Feb. 16, 2001, The Benson Collection Part 1, Sale 8
Lot 1719
1794. Overton-101a,
Rarity-4. PCGS graded VF-30. This is the only "common" variety of
this date, all others range from extremely scarce to unique. This coin boasts
silvery gray toning on both sides, and an excellent strike. Adjustment marks
appear very faintly around the tail of the eagle, with a few crossing lines
noted in that area, none on the rims as usually seen. Only 23,464 were coined
for the year, and very few are found in high grades, most seen are in grades of
Very Good or below. Furthermore, these often are found with damage or other
significant problems, not so here, the surfaces are excellent and undiminished
by time. Luster remains near the devices, and we note the hair detail is
outstanding for the grade assigned.
Later die state, with the ever-present
crack from the rim near the first S of STATES to the eagle's wing, and another
crack through OF. This one is not quite in the condition census, but fairly
close to the lower end of EF-40.
Estimated Value $5,000-6,000.
Purchased 4/77 from Ed Hipps.
Lot 1720
1794. Overton-102,
Rarity-7. The Eliasberg Coin. PCGS graded Fine-15. One of the truly
rare coins of this important 1794 die variety collection. This one turned up in
the Louis Eliasberg Collection sold by Bowers and Merena in April 1997. The
Bust Half dollar condition census lists one coin that grades EF-40 of this
variety, then the census drops to F-12 with two specimens at that grade. This
one sneaks in just ahead at Fine-15 and stands alone as the second finest known
of the die variety. Outstanding quality for a 1794 half, this one has lovely
antique grayish brown on the obverse, a bit darker around the devices and
lettering, the reverse with faint bluish and amber tones deepest near the
devices. The obverse has some trivial adjustment marks, mostly on the right
side running horizontally. As to the reverse, the fields and surfaces are clean
and natural appearing. One tiny planchet impurity is noted at the end of the
wreath on the upper right side, through the three leaves above the right wing
of the eagle. A strong glass will note faint scratches but they are seen on
every coin of this era in circulated grades. An excellent coin for the grade,
and a foremost rarity in this state of preservation. This is the rarest
collectible variety of the 1794s, the others (Per Sheridan Downey) like O-108
(4 known), O-109 (unique), O-110 (five known) and O-111 unique being rarer.
Estimated Value $10,000-UP.
From Bowers and Merena's Eliasberg Sale
II, 4/97, lot 1661, and through various intermediaries.
Lot 1721
1794. Overton-103,
Rarity-5. PCGS graded VG-8. This one is probably at the bottom end
of the 6 coin condition census, the surfaces are very nice for the conservative
grade, and although the eagle is diagnostically weak, he is clearly visible to
the unaided eye. The peripheral lettering on the reverse is very strong. Medium
silver gray in color, with lighter silver shades on the devices. Seldom
offered, this rarity should command a nice premium over a common variety.
Apparently an early die state as the die has not cracked at the third star when
this one was struck.
Estimated Value $1,500-2,000.
Purchased from
Julian Leidman, 9/91.
Lot 1722
1794. Overton-104a,
Rarity-5. PCGS graded VG-8. This coin is probably about the tenth
finest known of the variety, but it is one of the better examples to show the
full reverse rim break above ER of AMERICA. The obverse break is noted at star
three, but it does not continue to Liberty's chin and star eleven. Well
balanced for the grade, with natural steel gray tones on the obverse, a dit
darker on the reverse, which also has some old encrustations attached to
several devices and lettering. Light adjustment marks extend through the eagle.
Splendid rims and surfaces for the grade, and while more common than some of
the other varieties offered of 1794, tough to find nice. A lovely example for
the specialist.
Estimated Value $1,500-2,500.
Purchased from Paul
Pritchett, 9/91.
Lot 1723
1794. Overton-105,
Rarity-5. PCGS graded Fine-15. This coin boasts original toning and
well struck devices. There are some very minor adjustment marks running
horizontally through Liberty's head near her ear. Struck before the reverse die
failed, which weakens the eagle at the central area, on this coin the eagle is
fully struck. Two shallow dull marks are located just above the third stars
outer point. To be extremely critical, there has been something expertly
removed from the right obverse field, as the surfaces seem to show slightly
more than the usual circulation disturbances. We suggest that a shallow scratch
was removed from the chin to the fourteenth star in this area, as remnants
remain and the surfaces have been smoothed there. Obviously, this work is very
minor, and few would bother to mention it, and the PCGS graders didn't seem
bothered by it either.
