Jeff Garrett: 1836 Reeded Edge Half Dollars
Posted on 8/4/2022
One of the more interesting coins made by the US Mint over the last 200-plus years are those that can be called “transitional issues.” These coins straddle one design from the next and are often the result of some historical or technological development. The 1836 Reeded Edge Half Dollar touches on both. It is also quite rare and sought after.
Although Christian Gobrecht is best known for his Seated Liberty design, introduced in 1836 for the dollars which bear his name, he also redesigned the 1836 Reeded Edge Half Dollars. John Reich originally engraved the Liberty Capped design for half dollars in 1807. This design continued until 1836, when Reeded Edge Half Dollars were produced. The modified Reeded Edge design continued through 1839, overlapping with Gobrecht’s Seated Liberty Half Dollars that same year.
|A portrait of Christian Gobrecht (top)
and two sketches (bottom), used with permission from the Smithsonian Institution.
Click images to enlarge.
Bust Half Dollars were truly a workhorse coin for the United States. Starting in 1805, half dollars were the primary large denomination coin produced. Half dollars were produced annually in large numbers with the exception of 1816 because of a fire at the Philadelphia Mint. The coins were struck from hand-engraved dies on the Mint’s original screw press. Because of the hand-engraved dies, numerous varieties are known each year, and Bust Half Dollars are eagerly collected by die variety.
First Steam Press —1836
The Mint’s original hand-operated press was phased out in favor of steam power starting in 1836. M. Thonnelier invented the steam press in France in 1833. In 1836, it was purchased and set up in the United States by Merrick, Agnew and Tyler of Philadelphia. The distinctive feature of the press was the use of the toggle joint, a special mechanism that yielded greater pressure over the screw press. The steam press had a capacity of producing 100 coins per minute. The original steam press is now housed near the entrance to the American Numismatic Association (ANA) headquarters in Colorado Springs, Colorado.
1836 Reeded Edge Half Dollar
In 1836, the Capped Bust Half Dollar was converted from a lettered edge type to one with a reeded edge. The main reason for this change was the conversion to steam power from the hand-operated screw press. The coin’s design was also updated by Christian Gobrecht, with the words “50 CENTS” placed below the eagle instead of the previous use of “50 C.” Also, in 1837, the weight of the Reeded Edge Half Dollar was reduced from 208 grains to 206.5 grains. The fineness of silver was raised from .8924 to .900. In 1838, the value on the reverse was changed once again to “HALF DOL.”
|1836 Lettered Edge Half Dollar (top) and 1836 Reeded Edge Half Dollar (bottom) from NGC Coin Explorer.
Click images to enlarge.
As mentioned above, the 1836 is a transitional issue, with the half dollars being issued in two different designs or styles. The 1836 Reeded Edge was produced in very low numbers, with only about 1,200-plus business strike coins having been reported struck. Some experts think more were produced based on the number of survivors. Of this relatively low number, very few are actually still known (less than 500 estimated).
A few decades ago, some numismatic researchers debated whether or not the 1836 Reeded Edge Half Dollars were produced as patterns. Over time, this theory was rejected, as the coins were clearly made in ample numbers for circulation.
Most of the survivors seen are circulated, and high-grade examples are quite scarce, with just a few hundred known in all grades. NGC has only graded 178 circulated examples and 36 Mint State examples. Only two coins have been certified as MS 65, with none better. The last NGC MS 65 sold in 2004 for $31,625. If one of the two above coins were to sell now, it would surely bring much more.
A very small number of Proof 1836 Reeded Edge Half Dollars were also produced. The mintage has been estimated at about 15 coins, with about 10 to 12 known. The Proof examples we have seen are well struck, with glittering mirror surfaces. The coins are beautifully made. A letter from Mint Director Robert Patterson to Secretary of the Treasury Levi Woodbury dated November 8, 1836, states:
“I have the pleasure to send you herewith, and beg you to exhibit to the President, the first specimens of our coinage of silver by steam, executed this afternoon.”
It is not known if the above-mentioned coins were circulation strikes or Proofs. Logic would suggest Proof examples were sent.
The introduction of steam power represented one the greatest technological advances in the history of the United States Mint. The 1836 Reeded Edge Half Dollar is a wonderful and tangible connection to this watershed moment in numismatic history. This issue is one my favorite coins from this era of United States coinage.
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