Collecting Liberty Seated Coins Dick Osburn 713-875-5860 rarecoins@dickosburn.com

1. Collecting Liberty Seated • Coins • Dick Osburn • 713-875-5860 • rarecoins@dickosburn.com

2. How’d I Get Here? • Began collecting in 1955 • Dad had typical coins in his top drawer • Indians, early Lincolns, a couple Morgan/peace dollars, a few foreign coins, one gold piece (he didn’t give me that one) • Collected Indians, Lincolns, Jeffs, Mercs, etc. • Only a very few quarters, halves, dollars • Couldn’t afford them

3. How’d I Get Here? • Dealing by 1958 (age 13) • Selling circulation finds at local shows • Limited buying for resale • Bought my first 1909-S-VDB that year • $35 for a F that was really a VG • Dad was convinced I was crazy • Grandfather encouraged me • Mom stayed on the fence

4. How’d I Get Here? • Slowly retreated from collecting and dealing during college years • Higher priorities • BUT – Subscription to Coin World has been uninterrupted since 1960

5. How’d I Get Here? • Re-entered collecting in the late 1970’s • Initially all series • Quickly focused on half dollars • Engineering analysis determined it was the easiest series to collect (at least it was the easiest one that I liked) • Narrowed the focus to seated halves in the early 1980’s

6. How’d I Get Here? • Really serious by the late 1980’s • Studied varieties and die marriages, but without much literature to help • Bought all the books I could find • Started my own reference spreadsheet for the series

7. How’d I Get Here? • Wiley-Bugert reference published in 1992 • Nearly 300 varieties of the 108 dates and mintmarks • I was hooked!

8. How’d I Get Here? • By 1995 my want list was large and I was “coin-broke” • Had 3 double row boxes of dups • It was time to start dealing again • Put a small ad in the Gobrecht Journal and started selling my dups

9. How’d I Get Here? • “Dick Osburn Rare Coins” began in 1995 • The timing was perfect - The business grew much faster than I could have ever predicted • A few small shows, then Baltimore in 1997 • Other national shows beginning in 1998 • Retired from NASA in 2003

10. Why Liberty Seated? • Challenging series! • Lengthy • 1837-1891 with lots of mintmarks • Lots of interesting varieties • Genuinely rare • It takes luck in addition to money to complete a set • Beautiful designs/ beautiful coins • Silver nuggets of early U. S. history

11. Collecting Options • In order of difficulty: • 1. By type only • 2. By date • 3. By date/mintmark • 4. By variety • 5. By die marriage

12. Liberty Seated Series • Half Dimes • Dimes • Twenty Cent Pieces • Quarters • Halves • Dollars • (Trade Dollars)

13. Ease of Collecting • 1. Half Dimes • Twenty Cent Pieces • Dimes • Halves • Dollars • Trade Dollars • Quarters

14. Half Dimes • Short series – 80 Red Book listings • 4 major types • Literature – Acceptable but not good • Wonder coins – 1 • 1870-S – Unique • Stoppers – None

15. Half Dimes • Expensive coins – 7 • 1846, 1853-O, 1863-67 P mints • Difficult to find dates – Very few

16. Half Dimes • Interesting varieties • 1840-O transitional reverse • 1848/8/7, 1848/7/6 • 1849/6, 1849/8 (controversial) • 1853, 1853-O no arrows • 1859 and 1860 transitional (considered patterns, not regular issues) • 1861/0 (controversial)

17. Twenty Cent Pieces • Only 7 coins total • Only one type • Literature – Virtually none • Wonder coins – 1 • 1876-CC – About a dozen known • Stoppers – None (2 are close)

18. Twenty Cent Pieces • Expensive coins – 3 • 1875-CC, 1877 (proof only), 1878 (proof only) • Difficult to find dates • All except the 1875-S • Interesting varieties • 1875-S – S/S and MPDs • 1876 doubled die reverse

19. Dimes • Long series – 125 Red Book listings • 5 major types

20. Dimes • Literature – Outstanding! • Gerry Fortin’s web book • Down to the die marriage level • Excellent pictures • Updated frequently • Free! • www.seateddimevarieties.com • Wonder coins – 1 • 1873-CC no arrows – Unique

21. Dimes • Stoppers – 1 (2 more close) • 1874-CC • Expensive coins – 7 • 1846, 1863-67 P mints, 1871-73 CC mints, 1885-S • Difficult to find dates – Many • S mints, a few others

22. Dimes • Interesting varieties • 1839 pie-shaped die crack – 4 known • 1841-O – transitional reverse hubs • Large and small mintmarks • Currently R6, R7 • 1873 doubled die obverse • 1859 transitional (considered a pattern, not a regular issue)

23. Dollars • Short – 45 Red Book listings • 2 major types • Literature – Virtually none • Wonder coins – 1 or 2 • 1870-S – 9-12 known • 1873-S – Unknown in any grade

