Lot 603
Capped Bust Half Dime. 1834. PCGS graded MS-65 PQ. Brilliant, fully-mirrored surfaces graced with a touch of champagne toning. Very faint evidence of die polishing can been seen when viewing the coin at an angle. Liberty is 100% frosty and has only a minute tick mark on upper right of jawbone. Obverse quickly identified by a shallow lint mark connected to curl in front of cap. Reverse has the same appearance without the light champagne hues. Die polish lines are stronger, but still soft, and seen going upwards at a right angle. Two short raised die lines to the left of the eagle's beak, touching B in PLURIBUS. Eagle and all lettering superbly struck and covered with thick, original mint frost.
Proof Capped Bust coinage from the 1830's is exceedingly rare and undervalued. While the present specimen is housed in an older green label PCGS holder as MS65, we note the accompanying signed letter from Walter Breen stating his belief that this piece is a proof issue. The letter, dated February 8, 1991 states the following:
"This certifies that I have examined the accompanying coin and that I unhesitatingly declare it genuine and as described below."
"It is an 1834 with the 3 over a backwards 3 half dime, Valentine 5, Encyclopedia 2997. Proof from the very earliest die state known or reported: before the chipping began in lower loop of 8; with the die scratches at and left of beak. It is, to date, the only one I ahve seen in proof state. Surfaces and striking characteristics are a good match for several of the V-4 proofs of this year (the only variety of 1834 proofs normally seen)."
Furthermore, when Bowers & Merena catalogued this piece in their ANA 1891-1991 Centennial Sale, they described it as a "Gem Proof 1834 Half Dime. 1834 V-5. Proof 66". We are pleased to offer this spectacular rarity and suggest to all potentail buyers or researchers that careful study should be taken in reviewing the coin itself as well as the enclosed original letter from Walter Breen. Lot tag from the Bowers ANA 1891-1991 Sale included. PCGS Holder # 4740538 (PCGS # 4281) .
Estimated Value $2,500 - 3,000.
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