1838 Capped Bust Half Dollar. Reeded Edge. HALF DOL. GR-4. Rarity-1. MS-65 (PCGS). Here is an amazing Gem Mint State example for this brief subtype within the Capped Bust half dollar series. Beautifully toned, both sides exhibit splashes of powder blue and pinkish-rose iridescence to a base of equally vivid golden-apricot. The surfaces are intensely lustrous with a delightful satin finish. The dies imparted razor sharp to full striking detail to virtually all elements of the design. As smooth and inviting as the day it was coined, type collectors with an eye for quality and aesthetic appeal would be wise to pursue this offering with vigor.<p>In 1838 the half dollar was subject to additional design modifications that followed on those made in 1836, when the Mint adopted a steam powered press and close collar for production of this denomination. This time the reverse design was modified to read HALF DOL., likely to bring it more in line with the quarter. The design was replaced in 1839 by the highly successful Liberty Seated design. This series is notable as being the first coins ever struck at a branch mint when 20 Proof half dollars rolled off the presses at the newly opened New Orleans Mint, creating one of the most desirable rarities in American numismatics. At the Philadelphia Mint, 3,546,000 half dollars were struck in 1838 and additional examples were produced in 1839. Since silver dollars were practically unknown in everyday commerce aside from Spanish-American dollars, the half dollar was one of the preferred silver coins for banks to hold in vaults, usually in large bags, resulting in coins that have bag marks and scuffs. As with many of the half dollars from the period, the 1838 is available with relative ease through the lower end of the Mint State scale, but is seldom found above MS-63. Due to the brevity of the design, both half dollar enthusiasts and type collectors seek out particularly nice examples, creating continual pressure for the few remaining Gems. An assemblage of Gem Mint State half dollars from 1836 to 1839 showing the transition from the Capped Bust to the Liberty Seated design would be most impressive and a worthy challenge for the advanced numismatist.<p><p> PCGS# 6177. NGC ID: 24G5. PCGS Population: 10; 7 finer (MS-66 finest).
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