Lot 2707

Only a few very faint hairlines are present. Brilliant mirrored gray surfaces are overlaid with faint champagne and iridescent toning. Deeply mirrored fields with lightly frosted devices. In our catalogue of the Norweb Collection, we commented that this coin has virtually flawless brilliant surfaces, overlad by delicate champagne toning.

This variety has long been considered a restrike, however, if so, it could not have been struck any later than 1836. The edge is plain and the overall appearance is entirely unlike any other Capped Bust half dollar. There is no doubt this was struck with a closed collar although on a planchet with lettered edge originally intended as a regular circulation strike half dollar. When subjected to the high pressure required for coinage, the closed collar flattened the edge and literally crushed or obliterated the edge, thus today's popular name for these coins. It is interesting to compare this example with the 1832 O-123 Proof offered several lots earlier. There are many differences that suggest two completely different methods of manufacture.

This has a beaded border on both obverse and reverse. The reverse die is the same as was used for 1836 Overton 106 while the obverse was not used for any other Bust half dollars. The same is true of the 1834 and 1835 Crushed Lettered Edge coins.

Russ Logan was keenly interested in these coins, and prepared a report on his extensive study of the three different varieties, published in Volume 5, Issue 3 of the Journal. He considered all the technical aspects of this coinage along with provenance. His 20-page article about these coins is well worth re-reading today. He examined physical properties, striking characteristics, differences in dies, open and closed collar dies, emission order, and provenance.

The following is a current census of known examples of the 1833 Crushed Lettered Edge half dollar:

1. Smtihsonian Institution.

2. Pittman Collection. David Akers' sale of May 1998, Lot 1502; earlier from the Allenburger Collection.

3. Norweb Collection. The example being offered here.

4. Pennsylvania Cabinet. Earlier from Stack's sale of the Cox Collection, April 1962. Lightly circulated.

Russ Logan recorded just two other auction appearances, one in the 1895 Winsor sale by the Chapman brothers and the other in the H.O. Granberg sale of 1915.

From our sale of the Norweb Collection, November 1988, Lot 3105. Previously from Richard Picker, November 5, 1958.