1824 Washington and Lafayette Counterstamps on an 1824 Capped Bust Half Dollar. By Joseph Lewis. Musante GW-112-C1, Baker-198E. Silver. EF-40 (PCGS).

32.5 mm. 207.2 grains. Attractive medium gray silver with somewhat lighter high points and soft blue iridescence through the fields that adds considerably to the eye appeal. One tiny partial puncture is noted over the Liberty cap of the host, but for an issue that is sometimes holed for use as a personal adornment (likely at events associated with Lafayette's tour and, thus, potentially in his personal presence), this is quite forgivable. The countermarks are nicely impressed, sharp, even, and well centered. As with nearly all seen, the Washington portrait is on the obverse of the host and here, thoughtfully oriented to align with it. The same is largely true of the Lafayette punch, but it is 180 degrees off from the orientation of the host and therefore in a medal turn orientation with respect to the Washington punch. It is clear that it was intended that both sides would be upright if suspended from 12 o'clock. The small medalets from these dies are quite rare, and especially so with the original hangers intact. This is likely due to loss more than a small initial output, but nonetheless, nice examples are tough to find. Most collectors have a better chance at acquiring one of the coins counterstamped with these dies, and these are almost always seen on large cents. Silver half dollars are much rarer than the large cents, and probably rarer than the original medalets as well. As such, they enjoy much greater demand and command higher prices than both other categories. They represent a considerably different investment of face value at the time (when compared with the large cents), likely pointing to a smaller initial issue, thus explaining their rarity.

From the E Pluribus Unum Collection. Earlier from the F.C.C. Boyd Collection; our (Stack's) sale of the John J. Ford Jr. Collection, Part II, May 2004, lot 197; our (Stack's) sale of January 2008, lot 7220.

Estimate: $ 5000