1923-S 50C MS (PCGS# 6586)

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

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    Heritage Auctions
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Lot Description
1923-S 50C MS65 PCGS. CAC. Ex: Charles Schultz. Between 1921 and 1927 only one Walking Liberty half dollar was issued: the 1923-S. The reason for this pause is uncertain, but it may have had something to do with the Pittman Act of 1918. Under the authority of that act, 270 million silver dollars were melted and converted into bullion, and an equal amount of silver was purchased from American mines and coined into silver dollars. The act was a boon to the silver mining industry, but it also forced the Mint to focus primarily on the production of dollars. As a result, the mintage of half dollars slowed to a halt in most years. While the 1923-S half had a fairly substantial mintage of almost 2.2 million pieces, it is exceptionally rare in Mint State grades; most of those coins went into circulation in the years before half dollar production resumed. PCGS has graded 40 examples in MS65, one in MS65+, and only eight pieces finer (7/11). This Gem exhibits frosted mint luster. Much original brilliance is seen with accents of reddish-gold toning on each side, but the color is noticeably deeper on the reverse. The strike is atypically strong for the issue. From The Oliver Collection.
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