1838 H10C Large Stars MS65 认证号13109709, PCGS号4317

1838 No Drapery MS65. Small Stars. V-1. "The 1838 Half Dime is found in two major varieties: Large Stars and Small Stars. Actually, the Small Stars variety started out as a Large Stars die that was subsequently ground down to remove clashmarks, thus reducing the apparent size of the stars." (Ron Guth). Described on the insert as a No Drapery piece with no mention of what appears to be the Small Stars feature, considerably scarcer than the Large Stars variety, especially in higher grades. This scarce Gem quality, first-year-type variety was created by drastically repolishing the obverse die to remove rust. But Liberty's arm is rusted, and many of the stars are attenuated from repeated, overzealous die polishing that was probably meant to lessen, if not remove the former feature. As a result, the stars were reduced in size. A considerably scarcer variety of this first year No Drapery type than the "normal" stars version, perhaps fewer than 10% of the uncirculated 1838 half dimes are the Small Stars design. V-1 specimens generally exhibit a strong strike with full head, toe and shield and the date boldly punched. Early strikes of the V-1 show a repunched first 8. The present example appears to be an early die state with the figure of Liberty only showing partial die rust, not "badly corroded" as Valentine stated. This coin seems to be an exceptionally sharp example of Al Blythe's Die State 2, with notable die rust on Liberty's arm and some doubling of the drastically lapped small stars. Later die states show die deterioration with a die crack from rim to head and Liberty’s right shoulder to the rim. The die state only refers to the obverse as the reverse is distinct from that used on examples of the V-2 die marriage. (The obverse die was used for both varieties.) The No Drapery, Stars Seated Half Dime was produced from 1838-1840. VARIETIES: V-1 with level date, centered. V-2 with low date running uphill toward base of rock. SCARCITY: V-2 far scarcer than V-1. Rarity Rating, V-1: G-VG R5, F-VF R5, EF-AU R6, MS R7.

Ron Guth

Mint engravers updated the design of the Half Dime in 1838 by adding stars to the obverse.  By doing so, they matched the design with every other Seated Liberty design then in circulation with the exception of the Silver Dollar (which did not appear until 1840).  Two major varieties appear in this year: the Large Stars and Small Stars.  There is a marked difference in the sizes of the stars on the two varieties, and they can be seen best when the two varieties are laid side-by-side.  Otherwise, an attribution guide, such as the images above, will be helpful.  It is important to know the difference because the Small Stars is quite scarce in comparison to the Large Stars.

The 1838 Large Stars No Drapery Half Dime is fairly common, including in Mint State grades, where hundreds of examples have been certified.  The best example certified by PCGS is an amazingly colorful PCGS MS68, one of the finest early Seated Liberty Half Dimes of any date.