Owner Comments:
This is a rare and important coin once thought to have had a mintage of 1,200. It is now believed that as many as 5,000--perhaps more--were struck, as opposed to over 3.6 million of this type dated 1837. As of March 10, 2022, NGC and PCGS have given a combined total of 624 pieces a numerical grade, with an additional 121 pieces given a "details" grade by NGC. These are the first half dollars struck in a close collar, to have a reeded rather than lettered edge, and struck by a steam powered press. Once considered patterns or trial pieces, they are now regarded as a regular issue, with most pieces known being circulated.
This piece is well detailed, perhaps lightly cleaned long ago, and now with light multicolored toning around the periphery of the obverse. As the coin only has traces of luster and obvious high point wear, I would have graded it Choice Extremely Fine (XF45) by the grading standards I learned years ago. However, the coin is a close match to the specimen used to illustrate the AU grades in the seventh edition of the ANA grading guide and the AU53 grade in the 2015 Deluxe Edition of the Red Book, so the lower range of the AU grade level is probably reasonable today.
I acquired this specimen at an online auction in March 2021. Photos courtesy of Stacks Bowers Galleries.