1848 1/2C Restrike, BN
The 1848 1/2C Restrike, BN (Proof) is a rare and highly sought-after coin in the realm of numismatics, enticing collectors and historians alike with its intriguing history and limited availability. This particular half cent belongs to the Braided Hair series, which was minted from 1840 to 1857. However, what adds an additional layer of mystique to the 1848 issue is its status as a "Restrike." In the mid-19th century, a limited number of Proof coins were struck as restrikes, separate from regular mint-issued coins, often intended for coin collectors and VIP presentations.
The 1848 Restrike, precisely because of its low mintage and specific intent for production, emerges as a coin with notable rarity. The United States Mint, located in Philadelphia, is known to have produced these Proof Restrikes. The mintage numbers for these Proof Restrikes are notoriously low, and while the exact figures remain somewhat unclear, estimates suggest only around 25 to 50 pieces were created. This makes the 1848 1/2C Restrike a centerpiece for those looking to complete their Braided Hair series or enhance their collection of U.S. Proof coins from the 19th century.
From a numismatic perspective, the rarity is further accentuated by its designation as BN (Brown), a term that describes the natural toning that occurs over many decades on copper coins. This description can affect the coin's market value, with Brown pieces generally valued lower than their Red or Red-Brown counterparts due to the perceived impact of toning on desirability. The PCGS (Professional Coin Grading Service) assigns the 1848 1/2C Restrike, BN a PCGS #1299, making it a key reference for collectors and investors. This coin's desirability is not merely due to its rarity but also because of its Proof status, which signifies a specially polished finish and sharper details, enhancing its aesthetic appeal. Market performance has shown these coins fetching significant sums at auction. Notable auction results illustrate a range of values depending on the state of the coin, proof condition, and collector interest at the time of sale.
For example, well-preserved specimens have been known to sell for extraordinary prices, sometimes reaching tens of thousands of dollars, given the competitive nature of auctions and the coin’s scarcity. For those interested in historic U.S. coinage, the 1848 1/2C Restrike, BN stands as a testament to the intricate interplay of minting practices, collector interests, and the evolving market values over time. Collectors should focus on auction houses and numismatic events for the most current and comparable sales data, as these venues provide the transparency and detail required to gauge the true market sentiment for this rare piece of American coinage history.