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An extremely rare half-dollar coin, dating from 1838, is now valued at as much as $500,000, is set for auction this week.
The 1838-O Capped Bust half dollar is one of the nine that are known to exist, is, according to the auction firm Stack’s Bowers Galleries. No more than 20 tokens have been created for the first edition of the half-dollars of the then newly-opened, the New Orleans Mint, it said in a statement via e-mail to Fox News.
VERY RARE, 1894 DIME, ONCE IN THE HANDS OF JERRY BUSS SOLD IT FOR $1.3 M
The 1838-O Capped Bust Half Dollar is one of the nine, who are well-known.
(Stack’s Bowers Galleries)
“This particular coin has been established for the manufacture of coins of different denominations at the time, but his main focus was the 50-cent piece, and that it was necessary to put it in the power of the variable in terms of quality of Latin American silver coins, with a sufficient quantity of United States coins, suitable to the world of banking and commerce,” laid the Stack Bowers Galleries.
In the gallery, and went on: “However, the technical problems and the spread of yellow fever in the region is limited to the production of the currency for a year, and very few were made as a result of it. Now, with the 1838-O half dollar is one of the most sought-after coins by collectors and connoisseurs because of their rarity, and this one is one of the best examples available.”
A rare half-dollar has been off the market since the mid-1980’s. It will be sold by auction at the Whitman Baltimore Winter Expo at the Baltimore Convention Center on Oct. 15.
SCHOOL CHILDREN UNCOVER 1600-YEAR-OLD GOLD COIN
To the front of the 1838-O Capped Bust Half-Dollar coin. (Stack’s Bowers Galleries)
“This is one of those coins that any serious collector is dreaming of acquiring it,” said Brian Kendrella, president of Stack’s Bowers Galleries, in a statement. “It almost seems like it was destined to be a collector’s item from the day it was minted.”
An ultra-rare 1894 penny, one of only 24 minted, and once the property of the former Lakers owner Jerry Buss, who was recently sold at auction for $1.32 million, including the buyer’s commission.
To the rear of the 1838-O Capped Bust Half-Dollar coin. (Stack’s Bowers Galleries)
In 2016, an 1894-S dime sold for $2 million at a Florida auction.
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The Associated Press contributed to this article. Follow James Rogers on Twitter @jamesjrogers