1866 Liberty Seated Half Dime Proof : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

While Robert E. Lee surrendered command of the Army of Northern Virginia at Appomattox Courthouse on April 9, 1865, the American Civil War did not officially end until August 20, 1866, when President Andrew Johnson issued a proclamation of peace. For the South, the term “peace” hardly described daily life in a society living with the repercussions of its rebellion and subsequent defeat.

To turn the page, the Federal Government instituted a series of policies to reintegrate the Southern states, rebuild its battle-scarred cities, and integrate freed Blacks, who made up 30% of the Southern population, into the American political system. Sadly, these efforts were met with steadfast resistance and violence from Southern elites and working-class Whites, who saw the rise of Black economic and political power as a threat to their freedom and liberty. Three amendments to the United States Constitution expanded freedom and the franchise to millions of people; in practice, it would take until the Civil Rights Act of 1964 to fully protect the rights of Black Americans.

Much of this complicated tapestry of American history was yet to play out, and for a generation of Americans who had spent the last five years in a state of uncertainty, conflict, and privation, the end of hostilities between the states was met with much relief.

A sign of this optimism played out with an important design change to American coinage.

In 1864, the United States Mint issued a Two-Cent Piece, a copper coin that was meant to circulate at a time when few American coins did. That denomination was the first to carry the motto IN GOD WE TRUST, a pious message to soothe the spirits of the deeply religious American people at a most trying time. In 1866, the use of that motto expanded to the quarter, half dollar, silver dollar, half eagle, eagle, and double eagle. As a result, demand for Proof coins increased by 45% for the silver denominations and 20% for the gold ones.

The denominations that did not undergo design changes were deemed too small to fit the additional text. For silver coins, the designs of the half dime and dime were unchanged.

The 1866 Liberty Seated Half Dime Proof in Context

Mint records indicate that 725 1866 Liberty Seated Half Dime Proofs were struck. These coins were produced with a brilliant finish, and coins struck with fresh properly prepared dies may exhibit some degree of cameo frost.

NGC and PCGS have combined to report 438 grading events for the date. CAC has approved 44 of these coins as strong for the grade and certified one. This represents just over 60% of the total mintage but likely overstates the number of coins due to unreported crossovers and resubmissions. Suffice it to say, at least 50% of the original mintage likely survives, with most of these falling in the Proof 63 to Proof 64 grade range.

The finest examples fall in the Proof 67 or Proof 68 grade levels. No coin with Deep Cameo/Ultra Cameo has graded finer than Proof 67+. The sole finest at PCGS upgraded from 67 to 67+ and was likely placed in the Bob R. Simpson Collection by Legend Numismatics. Likewise, the finest known NGC PF67UCAM was an upgrade from a PCGS PR66DCAM coin that crossed over in 2011.

Market Data and Noteworthy Specimens

Top Population: PCGS PR67+DCAM (1, 11/2024), NGC PF67UCAM (1, 11/2024), and CAC PR67DCAM (2:0 stickered:graded, 11/2024).

• NGC PF68 #274451-030: P. Kaufman; Heritage Auctions, August 2, 2012, Lot 3163 – $14,100. P. Kaufman on insert. Blue toning throughout with apricot and purple highlights.
• PCGS PR67+DCAM CAC #40323113: As PCGS PR67DCAM CAC #31398417. Heritage Auctions, January 29, 2015, Lot 3069 – $19,975. As PCGS PR67DCAM CAC #40323113. “The Bob R. Simpson Collection, Part I,” Heritage Auctions, September 17, 2020, Lot 10042 – $19,800. Simpson novelty insert. Upgraded one-half point.
• NGC PF67UCAM #3551175-002: As PCGS PR66DCAM #06648193. Heritage Auctions, September 24, 2010, Lot 5094 – $6,900. As NGC PF67UCAM #3551175-002. Stack’s Bowers, August 13, 2011, Lot 8271 – $9,775. Crossed to NGC, where the coin upgraded by one point; Heritage Auctions, October 18, 2012, Lot 3867 – $9,693.75; Heritage Auctions, January 2019, Lot 3037 – $5,280; Heritage Auctions, January 11, 2023, Lot 3123 – $7,500.
• NGC PF67 #631002-001: “The Sun Tzu Collection,” Heritage Auctions, August 2, 2017, Lot 3460 – $6,756.25. Warm golden toning. Deep cameo reverse.
• PCGS PR67 #10003938: Heritage Auctions, August 8, 2001, Lot 5657 – $6,325.
• PCGS PR66DCAM #25304866: Heritage Auctions, August 5, 2014, Lot 3439 – $6,168.75. Dark spot above LIBERTY on shield.

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Coin Specifications

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