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1854 O S.S. REPUBLIC ARROWS SEATED LIBERTY HALF DOLLAR

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Price: $1,330.00
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Item Number: NK10684

1854 O S.S. REPUBLIC  ARROWS SEATED LIBERTY HALF DOLLAR

Minted to correct an imbalance when silver was actually worth more than gold! These scarce Variety 3 Arrows at date, No Rays silver coins were only minted for two years in 1854 -1855

 
The coin market is not only driven by supply and demand, but also by the idea of the exceptional. Collectors believe in the power of firsts, exclusivity and limited editions. The collectible value of a coin is the date, rarity, condition, mint mark and provenance of the coin.  The California gold rush of 1849 set up a dynamic where silver coins were more valuable than gold coins. Two-hundred half dollars melted into bullion would buy not $100 in gold but $106.60. This gold could then be exchanged at face value for more silver coins. By 1853 silver coins had a higher metal value than monetary value and melting was widespread.

 
To correct this imbalance the weight of Half Dollar coins was reduced by seven percent. In order to inform the public about this change, the design of the coin was modified and arrowheads were placed alongside the date and rays around the eagle. The arrows remained in place for three years, but the rays were removed in 1854 because of the difficulty in striking the coins on the steam presses of the day.
 

Liberty Seated Half Dollars were struck from 1839 -1891. Your variety 3 coins were only struck for two years in 1854 -1855. Their provenance comes from the SS Republic shipwreck, a Civil War-era side-wheel steamship that sank in 1865 after battling a hurricane for two days. At the time, she was en route from New York to New Orleans carrying a large cargo of silver and gold coins and a stunning variety of everyday goods to help rebuild New Orleans’ ailing post Civil War economy. 137 years after she sank, more than 51,000 rare coins and over 14,000 artifacts were recovered from 1,700 feet beneath the ocean; Your NGC certified coins come from the largest treasure trove of classic U.S. coins in history.

Specifications

• Date: 1854
• Metal: 12.44 grams silver
• Purity: .900
• Diameter: 30.6 mm
•Grade/Condition: NGC Shipwreck Effect
• Mint Mark: O
• Service: NGC