Photos used with permission and courtesy of Heritage Auction Galleries

Description:
In 1907 a collaboration between the dynamic president Theodore Roosevelt and renown American sculptor Augustus Saint-Gaudens resulted in new designs for both the twenty dollar gold coin and the ten dollar gold coin. The new design on the eagle featured a native American on the obverse, and a standing eagle on the reverse. The Indian was modeled after the figure of Nike (representing Victory) that was part of the Saint-Gaudens’ equestrian Sherman Monument located at the entrance to New York’s Central Park, and the reverse was a representation of America’s symbol, the bald eagle. While the sculptural effects of the original designs are admired (most noticeable on the Wire Rim and Rounded Rim pieces initially produced), the representation of Liberty adorned by a ceremonial headdress not worn by female native American was incongruous; and the eagle, though dramatically posed, is not an anatomically correct representation of a bald eagle (the legs are longer, for example).

Artistic license aside, a greater problem for the Mint was the reality that the raised edge of the first Indian Head eagles would not stack, and the modified rounded rim pieces apparently would not strike with satisfactory quality. It was left to the often maligned Mint Engraver Charles Barber to make additional changes (he had also changed the raised rim to the rounded rim) so that the Indian Head eagle could be produced efficiently and in sufficient quantities for commerce; or as one scholar described it, “turning unusable designs into something practical.” Barber’s efforts are often criticized, but the changes were successful in terms of production, and hundreds of thousands of the eagles were minted in the first two years of the type. The first Indian Head eagles omitted the motto IN GOD WE TRUST, which appeared on the previous Liberty Head eagle, and which was in fact mandated by the Act of March 3, 1865, but left off by Saint-Gaudens.

Many commentators attribute that omission to the sheer willpower of Teddy Roosevelt, who apparently believed that placing religious sentiment on circulating coinage was a form of blasphemy (the same coin that showed up in this week’s offering plate might be on the gambling table next week). Congress disagreed however, likely encouraged by strong public opinion, and the motto was added to the reverse for issues produced later in 1908. In what was perhaps a tribute to Saint-Gaudens’ artistic skills, Bella Lyon Pratt used a virtual copy of the gold ten dollar reverse eagle in his designs for the quarter eagle and half eagle gold coins of the same era. Indian Head With Motto eagles were minted yearly from 1908 through 1916, but none were minted from 1917 through 1919, 1921 through 1925, 1927 through 1929, or in 1931. Though over 300,000 With Motto Indian Head eagles were minted in 1933, the last year of the type, most were melted prior to extensive distribution after President Franklin Roosevelt’s April 1933 Executive Order 6102, which severely limited the possession of gold by U.S. citizens.

Liberty faces left on the obverse, wearing a many-feathered bonnet which displays LIBERTY across the front. Strands of flowing hair appear below the headdress at the forehead and across the side to the back. Thirteen six-point stars form an arc inside the top third of the raised rim above, though slightly touching, the feathers of the headdress. The date is centered at the bottom, crowding both the portrait and the rim. On the reverse a majestic eagle faces left and rests on a bundle of arrows with an olive branch intertwined. Inside the raised rim is UNITED STATES OF AMERICA at the top and TEN DOLLARS at the bottom, the words of both legends separated by centered, somewhat triangular dots. At the upper right, above but touching the eagle and below OF AMERICA is E PLURIBUS UNUM, each word on a separate line; to the left of the eagle is IN GOD WE TRUST, also in three lines. The edge has 46 raised stars through 1911, and 48 stars from 1912 forward (the stars representing the number of states in the Union). No Motto Indian Head eagles were minted at Philadelphia, Denver, and San Francisco; D and S mintmarks are to the left of TEN, below the tip of the olive branch, with the bottom edge parallel to the curved rim.

Tens of thousands of business strike With Motto Indian Head eagles have been certified, significantly more for 1926 and 1932, and significantly fewer for 1920-S, 1930-S, and 1933. Prices are moderate for many dates through MS62, expensive to MS64, and very expensive or extremely expensive finer. The more expensive issues, particularly as MS62 and finer, include 1920-S (extremely expensive finer than MS63), 1930-S (extremely expensive finer than MS65), other San Francisco pieces, 1911-D (extremely expensive finer than MS64), and 1933, extremely expensive in all grades. Proofs were struck from 1908 through 1915, and a few hundred examples have been certified. Proofs with Matte finish were produced in 1908, 1909 and 1911 through 1915; Satin finish proofs were made in 1908-1910. All Indian Head With Motto eagle proofs are very expensive to extremely expensive, particularly those examples finer than PR65.

Specifications:
Designer: Augustus Saint-Gaudens, with modifications by Charles Barber
Circulation Mintage: high 4,463,000 (1932), low 30,100 (1911-D). Mintage figures may not accurately reflect availability, due to gold coin recall and melting.
Proof Mintage: high 204 (1910), low 50 (1914)
Denomination: $10.00
Diameter: 27 mm, edge with 46 raised stars (48 stars from 1912 forward)
Metal Content: 90% gold, 10% copper
Weight: 16.72 grams
Varieties: A few minor die variations have been identified.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Encyclopedia of U.S. Gold Coins: 1795-1933. Ron Guth and Jeff Garrett. Whitman Publishing.
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/17/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
In 1916 Charles E. Barber’s designs for the dime, quarter, and half dollar were set aside, replaced by Adolph A. Weinman’s designs for the dime (Winged Liberty Head, or Mercury) and half dollar (Liberty Walking); and Hermon A. MacNeil’s design for the quarter. MacNeil, a noted sculptor for public works projects, placed a standing pose of Liberty on the obverse of the quarter and a soaring eagle on the reverse. His models for Liberty were likely silent film actor Dora Doscher (also known as Doris Doree) and Broadway actor Irene MacDowell. Though MacNeil’s design was a continuance of the artistic renaissance displayed on other coins of the early 20th century, one aspect of his portrayal of Liberty has been the subject of debate ever since: her partial nudity, specifically the undraped right breast. The 1896 $5 Silver Certificate had similarly exposed the female body, reportedly to the dismay of the ladies of Boston society, which resulted in some bankers refusing to handle the notes.

MacNeil’s Liberty was covered up in 1917 (thus producing the Type 2 style) not by extension of her cloth robes but by a somewhat incongruous chain mail vest, and many assume the reason for the change was public disapproval of the nudity. However, some well-respected scholars disagree, noting that no contemporary accounts of such objections are known, and that it was instead MacNeil’s decision to change the design, based on his dissatisfaction with elements of the original effort. The new portrayal may have been a message of America’s military preparedness, while others suggest changes were made without MacNeil’s approval (perhaps by Mint Engraver Charles E. Barber); the discussion is ongoing. The duality of opinion is evident in the fact that one author describes the two types as “Bare Bosom” and “Covered Bosom”, while others focus not on Liberty but instead on the change in star placement on the reverse, calling the two types No Stars Below Eagle and Stars Below Eagle.

