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The 1823/2 Bust Dime is a significant coin in the history of early American numismatics. Struck as part of the Draped Bust series, this coin features a unique die variety known as the 1823/2 overdate, where the "3" in the date has been overpunched with a "2" to correct the year. This overdate variety is one of the more distinctive and highly sought-after types within the Bust Dime series, which ran from 1796 to 1837. The coin was produced during a time of considerable economic and political change in the United States, marking the transition from the post-Revolutionary era to the early years of the 19th century. The 1823/2 Bust Dime is a crucial piece in understanding the development of American coinage during this time, as well as a key collectible for numismatists due to its overdate feature and historical significance.
The history of the Bust Dime series begins in 1796 when the U.S. Mint first issued the denomination, as part of the nation’s early efforts to establish a reliable and consistent currency. The Draped Bust design, which first appeared on the dollar coin in 1795, was adapted for the dime by artist Robert Scot, who designed the reverse of the coin featuring an eagle. The reverse was modeled on the Great Seal of the United States, with an eagle holding an olive branch and arrows in its talons, surrounded by the inscription "UNITED STATES OF AMERICA" and the denomination of 10 cents. Over the years, several variations of the Draped Bust design were struck, and the series culminated in the 1823/2 coin. During this time, the U.S. Mint was still refining its minting processes, and minor errors like the overdate variety reflect the challenges faced by the Mint in producing consistent coinage.
The design of the 1823/2 Bust Dime features the classic elements of the Draped Bust series. The obverse depicts a right-facing portrait of Liberty, wearing a cap and draped in a flowing gown. The word "LIBERTY" appears above her head, surrounded by thirteen stars representing the original thirteen colonies. The date "1823" is prominently displayed, with the “2” clearly overpunching the “3,” creating the distinctive overdate feature that sets this coin apart from other Bust Dimes. This overdate variety is one of the key reasons collectors seek out the 1823/2 Bust Dime, as it was the result of an error made during the minting process. On the reverse, an eagle is depicted with wings spread, clutching an olive branch and arrows, as mentioned earlier. The reverse also includes the inscription "UNITED STATES OF AMERICA" and the denomination "10 C" at the bottom, signifying the coin’s value. The eagle’s presence on the reverse was symbolic of strength and unity, important themes for the young United States.
The coin was struck at the U.S. Mint in Philadelphia, which was the sole Mint facility in operation at the time. The Philadelphia Mint had been in operation since 1792, and by the early 1820s, it was responsible for producing all circulating coinage for the United States. The 1823/2 Bust Dime was composed of 90% silver and 10% copper, a standard composition for U.S. coins of the era. The coin weighed approximately 2.5 grams and had a diameter of about 18 millimeters. These small, silver coins were commonly used for everyday transactions and played a crucial role in the American economy as the country expanded and its markets grew. The 1823/2 Bust Dime was part of the broader effort by the U.S. Mint to provide a uniform, reliable currency to support the country’s development, particularly in the context of expanding trade and commerce.
The mintage of the 1823/2 Bust Dime is estimated to be around 1 million coins, which was typical for coins of the period. However, many of these dimes saw significant circulation, and over time, most were heavily worn or lost. The 1823/2 variety is relatively rare today due to the limited number of coins that survived in higher grades, making it a particularly valuable piece for collectors. The rarity of the overdate variety, combined with the coin’s historical importance, has made the 1823/2 Bust Dime a sought-after item in the numismatic market. Collectors who specialize in U.S. coins from this period often focus on acquiring key varieties like the 1823/2 to complete their collections, as the overdate is a distinct feature that makes the coin unique among other coins from the same year.
The 1823/2 Bust Dime in Very Good (VG) condition is a coin that has been well-circulated but still retains much of its original detail. In this grade, the design elements are clearly visible, though there is noticeable wear throughout the coin, especially on the high points of the obverse and reverse. The overdate feature is still visible, though it may not be as pronounced as on coins in higher grades. The word "LIBERTY" and the stars around Liberty’s head are still partially visible, though they show wear and the definition of the letters may be softened. On the reverse, the eagle is still discernible, but the fine details of the feathers and other elements are worn down from circulation. The overall appearance of the coin reflects its time in circulation, but the key design elements, including the overdate, remain identifiable, making the coin an important piece for collectors.
The 1823/2 Bust Dime in VG condition is highly collectible due to its distinctive overdate variety and its historical significance. Coins in this grade are often considered more affordable for collectors than higher-grade examples, while still retaining key elements of the design. The 1823/2 Bust Dime represents a tangible connection to the early years of the United States Mint and the nation’s development as an independent republic. For collectors, owning a coin in VG condition offers the opportunity to own a piece of history while also appreciating the artistry and craftsmanship that went into its creation.
Collecting the 1823/2 Bust Dime in VG condition is an excellent way for numismatists to acquire an affordable yet historically significant piece of U.S. coinage. The coin’s overdate variety adds a unique aspect to the design, making it a prized item for those interested in die varieties and minting errors. As part of the Draped Bust series, the 1823/2 Bust Dime also holds broader appeal for collectors of early American coins, as it represents an important transitional period in U.S. coinage. The coin’s historical context, combined with its rarity and distinct design, makes it a valuable addition to any collection.
In conclusion, the 1823/2 Bust Dime in Very Good condition is a key piece of U.S. numismatic history. Its overdate variety, along with its connection to the early years of the U.S. Mint and the design work of Robert Scot, makes it an important collectible for both seasoned collectors and those new to the field of numismatics. The 1823/2 Bust Dime serves as a reminder of the early challenges faced by the U.S. Mint in producing consistent coinage, and it provides a link to the growing nation during the early 19th century. For collectors and investors alike, the 1823/2 Bust Dime represents an excellent opportunity to acquire a piece of American history that is both beautiful and historically significant.