PCGS The Standart for the Rare Coin Industry

Liberty Seated Half Dollars (1839-1891)

Liberty Seated half dollars were first produced for circulation in 1839 and were minted continuously through 1891. Several different design variations were made during this span. In general, Liberty Seated half dollars are inexpensive, particularly in circulated grades, and the formation of a set of these can be a pleasant pastime. As is true of many series from the mid-19th century, there are numerous issues which are virtually impossible to find in higher Mint State levels, a situation which may dissuade the investor who is tuned in to hearing that something must be MS-65 to be worthwhile. However, for the knowledgeable buyer who can go beyond such market puffery, there is great satisfaction in acquiring coins which are rarities in grades such as Extremely Fine and AU. One particular rarity in the series, the 1853-O without arrows, does not exist in grades above Very Fine.

The subject of high condition as a key to coin collecting enjoyment and profits has been vastly overblown in recent years, particularly beginning with the popularity of certified coins. During the past several years great emphasis has been placed on the investment aspect of coins, and it is true to state that for every dollar spent advertising a "collector" series such as Liberty Seated half dollars, $100 or more is spent in advertising investment coins - MS-65 Morgan dollars, 20th century coins, etc. A beginning collector can readily understand that a coin in MS-65 or better grade is in high condition and is desirable. The same person would have a great deal of difficulty comprehending why on earth anyone would want to own a Very Fine 1853-O Without Arrows half dollar! Of course, as a professional numismatist I would travel across the country to buy a worn 1853-O of this type, as would any one of my contemporaries!

While completion is a laudable goal in any series, for the majority of collectors completion of a set of Liberty Seated half dollars is not possible. So far as I know, there are only three 1853-O half dollars known of the Without Arrows type (not to be confused with 1853-O half dollars with arrows at date and rays on the reverse, minted later in the year, which are quite common). Thus, only three collectors on the face of the globe can have a truly complete collection. Does this mean that you should not collect Liberty Seated half dollars? Of course not. No art collector can ever have one of each significant painting style, no collector of automobiles can own one of each marque, and so on. Although Louis Eliasberg, the great Baltimore collector, by 1950 had done what no one had ever done before and had acquired one of each date and mintmark issue of United States coins from half cents to double eagles, the fact remains that there are hundreds of thousands of other collectors who have enjoyed coins without absolute completion of all series.