Once again, outstanding rims and devices for the
issue, which is seldom found at all, and nearly impossible to locate in higher
grades like this example. Don't be put off by the expert work done on this
example, such things are far more common on coins of this grade than most
people would dare to believe. This coin is certainly in the top six known, most
of which have problems or other detractions. An opportunity.
Estimated
Value $2,500-3,500.
Purchased from Sheridan Downey, 9/91.
Lot 1724
1794. Overton-106,
Rarity-6. PCGS graded VF-25. This is the fifth finest known of the
variety, just a notch behind a few others that grade 5 points higher. Excellent
steel gray in color and well struck. We note minor weakness at the center of
Liberty, mostly in and around her curls, and perhaps something was done in this
area as fine scratches can be seen with a strong glass. As with all early
coinage, great care must be taken during lot viewing to measure whatever faults
are noted, in order to arrive at an approximate value. We note that the silver
planchet shows roughness in its preparation. There are some trivial adjustment
marks on the reverse that run just left of vertical through the right wing of
the eagle. Wonderful rims and surfaces for the grade, examination will only
show minor handling scratches.
This one is an early die state struck
before the obverse die cracked through LI to the tenth star. Also, the reverse
die does not show the crack near the first S of STATES seen on all O-101
variety coins (which were struck later with this same reverse die). An
impressive example of this rare die variety! This sale offers the advanced
variety specialist a chance to purchase some extremely rare Condition Census
coins.
Estimated Value $5,000-6,000.
Purchased from Julian Leidman
in 1992.
Lot 1725
1794. Overton-107,
Rarity-5. PCGS graded Fine-12. This is the nicest example to be
auctioned in some time. It is tied with a few others at the lower end of the
Condition Census, with the best seen a VF-25, and another single VF-20 coin
below that. The next listing are the third finest known coins as Fine 12, which
includes this example. The surfaces of this are quite nice, but we note a
disturbance at the center of Liberty's hair, below and behind her ear where a
mark or some other detraction was removed. There is also a circular stain on
the back of Liberty's throat (this is not a silver plug) just below the center
point of the coin, and this is likely the result of something that was stuck to
the coin for years, like a small sticker. Faint adjustment marks can be seen
between the letters of LIBERTY, and there is a very shallow dull scrape up from
Liberty's head to the L. There are adjustment marks at the center of the
reverse, criss-crossing the eagle. Wonderfully free of rim marks or other
detractions, and with natural silvery gray toning, this coin is a delight to
behold and perfect for the variety specialist who wants a high grade condition
census example of the variety.
Estimated Value $3,500-5,000.
Purchased in March of 1992 from an unknown source.
Lot 1726
1794. Overton-108, High
Rarity-7. One of the Finest Known of the Variety. NGC graded VF-20.
This is one of the finest of only 4 known of this extremely rare variety.
The obverse die broke quickly with a heavy die crack from the rim near the 4 in
the date up through the last 4 stars, this crack must have terminated the
obverse dies use. As this variety was struck with the same reverse as the
common O-101 variety, it is worth noting that the O-108 die variety was struck
first, as there is no reverse die crack near the first S of STATES, this die
crack is present on all O-101 coins. The finest specimen is believed to be in
the collection of Robert P. Hilt II, who authored a controversial study
involving die group strength that was published in 1980. In that study Hilt
photographed a splendid example of this variety, which does not appear to have
the obverse die break. The coin he photographed must grade EF 40. The others
known are the coin offered in this lot, one grading Fine 12 plated in the 1993
Parsley-Overton Third Edition, and one other low grade specimen.
The
surfaces here are average for the grade, we note minor adjustment marks around
the obverse periphery, with a few minor adjustment marks in Liberty's hair near
her ear. Examination will note that the rims are clean, free of the usual
distracting bumps or bruises, and the fields and devices show typical handling
marks expected for coins of this era. Medium gray color in the fields combines
with lighter silver on the devices, giving good contrast to the coin. One of
the most exciting coins in this sale for an advanced numismatist to pursue, and
once sold, will likely not be offered again anytime soon. This is the first
(and only) auction appearance of this die variety and a foremost opportunity
for the advanced die variety specialist.
Estimated Value $10,000-UP.
Purchased in June of 1999 from an unknown source.
Lot 1727
1795. Overton-116,
Rarity-5. PCI graded VG-8. Medium silvery gray as usually seen for
the date. The rims are still separated from the lettering and stars.
