1850-O 50C WB-12, Large O MS(PCGS#801205)

November 2019 Baltimore U.S. Coins Auction

拍卖行

Stack's Bowers

批号

7227

等级

AU58

价格

9,285

详细说明

1850-O Liberty Seated Half Dollar. W-12. Rarity-3. AU-58 (PCGS). A richly toned example with blended highlights of antique gold, powder blue and salmon pink to dominant steely-charcoal. Sharply struck and lustrous, not much separates this coin from a Mint State grade. The 1850-O half dollar is interesting from the standpoint of the number of pieces produced for its era. The discovery of gold in California in 1849 and the subsequent Gold Rush quickly upset the balance between gold and silver on the world market. The effect on half dollar coinage at the main facility in Philadelphia was immediate, and the mintage of the 1850 was dramatically lower than the previous year. In New Orleans, however, it was business as usual for one more year as the branch mint delivered 2,456,000 half dollars to meet local needs, although they sold at a premium in relation to current bank notes (New Orleans was the banking center of the Central South). It was not until 1851 that the effects of the Gold Rush began to curtail the flow of silver bullion to the New Orleans Mint, and the mintage of half dollars that year plummeted to 402,000 pieces. Despite the fact that many examples were likely melted as their bullion value outstripped their face value, the 1850-O is available in most circulated grades. Mint State coins are scarce, however, and the same can be said for attractive Choice About Uncirculated examples, as here. There was no numismatic interest in this issue at the time, so high grade coins survived purely as a matter of chance. Provenance: From the E. Horatio Morgan Collection. PCGS# 801205. Click here for certification details from PCGS.