Owner Comments:
The Logan-McCloskey reference book on half dimes reveals that the 1794 half dimes were struck from 3 different obverse and 3 different reverse dies combined into 4 different die marriages. They identify these as varieties LM-1 thru LM-4. After combining both PCGS and NGC attributions, 19% of survivors are LM-1, 25% are LM-2, 19% are LM-3 and 36% are LM-4. This coin is a LM-2 variety, easily identified as the right wreath branch ends in a double leaf. The other three varieties all have only a single leaf at the end of the right wreath.
The exact mintage of Flowing Hair Half Dimes carrying the 1794 date was not recorded in mint records, but was included in the 86,416 pieces produced in 1795. The mint's first shipment of Flowing Hair Half Dimes on March 30, 1795 consisted of 7756 coins carrying the 1794 date. LM-1, LM-2 and LM-3 varieties made up this shipment. After striking some 1795 dated coins, the mint again struck additional 1794 coins, the LM-4 variety, this time using a reverse die where the letter "F" in "OF" rests on a leaf. A developing die crack shows that the 1794 LM-4 coins were struck after 1795 pieces using the same reverse die were made. Based on the fact that 36% of all PCGS and NGC attributions are of the LM-4 variety, it is estimated that the total 1794 mintage was about 10,500 pieces or about 12% of all Flowing Hair Half Dimes. The actual survival rate of PCGS plus NGC graded coins is about 25% 1794 to 75% 1795. Probably a larger then normal number of 1794 coins were saved as souvenirs because they were the first year of issue. Also, the discovery in 1880 of a hoard of Flowing Hair Half Dimes containing about 100 mint state pieces, many of which were dated 1794, contributes to the skewing of the above estimate.