Estimated Value $475-525.
Lot 1728
1795. Overton-132.
Rarity-8. One of two known of the variety. NGC graded VG-10.
Numismatists for the last 150 years have accumulated coins and medals in
America. Scholarly works began to appear in the late 1850s on die varieties of
United States large cents. Other denominations were studied, and two students
of the time, J. Colvin Randall and Capt. John W. Haseltine examined available
collections of the day and published a die variety reference on United States
quarters, half dollars and silver dollars, under Capt. Haseltine's name
(Randall apparently never forgave Haseltine for claiming the work as his
alone). The Haseltine work was the standard reference for these silver
varieties for about 5 decades. In time, collectors began to find new varieties,
and a new wave of updated variety books was published in the 1920s and later.
M. L. Beistle published an excellent work on half dollar varieties in 1929,
based on his own collection, the collection of David Proskey and Mr. E. H. R.
Green. The Beistle book stood as the standard reference until the 1960s, when
Al Overton published his own study of early half dollar die varieties, along
with subsequent revisions and updates. The Beistle book proved to be very
accurate, but lacked the plates of later varieties desired by
collectors.
One die pairing of 1795 half dollars proved to be very
troubling. Beistle noted on page 10 of his book under variety 1795 10 C that
..."This die variety is very similar to Nos. 1, 2 and 6. The last star point is
close to the end of the bust, and the first star and curl are in the same
position as on No. 2. This variety can readily become confused with No. 6, but
there is one very decided difference. On No. 6, E and R in LIBERTY are wide
spaced, and on this variety they are close spaced, and almost touch at the
base." Beistle goes on to say "Exceedingly rare; the only one I have seen and
believe it to be unique."
Beistle printed plates of the 1794 and 1795 half
dollars, as well as other selected varieties. Included in these plates is a
photograph of his 10 C variety, the coin he thought to be unique. Beistle's
1795 variety 10 C is important because his obverse 10 was not paired with any
other known reverses, while reverse C was used in 1795 to produce Beistle's 1 C
variety (Overton-101) which is extremely rare, with only 5 specimens known of
the B 1-C or O-101 variety. When Overton published his variety reference on
half dollars, he initially dropped Beistle 10 C as he could not locate a
specimen, and none of the half dollar collectors he knew had ever seen one.
Later, in his second 1970 edition, Overton included 1795 Beistle 10 C as
Overton-132, and used the same photograph to represent the variety that Beistle
has used.
In 1990, the Third Edition of Early Half Dollar Die Varieties,
1794 - 1836 was published by Don Parsley, updating the Overton reference
with a condition census and additional varieties discovered since 1970. Despite
years and years of dozens of collectors actively attributing bust half dollars,
no one had found the original Beistle 10 C coin, nor had anyone turned up
another example. Doubts had begun to form about the Beistle 10 C. Parsley
stated after the variety description of 1795 Overton-132 "If in fact, this
marriage exists, this piece may be unique. Any information the reader may have
would be welcome." Another decade passed, thousands and thousands of bust half
dollars were attributed, purchased and sold. Still no example of the 1795
Beistle 10 C (O-132) was located, despite the best efforts of the Bust Half Nut
variety collectors club.
The decades of speculation were finally laid to
rest in July of 2000, Southern California coin dealer Manny Acosta purchased a
1795 half dollar from a customer in his store. Acosta called half dollar
specialist Gary Beedon and asked him to help him attribute his new purchase.
Beedon and Acosta soon discovered that the new 1795 half dollar was an example
of Beistle 10 C, or Overton 132. To say the discovery was exciting is a serious
understatement. Not only did this coin confirm that O-132 did exist, but the
example found was different from the coin pictured in Beistle's book. To locate
a variety which has been unconfirmed for over 70 years is certainly the find of
a lifetime. For bust half dollar collectors, this is one of the most important
finds in decades.
As to the coin itself, it is generally untoned and
silvery-white in color. The obverse has typical marks expected for the grade,
but the rims and surfaces show no significant defects or circulation problems.
On the reverse, the unique berry combination 10 on the left branch and 9 on the
right quickly identify this as Reverse A (Overton) or C (Beistle). Note that
there are four berries on the lower right branch under the wing, both outside
berries are small and partially covered by the branch. Well struck by the dies,
this coin is quite pleasing for its moderate grade. The obverse die failed
quickly, with a strong die break through RTY of LIBERTY. So far as is known,
only two coins survived, one of which hasn't been published since 1929, and
this example. To say this is a foremost opportunity would be an understatement.