To protect it from excessive wear from its exposed position, the date was recessed in 1925, a change considered a third type of the series by some collectors. No quarters were minted in 1922, and though occasionally alleged to exist in the Standing Liberty series, no 1931 quarters are known. Standing Liberty quarters also include a popular sub-type, that of quarters with a “Full Head” classification, which refers to the presence of details in Liberty’s head. Those details include distinguishable leaves in Liberty’s hair, distinct hairline, and evident ear detail. Some authorities suggest that the complete presence of all the rivets in the shield held by Liberty is an alternative, perhaps better indicator of a full strike. However, both head and rivet detail may not be present in the same coin, but only the presence of head detail defines the subtype. In 1932, the quarter was again modified to commemorate the bicentennial of George Washington’s birth.

The obverse displays Liberty standing in the opening of a wall or parapet, right leg resting on the base but left foot raised as if she is walking forward. Her long flowing gown drapes loosely and is wrapped around her right arm, but falls off the shoulders to reveal a chain mail armor vest. The gown is partly open at the bottom front (the hem held up by a clasp), displaying the right leg to above the knee. On many coins Liberty’s navel is clearly visible through the thin material. Her left arm holds a circular shield as if in a defensive posture; the shield displays the Union shield and several concentric rings including a circle of raised dots or rivets near the edge. Liberty’s right arm is extended outward, resting on a portion of the wall, and her hand holds an olive branch. Another loose drapery covers the bottom part of the shield, extends across the front of Liberty, and ends beneath the arm on the top of the wall.

The word LIBERTY arcs across the top of the coin, B and E separated by Liberty’s head. Both wall sections display a rectangular panel of horizontal stripes, with IN GOD at the top of the left wall and WE TRUST (the U depicted as a V) similarly located on the right wall. Thirteen five-point stars form two columns along the wall edges next to the opening, seven to the left and six to the right (the top left star follows the D in GOD). The step upon which Liberty stands displays the date in raised numerals; the date is recessed below the top edge of the step from 1925 forward, though still in raised digits. The designer’s initial M is to the right of the bottom star in the right column, and for quarters minted in Denver or San Francisco, D and S mintmarks are located to the right of the bottom star in the left column. Inside the flat rim is a concentric ornamental ring comprised of bars and dots; the ring is broken by the step that displays the date.

The center obverse shows an eagle in flight, headed to the right, wings outstretched and raised. Inside the flat rim is a concentric ring of UNITED STATES at the top, QUARTER DOLLAR at the bottom, with five five-point stars separating UNITED and QUARTER on the left and five five-point stars separating STATES and DOLLAR on the right. Three additional five-point stars are below the eagle, above QUARTER DOLLAR. OF AMERICA, in two lines and of smaller-sized letters, lies below UNITED STATES; below that text in even smaller letters is E PLURIBUS UNUM on two lines, each letter U again shown as a V.

Several hundred to a few thousand business strike Standing Liberty Type 2 quarters have been certified for each date, more for the 1920s and 1930s coins. A few hundred Full Head examples are listed for most dates and mintmarks. Prices are modest for many issues through MS63, becoming expensive to very expensive as MS64 and finer. Higher priced coins are the 1918-S, 8 Over 7, 1923-S, 1927-S, and Full Head examples. Some Full Head pieces are extremely expensive as MS64 and finer. No official Standing Liberty Type 2 proofs were made.

Specifications:
Designer: Hermon A. MacNeil
Circulation Mintage: High 27,860,000 (1920), low 396,000 (1927-S)
Proof Mintage: None officially known
Denomination: Twenty-five cents (25/100)
Diameter: 24.3 mm, reeded edge
Metal Content: 90% silver, 10% copper
Weight: 6.25 grams
Varieties: A very few identified including 1918-S, 8 Over 7; 1928-S Large and Small S; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Standing Liberty Quarters. J.H. Cline. Zyrus Press.
The Official Red Book: A Guide Book of United States Coins. R.S. Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/17/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
The silver dollar was authorized by the Mint Act of April 2, 1792, and the denomination was intended to be the standard unit of the American monetary system. Similar in size and composition to Spanish and Mexican dollars, the denomination should have been the ideal unit of commerce. However, the reality was somewhat different, and though used in foreign trade, silver dollars generally did not actively circulate in the U.S. The reasons were basic: the coins were too large and too heavy. In most parts of the country, silver dollars often made a short journey from bank vault to customers as gifts or mementos, and then back to bank vault for safekeeping. Peace dollars were the last silver dollars minted, and after the 1935 issues regular production of the dollar coin ended. However, when a sealed bank vault was opened in 1962 at the Philadelphia Mint, hundreds of thousands of Morgan and Peace dollars were found, including some scarce issues. Both the Treasury and banks freely paid out the coins until they were gone in early 1964. The Coinage Act of July 23, 1965, specified that no new silver dollars could be coined for five years, at which time the need for the denomination would be reevaluated.

That “need” apparently came from a somewhat unexpected source, the Nevada gambling casinos. Though small numbers of silver dollars were often kept as rainy-day money by non-collectors who had lived through the years of the Great Depression and WWII, after silver coins disappeared from circulation in the mid-1960s large dollar-size tokens continued to be used at casinos. Customers, however, preferred the genuine item. The March 1969 death of Dwight D. Eisenhower, the former Supreme Commander of Allied forces invading France and two-term U.S. President, and the 8-day July 1969 historic lunar mission and landing by the Apollo XI crew, prompted an October 29, 1969, House bill that proposed a dollar coin commemorating both events. Following more than a year of debate the new dollars were approved in December, 1970. Circulating Eisenhower, or “Ike”, dollars were to be minted in the same copper-nickel composition of the circulating dime, quarter, and half dollar. Silver-copper clad dollars for collectors, a composition the same as that used for the 40% silver Kennedy half dollars produced from 1965 through 1970, were also approved.

The obverse of the new dollar featured a portrait of Eisenhower, the reverse a slightly modified copy of the scene used on the Apollo 11 crew patch, which shows an eagle landing on the moon. Though seemingly benign, the original depiction of the eagle on the coin was apparently interpreted by the U.S. State Department as bearing a somewhat hostile expression; not the first time in U.S. coinage history when a design has received unexpected criticism. More controversial was an amendment to the authorizing legislation that directed a portion of the profits from the collector coins to the private Eisenhower College in Seneca Falls, New York. In spite of receiving approximately $9 million from this provision, the College closed its doors in 1983, after being in operation only since 1968. Because of a desire to produce the dollars quickly, Chief Engraver Frank Gasparro prepared the design, having already started the process in anticipation of the coin’s approval; though for unknown reasons the first dollar coins were not issued until November 1, 1971. The reverse design was modified for the 1976 Bicentennial year, as were those for the quarter and half dollar, but with production starting in mid-1975, no 1975-dated dollar coins were produced. The dollar returned to the original design for 1977 and 1978, the latter the final year of the type.

