1834 50C Crushed Lettered Edge (Proof)

The Proof 1834 Crushed Edge Lettering Half Dollars are exceedingly rare and represent some of the most unusual coin in the Capped Bust series. Experts believe they were made sometime post-1834 on the new steam press (installed in 1836) using a close collar. Prior to 1836, the steps in the minting procedure included: 1) preparation of the blank planchets; 2) applying edge lettering to the blanks; then 3) striking in the coinage press. The same procedure were followed in the preparation of these Proofs except that a smooth, close collar with no edge reeding was used. As the coinage dies impacted the blank silver planchet, the metal flowed outward until it hit the collar, which crushed the edge lettering that had been applied earlier.

The purpose of these Proofs is unknown. They may have been experiments to try out the new steam press, they may have been made for sale to collectors, or they may have been made for presentation (remember, 1834 was the year in which mint employees struck the King of Siam Proof set).

Of the five examples known, one is in the National Numismatic Collection at the Smithsonian Institution. Another is a worn Proof (EF45 estimated grade). Of the remaining three coins, the best example is the NGC PR67 from the Floyd Starr Collection (offered privately in 2012 for $199,500).