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Collecting Liberty Seated

Coins

Dick Osburn

713-875-5860

rarecoins@dickosburn.com

How’d I Get Here?

Began collecting in 1955• Dad had typical coins in his top drawer

Indians, early Lincolns, a couple Morgan/peace dollars, a few foreign coins, one gold piece (he didn’t give me that one)

• Collected Indians, Lincolns, Jeffs, Mercs, etc.

• Only a very few quarters, halves, dollars Couldn’t afford them

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How’d I Get Here?

Dealing by 1958 (age 13)• Selling circulation finds at local shows• Limited buying for resale• Bought my first 1909-S-VDB that year

$35 for a F that was really a VG

• Dad was convinced I was crazy• Grandfather encouraged me• Mom stayed on the fence

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How’d I Get Here?

Slowly retreated from collecting and dealing during college years• Higher priorities• BUT – Subscription to Coin World has

been uninterrupted since 1960

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How’d I Get Here?

Re-entered collecting in the late 1970’s• Initially all series• Quickly focused on half dollars

Engineering analysis determined it was the easiest series to collect (at least it was the easiest one that I liked)

• Narrowed the focus to seated halves in the early 1980’s

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How’d I Get Here?

Really serious by the late 1980’s• Studied varieties and die marriages, but

without much literature to help• Bought all the books I could find• Started my own reference spreadsheet

for the series

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How’d I Get Here?

Wiley-Bugert reference published in 1992• Nearly 300 varieties of the 108 dates and

mintmarks• I was hooked!

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How’d I Get Here?

By 1995 my want list was large and I was “coin-broke”• Had 3 double row boxes of dups• It was time to start dealing again• Put a small ad in the Gobrecht Journal

and started selling my dups

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How’d I Get Here?

“Dick Osburn Rare Coins” began in 1995• The timing was perfect - The business

grew much faster than I could have ever predicted

• A few small shows, then Baltimore in 1997

• Other national shows beginning in 1998• Retired from NASA in 2003

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Why Liberty Seated?

Challenging series!• Lengthy

– 1837-1891 with lots of mintmarks

• Lots of interesting varieties• Genuinely rare

– It takes luck in addition to money to complete a set

Beautiful designs/ beautiful coins

Silver nuggets of early U. S. history

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Collecting Options

In order of difficulty:

1. By type only

2. By date

3. By date/mintmark

4. By variety

5. By die marriage

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Liberty Seated Series

Half Dimes

Dimes

Twenty Cent Pieces

Quarters

Halves

Dollars

(Trade Dollars)

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Ease of Collecting

1. Half Dimes

2. Twenty Cent Pieces

3. Dimes

4. Halves

5. Dollars

6. Trade Dollars

7. Quarters

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Half Dimes

Short series – 80 Red Book listings

4 major types

Literature – Acceptable but not good

Wonder coins – 1• 1870-S – Unique

Stoppers – None

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Half Dimes

Expensive coins – 7• 1846, 1853-O, 1863-67 P mints

Difficult to find dates – Very few

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Half Dimes

Interesting varieties• 1840-O transitional reverse• 1848/8/7, 1848/7/6• 1849/6, 1849/8 (controversial)• 1853, 1853-O no arrows• 1859 and 1860 transitional (considered

patterns, not regular issues)• 1861/0 (controversial)

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Twenty Cent Pieces

Only 7 coins total

Only one type

Literature – Virtually none

Wonder coins – 1• 1876-CC – About a dozen known

Stoppers – None (2 are close)

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Twenty Cent Pieces

Expensive coins – 3• 1875-CC, 1877 (proof only), 1878 (proof

only)

Difficult to find dates• All except the 1875-S

Interesting varieties• 1875-S – S/S and MPDs• 1876 doubled die reverse

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Dimes

Long series – 125 Red Book listings

5 major types

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Dimes

Literature – Outstanding!• Gerry Fortin’s web book

Down to the die marriage level Excellent pictures Updated frequently Free! www.seateddimevarieties.com

Wonder coins – 1• 1873-CC no arrows – Unique

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Dimes

Stoppers – 1 (2 more close)• 1874-CC

Expensive coins – 7• 1846, 1863-67 P mints, 1871-73 CC

mints, 1885-S

Difficult to find dates – Many• S mints, a few others

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Dimes

Interesting varieties• 1839 pie-shaped die crack – 4 known• 1841-O – transitional reverse hubs

Large and small mintmarks Currently R6, R7

• 1873 doubled die obverse• 1859 transitional (considered a pattern,

not a regular issue)

