1807 50C O-113a MS(PCGS#39360)

The Regency Auction 47

Auctioneer

Legend Rare Coin Auctions

Lot Number

31

Grade

MS65+

Price

108,688

Lot Description

Ex Pogue as listed on the insert. A fantastic O-113a, tied for FINEST KNOWN, and a truly stunning GEM! The first year of the Capped Bust series, designed by John Reich, is famous for having four different die pairings, each representing a distinct Red Book variety. The O-111 which marries a cracked obverse with the 50/20 reverse is known as the Beareded Goddes; the O-112 is the Large Stars obvese with 50/20 reverse; the O-113 is the Small Stars, and O-114 is the Large Stars. This GEM from the Byers and Pogue Collections is a Condition Census topper and PCGS TOP POP! The Small Stars name needs to be clarified. When John Kraljevich was cataloging this coin in the Pogue sale, noted, "overlays of the stars on this variety and others from 1807 reveal that the same punch set was used on this variety as on its Large Stars brethren. The stars appear slightly smaller by virtue of either lapping, a polishing of the die, or the depth of the initial strike of the star punch into the die face. Their relative size may be an optical illusion created by the smaller and more refined denticles and the greater distance between those smaller denticles and the stars themselves. Used only in the Overton-113 die marriage, the Small Stars obverse has been recognized as a major variety in the Guide Book for decades, and in Wayte Raymond’s Standard Catalogue for decades before that." Regardless, the O-113 variety was so rare that Walter Breen once remarked, "None seen Uncirculated." In an unbelievable state of preservation for an early Capped Bust half dollar. By this point in American financial history the half dollar was the largest silver denomination in circulation. Most of the mintages were used in commercial channels, and in the earlier dates, GEM Mint State pieces are exceptionally RARE. The present coin has a bold satiny luster under a rich, multi-layered original patina. Shades of gray, gold, olive, russet, rose, and slate-blue really come out when rotated in a light. The devices are generally very well struck, especially on the obverse that shows full, crisp definition to all of Liberty's hair curls, drapery folds, stars and dentils. The reverse is a touch more blunt in the center with the junction of the left wing and shield being somewhat soft. The later die state is defined by the die crack that connects the legend and the denomination on the left side of the reverse. The eye appeal is truly magical, especially on a type that rarely is seen above AU. Ex Stuart Levine; Martin Haber; Superior's session of Auction '89, July 1989, lot 612; Bowers & Merena's Rarities Sale, August 2001, lot 184; George "Buddy" Byers; George "Buddy" Byers' Collection, Stack's October 2006, lot 1014; Richard Burdick; D. Brent Pogue Collection, Part II, Stack's Bowers/ Sotheby's, September 2015, lot 2002; NFC; our consignor, via private purchase, August 2018. PCGS 2, NGC 0. In its last appearance, this GEM sold for $76,375 on an estimate of $50,000-$75,000 and today the PCGS Price Guide value is listed at $80,000. With NONE FINER, this is a real prize for anyone working on a first year of type set, date set of Capped Bust half dollars, or any other collection of really neat, sexy coins! Bid accordingly! Cert. Number 31694547 PCGS # 39360.00