1852 Pattern Annular, or Ring-Form Gold Half Dollar. Judd-135, Pollock-162. Rarity-7+. Gold. Reeded Edge. Proof-66 (PCGS). CAC. OGH.Obv: The reverse design of the regular issue Liberty Seated half dime of the Laurel Wreath type, struck with a large central perforation so that only the legend UNITED STATES OF AMERICA and the base of the wreath and ribbon ends are visible. Rev: Blank except for denticulation around the border. A beautiful medium gold specimen with lively satin to semi-reflective surfaces. This is the only pattern type for a gold half dollar, the proposal for such a coin resulting from the disappearance of silver coins from circulation after the influx of immense quantities of gold bullion from the California gold fields into the world market. Since the gold dollar, introduced in 1849, proved popular, and silver half dollars were no longer seen in commerce by 1852, it was thought by some that a gold half dollar would find ready acceptance in circulation. In the end, however, the concept proved unfeasible and was dropped. The Mint did, however, produce a limited number of patterns in a rushed manner, as indicated in a letter dated January 27, 1852 from Mint Director George N. Eckert to Senator R.M.T. Hunter (quoted in Pollock, 1994):In reply to your letter of the 17th, I herewith enclose planchets of perforated or annulated dollars and half dollars in gold, with such rude designs as was possible without the construction of new dies. The planchets are rather lager, & the perforation consequently wider, than I think desirable for the piece, but we are limited by the time and means at our disposal, and have struck them with dime and half dime dies.Rare today, only nine to 12 specimens of Judd-135 are believed extant, just six of which are positively confirmed. Two of the confirmed pieces are impounded in the National Numismatic Collection at the Smithsonian Institution, leaving perhaps as few as seven pieces in private hands. This is the first example of the type that we have handled since offering this very same piece in our (Bowers and Merenas) Tower Hill Collection sale of September 1993 -- 26 years ago. An important rarity that is sure to see spirited bidding among astute pattern collectors.From the E. Horatio Morgan Collection. Acquired January 1994. Earlier from our (Bowers and Merenas) Tower Hill Collection sale, September 1993, lot 3090.
