1837 Capped Bust Half Dollar. Reeded Edge. 50 CENTS. GR-25. Rarity-5+.

1837 Capped Bust Half Dollar. Reeded Edge. 50 CENTS. GR-25. Rarity-5+. EF-45 (NGC). Antique-silver surfaces reveal bright cerulean and mauve toning on the obverse and pale yellow, orange, and sea-green on the reverse when viewed under a light. Both sides are somewhat glossy, though the wear and scattered marks give the coin the overall appearance of an AU example. A die crack to the left of the date extending through Liberty's hair confirms the GR-25 attribution, while the absence of an additional crack connecting the rim to the 37 and lower curls identifies this as a middle die state example. Despite being "only" EF-45, the present coin ranks within the Condition Census for GR-25, a very scarce variety for which Graham advised that "you should purchase in any grade and condition with the hope of [upgrading later]." Koenings' 2024 census records a few additional AU examples beyond those known to Graham, as well as a single Mint State coin graded MS-62, but the variety remains infrequently offered and is generally tightly held. We have sold just one other GR-25, a VG-8 from the Koenings Collection that realized $1,320 in 2021. Heritage has sold only three examples: an AU-58, an AU Details coin, and the aforementioned VG-8. Koenings assigned GR-25 a Rarity-6 rating in his 2024 census, compared with Graham's earlier Rarity-5+ assessment. For the specialist collecting Reeded Edge half dollars by die variety, this is an opportunity worthy of very careful consideration. Jim Koenings Commentary: I rate this die marriage R-6 (13 to 30 known) as only 15 specimens are listed in my records of sales maintained since 2010, including sales on eBay. Prior to the discovery of 1837 GR-27, GR-25 was the only die marriage missing from most collections of 1837 half dollars by variety. Provenance: From the Jim Koenings Collection. PCGS# 6176. NGC ID: 24G4. Click here for certification details from NGC.

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