24. Dollars • Stoppers – 4 • 1851, 1852, 1858 (proof only), 1873-CC • Expensive coins – The rest of the series! • Entry level is $200-300 • Difficult to find dates • All but about 10 common dates • Problem-free low grades are almost unavailable, even for the common dates

25. Dollars • Interesting varieties • 1851 and 1852 restrikes (proof only) • 1850 restrike (proof only, 2 or 3 known) • 1844 MPD and doubled die obverse • 1866 no motto (considered a pattern, not a regular issue. 2 known) • 1867 large/small date • Several MPDs

26. Trade Dollars • Short series – 33 Red Book listings • Only 1 major type • Literature – Virtually none • Wonder coins – 2 • 1884 – 10 known • 1885 – 5 known • Stoppers – None

27. Trade Dollars • Expensive coins – 6 • 1878-83 P mints (proof only) • 1878-CC • The rest of the series? (entry level is $150-250) • Difficult to find dates • All the CCs, 1875 • Problem-free low grades are almost unavailable, even for the common dates

28. Trade Dollars • Interesting varieties • 1876-CC doubled die reverse • 1875-S/CC • 1876 type 2/2 • 1876-S doubled die obverse

29. Quarters • Long series – 118 Red Book listings • 5 major types • Literature – Acceptable but not good • Larry Briggs seated quarter encyclopedia

30. Quarters • Wonder coins – 2 (3?) • 1842 small date (proof only, 5-7 known) • 1873-CC no arrows (5 known) • 1870-S • Unknown • An exampled is rumored to be in the cornerstone of the old San Francisco mint

31. Quarters • Stoppers – 3 1870-CC, 1871-CC, 1873-CC • Expensive coins – • 1842-O small date, 1849-O, 1852-O, 1853 no arrows (repunched date), 1854-O huge O, 1856-S/S, 1859-S, 1860-S, 1864-S, 1866, 1867, 1869, 1871-S, 1872-S, 1872-CC, 1873 no arrows closed 3, 1878-S, 1879-89 P mints

32. Quarters • Difficult to find dates • Too many to list • Many of those listed as expensive aren’t expensive in the price guides • 1856-S/S is probably the most under-rated coin in any seated series

33. Quarters • Interesting varieties • 1840 and 1843 large O’s • 1848 repunched dates (doubled and tripled) • No normal date examples are known • 1853/4 • 1854-O huge O • 1856-S/S

34. Quarters • Interesting varieties (concluded) • 1856-S/S • 1857 – reverse die clashed with a flying eagle cent die • 1866 no motto (considered a pattern, not a regular issue. 1 known) • 1877-S/S

35. Halves • Long series – 128 Red Book listings • 5 major types • Literature – Good to Outstanding • Wiley-Bugert Encyclopedia • Bill Bugert’s new series • Down to the die marriage level • Excellent pictures • S mint book is available, CC’s in June • O and P mints coming in the next 2-3 years

36. Halves • Wonder coins – 3 (4?) • 1842 small date, small letters – 3 known • 1853-O no arrows or rays – 3 known • 1866 no motto (considered a pattern, not a regular issue. 2 known) • 1873-S no arrows • 5000 mintage, but currently unknown

37. Halves • Stoppers – 3 • 1878-S • 60-75 known in all grades • $20k and up • 1847/6 • 1873 no arrows closed 3 • Expensive coins – About 2 dozen • 1850-52 P mints, 1852-O, 1855-S, 1870-74 CC mints, 1878-CC, 1879-90 P mints

38. Halves • Difficult to find dates – Less than a dozen • 1841, 1848, 1851-O, 1856-S, 1857-S, 1862-65 P mints

39. Halves • Interesting varieties • 1842 small and large dates • 1844-O doubled date • 1846 medium and large dates • 1846 over horizontal 6 • 1861-O Confederate die crack • 1866-S no motto (transitional type) • 1873 open and closed 3’s

40. Closing Thoughts • Get smart – Buy the books before the coins • Join the Liberty Seated Collector’s Club • Buy all the old collective volumes (5 currently available) • Limit your scope – Specialize in one series • Go for more than your budget can afford (it will take a long time anyway)

41. References • 1. Blythe, Al, The Complete Guide to Liberty Seated Half Dimes. Virginia Beach, Virginia: DLRC Press, 1992. • 2. Fortin, Gerry, seateddimevarieties.com. • 3. Briggs, Larry, The Comprehensive Encyclopedia of United States Liberty Seated Quarters. Published by Larry Briggs, 1991. • 4. Wiley, Randy; and Bugert, Bill, The Complete Guide to Liberty Seated Half Dollars. Virginia Beach, Virginia: DLRC Press, 1993. • 5. The Gobrecht Journal. Three times yearly publication of the Liberty Seated Collector’s Club. • 6. The Gobrecht Journal, Collective Volumes 1-5. Published by the Liberty Seated Collector’s Club. • 7. Flynn, Kevin, Two Dates are Better Than One, A Collector’s Guide to Misplaced Dates. Rancocas, New Jersey: KCK Press, 1997. • 8. Lloyd, Lloyd M., The Varieties of 1854 New Orleans Liberty Seated Half Dollars, Published by Mike Lloyd, 1998. • 9. Beistle, M. L., A Register of Half Dollar Die Varieties and Sub-Varieties. Shippenburg, Pensylvania: The Beistle Company, 1929. • 10. Breen, Walter. Walter Breen’s Complete Encyclopedia of U. S. and Colonial Coins. New York: F. C. I. Press, Inc. and Doubleday, 1988. • 11. Breen, Walter. Walter Breen’s Complete Encyclopedia of U. S. and Colonial Proof Coins. New York: F. C. I. Press, Inc. and Doubleday, 1977.

