My Half Dollar Type Collection

I just wanted to share my U.S. Half Dollar Type Collection.

I have been working on this collection for a few years -- and as some of you know, I have a passion for coins with interesting colors or toning patterns, so when I could find a colorfully toned example of a type, I made the leap.

I knew the Flowing Hair Half Dollar was going to be a stumbling block. The Flowing Hair Half was the first Half Dollar type minted in the U.S and was only produced for two years: 1794 and 1795. It sports the "Small Eagle" reverse, a design that Ben Franklin complained looked more like a turkey than an eagle. According to the Guide Book of U.S. Type Coins, only between 3,500 and 6,000 Flowing Hair Half Dollars remain in existence -- so this is a very rare type coin.

I never thought I would attempt to acquire this early Half Dollar; but then, last month, I saw a Good condition 1795 sell for a bit over $1000 at an auction. I mean it was ugly and torn up and didn't want to bid on it, but it peaked my interest.

When I started seriously looking for a Flowing Hair Half, I was surprised how many examples were really unattractive (with many having the look of being improperly cleaned or just beat up in general). I certainly never thought I would find a beautiful Flowing Hair Half that was colorfully toned, had eye appeal, graded by PCGS, and was at a price I could afford. So when I stumbled on this newly-listed PCGS-graded F15 Flowing Hair Half with an interesting green & reddish-tan coloration, I knew I had to pull the trigger, even if it did stretch my budget right to its limit.

In any case, this set is not a completed endeavor. I would still like to upgrade my Capped Bust Half (find one with some color) and find a more attractive Barber Half (it's hard to find a really pretty example for some reason) -- and I know I am missing a lot of "sub-types" -- but that's the fun of future hunting!

 

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I am very happy with my Flowing Hair and Seated Liberty -- both have great color and visual interest. The Seated Liberty was a difficult acquisition. This coin fired off at a live auction with a lot of motivated bidders and I ended up winning it (barely) at a 1.92x premium -- however it's very unique looking with a lot of visual appeal, so I didn't mind paying up. I was shocked though when the price kept shooting up in $100 increments every few seconds before the hammer fell. I wonder if this might be slightly undergraded and might actually be closer to a PF63, which could explain the spirited bidding.

The Draped Bust I bought from 900Fine (a CT member) for $350. That's my "best bargain" coin in the lot. I don't think I've ever seen a colorfully toned example of this type. Though there must be a few out there. The Capped Bust I bought for $355 from Bust-Half-Nut (an ebay seller).

I LOVE my Walker and Franklin. Both of those are a harder find than you would think for an attractive, colorfully-toned example. For the Walker I paid a sizeable 2.68x toning premium ($750, ouch), however this coin is the most beautiful WL I have ever seen (and might vie for the most beautiful coin, of any type, I've ever seen). The photograph was taken with my iPhone and does not fully capture the beauty of this coin. For the Franklin I paid a HUGE 4.25x toning premium ($152). The bidding was heavy and fierce -- however, I thought it was the most appealing Franklin I had ever come across, with visually striking, uniform 2-sided color, so I was willing to pay up for this. This coin just "pops" in hand.

The Kennedy was from my 2010 Silver Proof Set that I bought from the Mint on the cheap - they practically gave the coin away at the price the Mint was selling the 14-coin silver proof set ($58). The mirror on the Kennedy is a good 10" deep and I photographed it with a Redbook reflected in the field -- however I wonder if I should try to find a toned Kennedy as this coin is so silver in color that it looks like it doesn't belong with this grouping. A beautifully toned Kennedy is a REALLY hard find - you just don't see them very often.

Finally, I wanted to add that the Half Dollar denomination is my favorite for type collecting for a number of reasons:

1. half-dollar coins are large and details are easier to see with the naked eye
2. the largest size, one-dollar denomination coin had a lot of gaps in production (many missing years) so $1 coins always seemed like a "choppy" series to me
3. after 1978, they kept changing the size of the one-dollar coins, while half-dollar coins stayed roughly the same size from 1794 to date, so a collection of half-dollar type coins looks more tied together than one-dollar type coins (IMHO)
4. half-dollar coins provide more major types (I think the most, at 8? ... not sure about that)
5. the major (design) types are (for the most part) identical between the dime, quarter, and half from 1796 to 1916, so why not collect the largest version
6. half dollars are just on the edge of being a coin that circulates, so it's recognizable, while still being a little bit exotic
7. high-grade half dollars can be cheaper than dimes and quarters of the same type and grade because halfs didnt circulate (wear down) as much -- so more are available in high grades

Hope you all enjoy this little view!



P.S. I thought I would provide the estimated field population (coins remaining in existence) for all the major Half Dollar types -- these numbers were interesting. (Numbers were gleaned from the Guidebook of U.S. Type Coins)

Field Populations:

• Flowing Hair = 3,500 to 6,000 (very rare)
• Draped Bust = 11,000 to 15,000 (very rare)
• Capped Bust = 1.2 million+ (scarce)
• Seated Liberty = 1.5 million+ (scarce)
• Barber = 2 to 4 million (scarce)
• Walking Liberty = 100 million+ (common)
• Franklin = 100 million+ (common)
• Kennedy = 1 billion+ (common)

Based on these numbers, I think that the real bargain coin here is the Draped Bust. Notice how the field population falls off a cliff between the Capped Bust and Draped Bust type. The DB is in the numismatic sweet spot: RARE (about 100 times rarer than the CB) AND RELATIVELY CHEAP (about 3 to 10 times less expensive than the ultra-rare FH).