This is the opportunity to purchase this variety. Once sold, it may not be
offered again for decades unless the buyer from this sale decides to part with
it. No hint of a third example has been heard.
After reviewing the Beistle
reference, the cataloger (JMM) noticed a small but very important clue
pertaining to the Beistle 10 C coin. Beistle noted in his Foreword that his
collection was formed with the help of David Proskey and Mr. E. H. R. Green.
Beistle notes that through Proskey, Beistle was able to "possess and register
many of my rarest varieties, not a few of which came from his private
collection." It thus appears that Proskey sold Beistle coins for his
collection, including pieces from Proskey's own private collection. Although
Beistle did not auction his personal collection, some of the coins used in his
plates have turned up in half dollar collections, and it is likely that
Beistle's coins were sold sometime after his book was published in 1929
although the disposition of his collection was not published or auctioned.
Reading on Beistle continues in his Foreword as follows:
"This work
would not have been brought up to its present completeness had it not been for
my friend Mr. E. H. R. Green of South Dartmouth, Mass., who is an ardent
collector as well as an advanced student of numismatics. I am very much
indebted to Mr. Green for loaning me his entire collection of Half Dollars for
checking die varieties, which enabled me to make this work more complete than
otherwise. At the same time, it gave me an opportunity when making my plates,
to photograph some of his finest and rarest specimens."
My guess is that
Beistle did not own the example of 10 C, but that it resided in the Green
collection. Further evidence supports this in the fact that the plate for 1795
obverse 10 is dropped in seemingly as an afterthought, on page XXV after the
1796-97 half dollars. Note that all other half dollars plated are in date,
variety and letter order. Obverse 1795 10 is the one exception to proper
sequential ordering. Let me emphasize what Beistle says in the paragraph about
Col. Green. Beistle states that his book was "brought up to its present
completeness" by coins Green "loaned" him. Further, Beistle thanks Green for
allowing him to "photograph some of his finest and rarest specimens." As the
Beistle collection was apparently sold or broken up, yet the 1795 10-C has not
turned up, there is certainly a better than average chance that the coin used
in his book resides in the Col. Green collection. Based on the location of the
1795 Beistle 10 obverse in the plates, it appears that it turned up very late
in the publication process, and barely made it into the Beistle book. The Col.
Green collection was broken up in the 1940s, with some of the more important
coins sold directly to a famous mid west collector, where they remain to this
day. With no evidence to the contrary, it is likely that the long missing 1795
Beistle 10-C, Overton-132 coin is held in that famous collection today. This
would explain why the coin hasn't turned up in over 70 years.
Now at last, a
second specimen has turned up, the specimen offered here. Rumors of the demise
of Beistle's 1795 10-C were exaggerated, and at last all collectors will have a
chance to finally purchase this coin for their variety collections. When the
hammer falls, there will be one very happy collector who can finally knock this
coin off their want list, after decades of uncertainty and searching, the
existence of Beistle 10 C is finally solved.
Estimated Value $25,000-UP.
Purchased over the counter by Manny Acosta at his Southern California
coin shop July 25, 2000, and consigned to this sale.
Lot 1729
1802. Overton-101,
Rarity-3. PCGS graded EF-45. One of the finest graded of this rare
date, PCGS has yet to grade any as Mint State! In fact, only 5 have been graded
as EF-45, and 7 graded higher in various AU grades. This one has lovely umber
colors on both sides, with full and complete curls on Liberty, strong stars and
clean surfaces. Similar on the reverse, trouble free wear (what little wear
there is) and very well balanced. As a date, 1802 half dollars were not saved,
virtually all entered circulation and stayed there for years, with few today
known in high grades. If you are a date or variety collector, then you would do
well to purchase this lovely coin for your collection. This exact coin sold for
in excess of $4,200 to a collector a few years ago, and could be worth more
today. As a date, this is very under appreciated and downright rare in this
condition. Expect worthy competition to capture this prize.
Estimated Value
$3,000-4,000.
Lot 1730
1806. Pointed 6, stem
through claw. Overton-118, Rarity-3. EF-45. Earlier die state of the
reverse, with only a faint crack up from the lower rim to the arrows. Light
silvery gray surfaces and no doubt carefully cleaned in the past, still with a
hint of luster and well struck.
Estimated Value $500-700.