42. Seated Halves

43. Series Characteristics • Designer Christian Gobrecht • First official issue 1839 no drapery • Last issue 1891 • Mints Philadelphia 1839 - 1891 • San Francisco 1855 - 1878 • New Orleans 1840 - 1861 • Carson City 1870 - 1878 • Total dates/mintmarks 108 • Red Book listings 128 • Total varieties 306 in Wiley/Bugert reference • ~500 estimated • Total die marriages ~2500 estimated

44. Design Types • YEARType • 1. 1839-1866 With drapery, no motto • 1839 No drapery • 1839-1842 With drapery, small date/ letters • 1840 (O) Medium letter bust reverse • 1842-1866 With drapery, large date/ letters, • 1853 Arrows & rays, no motto • 1854-1855 Arrows only, no motto • 4. 1866-1891 With Motto • 5. 1873-1874 With arrows, with motto • Minor hub changes – 1858, 1876

45. Seated Half Rarity • By Date and Mintmark (all varieties included) • R7+ 3 known 1853-O No Arrows • 1842 small date small letters • R5 ~65 known 1878-S • R3 Less than 500 1851, 1852-O, 1870-CC, 1878-CC • 1871-CC, 1874-CC • R2 Less than 1250 1842-O SD, 1846-O TD, 1850, 1852 • 1855-S, 1856-S, 1857-S, 1866-S NM • 1872-CC, 1873-CC NA, 1873-CC WA • 1885, 1886, 1887

46. Seated Half Rarity • By Variety Value (XF) • Unknown 1880, type 1 reverse • Unique 1866, no motto (Actually a pattern, the DuPont coin) • 1 known 1877, WB-101, type 1 reverse • 3 known 1842, small date and letters $35,000+? • 5-7 known 1851, WB-104, 8 in denticles 5,000? • ~15 known 1877/77 type 1 reverse (Proof) 2,000 • 1875-S, WB-104, micro S 5,000 • ~30 known 1849/1849, WB-102, dramatically doubled date 5,000 • 1876-S, WB-103, tail hub variety 2 1,500 • ~50 known 1847/6, WB-102 12,500 • ~75 known 1873, WB-101, no arrows, open 3 9,000 • ~250 known 1844/1844-O, WB-103, dramatically doubled date 2,500

47. Seated Half Rarity • The “Not So Rare” • 1855/4 You can find one or two at any large show • 1845-O No Drapery Actually a die state, caused by polishing the die • (the 1839 ND is the exception) • Many other no drapery dates are available • 1846/horizontal 6 Spectacular, very visible varieties, therefore high • 1844-O doubled date priced, but not excessively rare • 1879 through 1890 Rare by mintage, but always available • Buy proofs for not much more than G-VG • 1885, 1886, and 1887 are rarer than the others • 1855-S Louisiana hoard dispersed about 10 years ago

48. Seated Half Rarity • Sleepers • 1842-O Large date Common date, but very hard to find • 1848 Moderate price, hard to find • 1851 Higher priced, but virtually unavailable • 1851-O Higher mintage, and common date price • Sought by date collectors due to scarcity of 1851 • 1852-O Price references around $100 in G/VG • Virtually unavailable in all grades • 1856-S, 1857-S As scarce as 1855-S, but at a fraction of the price • 1862 - 1865 Civil war issues disappeared • 1864-S Very underrated. Virtually unobtainable in AU - MS

49. Interesting Coins • 1840 “Medium Letters” reverse • Bust half reverse (obverse mintmark) used to strike an 1840-O seated half • Result - the “Medium Letters” no mintmark variety, which is actually a New Orleans issue • Early New Orleans die usage • 1845-O WB-108 • 1846, 6 over horizontal 6 • The 1861-O “Confederate” halves • Obverse die linked to real 1861 Confederate half dollar issued by the CSA • 1866 with misplaced digits (WB-103)

50. Cherry Picking (for fun and profit) • The Rules of Engagement • Cherry Picking is an honorable pursuit (NOT theft) • You worked hard for the knowledge - YOU EARNED IT!! • Most (but not all) dealers agree • Be courteous to a dealer’s other customers • Don’t hog the table • When you find something • Complete your search before asking for prices • Ask the price, then pay it or move on • If the dealer asks what you’ve found, tell him