Collecting Liberty Seated
Coins
Dick Osburn
713-875-5860
rarecoins@dickosburn.com
1
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
2
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
3
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
4
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
5
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
6
How’d I Get Here?
Wiley-Bugert reference published in
1992
• Nearly 300 varieties of the 108 dates
and mintmarks
• I was hooked!
7
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
8
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
9
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
10
Collecting Options
In order of difficulty:
1. By type only
2. By date
3. By date/mintmark
4. By variety
5. By die marriage
11
Liberty Seated Series
Half Dimes
Dimes
Twenty Cent Pieces
Quarters
Halves
Dollars
(Trade Dollars)
12
Ease of Collecting
1.
2.
3.
4.
5.
6.
7.
Half Dimes
Twenty Cent Pieces
Dimes
Halves
Dollars
Trade Dollars
Quarters
13
Half Dimes
Short series – 80 Red Book listings
4 major types
Literature – Acceptable but not good
Wonder coins – 1
• 1870-S – Unique
Stoppers – None
14
Half Dimes
Expensive coins – 7
• 1846, 1853-O, 1863-67 P mints
Difficult to find dates – Very few
15
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)
16
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)
17
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
18
Dimes
Long series – 125 Red Book listings
5 major types
19
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
20
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
21
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)
22
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
23
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
24
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
25
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
26
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
27
Trade Dollars
Interesting varieties
•
•
•
•
1876-CC doubled die reverse
1875-S/CC
1876 type 2/2
1876-S doubled die obverse
28
Quarters
Long series – 118 Red Book listings
5 major types
Literature – Acceptable but not good
• Larry Briggs seated quarter
encyclopedia
29
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
30
Quarters
Stoppers – 3
1870-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, 1864S, 1866, 1867, 1869, 1871-S, 1872-S,
1872-CC, 1873 no arrows closed 3,
1878-S, 1879-89 P mints
31
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 underrated coin in any seated series
32
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
33
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
34
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
35
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
36
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, 187074 CC mints, 1878-CC, 1879-90 P mints
37
Halves
Difficult to find dates – Less than a
dozen
• 1841, 1848, 1851-O, 1856-S, 1857-S,
1862-65 P mints
38
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
39
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)
40
References
1. 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.
41
Seated Halves
42
Series Characteristics
Designer
First official issue
Last issue
Mints
Christian Gobrecht
1839 no drapery
1891
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
43
Design Types
YEAR
Type
1. 1839-1866
1839
1839-1842
1840 (O)
1842-1866
2. 1853
3. 1854-1855
4. 1866-1891
5. 1873-1874
With drapery, no motto
No drapery
With drapery, small date/ letters
Medium letter bust reverse
With drapery, large date/ letters,
Arrows & rays, no motto
Arrows only, no motto
With Motto
With arrows, with motto
Minor hub changes – 1858, 1876
44
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
45
Seated Half Rarity
By 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
5-7 known
1851, WB-104, 8 in denticles
~15 known
1877/77 type 1 reverse (Proof)
1875-S, WB-104, micro S
2,000
5,000
~30 known
1849/1849, WB-102, dramatically doubled date
1876-S, WB-103, tail hub variety 2
5,000
1,500
~50 known
1847/6, WB-102
~75 known
1873, WB-101, no arrows, open 3
9,000
~250 known
1844/1844-O, WB-103, dramatically doubled date
2,500
$35,000+?
5,000?
12,500
46
Seated Half Rarity
The “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
1844-O doubled date
Spectacular, very visible varieties, therefore high
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
47
Seated Half Rarity
Sleepers
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
48
Interesting Coins
1840 “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)
49
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
50