Lot 1731
1807. PCI graded
Fine-12 Scratched. There is a minor "X" scratched through the date.
Estimated Value $100-125.
Lot 1732
1807. Large stars, 50 over
20, 1823 and 1828. A small group of bust half dollars, all PCI graded as
follows: 1807 GD-4 Nicked Rim; 1823 VG-10 Scratched and 1828 VF-25. All
appear to have been cleaned, the 1823 has small minor pin scratches, and the
1828 is the best of the lot. Lot of 3 coins.
Estimated Value $75-100.
Lot 1733
1807. Large stars, 50 over
20. Overton-112, Rarity-1. AU-53. Gunmetal gray in color and with
lovely eye appeal throughout. Hints of luster near the devices. Cleaned long
ago, and the surfaces show wipe lines, as seen on virtually all circulated
coins of the period. Well struck and preserved, with the 50 over 20 feature
visible with a glass.
Estimated Value $1,000-1,500.
Lot 1734
1808. 8 over 7,
Overton-101, Rarity-1. AU-55. A scarce overdate in this high of
grade, this one boasts rose colored luster and light toning. There is a scratch
down Liberty's mouth into her hair, and another down her neck into her hair to
the rim. Well struck.
Estimated Value $600-700.
Lot 1735
1812. Normal date.
Overton-110, Rarity-1. AU-50. Steel gray in color and well struck.
Washed out from too many cleanings in the past, but the surfaces are defect
free and the coin shows little wear from circulation.
Estimated Value
$200-250.
Lot 1736
1814. Overton-105a.
Rarity-4. The "Single Leaf" variety. MS-60. One of the rare die
states that is extremely popular with collectors, this "single leaf" is the
result of die polishing to remove clash marks, which completely removed one of
the leaves from the upper pair on the reverse. Similar to the 1937-D 3 legged
nickel, which was caused by the same process. Dies often clash and become worn
as they are used. Further use often creates cracks, which extend from device to
device as the dynamics of striking pressure literally breaks apart the die. As
more coins are struck, the dies frequently clash together without a planchet to
soften the blow, and thus the dies impart their designs on each other (clash
marks) normally in the fields. This obverse die clashed so hard that the shield
lines are visible around Liberty's ear, but no trace of her ear is noted within
the shield lines.
This coin has some minor scratches above the eagle, and
trivial hairlines in the fields from a past cleaning. Delicate gold and blue
toning around the periphery, with abundant eye appeal on both sides. Don't miss
out on this rarity.
Estimated Value $700-1,200.
Lot 1737
1821. Overton-105a,
Rarity-1. VF-20. Some planchets streaks near Liberty's mouth and
into the field to the rim. Luster near the stars, and with red shades of color,
probably from a retoning.
Estimated Value $40-60.
Lot 1738
1822, 1827 and 1836
lettered edge. Each grades Good to Fine. The 1822 has a scratch down
Liberty and another on the reverse. Lot of 3 coins.
Estimated Value
$90-110.
Lot 1739
1823. Normal. Overton-107,
Rarity-2. AU-53. Sharply struck, in fact Liberty has a double
profile from her nose to her chest. Lovely antique blue and gold toning around
the periphery and with frosty luster in the fields. Minor handling marks, and
no problems whatsoever.
Estimated Value $275-350.
Lot 1740
1824. Overton-105,
Rarity-1. PCGS graded AU-58. Flashy luster and well struck, but flat
on the stars as usual. There is colorful peripheral toning on the lower
obverse.
Estimated Value $200-250.
Lot 1741
1830, 1837 and 1856-O.
These each grade EF to AU. The 1856-O has a repunched date up to the
right (Breen-4869). Each is a nice coin, good for a type set. Lot of 3 coins.
Estimated Value $200-250.
Lot 1742
1834. Large date, small
letters. Overton-107, Rarity-1. MS-61. Mottled gold and gray toning
in the fields, with loads of luster beneath. A touch weak on the eagle's wing,
but with clean rims and no handling problems which often plague this issue.
Estimated Value $300-350.
Lot 1743
1834. Small date, stars
and letters. Overton-121, Rarity-3. PCGS graded AU-53. With a small
drift mark in the planchet up in the field above Liberty's bust through the
second star. Frosty luster and nicely toned with gold around the edges. One
small mark at the base of the left foot of the N of UNITED. Flashy luster and
well struck, certainly one of the better coins known of this variety.
Estimated Value $150-250.