I think anyone that doesn't have a Draped Bust, with a couple of hundred bucks to spare, should try to pick up a lower grade example. You should be able to find a PCGS-graded F12 for around $350 ... and VG08 around $200. With a field population of less than 15,000 --this could be one of the great numismatic bargains in existence today. The Draped Bust (Heraldic Eagle reverse) was only minted for 7 years between 1801 and 1807. You aren't really spending that much and you are getting a 200+ year old coin that is just dripping with history (who knows Thomas Jefferson himself may have had the coin you buy in his hand) and has an extremely low population for the entire type.

Here's one firing off Sunday night for those interested (current bid a bit over $200):

http://cgi.ebay.com/1807-PCGS-VG08-Draped-Bust-Half-/280691306109

 

Very nice like the presentation.
Have you looked at the PCGS registry half dollar type set it shows a lot more of the sub types.

 

No, I havent! Thanks for the tip. There are a LOT of subtypes.

 

The eagle they had modeling in the 1790s sure was scrawny.
I like the 1862 piece. It looks nothing like mine.

 

Thanks for sharing!!!!!!!!!!!!!!!!!!!1

 

They sure do mine are mostly lower grade than yours and not as nice of toning.

 

Beautiful set you have , love the 1795 . Great presentation too .
Rusty

 

that franklin is a beaut

 

Well done!
And that's what I like about type sets.
You can define them any way you wish.

I personally use the NGC Registry as my guide.
The have 16 varieties of half dollars listed through 1964.
I currently have 14 of them with a reasonable shot at a 15th (a 1795 Flowing Hair like yours).
As for the 16th (Draped Bust/Small Eagle Reverse/1796-1797), well, I'm just going to forget about that one.

 

Winged Guy, you take them pics with a camera phone? I just can't get over the quality of presentation. Exquisite set. I'm most jealous (and at the same time, happy) of (for) you.....

 

Very nice, love the Seated and Barber half!

 

Thanks for all the comments!

sodude, yes that really is a scrawny eagle! It's more like a pigeon or something.

calum, yes a nice frankie was hard to find. I've looked through archives of thousands before I stumbled on that beauty last weekend.

kanga, you have 14 of 16 varieties ... that's fantastic!!! yes, the small eagle draped bust is basically an unobtainable coin. The field population is between 225 and 325 coins. Talk about low -- I'm sure it's a rare event just to see one for sale!

green18, yes my little iphone does a pretty good job. however i have to take about 20 shots to get one good one. my biggest problem is shaking since I am holding the coin in one hand and the iphone in the the other hand -- and trying to push the shoot button with my thumb. it's hard not to drop everything! My best shots are right next to a big south facing sliding glass door in cloudy weather ... or very early before the sun gets too high (and glare becomes a problem). I bought a copy stand with two 100W GE reveal light bulbs, but the photos I have taken with that have been lackluster at best. I can't seem to beat sunlight for taking pictures. I took all the photos of these coins EXCEPT: the 1862 Seated Lib, 1893 Barber, and the 1963 Franklin (those 3 coins are using the sellers photos). The other 5 coins in my set were shot with my 3 year old iphone. I usually try to take my own pictures of all my coins (just for the practice) but havent gotten around to those three -- however the photos of those are pretty accurate as they look like the coin in hand.

 

You're workin' too hard with that danged I-phone WingedLiberty. Take it easy on yourself and get a real camera.....


[walks away muttering, 'I'm just amazed at those photos"]

 

Yep, it can be a toughie... though I must say that's a mighty fine piece for F15.

Interesting side note.... in spite of a surprisingly high mintage for these 1795 halves, the most "common" die variety is an r.3 . Not too shabby; in fact, a bit scarce. There are quite a number of die marriages for these little sweethearts.

 

Oh heck yeah. Amongst Draped Bust silver, the half is BY FAR the best value. I'm totally bullish on 'em. Love 'em.

Excluding 1804, when production lapsed for some reason. Thus, there are 6 years of mintage. 1801 and 1802 are notoriously tougher, while the 1806 is far and away the easiest to find in all grades.

 

Nice set you got going. I think you're being a little picky with that Barber, I like it.

 

Hey 900Fine! I added a little blurb in post #2 that I bought the DBH from you. By the way, I think I remember you telling me many draped bust halfs were shipped to france to help pay for the Louisiana Purchase, but I havent been able to find any references on that. Do you know of any books or web references that talk about that? I think it's really interesting and would like to find out more. Also where do you find out about the die varieties?

D.T.Menace, yes you are probably right. To think that I could complain about a proof. However the coin is a little bit lackluster in hand (especially when compared to many of the others).

 

Thats a beautiful collection, thank you for showing it to us!

 

every single one of those coins are amazing, I LOVE the color on the Walking Liberty Half, and the Franklin. Amazing Collection