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Images courtesy of Ira
& Larry Goldberg Coins & Collectibles, Inc.
Significant examples:
NGC VG-10 (illustrated
above). Purchased over the counter by Manny Acosta at his Southern
California coin shop July 25, 2000, then consigned to Ira & Larry
Goldberg Coins & Collectibles, Inc. "The Benson Collection, Part
I", February 16, 18-20, 2001, Lot 1728, where it was described as
follows: "1795. Overton-132. Rarity-8, illustrated, sold for
$39,100.00 One of two known of the
variety. NGC graded VG-10. Numismatists for the last 150 years have
accumulated coins and medals in America. Scholarly works began to appear
in the late 1850s on die varieties of United States large cents. Other
denominations were studied, and two students of the time, J. Colvin
Randall and Capt. John W. Haseltine examined available collections of the
day and published a die variety reference on United States quarters, half
dollars and silver dollars, under Capt. Haseltine's name (Randall
apparently never forgave Haseltine for claiming the work as his alone).
The Haseltine work was the standard reference for these silver varieties
for about 5 decades. In time, collectors began to find new varieties, and
a new wave of updated variety books was published in the 1920s and later.
M. L. Beistle published an excellent work on half dollar varieties in
1929, based on his own collection, the collection of David Proskey and Mr.
E. H. R. Green. The Beistle book stood as the standard reference until the
1960s, when Al Overton published his own study of early half dollar die
varieties, along with subsequent revisions and updates. The Beistle book
proved to be very accurate, but lacked the plates of later varieties
desired by collectors.
One die pairing of 1795 half dollars proved to be very troubling. Beistle
noted on page 10 of his book under variety 1795 10 C that ..."This
die variety is very similar to Nos. 1, 2 and 6. The last star point is
close to the end of the bust, and the first star and curl are in the same
position as on No. 2. This variety can readily become confused with No. 6,
but there is one very decided difference. On No. 6, E and R in LIBERTY are
wide spaced, and on this variety they are close spaced, and almost touch
at the base." Beistle goes on to say "Exceedingly rare; the only
one I have seen and believe it to be unique."
Beistle printed plates of the 1794 and 1795 half dollars, as well as other
selected varieties. Included in these plates is a photograph of his 10 C
variety, the coin he thought to be unique. Beistle's 1795 variety 10 C is
important because his obverse 10 was not paired with any other known
reverses, while reverse C was used in 1795 to produce Beistle's 1 C
variety (Overton-101) which is extremely rare, with only 5 specimens known
of the B 1-C or O-101 variety. When Overton published his variety
reference on half dollars, he initially dropped Beistle 10 C as he could
not locate a specimen, and none of the half dollar collectors he knew had
ever seen one. Later, in his second 1970 edition, Overton included 1795
Beistle 10 C as Overton-132, and used the same photograph to represent the
variety that Beistle has used.
In 1990, the Third Edition of Early Half Dollar Die Varieties, 1794 -
1836 was published by Don Parsley, updating the Overton reference with
a condition census and additional varieties discovered since 1970. Despite
years and years of dozens of collectors actively attributing bust half
dollars, no one had found the original Beistle 10 C coin, nor had anyone
turned up another example. Doubts had begun to form about the Beistle 10
C. Parsley stated after the variety description of 1795 Overton-132
"If in fact, this marriage exists, this piece may be unique. Any
information the reader may have would be welcome." Another decade
passed, thousands and thousands of bust half dollars were attributed,
purchased and sold. Still no example of the 1795 Beistle 10 C (O-132) was
located, despite the best efforts of the Bust Half Nut variety collectors
club.
The decades of speculation were finally laid to rest in July of 2000,
Southern California coin dealer Manny Acosta purchased a 1795 half dollar
from a customer in his store. Acosta called half dollar specialist Gary
Beedon and asked him to help him attribute his new purchase. Beedon and
Acosta soon discovered that the new 1795 half dollar was an example of
Beistle 10 C, or Overton 132. To say the discovery was exciting is a
serious understatement. Not only did this coin confirm that O-132 did
exist, but the example found was different from the coin pictured in
Beistle's book. To locate a variety which has been unconfirmed for over 70
years is certainly the find of a lifetime. For bust half dollar
collectors, this is one of the most important finds in decades.
