Owner Comments:
The 1824 half dollar, shown on the left is that coin that is included in my NGC type set. The 1807 half dollar on the right, is an example struck from one first dies John Reich made for the half dollar. The design is basically the same, but the devices are slightly different.
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 ever 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.
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. Throughout his 10 year career at the mint, he never received a raise or a promotion.
These coins are often found in grades of VF or better because many of them saw limited circulation. In 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.
Still Mint State examples, such as this piece, are scarce. This coin is a very nicely toned 1824 Overton 110. It has attractive multi-colored toning with strong luster. The variety is rated as an R-2.