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1773 1/2 P Virginia, Period MS64RD PCGS

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Price: $2,450.00   
Grade: MS64RD
Quantity: 1
PCGS Coin #: 242
Last Update: 11/8/2019
Dealer:  (Terms) AU Capital Management (3)
The Virginia Colony enjoyed a royal authorization to mint it’s own coins as a part of it’s charter starting in 1609. For reasons unknown, perhaps because tobacco was the most trusted medium of exchange, Virginia did not exercise its right to strike coins for over 150 years. On May 20, 1773 the Virginia Assembly passed an act authorizing coinage of the halfpence at the Tower Mint, pursuant to the original charter.The Colonial Treasurer, however, refused to release the coins into circulation until a Royal Proclamation arrived from overseas allowed him to do so. By the time the proclamation was finally received, nearly a year later, the Revolution was on the verge of erupting into armed combat. Coins of all types, including the Virginia halfpence, were massively hoarded. Only 44 examples were dug up at Colonial Williamsburg, and all of these showed extensive wear from the natural use as money.This might offer some insight as to why collectors today have the opportunity to acquire full mint red, or nearly so, uncirculated examples. Nearly all of the remaining examples were eventually found in a wooden keg in Richmond just before the Civil War. This keg was acquired by Baltimore resident Colonel Mendes Cohen, a famous coin collector during the 1870’s. Upon his death in 1879, this keg was inherited by his descendants. Fifty years later, in 1929 the family decided to sell the remaining collection to coin dealer Wayte Raymond.The vast majority of those dispersed are red or more likely partly red, but show spotting or staining.Here is a link to an excellent resource provided by the University of Notre Dame:https://coins.nd.edu/colcoin/colcoinintros/VA-halfd.intro.html
Collectors CornerSM coin information:  (data courtesy of PCGS.com *)
PCGS Coin #: 242
PCGS Coin Description: 1773 1/2 P Virginia, Period, RD
Mintage: n/a
Grade: MS64RD
PCGS Population: * 43 View
Population (in higher grades): * 2
PCGS Price Guide: * $2,150.00 View
Additional resources: PCGS CoinFacts
PCGS Set Registry:
(Top 3 of 8 composite sets for this coin)
 
  Learn more about Set Registry
Early American Coins and Tokens Basic Design Set (1616-1820)
Early American Coins and Tokens Complete Design Set (1616-1820)
Pre-1776 States Coinage Design Set (1652-1774)
* This information is being provided by PCGS and you are encouraged to review the Important Information for each of these items: PCGS Population [View]; PCGS Price Guide [View]; Auction Prices Realized [View].  The PCGS population report, historic compilation of coin prices and auction prices are proprietary to Collectors Universe and remains the property of Collectors Universe.  It is available for personal use to Collectors Corner subscribers only.  Reproduction in any format is strictly prohibited, as is sharing of this import (or any data contained herein).  Also, errors and omissions can occur and accordingly, viewer should recognize these facts and that this information should not be the only source consulted when making a decision about buying or selling coins.

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