Owner Comments:
O.101 R5. Tied for Finest Known.Holder states "Frederick Collection". Amazing luster for the variety with original surfaces toned tan and grey. Claims to an AU58 grade IMHO. Has obverse die crack thru stars on left. No other die cracks. From Charles Ruby Collection, Feb 11-13, 1974, Lot 1349. Tied with the Osborne specimen purchased as PCGS AU53 (now PCGS AU55) that is a white EDS that's slightly prooflike that he purchased from Sheridan Downey on March 10, 2011. This specimen was upgraded by PCGS from AU53 to AU55 on 10/29/2013. I obtained the coin from the Heritage Auction of the Frederick Collection on April 30, 2010, Lot 2933. Under bidder was the distinguished Dale Friend. Described by the Heritage cataloger as, "Census Level 1812/1 O-101 Half. Large Overdate, AU53. Low R.5. The obverse is the 1812/1 overdate with a large 8 in the date. The reverse has a stray serif at the bottom of the N in UNITED, described as recutting in Overton, but actually from an unidentified punch. Its location is incorrect for a recut N or an inverted N, unless the original punch was drastically out of position. The reverse die was also used for 1812 O-102, the Small Overdate variety.
This early die state piece has no evidence of die cracks, clash marks, or other die anomalies on either side. Later states exist, identified as O-101a. The 1812/1 Large 8 ranks among the most important half dollar varieties in the Capped Bust series. In addition to its Low R.5 rating, with only about 60 to 80 examples surviving, it is also an important Guide Book variety that further increases the demand. In the 1970 second edition of Overton, the O-101 and O-101a die states were listed as R.7, meaning four to 12 pieces exist. At the time of his purchase in 1974, Don Frederick considered this piece the finest known as did the catalogers of the Ruby Collection. Today this piece still ranks among the top two or three examples known. The large overdate variety was first published in a December 1969 New Netherlands mail bid catalog. The current Ruby-Frederick specimen could have been the discovery specimen, according to the cataloger for Superior in 1974 who wrote: "This could have been the discovery specimen had either its cataloguer or Dr. Ruby taken a close look at it; it came from the William P. Donlon collection, November 1956, lot 730, merely catalogued as an overdate." As a sign of the times some 36 years ago, the Superior cataloger also wrote: "Sharp enough that it is likely to be dipped and resold as 'Uncirculated.'" Fortunately, the buyer was Don Frederick, an avid collector and student of the series who preserved the coin exactly as it appeared in 1974. Both sides of this lovely piece exhibit sharp design details with slight traces of high point wear. Considerable luster is visible through warm gold, blue, and iridescent toning over silver-gray surfaces. Only slight handling marks are present on both sides. Ex: William P. Donlon Collection (Abe Kosoff, 11/1956), lot 730; Dr. Charles Ruby Collection (Superior, 2/1974), lot 1349. From The Donald R. Frederick Collection of Early U.S. Coinage: Bayside Part II."