1826 Capped Bust Half Dollar. O-102. Rarity-8- as a Proof. Proof-60 (ANACS). OH. An important numismatic rarity, as are all Proof Capped Bust half dollars irrespective of date or die marriage, this 1826 Overton-102 is earmarked for inclusion in a world class cabinet. The finish is well mirrored in the fields, which feature shines forth nicely through an overlay of rich, yet largely iridescent toning. Both sides are dressed in mottled sandy-mauve and steel-blue patina with underlying champagne-apricot, salmon-pink, powder blue and antique gold. Off-center swirls of near-brilliance are evident near the centers, accenting the soft satin texture that graces the design elements. The strike is expertly centered and virtually full, as befits the method of manufacture, and accuracy alone compels us to mention a touch of softness to stars 4 and 5 on the obverse and the very tops of the eagles wings on the reverse. All confirmed Proof strikings from these dies exhibits some degree of softness to the strike (see below), but all are clearly different specimens. Quite smooth in hand, certainly more so than one might expect for the assigned grade, a noncontiguous pin scratch from the tiny hair curl before Libertys ear into the field above the bust is the most useful provenance marker that we can offer.<p>Produced three decades before the United States Mint started marketing Proof coinage to collectors to a significant extent, the mintage of the 1826 Capped Bust half dollar in this format was not recorded at the time and, as such, is unknown. The total number of coins struck was undoubtedly extremely limited as, in the absence of a thriving numismatic hobby in the United States at the time, the Mint of the 1820s generally produced Proof coins only for presentation or other official purposes. Such pieces were also prepared on an as needed basis, Mint employees using whatever dies came most readily to hand to strike a few coins at different times throughout the year.<p>For the 1826 half dollar, only two die varieties have been positively confirmed to exist in Proof format. Walter Breen (<em>Encyclopedia of United States and Colonial Proof Coins: 1722-1989</em>) knew of only Overton-102, represented here, but in recent years four Proofs from the Overton-101 pairing have been certified by the leading third party grading services. Overton-102 is even rarer, as we have been able to positively confirm the existence of just three Proofs:<p>1 - <strong>PCGS Proof-64</strong>. Ex Ira Reed; T. James Clarke Collection, New Netherlands #47, lot 1258; E. Horatio Morgan Collection, acquired 1989; our sale of the E. Horatio Morgan Collection, November 2019 Baltimore Auction, lot 7151. This coin is the #2 specimen in the 1989 edition of Breens Proof coin encyclopedia. Its strike is not 100% full and there is appreciable softness to the end of Libertys bust, stars 1 to 5, 8 and 13 and, on the reverse, along the lower left and right borders, at the letters ST in STATES, and on the scroll at the letters PLU in PLURIBUS.<p>2 - <strong>PCGS Proof-63</strong>. Ex Signature Auction of October 2020, lot 3065. Softly struck in isolated areas around the peripheries, most notably at the end of Libertys bust and at the letters ST in STATES, which feature led the Heritage cataloger to suspect that this coin was the Reed-Clarke specimen listed above. Our offering of the E. Horatio Morgan Collection in November 2019 has enabled us to confirm that these two coins are, in fact, different specimens.<p>3 - <strong>ANACS Proof-60</strong>. Ex Superiors C.E. Gilhousen Collection sale, Part III, October 1973, lot 930; Superiors Dr. Charles L. Ruby Collection sale, Part III, February 1975, lot 696; Superiors L.W. Hoffecker Collection sale, February 1987, lot 3154; Superiors Worrell Collection sale, September 1993, lot 1279. <em><strong>The present specimen</strong></em>, listed as #5 in the Breen census.<p>A potential fourth specimen, lot 5600 in Heritages September 1996 Long Beach Sale, has not yet been offered through numismatic auction as a certified Proof. (The Heritage catalogers also mistakenly pedigreed that coin to the Ira Reed and T. James Clarke collections.)<p>The offering of all three confirmed specimens through auction since 2019 is highly unusual, and under normal market conditions opportunities to acquire a Proof 1826 O-102 half dollar are exceedingly rare. This may very well be a once-in-a-lifetime bidding opportunity for the advanced collector, and it is deserving of the utmost attention. PCGS# 6203. NGC ID: 27SF. From Superiors C.E. Gilhousen Collection sale, Part III, October 1973, lot 930; Superiors Dr. Charles L. Ruby Collection sale, Part III, February 1975, lot 696; Superiors L.W. Hoffecker Collection sale, February 1987, lot 3154; Superiors Worrell Collection sale, September 1993, lot 1279.
