1840 Second Restrike (Reverse of 1840), B-3, C-SR17, High R.6, PR65 Brown PCGS. Our EAC Grade PR60....

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Description

1840 B-3 Half Cent, PR65 Brown
Second Restrike, Reverse of 1840
From the Famous Alvord Collection

1840 Second Restrike (Reverse of 1840), B-3, C-SR17, High R.6, PR65 Brown PCGS. Our EAC Grade PR60. Equivalents. Gilbert-2; Empire-88; Cohen-SR17; Breen-3, BW-3.

Rarity. Various estimates place the total known in the range of 12 to 17 pieces.

Obverse 1. Christian Gobrecht's Braided Hair design for 1840 is described at lot 3129.

Reverse C. This reverse die, described above at lot 3121, appears on all of the proofs that are labeled "Second Restrikes."

Edge. Plain. The edge is squared with a high wire rim on the obverse from 11 o'clock to 4 o'clock.

Surfaces. The olive-brown surfaces combine reflective fields and satin devices with sea-green toning and considerable violet that is faded from mint red.

Die State (Sholley). The obverse has light rust with heavier pits and patches across the die. Breen's Reverse C, recently identified as a leftover reverse from 1854/55 based on the appearance of the berry stems below the first A in AMERICA and that one the lowest berry opposite H in HALF. The reverse has heavy rust patches below the C and on the top of E of CENT. Rusted areas below ED STA to the wreath below, around HA and the top of F in HALF, a path between AL and wreath, around most leaves in the wreath, and around most letters in the legend. Heavy rust pits are scattered around LF, NT and the adjacent wreath. Lapping lines are present across the die, predominantly on a 45° angle from lower left to upper right with another set on a 60° angle from upper left to lower right. This is the earliest state of Reverse C. Struck circa May 1867 when Henry Linderman returned as director.

Appearances. Illustrated at the PCGS Set Registry record of the McGuigan Collection. Plated in the Alvord catalog, the three Bowers and Ruddy catalogs, and the Robison catalog.

PCGS Population (6/2022). PCGS has certified 20 proof 1840 half cents that are identified as restrikes. Five of those are graded PR65 Brown, three are PR65 Red and Brown, and five have reached the PR66 grade level. Just four of the 20 submissions are attributed with the Reverse of 1840, graded PR65 Brown, PR66 Brown (2), and PR66+ Brown.

Commentary. Top examples of the 1840 Second Restrike half cents include the Clarke-Naftzger-Missouri Cabinet coin graded PR66+ Brown PCGS, the Norweb-Missouri Cabinet coin graded PR66 Brown PCGS, the Partrick coin that NGC grades PR66 Brown, the Eliasberg PR65 Red and Brown PCGS example, and the present piece from the McGuigan Collection.

In their Penny-Wise article, Sholley, Eckberg, and Dannreuther provide an emission sequence for the Second Restrike half cents based on die state evidence. They propose two striking periods for the 1840 issues. The present example is the first use of the reverse die, produced first among all Second Restrike half cents.

McGuigan Commentary. Choice iridescent olive-brown mirror surfaces.

Provenance. Ex: F.R. Alvord (S.H. Chapman, 6/1924), lot 193; Bowers and Ruddy (11/1976), lot 12; Bowers and Ruddy (1977 FPL); Bowers and Ruddy (11/1977), lot 2059; Ellis Robison (Stack's, 12/1982), lot 41; Silver Towne; Andrew Lustig (2/1987).

Personality. Leon Hendrickson, who founded the Winchester, Indiana coin firm, Silver Towne, was born at Union City, Indiana on October 5, 1926, and died at Winchester, Indiana on July 23, 2017. A U.S. Navy veteran who served from 1944 to 1946, Hendrickson began dealing in coins in the late 1940s, operating Winchester Coin Shop from 1949 to 1967, when Silver Towne was established. He has served as president of Central States Numismatic Society, Professional Numismatists Guild, and the National Silver Dollar Round Table. Hendrickson also had varied collecting interests and was an owner of the Dexter 1804 silver dollar.
From The James R. McGuigan Half Cent Collection.

Coin Index Numbers: (Variety PCGS# 35344, Base PCGS# 1253, Greysheet# 201960)

Weight: 5.44 grams

Metal: 100% Copper

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