HAWAIIAN 50C

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Description

Near-Gem Sandblast Proof 1928 Hawaiian Half Dollar with the Original Letter of Presentation

1928 50C Hawaiian PR 64 PCGS. Sailing on behalf on King George III, Captain James Cook made his fourth voyage into the Pacific Ocean in 1777-1778. Embarked on board the converted collier Endeavour, Cook's voyage acquired more territory for Great Britain than any single victory achieved by the mighty British Fleet. Although some historians credit the Spanish explorer Juan Gaetano, most accept the fact that Captain Cook discovered the Hawaiian Islands on January 18, 1778 during this voyage. Killed by Hawaiian natives on February 14, 1779, Cook has been forever immortalized on the 1928 Hawaiian commemorative half dollar.
Authorized by Congress on March 7, 1928, the Hawaiian commem was struck in honor of the 150th Anniversary of Captain Cook's discovery. The Philadelphia Mint struck limited numbers of both business strikes and proofs. Of the 50 sandblast proofs originally produced, many examples are currently impounded in museums. NGC and PCGS combined report only 19 examples in all grades, 12 of which grade PR 64 with 5 finer (9/99). This important example displays even, steel-gray patina with mottled lavender and gold undertones sprinkled throughout. The strike is markedly sharper than that on any business strike example and the mark-free surfaces exhibit a pleasing, matte-like appearance. This is simply a gorgeous coin from both technical and aesthetic standpoints.
The desirability of this coin is further enhanced by the rich numismatic history that accompanies it. Included with this lot is a letter from the Cook Sesquicentennial Commission that awards the present proof to Mr. Edward L. Caum, a resident of Honolulu. Written on August 22, 1928, the letter verifies that this coin is the 48th proof specimen struck out of the total mintage of 50 pieces. It reads:

The Cook Sesquicentennial Commission recognizing the valuable service you rendered in making the Sesquicentennial observance a success, hereby in the name of the Territory of Hawaii presents you with this token, a sandblast proof Hawaiian Half-Dollar, #48, of a total issue of fifty, prepared as a memento of one of the historical occasions of the Hawaiian Islands.

Born in 1908, Caum was an assistant botanist for the experimental station of the Hawaii Sugar Planters Association in 1927-1928. By 1933, he became a superintendent at the same station. His obituary appeared in local Honolulu newspapers on August 18, 1952. What this twenty year-old could have done to receive this special token of appreciation from the Cook Sesquicentennial Commission continues to be a source of amazement and speculation for us.
According to Superior Stamp & Coin, only one other letter like Caum's resides in collectors' hands. As of early 1998, Don Medcalf, author of Hawaiian Money--Standard Catalog, owned this letter. The Cook Sesquicentennial Commission prepared this other letter for proof specimen #2, although the coin no longer accompanies the document. As far as we know, therefore, this lot offers the only sandblast proof Hawaiian half dollar and original letter combination available to collectors. The lot also includes an article written about the Hawaiian Sesquicentennial half dollar in the August 28, 1998 edition of Coin World and a page from the Wes Rasmussen Sale (Superior, 2/98), from where the consignor purchased this lovely piece. An important opportunity not only for the advanced commemorative specialist, but also for the growing number of collectors who are fascinated by the study of Hawaiiana.
Ex: Wes Rasmussen Sale (Superior, 2/98), lot 3071, where it realized $24,000.

Coin Index Numbers: (NGC ID# BYN2, PCGS# 9310, GSID# 10315)

Metal: 90% Silver, 10% Copper
Weight: 12.50 grams
ASW: 0.3617oz
Mintage: 50

View Certification Details from PCGS