1805/4 Draped Bust Half Dollar. O-103b, T-11. Rarity-6. Good-4 (PCGS).Deep steely-charcoal patina in the fields and recessed areas yields to lighter silver gray over the design elements are other raised features. This is the rare, so-called b die state of the 1805/4 Overton-103 dies, tentatively rated Rarity-6 in the Spring 2019 revision to Stephen J. Herrmans <em>Auction & Mail Bid Prices Realized for Bust Half Dollars: 1794-1839</em>. Herrman also notes that this die state is "controversial," as Steve M. Tompkins (2015) explains:<p><em>"The retained cud as S1 & S2 never becomes a full cud, but will look that way with wear. Therefore despite claims by many, lower grade examples can not be used to prove or disprove this fact."</em><p>Indeed, all coins that have been attributed as 1805/4 O-103b are in low grades, as here, the Herrman census topping out at VG-10. Examination of the present example will confirm Tompkins concerns, as heavy circulation has made the cud smooth, so there is now no way of knowing whether it was a retained or full cud when the coin emerged from the dies. An intriguing die state in any event, and always popular with specialists.From the E. Horatio Morgan Collection.