A left-facing portrait of Eisenhower is centered on the obverse; Engraver Frank Gasparro’s initials FG are on the truncation of the neck. LIBERTY arcs above the head, concentric with the flat rim, and the date is similarly placed at the bottom. IN GOD WE TRUST, in two lines, is at the bottom left. Ike dollars were minted at Philadelphia, Denver, and San Francisco; D and S mintmarks are below the neck, above the date. Bicentennial dollar coins have the dual date 1776-1976 at the bottom, the dates separated by a centered dot.

The reverse depicts an eagle with outstretched wings landing on the cratered moon, shown in part on the bottom third of the coin. The eagle clutches an olive branch in its claws. UNITED STATES OF AMERICA curves inside the rim at the top, over the blackness of space; ONE DOLLAR is at the bottom along the rim, superimposed over the moon. Circling around the eagle against the space backdrop are 13 small five-point stars. Above the eagle, below the stars, is E PLURIBUS UNUM in two lines with centered spacing dots; a small representation of earth is in space above and to the left of the eagle, below the stars. The designer’s initials FG are between the eagle’s tail and the tip of the olive branch. The Bicentennial version replaces the center image with the Liberty Bell in front of the whole disc of the cratered moon. E PLURIBUS UNUM, each word on a separate line, is located at the lower right of the bell/ moon composite. UNITED STATES OF AMERICA and ONE DOLLAR along the rim are separated by centered five-point stars. The initials DRW, for reverse designer Dennis R. Williams are below the bottom edge of the bell, to the right of the clapper.

Thousands of business strike Eisenhower dollar coins have been certified, most at grades finer than MS63, and consisting of four main types: regular copper-nickel clad, Bicentennial copper-nickel clad, regular silver-copper clad, and Bicentennial silver-copper clad. Additional varieties have been identified within these main types. Prices are modest for most issues up to Gem, and for some dates to MS66. More expensive coins at higher grades are 1971-1974 Type 1, 1972 Type 2, and 1976 Type 1. In addition, most MS67 and finer copper-nickel clad, and MS69 silver-copper clad, dollars are very expensive. Thousands of proof Eisenhower dollars have been certified, most as PR69, and most as Cameo or Deep Cameo. Prices are modest for all issues through PR69, but jump to very expensive as PR70; 1976-S Bicentennial copper-nickel clad proofs are the most expensive at this grade.

Specifications:
Designer: Frank Gasparro and Dennis R. Williams (Bicentennial reverse)
Circulation Mintage: high 113,318,000 (1776-1976 copper-nickel clad, Variety 2), low 1,883,140 (1973-S silver-copper clad)
Proof Mintage: high 4,265,234 (1971-S silver-copper clad), low 1,013,646 (1973-S silver-copper clad)
Denomination: $1.00
Diameter: 38.1 mm, reeded edge
Metal Content: Copper-nickel: outer layers 75% copper, 25% nickel; inner core is pure copper. Silver-copper: outer layers 80% silver, 20% copper; inner core 20.9% silver, 79.1% copper.
Weight: Copper-nickel clad, 22.68 grams; silver-copper clad, 24.59 grams
Varieties: Several identified including 1972 copper-nickel clad Varieties I, II, and II (low relief and high relief and other die changes); 1776-1976 copper-nickel clad Varieties 1 and 2, and 1776-1976-S Variety 1 (bold lettering and delicate lettering); 1974-D, 1976-D, and 1977-D silver-copper clad (produced in error, should have been copper-nickel clad); general copper-nickel, silver-copper, and Bicentennial versions; and other minor die varieties.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/16/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
By 1809 the half cent was not a denomination as frequently used in commerce as was the cent and various foreign coins that circulated during this era in the United States. Lowered public demand and the difficulty in securing sufficient copper blanks for production resulted in the suspension of half cent production after the 1811 mintage. Although the denomination was resumed starting in 1825, mintage was not done every year from the mid-1820s through the 1830s. No half cents were minted in 1827, 1830, or from 1837 through 1839; there were few orders and the Mint had a large quantity stockpiled. However, the Mint found another reason to produce half cents. In the early 19th century it was not unusual to give dignitaries from other countries a proof set of U.S. coins, and in 1840 Mint Director Robert M. Patterson decided to include half cents in those sets.

Engraver Christian Gobrecht was directed to produce new half cent dies for the proof coins, as well as hubs from which working dies could be produced if the need for more circulating half cents became apparent. Gobrecht had modified the John Reich/ William Kneass Matron Head cent in 1839 (apparently intended for use in 1840), and used the same basic Liberty design for his half cent. The reverse continued with very few alterations the John Reich design first used on the 1809 half cent. Both obverse and reverse have a classic simplicity, with just a few elements in the uncluttered designs. Though Braided Hair half cents were produced every year from 1840 through 1849, only starting in 1849 were the coins made for circulation- the early 1840s issues were proof only, made for the presentation sets or for collectors.

Increased demand by 1849, after several years of draw-downs from the Mint’s stockpile of 1834 and 1835 half cents, resulted in restarted mintage for circulation. But production halted in 1852, except for proofs, as demand for the denomination again weakened and sufficient 1851 half cents were on hand for distribution. Although resumed with 1853 circulation issues (but no proofs for that year) official production of the half cent ended with the 1857 pieces, by the Act of February 21, 1857. Unofficial proof restrikes of the 1840s dates and 1852 were made in the late 1850s by Mint employees, a practice halted by Mint Director James Ross Snowden in 1860, only to be resumed briefly in the late 1860s by Mint Director Henry R. Linderman; after which the dies were destroyed. After a half-century hiatus the denomination almost returned in the early 20th century, along with the three cent piece, as a result of legislation that passed the U.S. House in 1912. The bill died in the Senate, however, leaving the 1857 coins the last of the denomination.

A left-facing, neoclassical Liberty is in the center of the obverse. Curled and flowing hair is swept back in rope-like braids to a bun tied by beaded cords, with locks draped over the ear and down the back of the neck. A coronet worn above the ear and forehead displays LIBERTY. Thirteen six-point stars and the date at the bottom form a circle inside dentils located next to the flat rim. The reverse displays UNITED STATES OF AMERICA as a mostly complete circle concentric with the dentils and flat rim. Inside of that is another circle formed by a laurel branch with berries, the ends tied by a ribbon at the bottom. In the center is HALF CENT, each word on a separate line. All Braided Hair cents were minted at Philadelphia and display no mintmark.

