A 1795 SILVER-PLUGGED HALF DOLLAR

The early United States Mint practice of inserting silver plugs into half dollars and dollars to regulate their weights is perhaps one of the most romanticized techniques used to produce America's first coinage. It recalls an era of handcrafted workmanship and motivates today's collectors to examine their Flowing Hair coinage in the hopes of uncovering one of these surprises.

We are delighted to offer an important silver-plugged 1795 O-130 half dollar in our March 2020 Official Auction of the Whitman Coin & Collectibles Spring Expo in Baltimore. Recently certified for the first time at Good-6 (PCGS), it has been held in a private collection for two decades and is now appearing on the market for the first time in a generation.

This piece owes its existence to the difficulties faced by the early United States Mint in producing high quality planchets at the correct weight and fineness. In 1795, half dollars and other silver coins were made only at the specific denomination requests of depositors. Metal was refined, strips rolled out, and planchets made at the Mint, often slightly overweight so that they could be trimmed by filing. If they had attempted to achieve a precise weight, a generous portion would have been underweight and would have had to have been corrected. As it was, some were indeed underweight, as here. Mint employees used the silver plugging technique as a means of bringing underweight planchets up to standard. This process was not without precedent, having been used in other world mints at that time.

This experiment was first noted on 1795 Flowing Hair silver dollars, publicized after research conducted by Kenneth W. Bressett, Q. David Bowers and Roger W. Burdette. After continued study by specialists, that denomination appears to have been the primary target of the practice, as the vast majority of silver plug U.S. Mint coins are silver dollars. Most of these are 1795 Flowing Hair dollars, although the unique 1794 silver dollar with a silver plug (the celebrated Carter-Cardinal-Morelan specimen) points to an earlier attempt.

The silver plug technique was used far less often with half dollars. Surviving examples of this denomination are exceedingly rare and eagerly sought. In fact, we are aware of only four silver plug half dollars that are positively confirmed to exist, all of which are dated 1795.

The present example is the first silver plug half dollar that we have offered since our 2015 Baltimore Auction, where we sold an example from the 1795 O-128 dies for $49,937. Incredibly, an example of this type was missing from our November 2019 sale of the nearly-complete E. Horatio Morgan Collection of Half Dollar Varieties. The piece presented in our upcoming March auction was last offered in Sheridan Downey's Mail Bid Sale #24 of November 1999 and has resided in a private collection for the past two decades.

To read the complete article, see:
Rare Silver Plug 1795 Half Dollar Featured in our March 2020 Baltimore Auction (https://www.stacksbowers.com/News/Pages/Blogs.aspx?ArticleID=1795-silver-plug-march-2020)

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