Specializing in Liberty Seated Half Dollars Dick Osburn 713-875-5860 rarecoins@dickosburn.com

1. Specializing • in Liberty Seated Half Dollars • 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 • Dealing by 1958 • Lincolns, Jeff nickels, Merc dimes, etc. • Selling circulation finds at local shows

3. 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 • Total varieties 306 in Wiley/Bugert reference • ~500 estimated • Total die marriages ~2500 estimated

4. Design Types • YEARType • 1839 No drapery • 1839-1842 With drapery, small date/ letters • 1842-1866 With drapery, large date/ letters, no motto • 1853 Arrows & Rays, no motto • 1854-1855 Arrows only, no motto • 1866-1891 With Motto • 1873-1874 With arrows, with motto • Minor hub changes – 1858, 1876

5. 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

6. 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

7. 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

8. 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

9. 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)

10. 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

11. Closing Thoughts • Get smart - buy the books before the coins • Limit your scope - specialize • Buy a microscope • Series suggestions : • Low budget Type set • Moderate budget Date set • First and last year transitional set • Big bucks Date and mintmark set

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