A few hundred business strike Braided Hair half cents have been certified for each date from 1849 through 1857, except for 1852. Coins are described as Brown (BN), Red-Brown (RB), or Red (RD), with RB examples less common than BN, and RD the most scarce. Prices are modest for many issues up to and including MS63 (MS64 for BN examples), but are expensive finer than that, particularly for RB and the scarce or rare RD examples. Fewer than 20 proof Original and Restrike examples are certified for many years (more for the 1850s), also with the Brown (BN), Red-Brown (RB), and Red (RD) designations; there are also a very few Cameo pieces. All proof Braided Hair half cents are expensive, both Original and Restrike, with Original pieces generally higher priced. Examples graded PR63 and finer are very expensive, and the 1851 pieces are very expensive in all grades.

Specifications:
Designer: Christian Gobrecht
Circulation Mintage: high 147,672 (1851), low 35,180 (1857; none minted 1840-1848, and 1852)
Proof Mintage: high 275 (1857, estimated), low 25 (several years, estimated; none known for 1853)
Denomination: One half cent (005/100)
Diameter: 23 mm, plain edge
Metal Content: 100% copper
Weight: 5.44 grams
Varieties: Several known including Restrikes dated 1840 through 1849, and 1852 (Large Berries and Small Berries reverses); 1849 Large Date and Small Date; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Early American Coppers: www.eacs.org
Walter Breen’s Encyclopedia of Early United States Half Cents 1793-1857. Walter Breen. American Institute of Numismatic Research.
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing.
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/12/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
First minted in 1839, the Liberty Head half eagle, sometimes called the Coronet Head because of the coronet worn by Liberty, is considered a continuation of the influence of Neoclassicism style first seen on the half eagle in 1834. The Christian Gobrecht modification of William Kneass’ Liberty portrait was to last almost 70 years nearly unchanged, until replaced by the Bela Lyon Pratt Indian Head style in 1908. The last significant change to the Liberty Head design occurred near the end of the Civil War. During that conflict religious feeling was ascendant; few families were untouched by the mayhem and uncertainty that accompanied the war’s prosecution. Just a few weeks before the euphoria of Robert E. Lee’s surrender at Appomattox, which was followed a few days later by the horror of President Abraham Lincoln’s assassination, The Act of March 3, 1865, mandated the placement of IN GOD WE TRUST on all coins large enough to accommodate the inscription. The year 1866 saw half eagles minted both with and without the motto.

Due to hoarding and general uncertainty regarding the nation’s future, hard money circulation had all but ended during the War. The scarcity continued afterward, minimizing the need for large mintages of gold coins. However, by 1878 banks and the government resumed specie payments, half eagles were in demand, and the Mint produced large numbers of the coins. Other than in 1873 (a year of high mintage apparently due to recoinage of worn and obsolete gold pieces deposited by the Treasury), in no year from 1866 through 1877 was the total half eagle output greater than 100,000 coins; in 1875 and 1876, each year’s output was fewer than 25,000 pieces. Production surpassed one million coins for the first time in 1880 when over 4.5 million pieces were minted. Though not consistently at that level in subsequent years, mintage of Liberty Head With Motto half eagles dated from late 1870s forward was high enough that the dates are considered reasonably common today, but scarce or rare earlier than that. Proofs were made in every year of the type, but not until the mid 1890s did production reach 100 or more coins. Only proofs were minted in 1887.

On the obverse a classical Liberty faces to the left, hair bundled at the back and secured with a beaded tie, but with two strands of hair cascading down the side and back of the neck. The word LIBERTY stretches across a coronet resting above her forehead. Thirteen six-point stars encircle just inside a dentilled rim, and the date is centered at the bottom. The reverse displays an eagle with outstretched wings and a shield over its breast. The eagle clutches an olive branch in its right claw (viewer’s left) and three arrows in the left claw, though fletching is visible for only two of the arrows. UNITED STATES OF AMERICA, broken into three parts by the eagle’s wing tips, follows the periphery. The denomination of FIVE D. at the bottom completes the circle of text, separated from the U of UNITED and the last A of AMERICA by a centered dot on each side. Above the eagle, below STATES OF, is a curved banner displaying IN GOD WE TRUST. Liberty Head With Motto half eagles were minted at Philadelphia (every year except 1887), San Francisco (all years except 1889-1891, 1907-1908), Carson City (1870-1884, 1890-1893), New Orleans (1892-1894), and Denver (1906-1907); S, CC, O, and D mintmarks are located above FIVE D., below the eagle.

Several thousand business strike Liberty Head With Motto half eagles are listed in census/ population reports, more from 1878 forward, particularly those minted at Philadelphia from the late 1890s through the end of the type. Carson City, New Orleans, some San Francisco dates, and varieties are generally not as common. Several prooflike pieces have been certified. Most examples minted prior to 1878 are expensive as XF40 and finer, very expensive as MS60 and finer. With Motto half eagles minted at Carson City and New Orleans are expensive to very expensive, with some dates extremely expensive finer than MS64. With a few exceptions, Philadelphia half eagles minted later than 1878 are moderately priced through MS62, expensive to very expensive finer. Higher priced examples include 1870-CC, 1873-CC, 1875, 1878-CC, and most Gem and finer pieces. A few hundred Liberty Head With Motto proof half eagles have been certified, including Cameo and Deep Cameo examples. For many dates prior to the late 1880s fewer than 25 coins are listed in census/ population reports. Proofs from every year are expensive to very expensive, with a few extremely expensive as Gem and finer. Higher priced pieces include those proof half eagles minted prior to 1880, particularly the 1875 pieces, and 1887.

