issues was only one and three-quarters grains, circulation would quickly blur the distinction.
The Mint had been using stem power in the production of large Cents since March 1835, the first Half Dollars were not struck on one of the new steam-powered presses until November 8, 1836. The first coins of this denomination using the new technology were a few dozen Proofs of the new Reeded Edge design. Mint Director Levi Woodbury sent some, if not all of these specimens to Secretary of the Treasury Levi Woodbury. The Proofs were followed by approximately 1,200 business strikes. Such a limited original mintage explains why the 1836 is one of the most eagerly sought, key-date issues in the entire U.S. Half Dollar series.
Perhaps surprisingly for a Proof, the 1836 Reeded Edge Half is typically seen with isolated striking incompleteness. Such is definitely not the case with the present example, for on the obverse the star centers are all well impressed. The balance of the devices, too, are bold-to-sharp in definition. Both sides are developed rich toning over time in pale lilac to golden russet shades that swith to almost silvery-steel iridescence at the rims. Direct angles call forth the underlying mirror surface. Close inspection with a loupe reveals only one or two trivial handling marks. Among the latter features is a thin, wispy line by the eagle’s neck feathers at right and a little roughness in the field left of the beak that should serve as a useful provenance markers. Richly original in appearance, with undeniable rarity and tremendous collector appeal. Pop 2; 1 finer in 64+CAM (PCGS # 86223) .
The name of Gobrecht, the third person to occupy the post of chief engraver at the Philadelphia Mint and the designer of this 1836 Reeded Edge Half Dollar, is well known to collectors today and is reflected in such popular terms as Gobrecht dollar and The Gobrecht Journal, the latter being the publication of the Liberty Seated Collectors Club. Among pattern coins his contributions are at once important, beautiful, and extensive. Most familiar are his Liberty Seated coins, first made in pattern form in 1836, and continued across the denominations of half dime, dime, quarter dollar, half dollar, and silver dollar for years thereafter. Throughout the middle range of the last century, the Liberty Seated obverse as well as Gobrecht's perched eagle reverse were used as obverse and reverse dies for hundreds of different pattern varieties, often with the other die being the work of James B. Longacre or one of the Barbers.
Separately, Gobrecht's flying eagle is an American numismatic icon. First used on the 1836 pattern dollar, it later appeared on many other patterns as well as regular issue 1857-1858 cents.
Not only did Gobrecht's designs stand on their own, but they spawned many later versions by others, including Liberty Seated figures created by Longacre, William Barber, and possibly even by J.A. Bailly.
Estimated Value $70,000 - 80,000.
|
| |
| Realized $66,125 |
|