As to the coin itself, it is generally untoned and silvery-white in color.
The obverse has typical marks expected for the grade, but the rims and
surfaces show no significant defects or circulation problems. On the
reverse, the unique berry combination 10 on the left branch and 9 on the
right quickly identify this as Reverse A (Overton) or C (Beistle). Note
that there are four berries on the lower right branch under the wing, both
outside berries are small and partially covered by the branch. Well struck
by the dies, this coin is quite pleasing for its moderate grade. The
obverse die failed quickly, with a strong die break through RTY of
LIBERTY. So far as is known, only two coins survived, one of which hasn't
been published since 1929, and this example. To say this is a foremost
opportunity would be an understatement. This is the opportunity to
purchase this variety. Once sold, it may not be offered again for decades
unless the buyer from this sale decides to part with it. No hint of a
third example has been heard.
After reviewing the Beistle reference, the cataloger (JMM) noticed a small
but very important clue pertaining to the Beistle 10 C coin. Beistle noted
in his Foreword that his collection was formed with the help of David
Proskey and Mr. E. H. R. Green. Beistle notes that through Proskey,
Beistle was able to "possess and register many of my rarest
varieties, not a few of which came from his private collection." It
thus appears that Proskey sold Beistle coins for his collection, including
pieces from Proskey's own private collection. Although Beistle did not
auction his personal collection, some of the coins used in his plates have
turned up in half dollar collections, and it is likely that Beistle's
coins were sold sometime after his book was published in 1929 although the
disposition of his collection was not published or auctioned.
Reading on Beistle continues in his Foreword as follows:
"This work would not have been brought up to its present completeness
had it not been for my friend Mr. E. H. R. Green of South Dartmouth,
Mass., who is an ardent collector as well as an advanced student of
numismatics. I am very much indebted to Mr. Green for loaning me his
entire collection of Half Dollars for checking die varieties, which
enabled me to make this work more complete than otherwise. At the same
time, it gave me an opportunity when making my plates, to photograph some
of his finest and rarest specimens."
My guess is that Beistle did not own the example of 10 C, but that it
resided in the Green collection. Further evidence supports this in the
fact that the plate for 1795 obverse 10 is dropped in seemingly as an
afterthought, on page XXV after the 1796-97 half dollars. Note that all
other half dollars plated are in date, variety and letter order. Obverse
1795 10 is the one exception to proper sequential ordering. Let me
emphasize what Beistle says in the paragraph about Col. Green. Beistle
states that his book was "brought up to its present
completeness" by coins Green "loaned" him. Further, Beistle
thanks Green for allowing him to "photograph some of his finest and
rarest specimens." As the Beistle collection was apparently sold or
broken up, yet the 1795 10-C has not turned up, there is certainly a
better than average chance that the coin used in his book resides in the
Col. Green collection. Based on the location of the 1795 Beistle 10
obverse in the plates, it appears that it turned up very late in the
publication process, and barely made it into the Beistle book. The Col.
Green collection was broken up in the 1940s, with some of the more
important coins sold directly to a famous mid west collector, where they
remain to this day. With no evidence to the contrary, it is likely that
the long missing 1795 Beistle 10-C, Overton-132 coin is held in that
famous collection today. This would explain why the coin hasn't turned up
in over 70 years.
Now at last, a second specimen has turned up, the specimen offered here.
Rumors of the demise of Beistle's 1795 10-C were exaggerated, and at last
all collectors will have a chance to finally purchase this coin for their
variety collections. When the hammer falls, there will be one very happy
collector who can finally knock this coin off their want list, after
decades of uncertainty and searching, the existence of Beistle 10 C is
finally solved."
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