1836 50C Reeded Edge PR64 PCGS....

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Remarkable 1836 Capped Bust
Reeded Edge Half Dollar, PR64

1836 50C Reeded Edge PR64 PCGS. The 1836 Capped Bust, Reeded Edge half dollars are the first circulation coinage made on the U.S. Mint's new steam press. Mint Second Engraver Christian Gobrecht prepared medal dies for the occasion dated Feb. 22, 1836 with the legend FIRST STEAM COINAGE. The demonstration failed to take place, however, and the dies were overdated with MAR. 23 over FEB. 22. On Nov. 8, 1836, Mint Director Robert Maskell Patterson sent 10 "specimens" (likely proofs) of the new steam-produced half dollars to Treasury Secretary Levi Woodbury, indicating that they were the "first specimens, struck this afternoon." The letter went on to say, "The old [half dollar] coins were struck in what we term an open collar; this is struck in a close collar, which make the edges of pieces thicker, and gives a mathematical equality to their diameters."
Adoption of the close collar, however, meant that lettered edges were a thing of the past, as the close collar would crush any edge lettering, as on certain 1833-35 Bust halves known with "crushed lettered edges."
Although Patterson's letter indicates that only 10 "specimens" were coined, a few pieces appear to have been struck off later, to judge by the certified populations today. It is almost certain, however, that fewer than 20 pieces survive in all grades.
The present PR64 piece is tied with seven others at PCGS (including two Cameos) for the title of finest numerically graded; NGC has also certified four PR64 pieces, with one PR64 Cameo and two PR65 pieces finer (2/09). In toto, there are 11 pieces certified at NGC and 14 at PCGS, but a generous allowance must be made for crossovers and resubmissions. This is a remarkably attractive example with natural electric-blue, lilac, and cream-gray toning, deeper near the edges of the coin. Light surface scratches are visible beneath the coloration, especially on the obverse, preventing a Gem assessment by PCGS. The fields are fully mirrored, and only slightly muted by the rich patina.
This piece represents an outstanding opportunity to obtain one of the most historically significant of all U.S. coins.
From The Joseph C. Thomas Collection.(Registry values: N10218)

Coin Index Numbers: (NGC ID# 27SM, PCGS# 6223, GSID# 6217)

Metal: 90% Silver, 10% Cooper
Weight: 13.36 grams
ASW: 0.38658oz

View all of [The Joseph C. Thomas Collection, Part One ]

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