In the world of coin collecting, some pieces are so rare that they become highly sought after. One such example is the 1878-S Seated Liberty half dollar, which is now one of the top lots at the Scotsman’s July 19 Midwest Summer Sale in St. Louis. This coin is a special part of U.S. history, and collectors are excited to see it being showcased at this prestigious event. Let’s dive into why this particular half dollar is so rare and valuable.
| Feature | Description |
|---|---|
| Year Minted | 1878 |
| Mint | San Francisco Mint (S Mint) |
| Total Mintage | Approximately 12,000 coins |
| Unique Diagnostic Feature | Raised lump on the reverse shield, located at the top left of the first stripe |
| Edge Reeding | 147 reeds on the edge, different from other mints in the same year |
| Rarity | Estimated 50-60 surviving coins |
| Condition | Most surviving examples show wear; some in Very Good 8 condition |
| Historical Significance | Coin struck after the Bland-Allison Act, which required the Treasury to buy silver |
| Key Collectors’ Value Factor | Its rarity, unique features, and historical context make it highly valuable |
The History of the 1878-S Seated Liberty Half Dollar
The 1878-S Seated Liberty half dollar was minted at the San Francisco Mint in 1878. The total number of coins minted was around 12,000, but due to a number of factors, only a small number of these coins have survived. The coin’s rarity can be linked to a significant event in U.S. history—the passage of the Bland-Allison Act, which required the Treasury to produce more silver coins, including the new Morgan dollars. This led to fewer half dollars being minted that year.
What Makes the 1878-S Seated Liberty Half Dollar So Special?
Several factors make the 1878-S Seated Liberty half dollar unique and highly collectible. The most notable feature is the raised lump on the reverse shield. This lump is located at the top left of the first open stripe, and it is a diagnostic feature found on all of the 1878-S coins. This detail makes the coin easily identifiable, even when worn or damaged over time.
Another special characteristic of the 1878-S half dollar is its edge. Unlike other coins minted in the same year, the 1878-S half dollar has 147 reeds on the edge, which is a distinguishing feature. This makes it possible for collectors to differentiate between genuine San Francisco Mint coins and counterfeits, some of which were marked with a false “S” mint mark.
Why Is This Coin So Rare?
The 1878-S Seated Liberty half dollar has become rare for a few important reasons. First, the total mintage of just 12,000 coins was relatively low, especially when compared to other coin releases from the same period. Second, many of the surviving coins have worn down over time due to circulation. Coins that are in better condition are even rarer.
Experts from PCGS CoinFacts estimate that only around 50 examples of the 1878-S half dollar remain in existence today, while other sources like Bill Bugert’s “A Register of Liberty Seated Half Dollar Varieties, Volume I, San Francisco Branch Mint” suggest that there may be as many as 60 surviving pieces. Regardless of the exact number, it’s clear that this coin is one of the rarest of its kind.
Condition of the 1878-S Seated Liberty Half Dollar
One of the things that makes the 1878-S Seated Liberty half dollar even more remarkable is its condition. Most surviving examples show signs of wear, meaning they have been in circulation for a long time. However, coins that are still in good condition or have been well-preserved are incredibly valuable to collectors. For instance, an 1878-S Seated Liberty half dollar graded Very Good 8 by Numismatic Guaranty Co. will likely fetch a high price at auction.
The Significance of the 1878-S Seated Liberty Half Dollar in Coin Collecting
In the world of coin collecting, the 1878-S Seated Liberty half dollar is considered a gem. Its rarity and unique features make it highly sought after by numismatists and collectors alike. Because the coin is a part of the Liberty Seated series, which was produced in the mid-1800s, it holds historical value as well. Owning an 1878-S Seated Liberty half dollar means owning a piece of U.S. history, and that makes it a valuable addition to any collection.
Conclusion
The 1878-S Seated Liberty half dollar is one of the rarest and most valuable coins in U.S. history. Its low mintage, unique diagnostic features, and historical significance make it highly sought after by collectors. Whether you are an experienced numismatist or a newcomer to coin collecting, this coin is a remarkable example of the world of rare coins. The upcoming sale at the Saint Charles Convention Center is an exciting opportunity for those interested in owning a piece of this history, and it will undoubtedly draw the attention of many collectors looking for a rare find.
FAQs
1. What makes the 1878-S Seated Liberty half dollar so rare?
The 1878-S Seated Liberty half dollar is rare due to its low mintage of only 12,000 coins and its unique features, including a diagnostic raised lump on the reverse shield and 147 reeds on the edge. Additionally, many of the surviving examples show wear from being in circulation, making well-preserved coins extremely rare.
2. How many 1878-S Seated Liberty half dollars are still in existence?
Experts estimate that around 50 to 60 examples of the 1878-S Seated Liberty half dollar remain today, making it one of the rarest coins from that era. Most of these coins show signs of wear, and coins in better condition are particularly valuable.
3. What is the significance of the raised lump on the coin?
The raised lump on the reverse shield of the 1878-S Seated Liberty half dollar is a diagnostic feature that is found on all coins minted that year. This lump is located at the top left of the first open stripe and helps collectors identify authentic 1878-S coins.
4. Why does the 1878-S Seated Liberty half dollar have 147 reeds on its edge?
The 1878-S Seated Liberty half dollar has 147 reeds on the edge, which is different from the edge reeding used on other coins minted in the same year. This distinctive feature helps distinguish authentic coins from counterfeits, some of which were marked with a false “S” mint mark.
5. What is the historical context behind the 1878-S Seated Liberty half dollar?
The 1878-S Seated Liberty half dollar was minted after the passage of the Bland-Allison Act, which required the U.S. Treasury to buy silver and produce more silver coins, including the new Morgan dollars. Due to this shift in priorities, fewer half dollars were minted in 1878, leading to the coin’s rarity.