Market Analysis: 1839 Seated Liberty half

This Proof 64 1839 Seated Liberty half dollar is the sole Proof certified of the Drapery at Elbow type and sold for $102,000 at Stack’s Bowers Galleries’ March 26 Rarities Night auction.

Images courtesy of Stack's Bowers Galleries.

A standout group at Stack’s Bowers Galleries’ Spring 2024 Showcase Auctions was the Arlington Collection of Seated Liberty half dollars that included high-quality Proof and Mint State issues.

Leading the bidding at $102,000 on March 26 was an 1839 Drapery at Elbow half dollar graded Proof 64 by Numismatic Guaranty Co. that is apparently unique. In contrast, perhaps six 1839 No Drapery at Elbow examples are known. Off the market for a generation after John Jay Pittman acquired it in 1961, it emerged in May 1998. It sold again in 2008 for a hefty $184,000 and again in 2013 and 2014. Here, the cataloger praised the bold strike, writing, “The fields are universally brilliant, the central motifs lightly frosted and providing subtle cameo contrast as the coin rotates under a light.”

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