Lot 1236
1836. Reeded edge. NGC graded MS-61. Lovely violet centers surrounded by electric blue iridescense. The 1836 Reeded Edge Half Dollar has sometimes been mislabeled a Pattern. For the records, 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 time spent setting up the new steam press, and also 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. Pop 11; 20 finer.
Estimated Value $6,000 - 6,500.
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| Realized $9,200 |
