THE ELIASBERG 1802 HALF DIME

The 1802 half dime in this lot is one of the more memorable pieces of Americana that we have had the pleasure of offering. It is one of only 40 or 50 examples thought to have survived to the present day. The majority of these are in the lower levels of preservation and/or have been impaired in one way or another. In our upcoming January 4 - 9 FUN US Coins Signature Auction in Fort Lauderdale, we are offering an outstanding example, graded AU53 by PCGS. This particular coin is the second finest known, and once resided in the cabinet of the legendary Louis Eliasberg, Sr., the only numismatist to have assembled a complete collection of United States coinage.

Numismatic researcher Davis Davis listed 167 appearances of this issue for the nearly 140-year period between 1859 and 1998, an average of about one appearance per year. This underscores the infrequent opportunity of acquiring this numismatic rarity, especially at this grade level and with this pleasing surface condition.

Relatively few 1802 half dimes have apparently survived the ravages of time. In order to determine just how rare these coins in fact are, that is, how many have survived to the present day and the grade distribution of surviving specimens, we are using Davis's study as a base upon which to compile a preliminary population census of this important issue. To date we have documented 31 separate specimens, 13 of which are in the Poor to Very Good level of preservation, nine in Fine and Very Fine, and nine in Extremely Fine and About Uncirculated. None are currently known in mint state. Twenty-three of the documented 31 examples (74 percent) exhibit one or more impairments.

Modern-day numismatists differ on the estimated number of 1802 half dimes that have survived to the present day. Walter Breen, in his 1988 Encyclopedia of U.S. and Colonial Coins, cites coin dealer James G. MacAllister who in 1935 claimed "he could trace 35, mostly in the Poor to VG range." Breen goes on to say: "Nobody has attempted a more recent comprehensive head count, but the probable number is somewhere between 35 and 45." Logan and McCloskey (1998), on the other hand, are doubtful of Breen's estimate. Their contention is that "not more than 35 genuine specimens of this date could be traced today." The emphasis that these authors place on genuine examples is significant, opining that "modern numismatists are cognizant of counterfeit pieces made during the 19th century by altering the date of other Heraldic Eagle half dimes." Jeff Garrett and Ron Guth in their 2015 reference 100 Greatest U.S. Coins estimate that 40 or 50 1802 half dimes have survived. Numismatic researcher and author Greg Reynolds, on the other hand, says of this issue in a recent (2012) CoinWeek.com post: "I am not convinced that even thirty-one survive."

To read the complete article, see:
Seldom Seen Selections: The Eliasberg 1802 Half Dime, a classic American rarity (https://coins.ha.com/c/newsletter.zx?frame=no&id=5138&ctrack=200071&type=more1-coin--news--tem112216#more1)

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