1794 1/2C, BN MS(PCGS#1003)

Spring 2026 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

2009

Grade

AU55BN

Price

16,800

Lot Description

Manley Die State 3.0. Well struck and well preserved, one would be hard pressed to find a nicer lightly circulated Liberty Cap half cent. The obverse strike is particularly impressive, sharp and deep with a broad and fully denticulated border framing a bold portrait, full date and LIBERTY. The central obverse high point carries much of the wear that helps to explain the AU-55 grade from PCGS, as expected given the high relief of the portrait. The reverse is a bit shallower overall, as made, yet sufficiently bold with little actual wear and only minor softness at the letters AL in HALF and EN in CENT, as well as within the denticulation along the lower border. The thin cud break within the denticles before the digit 2 in the denomination that defines Manley Die State 3.0 is readily evident, despite some interference from one of the prongs of the PCGS holder. Lovely tan-brown and pale rose patina overall, the surfaces are hard and frosty with only tiny marks scattered about, most of which are original to the planchet. A small, faint spot in the right obverse field is of little concern other than serving as a useful identifier for provenance purposes.<p>The accepted mintage for this issue is 81,600 coins, achieved in five deliveries during early to mid 1794:<p>-February 22: 10,000 coins<p>-June 4: 16,000 coins<p>-June 26: 16,000 coins<p>-June 27: 16,000 coins<p>-July 8: 23,600 coins<p>After determining the die emission sequence, and also considering the number of coins extant, William R. Eckberg and Ronald P. Manley were able to ascertain exactly which die pairings were included in each of the deliveries for this issue. As published in Eckberg's 2019 reference <em>The Half Cent, 1793-1857: The Story of America's Greatest Little Coin</em>, C-7, C-8 and C-9 together comprise the 23,600 coins delivered on July 8. With approximate 750 survivors in all grades, Cohen-9 is an excellent candidate to represent the High-Relief Head <em>Guide Book</em> variety of the 1794 half cent in a type set. It is not, however, the most common variety of the 1794 half cent as once thought, for that honor now goes to the C-4 Normal Head. The two dozen or so high grade examples of the 1794 C-9 are split fairly evenly between About Uncirculated and Mint State grades. With its certified grade of AU-55 the offered coin is included in this group and will have no difficulty finding its way into another advanced collection.