“Complaints are made in some of the western papers, that half dollars are in circulation in that district of the country, from which six and a quarter cents at least have been clipped off. There are all ways of ‘raising the wind.’” — Poughkeepsie Journal, Poughkeepsie, New York, January 30, 1828 Very attractive dusky silver gray surfaces show golden overtones and peripheral reverse highlights of mottled olive and slate blue. Natural frost and cartwheeling luster are abundant on both sides, enlivening the nicely struck design elements. Most stars have their centers, though stars 1 through 3 and star 7 are a bit soft. The portrait and eagle show strong details nearly everywhere. No major defects are found, just a small number of trivial ones, like the scrape in the middle of star 7, some shallow hairlines across the bust, and a little mark beneath the wing at left. The dies have clashed, though the only apparent evidence is a single line atop the wing at left that echoes the top line of Liberty’s bust opposite it. Attributing any 1828 Capped Bust half dollar by variety begins with a careful examination of its date. There are three sorts of 2 punches used in the date, two of which have a curved or “curl” base, the other of which has a flat or “square” base. The Curl Base 2 type can end one of two ways within its top curlicue, either with a point, called the “No Knob 2,” or with a bulbous rounded end, thus called the “Knob 2.” The 23 different die varieties include five varieties with a Curl Base 2, No Knob; two varieties with a Curl Base 2 with Knob; and 16 more with a Square Base 2. Those 16 die varieties are further subdivided depending upon the size of the 8 digits in the date, two of which have large 8s, 14 of which have small 8s. The 1828 O-119 is a major variety unto itself, combining a Square Base 2 obverse with Small 8s with a Small Letters reverse. Among PCGS-graded coins, the Curl Base 2 No Knob designation is the second most numerous among the five major varieties of the year, trailing the Square Base 2, Small 8s, Large Letters variety. Two coins graded a fraction of a point better than this one, certified as MS-65+ by PCGS, represent the grading pinnacle of this type. When considering the O-102 variety specifically, this coin has a strong claim as finest known. Herrman cites no higher graded specimen than this one. Only two PCGS MS-65 examples have sold, one in the 2000 ANA sale (O-102) and another in the January 2011 Heritage sale (O-103), the latter of which sold as an MS-64 (PCGS) in 2010. Far more attractive and original than most Capped Bust halves in this grade, this piece is enhanced with superb luster and originality beyond what most gem examples of this date offer. Its special provenance also stretches back over a century to legendary numismatist William H. Woodin, who served for a brief time as Franklin D. Roosevelt’s first secretary of the Treasury. Woodin may have overseen the destruction of some of the coins described in the 1828 newspaper article atop this description. Worn and mutilated silver and gold coins, including those fraudulently diminished by clipping, were regularly recalled by the Treasury Department. In 1933, when Woodin oversaw the department, more than $3 million worth of half dollars were “withdrawn from monetary use,” according to the 1934 Annual Report of the Director of the Mint. This figure included pieces that had been worn smooth, as well as those victimized by petty thievery or “raising the wind,” a common 19th century expression most recognized today from an 1843 Edgar Allan Poe essay entitled “Raising the Wind; or, Diddling Considered as One of the Exact Sciences.” PCGS# 39755.
