Bill Jones' Type Set
50c CAPPED BUST, LETTERED EDGE 1807-36


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: HALF DOLLARS - CAPPED BUST, LETTERED EDGE
Item Description: 50C 1833
Grade: PCGS MS 63
Owner: BillJones
 
Winning Set: Bill Jones' Type Set
Date Added: 6/30/2007
Research: See NGC's Census Report for this Coin

Owner's Description

The Capped Bust half dollar was the first coin that assistant mint engraver, John Reich, designed. It was said by some of his detractors that the lady on the obverse was patterned after his “fat mistress,” but no one has even proven that. Reich “signed” the dies that he made by placing a small to medium sized notch in an arm of the 13th star on the obverse. When Reich left the mint in 1817 this feature disappeared. <br /><br />Reich came to the U.S. from Germany as an indentured servant. At the time of his hiring in 1807 he was the most talented die sinker in America, but he was not a popular person at the U.S. mint. Chief mint engraver, Robert Scott, resented his presence and made life as miserable for him as possible. Reich was hired at a salary of $600 per year, which was low, even in that day, for an engraver with his skills. Though his 10 year career at the mint, he never received a raise or a promotion. <br /><br />These coins are often found in grades of VF or better because many of them saw limited circulation. Through out the 1820s and ‘30s banks used these coins for their reserves. Therefore large numbers of these pieces remained in bank vaults out of circulation. As these vaults were opened and cleaned out many of these coins came to light. <br /><br />Still Mint State examples, such as this piece, are scarce. Despite the fact that many of these coins saw limited use, many pieces did come in contact other coins while they were stored in bags. This resulted in wear which lowers to grade of most pieces to AU or lower.

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