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Lot
2197

1850 H10C MS68 NGC....

2009 April-May Cincinnati, OH (CSNS) US Coin Auction #1124

 
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Auction Ended On: Apr 30, 2009
Item Activity: 6 Internet/mail/phone bidders
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Location:

Duke Energy Center
525 Elm Street
Cincinnati, OH 45202

Description:
Astounding MS68 1850 Half Dime
1850 H10C MS68 NGC. Beginning in the earlier decades of the 19th century, silver and gold prices rose to levels that were higher than the intrinsic value of the bullion in the coins produced. As a result there was widespread melting of U.S. coins, culminating in extensive debate in Congress prior to passage of the Mint Act of 1853. This act reduced the amount of gold or silver in coins to levels that reduced the incentive to melt coins.
This 1850 half dime was produced during this earlier period when it was still profitable to melt U.S. coins, and predictably such pieces are rarely encountered. Even so, a few hundred pieces have managed to survive in the various Uncirculated levels. According to the two major grading services, however, none can compare to the superlative example offered here. Its heavily striated surfaces are virtually untoned, giving the coin an essentially as-struck appearance. Memorable quality for this or any other Stars Obverse half dime. Census: 1 in 68 , 0 finer (3/09).
From The Joseph C. Thomas Collection.(Registry values: N1) (NGC ID# 233F, PCGS# 4345)

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