1867 Liberty Seated Half Dime. V-1. MS-67 (PCGS). CAC.Awe-inspiring Superb Gem quality for this legendary rarity among Philadelphia Mint Liberty Seated half dimes. This is a beautifully toned coin, the peripheries ringed in iridescent reddish-orange patina that frames brilliant centers. An additional blush of cobalt blue toning adorns the right obverse border, further enhancing the eye appeal on that side of the coin. Fully prooflike in finish, the fields are reflective and contrast nicely with frosty design elements. Fully struck from the rims to the centers with virtually pristine surfaces and outstanding visual appeal. Produced during an era in which silver coinage was not seen in commerce in the East or Midwest, it is little wonder that the circulation strike 1867 half dime has a paltry mintage of just 8,000 coins. This is the lowest mintage issue in the entire circulation strike Liberty Seated half dime series of 1837 to 1873, which fact has long bestowed key date status on the 1867. The limited mintage caught the eye of 19th century numismatists, who set aside enough coins that this issue is actually a bit more obtainable in lower Mint State grades than one might suspect. Since this issue was not released into circulation at the time of striking, some Mint State coins may have been obtained from bullion brokers or banks during the early to mid Reconstruction era by those willing to pay the required premium in Legal Tender notes. It is more likely, however, that most such coins were acquired after silver and paper currency reached parity on April 20, 1876. After that date large quantities of half dimes were deposited in banks, allowing sharp-eyed tellers and numismatists the opportunity to acquire key date examples before these coins were sent to the Treasury for melting. While Q. David Bowers (2016) estimates that as many as 40 coins are extant in grades or MS-65 or finer, the vast majority of those are at the lowest level in that range. This issue has always been, and remains a formidable condition rarity in Superb Gem Mint State. The Gardner-Henry specimen offered here is the single finest known to both PCGS and NGC, an outstanding rarity and simply beautiful coin that would serve as a highlight in even the finest numismatic cabinet.<p>Writing in his 1931 reference on half dimes, Daniel W. Valentine identified two die marriages for the 1867 half dime, which Al Blythe (1992) asserts were each used to strike both Proofs and circulation strikes. The present example is readily attributable as Valentine-1 by the high and right placement of the date, the pendant left of the center of the digit 6. An additional diagnostic of this obverse is a short die scratch from the end of the pendant. The reverse of the 1867 V-1 has both ribbon ends free of the wreath. Although the pronounced reflectivity in the fields might lead some numismatists to conclude otherwise, this coin is an unmistakable circulation strike from these dies with a sharp obverse die crack from the rim, through the final letter S in STATES, to Libertys right shoulder. Low mintage circulation strike issues are often represented by prooflike coins, the press runs too brief to fully efface the reflectivity in the fields caused by die polishing. Light clash marks are also evident on the obverse at Libertys left shoulder, and the drapery around the left elbow has been largely polished away from the die.PCGS# 4390. NGC ID: 234L.PCGS Population: 1; 0 finer.<p>CAC Population: 1; 0.From the Henry Collection of Liberty Seated Half Dimes. Earlier ex Joseph OConnor, February 2004; Eugene H. Gardner; Heritages sale of the Eugene H. Gardner Collection, June 2014, lot 30209.