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Dollars

Short – 45 Red Book listings

2 major types

Literature – Virtually none

Wonder coins – 1 or 2• 1870-S – 9-12 known• 1873-S – Unknown in any grade

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Dollars

Stoppers – 4• 1851, 1852, 1858 (proof only), 1873-CC

Expensive coins – The rest of the series!• Entry level is $200-300

Difficult to find dates• All but about 10 common dates• Problem-free low grades are almost

unavailable, even for the common dates

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Dollars

Interesting varieties• 1851 and 1852 restrikes (proof only)• 1850 restrike (proof only, 2 or 3 known)• 1844 MPD and doubled die obverse• 1866 no motto (considered a pattern,

not a regular issue. 2 known)• 1867 large/small date• Several MPDs

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Trade Dollars

Short series – 33 Red Book listings

Only 1 major type

Literature – Virtually none

Wonder coins – 2• 1884 – 10 known• 1885 – 5 known

Stoppers – None

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Trade Dollars

Expensive coins – 6• 1878-83 P mints (proof only)• 1878-CC• The rest of the series? (entry level is $150-

250)

Difficult to find dates• All the CCs, 1875• Problem-free low grades are almost

unavailable, even for the common dates

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Trade Dollars

Interesting varieties• 1876-CC doubled die reverse• 1875-S/CC• 1876 type 2/2• 1876-S doubled die obverse

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Quarters

Long series – 118 Red Book listings

5 major types

Literature – Acceptable but not good• Larry Briggs seated quarter

encyclopedia

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Quarters

Wonder coins – 2 (3?)• 1842 small date (proof only, 5-7 known)• 1873-CC no arrows (5 known)• 1870-S –Unknown–An exampled is rumored to be in the

cornerstone of the old San Francisco mint

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Quarters

Stoppers – 31870-CC, 1871-CC, 1873-CC

Expensive coins – • 1842-O small date, 1849-O, 1852-O, 1853

no arrows (repunched date), 1854-O huge O, 1856-S/S, 1859-S, 1860-S, 1864-S, 1866, 1867, 1869, 1871-S, 1872-S, 1872-CC, 1873 no arrows closed 3, 1878-S, 1879-89 P mints

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Quarters

Difficult to find dates• Too many to list• Many of those listed as expensive aren’t

expensive in the price guides• 1856-S/S is probably the most under-

rated coin in any seated series

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Quarters

Interesting varieties• 1840 and 1843 large O’s• 1848 repunched dates (doubled and

tripled)–No normal date examples are known

• 1853/4 • 1854-O huge O• 1856-S/S

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Quarters

Interesting varieties (concluded)• 1856-S/S• 1857 – reverse die clashed with a flying

eagle cent die• 1866 no motto (considered a pattern,

not a regular issue. 1 known)• 1877-S/S

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Halves

Long series – 128 Red Book listings

5 major types

Literature – Good to Outstanding• Wiley-Bugert Encyclopedia• Bill Bugert’s new series

Down to the die marriage level Excellent pictures S mint book is available, CC’s in June O and P mints coming in the next 2-3 years

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Halves

Wonder coins – 3 (4?)• 1842 small date, small letters – 3 known• 1853-O no arrows or rays – 3 known• 1866 no motto (considered a pattern,

not a regular issue. 2 known)• 1873-S no arrows– 5000 mintage, but currently unknown

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Halves

Stoppers – 3• 1878-S

– 60-75 known in all grades– $20k and up

• 1847/6• 1873 no arrows closed 3

Expensive coins – About 2 dozen• 1850-52 P mints, 1852-O, 1855-S, 1870-74

CC mints, 1878-CC, 1879-90 P mints

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Halves

Difficult to find dates – Less than a dozen• 1841, 1848, 1851-O, 1856-S, 1857-S,

1862-65 P mints

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Halves

Interesting varieties• 1842 small and large dates• 1844-O doubled date• 1846 medium and large dates• 1846 over horizontal 6• 1861-O Confederate die crack• 1866-S no motto (transitional type)• 1873 open and closed 3’s

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Closing Thoughts

Get smart – Buy the books before the coins• Join the Liberty Seated Collector’s Club• Buy all the old collective volumes (5

currently available)

Limit your scope – Specialize in one series

Go for more than your budget can afford (it will take a long time anyway)

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References1. Blythe, Al, The Complete Guide to Liberty Seated Half Dimes. Virginia Beach,

Virginia: DLRC Press, 1992.2. Fortin, Gerry, seateddimevarieties.com.3. Briggs, Larry, The Comprehensive Encyclopedia of United States Liberty Seated

Quarters. Published by Larry Briggs, 1991.4. Wiley, Randy; and Bugert, Bill, The Complete Guide to Liberty Seated Half Dollars.

Virginia Beach, Virginia: DLRC Press, 1993.5. The Gobrecht Journal. Three times yearly publication of the Liberty Seated

Collector’s Club.6. The Gobrecht Journal, Collective Volumes 1-5. Published by the Liberty Seated

Collector’s Club.7. Flynn, Kevin, Two Dates are Better Than One, A Collector’s Guide to Misplaced

Dates. Rancocas, New Jersey: KCK Press, 1997.8. Lloyd, Lloyd M., The Varieties of 1854 New Orleans Liberty Seated Half Dollars,

Published by Mike Lloyd, 1998.9. Beistle, M. L., A Register of Half Dollar Die Varieties and Sub-Varieties.