Specifications:
Designer: Christian Gobrecht; motto scroll by James B. Longacre
Circulation Mintage: high 5,708,802 (1881), low 200 (1875; none in 1887)
Proof Mintage: high 230 (1900), low 20 (1874, 1875, 1877, 1878)
Denomination: $5.00
Diameter: 21.6 mm, reeded edge.
Metal Content: 90% gold, 10% copper
Weight: 8.36 grams
Varieties: Several known including 1873 Close 3 and Open 3; 1881 Final 1 Over 0; 1901-S, Final 1 Over 0; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Encyclopedia of U.S. Gold Coins 1795-1933, Jeff Garrett and Ron Guth, Whitman Publishing.
Gold Coins of the New Orleans Mint: 1839-1909. Douglas Winter. Zyrus Press
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/07/2009

Goodacre Presentation Finish - Photos used with permission and courtesy of Heritage Auction Galleries

Description:
Dollar coins in general did not actively circulate in this country. Even the large silver “cartwheels” tended to have more value as bullion than they did as a means of commerce. Except for western and some southern states, where the coins saw use in day-to-day business, silver dollars rarely left bank vaults except when requested for use as gifts or prizes. The last silver dollars for general circulation were minted in 1935, with the denomination resurrected in 1971 in the form of the Eisenhower dollar, which in turn was replaced by the Susan B. Anthony dollar in 1979. The latter coin marked a change in the physical size of the dollar, no longer Morgan-dollar sized, but reduced to the approximate size of the quarter. “Susies” were produced for only four years, continuously through 1981, and then again in 1999. In contrast to the general public, who soundly rejected the concept, Congress nonetheless remained enamored of the dollar coin, initiating a process for minting new dollars by passing the United States Dollar Coin Act of 1997. This act seems to have prompted the last issue of the Susan B. Anthony dollars because of concern that with promotion of a new dollar coin, demand would increase to the point that a shortage would occur before those new dollars were minted.

To avoid confusing the new dollar with quarters, one of the reasons the Anthony dollar was unpopular, the law specified that the new dollar coin be designed so as not to look like a quarter. Treasury Secretary Robert E. Rubin created a Dollar Coin Design Advisory Committee to evaluate design concepts, specifying that the new dollar represent one or more women, though not any living person. In June, 1998, the committee recommended that the obverse represent Sacagawea, a Native American Shoshone woman who was interpreter and guide to Meriwether Lewis and William Clark on their exploratory trek to the Pacific Ocean. Artist Glenna Goodacre created the obverse design, showing Sacagawea (in three-quarter profile) carrying her infant son Jean Baptiste on her back. Though no portrait of Sacagawea is known, Goodacre used as a living model Randy’L Teton, a modern woman from the same tribe. The reverse was designed by U.S. Mint Sculptor/ Engraver Thomas D. Rogers Sr. Apparently deciding that the reason the Susan B. Anthony dollar failed to circulate was inadequate marketing, the U.S. Mint made a concerted effort to persuade the public of the usefulness of the new coins.

Along with extensive television commercials, print ads, and convention presentations, the Mint collaborated with retail giant Walmart, who took the initial delivery of the coins to use as change from store purchases. General Mills placed one of 5,500 Sacagawea dollars in every 2,000th box of Cheerios. In spite of these efforts, this dollar coin like its recent predecessors failed to circulate. Even the marketing went slightly askew; use of the phrase “golden dollar” by the Mint caused some to believe the coins actually contained gold, not realizing the expression referred only to the color of the manganese-brass outside layers. Interestingly, 39 22-karat gold Sacagawea dollars actually were struck at West Point in 1999 (though dated 2000), but were not for circulation. Twelve of the real gold dollars went to space on the shuttle Columbia in July, 1999, and after returning to earth were placed in Fort Knox; the rest were melted. Mintage of circulating dollars dropped significantly in 2002, from which point forward the coins have been produced primarily for collectors. Starting in 2009, by decree of the 2009 Native American $1 Coin Act, Sacagawea dollars will have yearly changes of the reverse design to honor other Native Americans, and new edge markings. Though the Mint began producing Presidential dollar coins in 2007, the Native American Coin Act also mandates that twenty percent of the total dollar coin mintage in any year be Sacagawea dollars.

The obverse features a centered portrait of Sacagawea, body oriented away from the coin but head turned back to the right to face the viewer. Dressed in native clothes, she carries on her back her sleeping infant son. LIBERTY is at the top, concentric with a wide flat rim, IN GOD WE TRUST in two lines is to the left of the portrait, and the date is at the lower right of the portrait (the date was moved to the edge starting in 2009). Sacagawea dollar were minted in Philadelphia and Denver for circulation, and San Francisco for proofs; P, D, and S mintmarks are centered below the date. The designer’s initials, GG, are located on the lower part of the folded cloth wrapped around the infant. Through 2008 the reverse features a centered flying eagle, surrounded by a circle of 17 small five-point stars (representing the number of states at the time of the Lewis and Clark expedition), separated into three groups by the eagle’s wing tips and tail feathers. UNITED STATES OF AMERICA at the top and ONE DOLLAR at the bottom arc just inside the flat rim. E PLURIBUS UNUM is above and to the left of the eagle, and the designer’s initial TDR are just to the right of the last R in DOLLAR. The reverse design and text were changed starting in 2009, with designs that represent Native American contributions to the history of the United States. Sacagawea dollars from 2000 through 2008 have a plain edge; starting in 2009 the year of minting, mintmark, E PLURIBUS UNUM and IN GOD WE TRUST were moved to the edge.

Business strike Sacagawea dollars are considered common, with most of the thousands of certified examples graded as MS64 and finer. Many prooflike examples have been identified. Prices are very modest through MS67, with some pieces expensive to very expensive as MS68 and finer. The Goodacre Presentation pieces are modestly priced to MS67, expensive finer. The most expensive examples are the 2000-P “Cheerios” pieces, expensive as MS63 to very expensive as MS67 and finer. Thousands of proof Sacagawea dollars have been certified, some as Cameo but most as Deep Cameo. Prices are modest even as PR70, though 2001 and 2002 issues are slightly more expensive. The 2000-S PR70 pieces are the most expensive.

Specifications:
Designer: Glenna Goodacre, obverse; Thomas D. Rogers Sr., reverse
Circulation Mintage: ongoing; declining from a high of 767,140,000, 2000-P, to about 2 million to 4 million per year thereafter
Proof Mintage: ongoing; generally about 2 million to 4 million per year
Denomination: $1.00
Diameter: 26.5 mm, plain edge; starting in 2009, edge with year of minting, mintmark, E PLURIBUS UNUM and IN GOD WE TRUST
Metal Content: Outer layers of 77% copper, 12% zinc, 7% manganese, and 4% nickel (manganese-brass); inner core is pure copper
Weight: 8.1 grams
Varieties: A few known, including 2000-P Goodacre Presentation Finish (Sculptor Goodacre was paid with a group of 5,000 of the coins with a special finish); 2000-P Boldly Detailed Tail Feathers (also called the “Cheerios” Dollar, though it is uncertain whether all dollars inserted into Cheerios boxes are of this style); “muled” pieces with a Washington quarter obverse and Sacagawea dollar reverse; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
United States Small Size Dollar Coins: www.smalldollars.com
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.

