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SERIES: Flowing Hair Half Dimes 1794-1795
LEVEL: Minor Variety or Die Variety

1794 H10C LM-3 (Regular Strike)

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PCGS MS64+

PCGS VF35
PCGS #:
38583
Diameter:
16.50 millimeters
Designer:
Robert Scot
Weight:
1.35 grams
Edge:
Reeded
Mintage:
7,756
Metal Content:
89.2% Silver, 10.8% Copper
Auction Record:
$132,250 • NGC MS67 • 8-7-2010 • Bowers & Merena
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4
1,800
4
6
2,100
6
8
2,250
8
10
2,400
10
12
2,850
12
15
3,150
15
20
3,750
20
25
4,050
25
30
4,350
30
35
4,850
1
35
40
6,750
40
45
7,500
45
45+
7,850
45+
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10,000
50
50+
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50+
53
11,500
53
53+
12,000
53+
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13,500
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15,000
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64
36,000
64
64+
45,000
1
64+
65
68,000
65
Rarity and Survival Estimates (Explain)
Grades Survival
Estimate 
Numismatic
Rarity 
Relative Rarity
By Type 
Relative Rarity
By Series 
All Grades 150 R-7.5 1 / 2 1 / 2
60 or Better 3 R-9.8 1 / 2 1 / 2
65 or Better 1 R-10.0 1 / 2 1 / 2

Ron Guth: LM-3 is one of four distinct die varieties of the 1794 Half Dime.  This is one of the easiest varieties to identify because it is the only one with two inner berries and one outer berry under the eagle's right wing (viewer's left).

Logan and McCloskey characteried this variety as "scarce" (R-4) and noted that this variety is "difficult to locate in Mint State."  However, among the PCGS CoinFacts Cindition Census, the LM-3 variety occupies six of the top ten spots, more than all other die varieties combined.  The finest 1794 Half Dime (NGC MS67) is an LM-3.  The second and third finest (P{CGS MS66 and NGC MS66) are also LM-3s. 

This may have been one of the first varieties struck in 1794, because the dies were used earlier to strike a copper example (Judd 14, Pollock 19).

Early states of the die are perfect (D. Brent Pogue's PCGS SP67 is a spectacular example).  Later states develop die cracks on both the obverse and reverse, eventually leading to severe bulging on the obverse and sinking on the upper right reverse.