Shippenburg, Pensylvania: The Beistle Company, 1929.10. Breen, Walter. Walter Breen’s Complete Encyclopedia of U. S. and Colonial Coins.

New York: F. C. I. Press, Inc. and Doubleday, 1988.11. Breen, Walter. Walter Breen’s Complete Encyclopedia of U. S. and Colonial Proof

Coins. New York: F. C. I. Press, Inc. and Doubleday, 1977.

Seated Halves

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Series CharacteristicsDesigner Christian Gobrecht

First official issue 1839 no drapery

Last issue 1891

Mints Philadelphia 1839 - 1891

San Francisco 1855 - 1878

New Orleans 1840 - 1861

Carson City 1870 - 1878

Total dates/mintmarks 108

Red Book listings 128

Total varieties 306 in Wiley/Bugert reference

~500 estimated

Total die marriages ~2500 estimated

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Design Types

YEAR Type

1. 1839-1866 With drapery, no motto1839 No drapery1839-1842 With drapery, small date/ letters1840 (O) Medium letter bust reverse1842-1866 With drapery, large date/ letters,

2. 1853 Arrows & rays, no motto3. 1854-1855 Arrows only, no motto4. 1866-1891 With Motto5. 1873-1874 With arrows, with motto

Minor hub changes – 1858, 1876

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Seated Half Rarity

By Date and Mintmark (all varieties included)

R7+ 3 known 1853-O No Arrows

1842 small date small letters

R5 ~65 known 1878-S

R3 Less than 500 1851, 1852-O, 1870-CC, 1878-CC

1871-CC, 1874-CC

R2 Less than 1250 1842-O SD, 1846-O TD, 1850, 1852

1855-S, 1856-S, 1857-S, 1866-S NM

1872-CC, 1873-CC NA, 1873-CC WA

1885, 1886, 1887

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Seated Half RarityBy Variety Value (XF)

Unknown 1880, type 1 reverse

Unique 1866, no motto (Actually a pattern, the DuPont coin)

1 known 1877, WB-101, type 1 reverse

3 known 1842, small date and letters $35,000+?

5-7 known 1851, WB-104, 8 in denticles 5,000?

~15 known 1877/77 type 1 reverse (Proof) 2,000

1875-S, WB-104, micro S 5,000

~30 known 1849/1849, WB-102, dramatically doubled date 5,000

1876-S, WB-103, tail hub variety 2 1,500

~50 known 1847/6, WB-102 12,500

~75 known 1873, WB-101, no arrows, open 3 9,000

~250 known 1844/1844-O, WB-103, dramatically doubled date 2,500

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Seated Half RarityThe “Not So Rare”

1855/4 You can find one or two at any large show

1845-O No Drapery Actually a die state, caused by polishing the die

(the 1839 ND is the exception)

Many other no drapery dates are available

1846/horizontal 6 Spectacular, very visible varieties, therefore high

1844-O doubled date priced, but not excessively rare

1879 through 1890 Rare by mintage, but always available

Buy proofs for not much more than G-VG

1885, 1886, and 1887 are rarer than the others

1855-S Louisiana hoard dispersed about 10 years ago

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Seated Half RaritySleepers

1842-O Large date Common date, but very hard to find

1848 Moderate price, hard to find

1851 Higher priced, but virtually unavailable

1851-O Higher mintage, and common date price

Sought by date collectors due to scarcity of 1851

1852-O Price references around $100 in G/VG

Virtually unavailable in all grades

1856-S, 1857-S As scarce as 1855-S, but at a fraction of the price

1862 - 1865 Civil war issues disappeared

1864-S Very underrated. Virtually unobtainable in AU - MS

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Interesting Coins1840 “Medium Letters” reverse

• Bust half reverse (obverse mintmark) used to strike an 1840-O seated half• Result - the “Medium Letters” no mintmark variety, which is actually a

New Orleans issue

Early New Orleans die usage• 1845-O WB-108

1846, 6 over horizontal 6

The 1861-O “Confederate” halves• Obverse die linked to real 1861 Confederate half dollar issued by the CSA

1866 with misplaced digits (WB-103)

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Cherry Picking (for fun and profit)

The Rules of Engagement

• Cherry Picking is an honorable pursuit (NOT theft)– You worked hard for the knowledge - YOU EARNED IT!!

– Most (but not all) dealers agree

• Be courteous to a dealer’s other customers– Don’t hog the table

• When you find something– Complete your search before asking for prices

– Ask the price, then pay it or move on

– If the dealer asks what you’ve found, tell him