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The 1806 Flowing Hair Half Dollar, specifically the Pointed 6 variety with stem through the olive branch on the reverse and graded Fine (F), is a rare and historically significant coin from the early years of the United States Mint. Though commonly referred to by collectors as a "Flowing Hair" type, the 1806 issue is actually part of the Draped Bust series, which was struck from 1796 to 1807. The confusion often arises from the transitional designs and shared terminology of early U.S. coinage. This coin represents not only the artistry of early American minting but also the evolution of the nation's monetary system during its formative years.
The Draped Bust design was the second major motif used on U.S. coinage following the 1794–1795 Flowing Hair design. The obverse features a classical representation of Liberty, facing right, with loosely draped garments and long, flowing hair cascading over her shoulders. This version of Liberty was inspired by neoclassical ideals and possibly modeled after socialite Ann Willing Bingham. Above her head arcs the word “LIBERTY,” while thirteen stars—symbolizing the original colonies—encircle the portrait, and the date “1806” is placed below. The "Pointed 6" refers to the sharply defined top of the numeral "6" in the date, a diagnostic used to distinguish die varieties.
The reverse design presents a heraldic eagle based on the Great Seal of the United States. The eagle holds a bundle of arrows in one talon and an olive branch in the other, symbolizing readiness for war and a desire for peace. A shield with vertical and horizontal stripes covers the eagle’s chest, while its wings stretch upward. A scroll above the eagle bears the national motto “E PLURIBUS UNUM,” and thirteen stars arranged in an arc rest above the eagle’s head. “UNITED STATES OF AMERICA” encircles the reverse along the rim. In the "with stem" variety, the olive branch extends with visible stems below the leaves—a detail used to differentiate reverse dies and varieties.
The 1806 Draped Bust Half Dollar was struck at the Philadelphia Mint, which at the time was the only mint in operation in the United States. These coins were struck using screw presses and hand-prepared dies, which led to a wide variety of die marriages and minor variations from coin to coin. Each die pairing has been cataloged in detail, most notably in Al Overton’s reference work on early half dollars. The "Pointed 6 with stem" variety corresponds to a specific Overton number (such as O-124 or O-115), indicating a particular obverse and reverse die pairing used that year.
Mintage for all 1806 half dollars was approximately 839,576 pieces, a significant total for the era, reflecting the growing use of silver coinage in domestic commerce. However, the mintage includes multiple die marriages and varieties. Coins with the "Pointed 6 with stem" features represent only a portion of this total and are relatively scarce, especially in problem-free and certified conditions. Because of the primitive minting methods and heavy circulation, most surviving examples exhibit significant wear and are rarely encountered in high grades.
In Fine condition, the coin retains visible design elements on both obverse and reverse but shows moderate wear across all high points. On the obverse, Liberty’s hair detail is worn but identifiable, and all thirteen stars are present though softened. The date remains clear and bold, with the “Pointed 6” still distinguishable. On the reverse, the eagle's feathers are worn flat, particularly on the wings and shield, but the overall outline of the design is intact. The olive branch and arrows are visible, and importantly, the stem below the olive leaves is discernible, allowing the variety to be positively identified.
The surfaces of a Fine-grade coin may exhibit light scratches, minor rim nicks, or old cleaning, which are common for early silver issues. However, an appealing example with natural toning and solid eye appeal remains highly desirable to collectors. Coins from this era often show adjustment marks—scratches from planchet weight correction before striking—or weakness in strike, which are considered normal and do not significantly impact value unless excessive.
Due to the popularity of early U.S. coinage and the depth of study into Draped Bust Half Dollar varieties, this 1806 Pointed 6 with stem issue is of particular interest to specialists. It falls within the highly collectible “Capped Bust and Earlier” category and is commonly included in registry sets and die variety collections. The wide range of Overton numbers and their rarity levels make assembling a comprehensive collection both challenging and rewarding.
Adding to its appeal is the coin’s intrinsic silver value. Composed of 89.24% silver and 10.76% copper, each 1806 half dollar contains approximately 0.3867 troy ounces of silver. However, its historical significance, age, and scarcity in collectible grades vastly exceed bullion value, especially for attributed and certified examples. A coin with this vintage also offers a tangible connection to the early Republic, a time when Thomas Jefferson was President and the United States was still expanding and defining its national identity.
The 1806 Draped Bust Half Dollar, Pointed 6 with stem variety, in Fine condition is a worthy and meaningful acquisition for collectors seeking early American coinage. Its classical design, historical context, and identifiable variety status ensure enduring value and interest. Even in a mid-grade such as Fine, the coin represents a scarce and visually compelling piece from the first decades of U.S. Mint production. For those pursuing type sets, Overton collections, or simply historic American silver, it stands as a cornerstone of numismatic legacy.