Last Updated : 07/07/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
“I think our coinage is artistically of atrocious hideousness. Would it be possible, without asking permission of Congress, to employ a man like Saint-Gaudens to give us a coinage that would have some beauty?”. So wrote President Theodore Roosevelt to Secretary of the Treasury Leslie Mortier Shaw in December, 1904. The drama of Roosevelt’s interaction with Saint-Gaudens and Chief Engraver Charles E. Barber has been many times retold, in part because the coin has been a favorite of both collectors and the general public since its release in 1907. The first examples were produced in what is described as Ultra High Relief, extraordinary pattern pieces of which it is likely fewer than 20 survive today. A revised design, labeled High Relief, had a greater mintage, more than 11,000 coins. This version was most likely a pattern that, through Roosevelt’s insistence that the coin be released, effectively became a regular issue.

Roosevelt was enamored of high relief designs. In a letter to Saint-Gaudens, he noted that “I was looking up some gold coins of Alexander the Great today, and I was struck by their high relief”, and then posed a question to the renowned sculptor: “Would it be well to have our coins in high relief É?” Saint-Gaudens eagerly took up “our scheme”, as he phrased it, developing models both for the double eagle and the eagle. Mortally stricken with cancer, Saint-Gaudens lived long enough to see only the Ultra High Relief double eagle patterns minted. As the coin entered production, technical concerns became paramount for Chief Engraver Charles E. Barber, who lowered the relief on the design to enable high-speed minting of the issue. Barber has been much maligned for his efforts (and his temperament, for which the criticism has apparently been deserved), but as scholar Q. David Bowers points out “a mint is a coin factory, not an artist’s studio.” Nonetheless, even in lower relief the Saint-Gaudens double eagle is acclaimed as one of the most beautiful and artistic U.S. coin designs.

The 1907-1908 double eagles do not have the motto IN GOD WE TRUST, which became another issue even though the Coinage Act of 1890 did not include that motto in the list of required wording to be placed on U.S. coins. Some attribute the lack of the motto to a Presidential order, Roosevelt of the belief that inscribing God’s name on a coin was a blasphemous act; a coin could for example be used not only for the offering plate but also for criminal and other nefarious purposes. Regardless of the reason for the omission, the motto was restored (it was on the previous Liberty Head type) later in 1908 by Congressional action, which brought the double eagle into compliance with the Act of March 3, 1865.

The obverse features a full-length image of Liberty, facing forward with an olive branch in her left hand and a raised torch in her right hand. Draped in a long, flowing gown, her hair is swept to the left. Some describe her as striding forward, but she appears instead to be in a pose; the foot of her left leg rests on a large rock (in front of which are oak leaves), difficult terrain through which to be walking. To Liberty’s right, at the bottom of the coin, the sun is visible behind a depiction of the U.S. Capitol building. Rays from the sun extend upward from behind the Capitol and Liberty, to about the level of Liberty’s waist. At the top of the coin is the word LIBERTY, the torch separating I and B. Forty-six tiny six-point stars (representing the number of states) are arrayed just inside the flat rim, forming a circle broken only by the rock and oak leaves.

The date, in ‘Arabic’ numerals rather than the original Roman style, is at the right bottom, above the rock, and a monogram of the designer’s initials ASG is below the date. Without Motto Saints were minted in Philadelphia and Denver; the D mintmark is located above the date. The crest of the sun appears again on the reverse, at the bottom with rays extending upward nearly to the top of coin behind a majestic left-facing eagle, wings uplifted in flight. At the top is UNITED STATES OF AMERICA in a concentric arc next to the flat rim, with TWENTY DOLLARS just below in another arc. The words of both phrases are separated by centered triangular dots, and the text is also in front of the sun’s rays. E PLURIBIS UNUM in raised letters, with thirteen separating raised stars, is on the edge of the coin.

Thousands of Without Motto Saint-Gaudens business strike double eagles have been certified, the greater number of the 1908 Philadelphia issue. Prices are modest for pieces through MS62, often trading not much above bullion value, while coins graded MS63 and finer are expensive to very expensive (MS67 and finer). The 1908-D is very expensive as MS65 and finer. Fewer than seven proofs of the type have been certified, all dated 1907, and designated by some as having either a satin or matte finish; all are extremely expensive.

Specifications:
Designer: Augustus Saint-Gaudens and Henry Hering (Saint-Gaudens’ collaborator), with modifications by Charles E. Barber
Circulation Mintage: high 4,271,551 (1908), low 361,667 (1907)
Proof Mintage: 40-50 (1907 only, estimated)
Denomination: $20.00, Twenty dollars, Double Eagle
Diameter: 34 mm, edge with raised text and symbols- E PLURIBUS UNUM, the words separated by thirteen stars
Metal Content: 90% gold, 10% copper
Weight: 33.436 grams
Varieties: A very few die varieties have been identified for both business strikes and proofs.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Friends of Saint-Gaudens: www.sgnhs.org
The Coinage of Augustus Saint-Gaudens as Illustrated by the Phillip H. Morse Collection. James L. Halperin, Mark Van Winkle, Jon Amato, Gregory J. Rohan. Heritage Auctions, Inc.
The Official Red Book: A Guide Book of Double Eagle Gold Coins. Q. David Bowers. Whitman Publishing.
Encyclopedia of U.S. Gold Coins, 1795-1933. Jeff Garrett and Ron Guth. Whitman Publishing.
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 06/29/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
During World War II nickel metal was a strategic war material for munitions, and the supply of the raw material was not sufficient to satisfy the requirements of both the War Department and the Mint; and war needs came first. In the search for a replacement for nickel an issue that was first raised in the transition from the Liberty Head nickel to the Indian Head (Buffalo) nickel once again became significant: the coins needed to work in vending machines. To catch slugs and other fakes, vending machines not only checked a coin’s weight but also its electrical resistance. Any substitute for nickel in the five cent coin would need be a metal in an alloy that met both requirements. Following several trials, metallurgists discovered that a copper, silver, and manganese alloy met the weight and electrical specifications. The new alloy was authorized by the Act of March 27, 1942, and the first coins were produced in October of that year. Thus, five cent coins were minted without their namesake constituent- there was no nickel in the nickel. The wartime “nickels” marked the first time silver had been used in a five-cent denomination since the last half dime was minted in 1873.

To distinguish the silver nickels from the regular copper-nickel composition, for an anticipated but unfulfilled removal from circulation after the war, the mintmark was placed above the dome of Monticello on the reverse. For the first time, a P mintmark was used to signify coins minted at Philadelphia. The wartime alloy was apparently a difficult blend to make, as lamination defects and irregular oxidation effects are not uncommon. Whether through carelessness or frugality, some 1942-P and 1943-P nickels were produced on copper-nickel blanks, and some 1946 examples were minted on silver composition blanks; a situation not unlike that of the 1943 bronze cents (which should have been produced on zinc-coated steel) and 1944 steel cents (which should have been produced in bronze). In the early 1950s, 1944 copper-nickel coins without the P mintmark were discovered in circulation, but these were determined to be counterfeits. Silver alloy nickels circulated for many years after the end of WWII, to be withdrawn in the mid-1960s when increased silver prices resulted in a bullion content that exceeded the denomination value.

