1802 H10C AU55 Certification #81421226, PCGS #4268

Charles Morgan

1802 Draped Bust Half Dime

Logan-McCloskey-1. PCGS #4268 (Base) and #38607 (LM-1) | Rarity 5.

The 1802 Draped Bust Half Dime stands as the second-rarest issue in the entire half dime denomination, surpassed only by the unique 1870-S Liberty Seated Half Dime (#4397). While often called the "key" to the series, it is more accurately described as a "stopper"—the formidable barrier that prevents even the most elite collections from reaching completion. Recognized as a premier rarity since the mid-19th century, this date was conspicuously absent from many of the great "Golden Age" cabinets. Although the Red Book cites a mintage of 3,060, the surviving population hints at a significantly lower actual production.

Die Characteristics (LM-1)

A single die pair was responsible for the entire mintage. Collectors can identify the LM-1 marriage through several diagnostic markers:

• Obverse Weakness: Strikes typically show heavy fading on the left side, flattening the denticles from 7 to 10 o’clock and rendering the left-side stars nearly featureless.
• The "Curl" Marker: A fine die line extends leftward from Liberty’s top hair curl, while the tip of the "1" in the date nearly—but not quite—touches that same curl.
• The Date: The "8" is the most prominent and boldest digit; the "0" is nearly perfectly circular; and the "2" is distinctly canted to the left, leaning toward the bust truncation.
• Reverse Diagnostics: Cloud detail is perpetually weak, as is the "RIBU" in PLURIBUS. This specific reverse die enjoyed a long life, having been utilized for the 1801 (LM-1, LM-2) and 1803 (LM-1, LM-2) issues.

Uknown in Mint State

With an estimated survival of only 25 to 30 specimens, the 1802 is essentially non-existent in high grades; no Mint State (MS) examples have ever been recorded. While PCGS has certified a small number of About Uncirculated (AU) and Extremely Fine (XF) pieces, the vast majority of known examples are heavily circulated.

Vintage Market Snippets

The coin’s legendary status was cemented early in the American numismatic consciousness. An example appeared in an Edward Cogan sale as early as 1859, and William A. Lillendahl’s specimen fetched $340 in 1863—an astronomical price for a half dime at the time. Its allure was famously captured by Augustus G. Heaton in his 1894 poem, "The Convention of the Thirteen Silver Barons," where he affectionately dubbed the 1802 his "better half." Proving its status as the ultimate acquisition, Stack’s Bowers noted that this issue was the final coin added to the world-renowned D. Brent Pogue Family Collection, serving as the crowning achievement of an uncompromising multi-decade pursuit.

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