1802 Draped Bust Half Dime. LM-1. Rarity-5. AU-50 (PCGS). The Pogue Collection 1802 half dime from the Eugene H. Gardner Collection is among the finest known examples of one of the greatest rarities in the American series. The cataloger for Heritage gave this description:

The surfaces of this coin, the plate coin on the PCGS CoinFacts website, are pale lavender with copper-rose patina around the device edges and scattered accents of pastel blue. For provenance purposes we note a thin horizontal scratch across Liberty’s cheek and a diagonal one running through the eagle’s left (facing) wing, running down through the horizontal shield stripes at upper left and crossing through the vertical stripes to the lower right of the shield. Although some of the dentilation is weak, much of it remains pleasingly bold. The majority of Liberty’s tresses are well brought up overall, but some strike softness appears at Liberty’s lower curls and the corresponding area on the reverse, namely stars 2, 3, and 8 above the eagle’s head.

The preceding gives a nice word picture of the Pogue specimen. This plus the illustrations of the obverse and reverse define this coin nicely.

Walter Breen in his 1988 Complete Encyclopedia noted that “the most famous date in the half dime series is the 1802,” and that possibly 35 to 45 were known, including two at the AU level and five EF examples. Regarding grading events at the present time—PCGS lists one AU-50 (this coin) and two AU-55, and NGC lists two AU-50. These do not necessarily represent different coins.

This is one of the Thirteen Silver Barons.

An 1802 half dime in any grade is an object of desire and attracts attention, exemplified by the first in-depth study of this issue by Harold P. Newlin, published as a monograph in 1883. Newlin, an especially aware collector of his era, imparted into his writing a love and enthusiasm for these little silver pieces. After reading his lengthy and detailed text it is likely that many developed a possession desire for even an 1802 half dime worn nearly smooth! That philosophy continues today. Newlin’s treatise, in part:

I write thus in detail, because I think it may be interesting to collectors to learn all they can about this—the most desirable piece of the American silver series. I foresee that some numismatists will take issue with me in the statement, that the 1802 half-dime is the most desirable of the silver series. My reason for giving it the most exalted place, I will endeavor to explain. If a collector were asked to name the four rarest American silver coins, he would, I am sure, naming them in the order of their denominations, say: the 1804 dollar, 1823 quarter, 1827 quarter, and 1802 half-dime. I will assume that these are the rarest ... [Newlin continued by saying the others existed as Proofs, restrikes were made of some, etc., but the 1802 was a “pure” coin for circulation.]

Upon these facts I base my opinion, that the half-dime of 1802 is the most desirable of the silver series.

Newlin continued by giving detailed descriptions and provenances of the 16 examples known at that time. His commentary is interesting to read today and transmits some of the romance surrounding this issue. His essay represents one of the first lengthy efforts in print in the hobby to draw attention to a particular rarity.

Provenance: From Steve Glenn; Heritage CSNS Sale, April 2006, lot 1868; Joseph C. Thomas; Heritage CSNS Sale, April 2009, lot 2186; Heritage sale of the Eugene H. Gardner Collection, June 2014, lot 30180.

Rarities Auction Accompanying the D. Brent Pogue Collection

Stack’s Bowers Galleries will be hosting an exclusive Rarities Auction, held in conjunction with The D. Brent Pogue Collection. We will be accepting limited consignments of United States and world coins and paper money, featured in a spectacular catalog reserved for the rarest of the rare. Special terms will apply. If you are interested in participating in this unique opportunity, please call 949-748-4849 or email us at [email protected].

Alternatively, you can fill out our online consignment form. Click here to view the form.