Wednesday, May 9, 2012

US Half Cents: Why You Should be Collecting Me?

Some long time numismatists would argue the collectibility of half cents largely because they are a mere shadow of the more widely sought after large cent denomination coins.  I would tend to disagree as both denominations hold their own unique pedigree in the coin collecting hobby.  Half cents, while sharing most of the same design characteristics in it's 64 year tenure, is a completely approachable type set from a budget standpoint.  Comparable years to the large cents will generally sell for 30-40% less for the mid-grade type pieces.  Which makes buying popular Draped Bust and Classic Head types more affordable and they are the most popular design elements in the entire run.  For instance, try buying a VF graded Classic Head large cent in it's populous year (1810?) compared to say, and an 1828 Classic Head example in the half cent of the same grade.  It's a near night and day cost comparison, and we're talking hundreds of dollars!  So as can any collector see, it's truly a budget conscious type for those wanting the legacy of 200+ year old coinage.  Advantage: Half Cents!

The next great anomaly for half cents, is its low cost availability for its itsy-bitsy mintage figures.  An 1803 half cent is reported to have less than 100,000 pieces produced in it's time.  What you may not know, is that nice graded pieces command no more than $100-150 for VF-ish grades.  The same goes for the short lived braided hair range of half cents, at the most there was more than 100k pieces produced for only a couple years (1851 & 1853).  The prices might seem quite a bit more for the braided hair cents, but look at how much higher grade pieces go for (XF+) and decide that it is a more appealing item to have and collect than comparable large cents.  Most braided hair pieces were at one point hoarded and there are lots of high-end condition pieces available in the secondary market at super affordable prices.  Collectors will clearly see the difference in cost for the grade and overall mintage figures with little online auction research.  Advantage: Half Cents again!

And finally, collectors can have their cake and eat it as well, these half cents are Sheldon/Newcomb attributable too!  Early draped bust coinage for the copper denoms, have many die pairings and varieties that aficionados yearn for.  General armchair cent collectors usually don't pay too much attention to Sheldon or Newcomb attributions, but cherry pickers make their living doing this as these attributions sell for a lot bigger money than perceived Red Book pricing to the right collectors.  Properly attributed half cents sell real well in the secondary market and collectors of such pieces have been paying top dollar for the rarity that eludes them.  Pick up a book like Penny Whimsy if you plan on trying out old copper and you won't go wrong.  It's the ultimate resource and half cent collectors will find plenty of reasons why it's a no-brainer collectible.  Advantage: Tie.

So all in all, at a cost perspective to collectibility standpoint, half cents no doubt takes home the golden trophy. Low mintage, affordable grades, and the same affinity of design as the large cents, are you convinced yet?

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