1853 Rays & Arrows Half - Your Judgment Please

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Mine will show up... I just know it.

 

Mcbrauns half would satisfy my need. I like well struck coins with nice detail. A little wear doesn’t bother me. And the whiter the better.

 

Here is my type set coin, which is in an NGC MS-64 holder. And yes, the rays on the reverse are quite impressive. The trouble is they made it harder to strike the coin and probably increased die wear. Therefore they were dropped in 1854 and '55.

 

There are a couple of NGC/PCGS in XF40/45 for about $350-450 on eBay right now, some of them CAC approved. None of them type set material and most have a darker skin though. Starting at AU53/55 they‘re getting more pricey...

 

Yes, EF is the jumping off point for price. That's why I bought the cleaned example I posted earlier. My grade at the time was EF-40, but I missed the hairlines.

 

Outstanding!

 

These do dramatically jump in price in the higher grades. I have several in the F-XF range now. I do want a nice slabbed example.

 

The mintage for the 1853 Arrows and Rays Half Dollar was a little over 3.5 million at the Philadelphia Mint and a bit over 1.3 at New Orleans. Those mintages were little above average for the period, but it seems that very few people saved these coins at the time. Therefore, the high grade ones are scarce and expensive. The fact that it's a one year type also drives up the price.

The mint system did face a challenge at the time. The gold strike in California had upset the price ratio between gold and silver. Therefore all of the silver coins that the mint had issued, previous to the 1853 silver coin weight reduction, melted for slightly more than their face value. The Arrows and Rays or just the Arrows indicated that the coin weighed less and therefore was not worth melting.

 

To digress just a bit, it's not just dealers, but apparently any/all sellers, period. Don't like it. I asked a trusted seller once a few year back if he knew who was watching or visited something on his site...he said no, he knew how many were watching and had visited, but not who. Maybe that has changed, but today it runs counter to the truth of your example and many of my own similar experiences.

 

I did finally do that. You know me. I was as polite a southern gentleman as there is. I believe the boy was a bit miffed with me. He has sent me three responses explaining to me the difference in cleaned vs. polished coins and how he should have kept the PCGS label when he cracked the coin out to prove to me it was only gently cleaned. But he would still love to sell it to me at the reduced price..... Understanding of course there are no returns...... Yep, this old boy has seen enough.

 

Randy, I don't know how you can reconcile your desire for a price point that corresponds to EF-40 or 45, a white coin, and the TPG guarantee of a straight grade. These seem to me to be somewhat contradictory.

I think if you really want a white coin, then you will have to buy a higher grade, say AU-55 or 58, that the TPGs will straight grade as an old gentle cleaning that is market acceptable.

Here is my type set coin that satisfies all your criteria except price. This was won in a GC auction Nov, 2019. The all-in cost was $1820 at a time when the Greysheet bid was $1940 and the CDN CAC Retail Price Guide was $2200.

Decent coins are out there but I think you may have to modify your criteria. Frankly, whenever I have "settled" for a coin because of price, I have regretted it. But whenever I paid up fairly for what I really wanted, I never regretted it. You know this drill.

Good luck with the hunt.

 

Very wise words. Thank you

 

Not worth doing.

 

I got a 1853 O Seated Liberty half dollar. I see no arrows at the date. Rays are present on the reverse. Opinions please.

 

Interesting..... Can you post a photo? There were a few known to exist without arrows, but it was a transitional error.

 

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Trying to figure out how to do that

 

You see the dialog box. That is where you type your message. Just below that box is an option to upload a file. Click that box and select your photo and it should show up in a thumbnail. Then click full size and post.