The obverse displays a left-facing portrait of Jefferson, who wears a coat and a wig representative of the period. Inside a flat rim is IN GOD WE TRUST to the left of the portrait, and LIBERTY and the date to the right, the last two separated by a small centered five-point star. The reverse shows an elevation view of the front of Monticello, with the word MONTICELLO below. Around the smooth rim are E PLURIBUS UNUM at the top and UNITED STATES OF AMERICA at the bottom; FIVE CENTS in smaller letters forms a concentric arc above STATES OF and below MONTICELLO. Wartime nickels were minted in Philadelphia, San Francisco, and Denver; P, S, and D mintmarks are located above the building, below E PLURIBUS UNUM.

Thousands of business strike wartime Jefferson nickels have been certified, and the count includes a few prooflike pieces and hundreds of examples with Full Steps designation (referring to the visibility of the steps on Monticello, designated as either Five Full Steps or Six Full Steps). Most examples are graded as AU58 or finer, although there are many examples of the 1943-P, 3 Over 2, at lower grades. Higher priced pieces include MS64 and finer 1943-P Doubled-Die Obverse, 1943-P 3 Over 2, and 1945-P Doubled-Die Obverse; and Full Steps examples finer than MS63. Proofs of the type were minted only at Philadelphia in 1942, and a few thousand have been certified, a few designated Cameo or Deep Cameo. Proofs are modestly priced through PR67, expensive to very expensive finer. Cameo and Deep Cameo pieces are expensive finer than PR64.

Specifications:
Designer: Felix Schlag
Circulation Mintage: high 271,165,000 (1943-P), low 15,294,000 (1943-D)
Proof Mintage: 27,600 (1942-P only)
Denomination: Five cents (5/100)
Diameter: 21.2 mm, plain edge
Metal Content: 56% copper, 35% silver, and 9% manganese
Weight: 5 grams
Varieties: A few known including 1943-P, 3 Over 2; 1943-P, Doubled-Die Obverse; 1943-P, Doubled Eye; 1945-P, Doubled-Die Reverse; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
The Official Red Book: A Guide Book of Buffalo and Jefferson Nickels. Q. David Bowers. Whitman Publishing.
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 06/29/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
Within a few days of the assassination of President John F. Kennedy on November 22, 1963, Mint Director Eva Adams notified Chief Engraver Gilroy Roberts of the Treasury Department’s intent to place Kennedy’s portrait on one of the U.S. silver coins. The tragic death of the dynamic and popular President was to result in the renaming of many public buildings and roads after him, and the same expression of grief created a desire to honor the slain President on a coin. The recognition of a former president on a circulating coin was hardly unprecedented, having begun with the placement of Lincoln’s portrait on the cent in 1909 (died 1865), followed by Washington on the quarter in 1932 (died 1799), Jefferson on the nickel in 1938 (died 1826), and Franklin Roosevelt on the dime in 1946 (died 1945). Roosevelt’s portrait was added to the dime only one year after his death; and there was considerable pressure to put Kennedy’s portrait on a coin as quickly as possible.

Several of the other circulating coins were considered for the memoriam but all were rejected for a variety of reasons. Jacqueline Kennedy, the President’s widow, was not in favor of replacing the Washington portrait on the quarter. Though considered, silver dollars had not been minted for circulation since 1935 (although in 1964 Peace dollars were minted again, none of which circulated and all of which were presumably destroyed). Apparently no serious consideration was given to changing the portraits on the cent, nickel or dime. Director Adams, on or near November 27, informed Engraver Roberts that the half dollar was the choice, and that the head and eagle that appeared on Kennedy’s inaugural medal were to be the prototypes for the new coin. In spite of a nationwide coin shortage at the time, and with plans for the Kennedy coin well along, the Treasury Department did not want to issue 1964-dated Franklin half dollars. The short schedule from plan to implementation was accomplished because the original models for the Kennedy medal were available, and both Chief Engraver Roberts (obverse) and Assistant Engraver Frank Gasparro (reverse) were accomplished artisans.

One last potential obstacle was the Act of September 26, 1890, which mandated a minimum of 25 years between coin design changes, unless otherwise authorized by Congress. The Franklin half had been minted only since 1948, but Kennedy’s popularity along with promotion by President Lyndon B. Johnson were sufficient to secure Congressional authorization for the change. Hundreds of millions of Kennedy half dollars were minted in 1964, significantly more than the total number of Franklin halves produced in 1963, but nearly all were saved by collectors (including those who wanted only a souvenir of the late President) and investors; very few circulated. The 1964 half dollar was the last business strike 90 percent silver half dollar. From 1965 through 1970, and again in 1976 for the Bicentennial, 40 percent silver Kennedy halves were made in a silver-copper clad composition, and from 1971 forward in the same copper-nickel clad composition used for the dime and quarter since 1965. Silver proof Kennedy half dollars have been minted yearly since 1992.

A left-facing portrait of Kennedy, slightly high on the flan, occupies the center of the obverse. The word LIBERTY, BER partially obscured by the top of Kennedy’s head, follows to the inside of the flat rim around slightly more than the top half of the coin. The date is at bottom, with widely spaced numerals concentric to the rim. IN GOD WE TRUST, in two sections separated by the tip of the neck, is in a horizontal line above the date. On the neck truncation is a monogram of Gilroy Robert’s initials GR. The reverse displays the Presidential Coat of Arms in the center: an eagle with outstretched wings, shield over the body, left claw (viewer’s right) holding a bundle of arrows, the right an olive branch, and in its beak the end of a curved banner displaying E PLURIBUS UNUM. Between the left wing and the eagle’s head are four tiny five-point stars, joined by nine more in an arc above the banner. Above those nine stars is an arc of thirteen connected dot-like clouds. Extending upward from the top of the eagle through the clouds are sun-like rays. Concentric to the flat rim is UNITED STATES OF AMERICA at the top and HALF DOLLAR at the bottom, the two phrases separated by centered dots. Between the text and the eagle is a concentric circle of 50 small five-point stars. Frank Gasparro’s initials FG are between the eagle’s tail and the left leg. Silver Kennedy half dollars were minted at Philadelphia and Denver; the D mintmark is to the left of the bottom tip of the olive branch.

