1853-O 50C Liberty Seated Half Dollar, Arrows & Rays NGC SE Ex.SS Republic

Rare New Orleans Mint issue salvaged from the SS Republic

Here’s a more affordable 1853-O (Arrows & Rays) Seated Liberty half dollar in its Shipwreck Effect condition. In addition to be being reasonably priced, it also is a historic numismatic piece. It is a survivor of the tragic SS Republic shipwreck. Plus it is a desirable—and rare—half dollar issue from the New Orleans Mint.

Virtually all the surviving Seated Liberty half dollars struck from 1839 to 1873—including the 1853-O Arrows & Rays—could be considered rare, and in Mint State grades survivors are exceedingly rare. What happened to those coins? Research suggests that millions of them were shipped to China in trade as payment for tea and other consumer goods. Let’s take a look at some of the evidence.

A scale for weighing coinage used at the New Orleans Mint in the 19th century. Photo: Wikimedia Commons.

During the 19^th century, the port of New Orleans, where the mint is located, was a major international export center. The mintage for the 1853-O Arrows & Rays half dollar was 1,328,000. However, in total PCGS and NGC have graded only 820 original examples of that issue. Something else to consider is that there was a policy of “free coinage” at the U.S. mints at the time.

“Free coinage” allowed merchants and silver exporters to bring as much silver bullion and worn down silver coins as possible to the mint and have them minted into new Seated Liberty half dollars—at no additional charge. That ensured a steady stream of half dollars to bring to ships in the Port of New Orleans, from where they set sail for China. Other evidence includes chopmarked examples of New Orleans Mint half dollars from the 1850s—concrete evidence of such coins being sent to China in trade.