1839 50C Small Letters XF45 PCGS....

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Exceedingly Rare 1839 Small Letters Half, XF45
Finest of Three Known

1839 50C Small Letters XF45 PCGS. JR-1, High R.7. Meyer Collection. This is the discovery coin for the variety, first identified by Maurice Rosen about 1972. It is also the finest known example of the extremely rare transitional die combination. It is surprising that so few have been found since its discovery more than 35 years ago. The variety is one of those "naked eye" varieties that can be spotted at a glance. The most recognizable feature is the reverse letters that are distant from the border. The normal 1839 Reeded Edge half dollar has the letters nearly touching the border.
While Stephen Herrman suggests that there may be five or six examples known, we can only trace three pieces, and the other two are in NCS holders. In addition to its status as the discovery coin and the finest known specimen, this example from the Meyer Collection is also the only piece known to us without some type of impairment.

The following roster represents the three coins known to us:
1. XF45 PCGS. The present specimen and the discovery specimen. First Coinvestors, Inc.; Julian Leidman; Charlton Meyer; Heritage (8/2008), lot 1689.
2. AU Details, Improperly Cleaned, NCS. Jules Reiver (Heritage, 1/2006), lot 23442.
3. XF Details, Environmental Damage, NCS. Julian Leidman; Stanley Scott (Bowers and Ruddy, 6/1975), lot 1387; Roy Harte Collection (Bowers and Ruddy, 11/1977), lot 2650; 1981 GENA Sale (Kagin's, 9/1981), lot 1133; Kagin's (3/1984), lot 1686; Southland Collection (Heritage, 5/2007), lot 2131; Stack's (1/2008), lot 495.

Light pewter gray surfaces on both sides are the canvas for delicate steel-blue, gold, and russet toning. A few faint hairlines and minuscule abrasions on each side are of little concern. The reverse strike is somewhat weak, as it is on other examples of this variety. Overall, it is an excellent piece, without peer in the numismatic world.
Inexplicable grooves on the reverse of this piece deserve careful study, as they are clearly a result of some event when the coins were made. On this specimen, two parallel grooves, spaced about 1 mm apart, are seen on the reverse from 9:30 to 12:30. On the Jules Reiver specimen, similar grooves are seen on the obverse, from 2:30 to 5:30, and on the Southland Collection specimen, they appear from 7 o'clock to 10 o'clock. Since all three known examples have similar parallel grooves, at different locations, it seems that they must have been part of the strip before the planchets were punched. However, they appear on top of the devices, so they were not obliterated when the coins were struck.
Ex: Maurice Rosen (First Coinvestors, Inc.); Julian Leidman; Charlton Meyer; Heritage (8/2008), lot 1689.
From The Joseph C. Thomas Collection.

Coin Index Numbers: (NGC ID# 2U29, PCGS# 6180, Greysheet# 6224)

Weight: 13.36 grams

Metal: 90% Silver, 10% Copper

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

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