A few thousand business strike silver Kennedy half dollars have been certified, more from the Philadelphia Mint. Prices are modest through MS66, expensive as MS67, and very expensive as MS68. Special Mint Set 1964 halves are expensive at lower grades, very expensive as MS67 and finer. Several thousand proof silver 1964 Kennedy halves have been certified, including many as Cameo and Deep Cameo. Proofs are modestly priced through PR69, expensive as PR70; Deep Cameo 1964 examples are expensive as PR69. Heavily Accented Hair Deep Cameo pieces are expensive as PR66 and finer.

Specifications:
Designer: Gilroy Roberts, obverse; Frank Gasparro, reverse
Circulation Mintage: high 273,304,004 (1964), low 156,205,446 (1964-D)
Proof Mintage: high 3,950,762 (1964 only)
Denomination: Fifty cents (50/100)
Diameter: 30.6 mm; reeded edge
Metal Content: 90% silver, 10% copper
Weight: 12.50 grams
Varieties: A few known, including 1964 Heavily Accented Hair (proofs only; individual hairs are more apparent), 1964 and 1964-D Doubled Die Obverse; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 06/29/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
Charles Barber’s quarter dollar design was introduced in 1892, a beneficiary of the provision of the Mint Act of 1890 which allowed for the design of a coin to be changed every 25 years. Though not mandated by law, Barber’s designs for the dime, quarter, and half dollar were set aside in 1916. Mint Director Robert W. Woolley had invited three renown sculptors outside the Mint to produce designs for all three denominations, possibly intending that each coin would display the efforts of a different artist. However, Adolph A. Weinman captured two of the three prizes, for the dime and the half dollar. Hermon A. MacNeil’s design was chosen for the quarter. MacNeil was a well-known sculptor, particularly of Indian subjects, but he had also produced sketch models for the Word’s Columbian Exposition held at Chicago in 1893, work for the President William McKinley Memorial in Columbus, Ohio, and sculptures for other public projects.

MacNeil’s design for the quarter was representative of the artistic vigor of the early 20th century, and he joined a select group of artists who efforts were prominently displayed on coins of the period. The list of those designs includes the Lincoln cent; the Indian Head (buffalo) nickel; the previously mentioned Weinman Winged Liberty Head (Mercury) dime and Liberty Walking half dollar; the incuse Indian Head quarter eagle and half eagles; Saint-Gaudens’ Indian Head eagle and eponymous double eagle; and several commemorative issues such as the Panama-Pacific Exposition silver and gold pieces. The model for Liberty on the quarter was likely a composite of silent film actor Dora Doscher (also known as Doris Doree) and Broadway actor Irene MacDowell; the latter’s husband apparently disapproved of the pose. The reason for the disapproval was likely the same as that which has been the subject of debate ever since: the partial nudity of Liberty, specifically the undraped right breast.

The 1896 Silver Certificate had a similar display of partial nudity, reportedly causing consternation and disapproval from ladies of Boston society, which resulted in some bankers refusing to handle the notes. MacNeil’s Liberty was covered up in 1917, remaining so through the end of the series, producing two types of the same basic design. Standing Liberty quarters also include a popular sub-type, that of quarters bearing a “Full Head” classification, which refers to the presence of details in Liberty’s head. Those details include distinguishable leaves in Liberty’s hair, distinct hairline, and evident ear detail. Some authorities suggest that the complete presence of all the rivets in the shield held by Liberty is also indicative of a full strike. However, both head and rivet detail may not be present in the same coin, but only the presence of head detail defines the subtype.

The obverse displays Liberty standing in the opening of a wall or parapet, right leg resting on the base but left foot raised as if she is walking forward. Her long flowing gown drapes loosely and is wrapped around her right arm, but falls off the shoulders exposing the right breast. It is partly open at the front (the hem held up by a clasp), displaying the right leg to above the knee. On many coins Liberty’s navel is clearly visible through the thin material. Her left arm holds a circular shield as if in a defensive posture; the shield displays the Union shield and several concentric rings including a circle of raised dots or rivets near the edge. Liberty’s right arm is extended outward, resting on a portion of the wall, and her hand holds an olive branch. Another loose drapery covers the bottom part of the shield, extends across the front of Liberty, and ends beneath the arm on the top of the wall.

The word LIBERTY arcs across the top of the coin, the L partially covered by the olive branch, and B and E separated by Liberty’s head. Both wall sections display a rectangular panel of horizontal stripes, with IN GOD at the top of the left wall and WE TRUST (the U depicted as a V) similarly located on the right wall. Thirteen five-point stars form two columns along the wall edges next to the opening, seven to the left and six to the right (the top left star follows the D in GOD). The step upon which Liberty stands displays the date in raised numerals. The designer’s initial M is to the right of the bottom star in the right column, and for quarters minted in Denver or San Francisco, the D or S mintmark is located to the right of the bottom star in the left column. Inside the flat rim is a concentric ornamental ring consisting of two raised angular dots alternating with a short raised bar; the ring is broken by the step that displays the date.

The center obverse shows an eagle in flight, headed to the right, wings outstretched and raised. Inside the flat rim is a concentric ring of UNITED STATES at the top and QUARTER DOLLAR at the bottom, with seven five-point stars separating UNITED and QUARTER on the left and six five-point stars separating STATES and DOLLAR on the right. Centered dots separate the two words of both the legend and the denomination. OF AMERICA, in two lines and of smaller letters, lies below UNITED STATES; below that text is E PLURIBUS UNUM on two lines; E and PLURIBUS are also separated by a center dot.

Several thousand business strike Standing Liberty Type 1 quarters have been certified, more for 1917, particularly Philadelphia issues. Hundreds of Full Head examples are listed for each date and mintmark. Reflecting mintage totals, 1916 quarters are the most expensive Type 1 quarters, very expensive as XF40 and finer; Premium Gem and Superb Gem Full Head examples are extremely expensive. Type 1 1917 quarters are modestly priced to MS64, expensive finer. Full Head 1917-S Type 1 quarters are expensive finer than MS63. No Standing Liberty Type 1 proofs were officially issued; satin proofs (possibly Specimens) have been reported for 1917, though none are listed in census/ population reports.

Specifications:
Designer: Hermon A. MacNeil
Circulation Mintage: High 8,740,000 (1917), low 52,000 (1916)
Proof Mintage: None officially known, though satin proof or specimen 1917 examples are reported
Denomination: Twenty-five cents (25/100)
Diameter: 24.3 mm, reeded edge
Metal Content: 90% silver, 10% copper
Weight: 6.25 grams
Varieties: None identified.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Standing Liberty Quarters. J.H. Cline. Zyrus Press.
The Official Red Book: A Guide Book of United States Coins. R.S. Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 05/10/2009