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1802 H10C V-1, LM-1, R.5, AU53 PCGS. CAC. Amato-103....

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Description

1802 Half Dime
Sharply Defined AU53
A Classic American Rarity, V-1, LM-1
The Eliasberg-Bender Specimen

1802 H10C V-1, LM-1, R.5, AU53 PCGS. CAC. Amato-103. Ex: Woodward-Bender. The 1802 half dime in this lot is one of the memorable survivors of a date and denomination that has helped define many of the great collections in numismatic history. This example once resided in the cabinet of Louis Eliasberg, Sr., still the only numismatist to have assembled a complete collection of United States coinage.

Relatively few 1802 half dimes have survived the ravages of time. In order to determine just how rare these coins in fact are, Heritage cataloger and researcher, the late Dr. Jon P. Amato, compiled a population census of this important issue in 2017, in conjunction with our sale of this very 1802 half dime. He documented 31 separate specimens, 13 of which are in the Poor to Very Good level of preservation, nine in Fine and Very Fine, and nine in Extremely Fine and About Uncirculated. No 1802 half dimes are currently known in Mint State condition. Current estimates range from 35 surviving pieces (per PCGS CoinFacts) to as many as 50 examples, as suggested in Jeff Garrett and Ron Guth in their fourth edition of 100 Greatest U.S. Coins.
The 2023 Guide Book 1802 half dime mintage remains at 3,060 pieces, despite numerous studies that indicate a smaller amount was struck based on expected survival rates. We suggest a true mintage of about 1,000 pieces. A four or five percent survival rate would then put the extant population in the 40 to 50 range, more or less in line with current estimates. Only one die pair was used to strike all known 1802 half dimes. The Valentine reference describes this marriage as V-1, and Russell Logan and John McCloskey (1998) list it as LM-1. All known 1802 half dimes exhibit variations in design detail. Slight weakness is visible on the stars along the left obverse border, and some of the drapery lines are not sharply defined. The reverse, on the other hand, illustrates pronounced areas of weakness, along with some sharply defined design elements. Some of these include:

· Absence of the left part of cloud 4, and weakness in the remainder of the cloud.
· Absence of three of the 13 stars above the eagle.
· Absence of URIB on the scroll (though these letters show weakly on some XF and AU examples).
· Boldness of UNUM on most coins grading VG and finer.
· Weakness on the central horizontal stripes on the upper shield.


Virtually all known 1802 half dimes display these strike irregularities to one extent or another, and these characteristics should be considered when evaluating examples of the issue. This coin displays attractive cobalt-blue, lavender, and soft golden-gray toning throughout both sides. The design elements are sharply defined for an 1802, showing relatively minor weakness in the areas alluded to above. Liberty's hair is especially strong as are the right-side stars and dentils. The horizontal and vertical shield lines, the eagle's wing and tail feathers, and the stars are better defined than typically seen; even star 4 reveals a modicum of detail. The surfaces of each side are remarkably clean.

The most distinctive pedigree marker is a minute, as-made planchet void beneath Liberty's chin, which appears as a dot. We also note a faint linear mark on the chin, and a nearly imperceptible diagonal pinscratch on the upper shield are mentioned solely for identification purposes. This is a beautiful, impairment-free coin that will form the centerpiece of an early half dime set. To this day, ownership of a quality 1802 half dime is a mark of distinction not to be ignored when building an advanced collection. Population: 1 in 53, 2 finer. CAC: 1 in 53, 0 finer (7/22).
Ex: U.S. Coin Co. (4/1917), lot 215; Empire Collection (Stack's, 11/1957), lot 628; Louis E. Eliasberg, Sr. Collection (Bowers and Merena, 5/1996), lot 903.
From The Bender Family Collection, Part I.

Coin Index Numbers: (Variety PCGS# 38607, Base PCGS# 4268)

Weight: 1.35 grams

Metal: 89.24% Silver, 10.76% Copper

View all of [The Bender Family Collection, Part I ]

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Auction Info

2022 August 22 - 28 US Coins Signature® Auction #1348 (go to Auction Home page)
Auction Dates
August, 2022
22nd-28th Monday-Sunday
Bids + Registered Phone Bidders: 21
Lot Tracking Activity: N/A
Page Views: 1,430

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Numismatic Background and Census of 1802 Half Dimes: A Classic American Rarity
This 64-page book cites mintage and rarity estimates by prominent numismatists and documents the currently known 1802 half dime appearances. Each of the 32 documented examples includes an enlarged obverse/reverse photograph, the author's assigned grade, the provenance of each coin, auction prices realized or dealer fixed asking price, and a unique serial number for each specimen that will facilitate retrieval for research, cataloging, or price-information purposes. Reserve your copy of this remarkable volume for just $29.95 today.
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Sold on Aug 24, 2022 for: $456,000.00
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