1853-O H10C No Arrows MS64 PCGS. CAC....

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1853-O No Arrows Half Dime, MS64
Rare in Mint State

1853-O H10C No Arrows MS64 PCGS. CAC. The changing price relationships of gold, silver, and paper currency in the 1850s are almost the exact opposite of those of the 1870s. In the 1850s the vast quantities of gold flowing from "El Dorado," the fabled gilded lands of California, created an oversupply and forced down the price of gold. The net effect was the same as an increase in silver's value, as reckoned in gold dollars or paper currency. The silver content of circulating coins exceeded their face value, requiring a reduction in silver content. In the 1870s, on the other hand, the price of silver fell as measured against other currencies, requiring an increase in the silver content of circulating coinage.
The silver minor coins of the early 1850s are much rarer than their original mintages might imply, simply because most were melted for their bullion content. In 1853 the Arrows and Rays design denoted a reduced silver content that made it unprofitable to melt those pieces.
The 1853-O No Arrows half dime is today an extremely difficult issue to find in high grades, and no more than a handful of examples are known in Mint State. The date is almost always quite weak on this issue, especially the 18, and the mintmark is a Large O that tilts slightly to the left. Many specimens show softness on the head and shield, but not on this piece. The head of Liberty and the shield are sharply detailed. Only the peripheral stars and the leaves in the reverse wreath show any softness. In MS64 this piece is one of four so graded at PCGS, and there is one finer (12/08). NGC has certified a lone MS64, with none finer.(Registry values: N4719)

Coin Index Numbers: (NGC ID# 233N, PCGS# 4352, Greysheet# 3816)

Metal: 90% Silver, 10% Copper
Weight: 1.34 grams
ASW: 0.04oz
Mintage: 160,000

View Certification Details from PCGS