1827 50C Square Base 2 VF35 PCGS....

 

1827 50C Square Base 2 VF35 PCGS. O-148, High R.6. Nearly all of the stars are recut on this obverse, that also appeared on O-131, 132, and 133. However, the obverse of this example is completely doubled, making the recutting of the stars difficult to see. The reverse has a tiny die dot just above the beak, and this reverse also appeared on O-143.
It appears from die state evidence that O-148 was struck after O-143, but before O-132, 132, or 133. The dot above the eagle's beak is small but clearly visible on this later die state piece.
Only a few new Capped Bust varieties have been discovered since the second edition of Overton was published in 1970. The 1827 O-148 is one of those new varieties, and today only about 14 or 15 examples are known in all grades. In a January 2001 article in the John Reich Journal, Russ Logan accounted for just 12 known pieces. The variety was discovered collector Dan Thornhill around 1972. The Frederick specimen was graded VF30 in Logan's Census, and listed in a sixth place tie
At least six of the survivors are double or triple strikes, the first strike being an obverse brockage. Such coins have a doubled obverse and a normal reverse, usually with some evidence of the incuse details from the brockage visible within the reverse details. The Frederick specimen is just such a coin with a clearly doubled obverse. There is no immediate evidence of the original brockage on the reverse of this example.
In the most recent edition of Auction & Mail Bid Prices Realized for Bust half Dollars, Stephen Herrman lists nine auction appearances and one private treaty transaction of 1827 O-148. A brief history of 12 known specimens (updated from Logan's Census) follows, with the Frederick Specimen offered here listed as number seven.

1. AU55 Southern California Coin Club show (1976); Elton Dosier; Sheridan Downey; New York collection.
2. XF45 Triple Struck Shaker Heights (Ohio) Coin Club show (10/1986); Charles Erb (12/1999); Russ Logan (Bowers and Merena, 11/2002), lot 2547.
3. XF40 1989 ANA; Richard Pugh (Superior, 5/1992), lot 1348; Gerald Schertz; Sheridan Downey (5/1994), lot 6; Donald Parsley. The plate coin in the third and fourth editions of Overton.
4. XF40 Dan Thornhill (1972); Floyd Farley (1986); Charlton E. Meyer, Jr.
5. VF30 Double Struck Charles Erb; Sheridan Downey (5/2001), lot 167; Sheridan Downey (5/2004), lot 219.
6. VF30 Mike Aaron (1983); Richard Pugh (Superior, 5/1992), lot 1347; Robinson Brown, Jr. (Sheridan Downey, 1/1995), lot 64; Illinois collection.
7. VF30 Double Struck The Frederick Collection specimen. Tarheel Coins (North Carolina, 11/17/1984), as part of an album set of half dollars. Don Frederick placed the high bid for the collection.
8. VF20 Double Struck Southern California coin shop (10/1996); Sheridan Downey (1/1997), lot 208; California collection; Sheridan Downey (8/2004), lot 15.
9. VF20 Sheridan Downey and Jonathan Kern (1995); Virginia collection.
10. VF20 Double Struck Sheridan Downey (8/1997), lot 138.
11. VG10 Discovered in 1990; Tennessee collection.
12. VG10 Double Struck Indiana coin shop (1/2000); Brian Greer; Sheridan Downey (2/2000); Florida collection.

This lovely light to medium gray piece has natural silver surfaces with a few handling marks consistent with the grade. The high points are lighter gray and a few flashes of light silver appear in the fields. Deeper iridescent toning gathers near the borders.
Ex: Tarheel (NC) Coins (11/17/1984).

1827 O-149 is not included in the Frederick Collection.
From The Donald R. Frederick Collection of Early U.S. Coinage: Bayside Part II. (#6144)

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