Circulated Half Dimes by Design Type

A type set of circulated half dimes is historically important, interesting and not really hard to assemble. Background information about half dimes is provided in an introduction to half dimes. As was explained therein, there are nine design types of U.S. half dimes.    

The theme here is to demonstrate that it is easy to build a type set of circulated half dimes. Examples of coins that sold publicly are cited to provide general ideas about costs and availability.

1795 Flowing Hair Half Dime

For the purpose of building a type set, it makes sense to seek a 1795 Flowing Hair half dime rather than a 1794. They are of the same exact type, and 1795 half dimes are less scarce and less costly. 

In August 2018, at an ANA Convention in Philadelphia, Heritage auctioned a CAC approved, NGC graded VF-20 1795 half dime for $2880. In August 2019, at an ANA Convention in Illinois, Heritage auctioned a CAC approved, XF-45 grade 1795 for $5760. This is a result around the wholesale-retail border, a little closer to a wholesale level than to a retail price. 

The unpredictability of auction prices is part of the fun of auctions. Auction prices will vary even when market levels remain the same.

Draped Bust and Circulated Capped Bust Half Dimes

Among Draped Bust, Heraldic Eagle half dimes, only the 1800 is not rare. All the other dates are each truly rare, in all grades. A date is absolutely rare if fewer than five hundred survive, including all die varieties. After the 1800, the 1803 ‘Large 8’ is the least rare. I estimate that around 450 survive including coins that have been mutilated or severely cleaned. 

On January 26, 2020, GreatCollections sold a CAC approved, PCGS graded VF-20 1800 for $2986.88. This is of the popular variety for which the ‘R’ in LIBERTY is malformed such that it appears similar to a letter ‘K.’ On August 15, 2018, Stack’s-Bowers auctioned a CAC approved AU-58 grade 1800 half dime of this same ‘LIBEKTY’ variety. That coin realized $8400. On October 27, 2019, GreatCollections sold a CAC approved VF-30 grade 1803 ‘Large 8’ half dime for $3881.25. 

Circulated Capped Bust half dimes are plentiful. For several dates in the series, the CPG-CAC retail price estimate for a VF-30 grade coin is $156 and the estimate for an XF-40 grade coin is $228.

Liberty Seated, No Stars, No Drapery

Of the Liberty Seated, No Stars type (1837-38), there are only three dates: 1837 ‘Large Date,’ 1837 ‘Small Date’ and 1838-O, which is the key. While the 1837 ‘Small Date’ is scarcer overall than the 1837 ‘Large Date,’ they are about equally scarce in grades from VF-30 to AU-53. Either may be a low-cost selection for a type set. 

In April 2017, Stack’s-Bowers auctioned a CAC approved VF-35 grade 1837 ‘Small Date’ half dime for $199.75. On March 5, 2020, GreatCollections sold a CAC approved AU-55 grade 1837 ‘Large Date’ half dime for $468. 

For the Liberty Seated, No Stars, No Drapery type, the Philadelphia Mint issues are not rare. In VF-20 grade, one would be likely to retail for less than $50. In Good-04 grade, a retail price would usually be below $20. It would not be cost-effective for a dealer to submit a coin worth $15 to $20 to PCGS or NGC. On May 15, 2019, Stack’s-Bowers sold a CAC approved, AU-58 grade 1839 half dime for $240.

Liberty Seated, With Drapery, Arrows

Of the Liberty Seated, With Stars, With Drapery, No Arrows type, a Fine-12 grade coin could be obtained for less than $22. While there is much risk involved in buying uncertified coins, a sum of $20 is not a great amount for a silver coin from the middle of the 19^th century. Even if a collector was misled into paying $20 for an apparent Fine grade half dime from the 1840s that was holed and repaired, such a holed and repaired coin might still be worth a few dollars.    

An appealing VF-20 grade ‘With Drapery’ half dime from the 1840s could be purchased for less than $30 and an XF-40 grade coin for less than $65. During the summer and autumn of 2020, the CPG-CAC price guide value for 1841, 1843, 1845, 1847, 1848 ‘Medium Date,’ 1849, 1850, 1851 and 1852 half dimes in AU-50 grade was $143. For each of these dates, however, CAC has approved one coin or zero coins as AU-50. 

When building sets, it usually does not make sense to focus heavily on one grade-level. It is often logical to mix Very Fine, Extremely Fine and AU grade coins in the same sets. 

On December 29, 2019, GreatCollections sold a CAC approved AU-58 grade 1842 half dime for $192.49, perhaps a wholesale-level price. On November 26, 2017, GreatCollections sold a CAC approved AU-58 grade 1847 for $241.88. 

For the 1853-55 ‘With Arrows’ type, many Good-04 to VF-20 grade raw (not encapsulated and not certified) half dimes could be obtained for less than $25 each. As a certified AU grade coin does not cost much more than a raw Extremely Fine grade ‘With Arrows’ half dime, it may be advantageous to buy a PCGS or NGC certified AU grade coin. 

On April 5, 2020, GreatCollections sold a CAC approved AU-58 grade 1853 ‘With Arrows’ half dime for $186.75. On May 26, 2020, Heritage sold a different CAC approved AU-58 grade 1853 ‘With Arrows’ half dime for $198. On June 10, 2020, Stack’s-Bowers sold a CAC approved AU-58 grade 185 4 ‘With Arrows’ half dime for $156. Among coins of the same date and type with the same certification, eye appeal or originality may play a role in attracting bidders.

Liberty Seated Half Dimes, Legend on Obverse

For the last type of half dimes, which date from 1860 to 1873, there are many common dates. In grades below VF-30, these are worth less than $30 each. As of December 6, 2020, the CPG-CAC retail price estimate for a CAC approved XF-40 grade common date was $54, but only one XF-40 grade common date Liberty Seated ‘Legend on Obverse’ half dime has been CAC approved. Certification fees and shipping costs would amount to a large percentage of the value of an XF-40 grade common date ‘Legend on Obverse’ Liberty Seated half dime submitted to NGC or PCGS and then to CAC. 

On February 2, 2020, GreatCollections sold a CAC approved AU-55 grade 1861 half dime for $181.41, a strong price. On May 12, 2019, GreatCollections sold a CAC approved AU-55 grade 1872-S, of the variety with the mintmark inside the wreath, for $159.87. It is surprising that the low cost of these AU-55 grade coins from the 1860s and 1870s has not drawn more collectors. 

A type set of circulated half dimes is not difficult to assemble and does not cost a fortune. In the realm of U.S. coins dating from the 1790s to the 1870s, half dimes are modestly priced in the current market environment. A beginner or someone who is ‘new’ to half dimes may learn much while acquiring a few type coins. After building a circulated type set, a collector may wish to pursue choice uncirculated or Proof half dimes. After a collector completes a type set of a denomination, however, he or she may shift attention to another series or decide to collect that denomination ‘by date.’

Greg has carefully examined thousands of truly rare and conditionally rare classic U.S. coins, including a majority of the most famous rarities. He is also an expert in British coins. He is available for private consultations.