1837 Capped Bust Half Dollar. Reeded Edge. 50 CENTS. GR-24. Rarity-2. MS-64 (NGC).

1837 Capped Bust Half Dollar. Reeded Edge. 50 CENTS. GR-24. Rarity-2. MS-64 (NGC).，Bathed in satin to softly frosted luster, this handsome near-Gem also exhibits warm toning in iridescent golden-gray. Boldly defined for the issue, especially in and around the centers, with uncommonly smooth and well preserved surfaces that will appeal to high grade type collectors.<p>This short-lived type, produced only in 1836 and 1837, came about through the introduction of steam coinage to the United States Mint. The first working dies for the Reeded Edge Capped Bust half dollar were completed by Christian Gobrecht during the autumn of 1836. The type is superficially similar to that of its Lettered Edge predecessor, although Libertys portrait and the eagle have a more refined look, the scroll on which the Latin motto E PLURIBUS UNUM was engraved in the upper reverse field is gone, and the diameter is smaller and more uniform within a beaded border. The final-listed refinement, in particular, was meant to accommodate the close collar, a new innovation to the United States made possible by the introduction of the steam press. The close collar allowed the Mint to produce half dollars not only of a uniform diameter, but also with a reeded edge for the first time. A final innovation of the revolutionary Reeded Edge half dollar is a revised weight standard of 13.36 grams, as stipulated by the Act of January 18, 1837.<p>Gobrechts initial Reeded Edge half dollar design has the denomination expressed as 50 CENTS along the lower reverse border. This was changed in 1838 to read HALF DOL., presumably for uniformity with the contemporary quarter and silver dollar. Given the rarity and key date status of the 1836 Reeded Edge, the 1837 is the only realistic type candidate of the 50 CENTS design for most collectors. Mint State examples, however, are scarce in an absolute sense and rare relative to the strong demand for them among collectors building high grade type sets.，，