1838-O

The 1838-O half dime is the first half dime struck at a branch mint and the first New Orleans half dime. The New Orleans Mint opened in 1838, joining Charlotte (North Carolina) and Dahlonega (Georgia) as the three branch mints authorized by the Act of March 3, 1835. New Orleans was the only branch mint authorized to strike silver coinage, and the 1838-O half dime was among its earliest products. Mintage was 70,000 coins, small by Philadelphia standards but typical for a first-year branch mint issue.

The 1838-O is also a No Stars obverse coin, making it the only branch mint No Stars Seated Liberty half dime. In 1838, half dimes were the only coins the New Orleans Mint struck for general circulation. The 1838-O half dollars produced that year were proof-only presentation pieces, making the 1838-O half dime the first branch mint coin of any denomination intended for commerce. The combination of first-year-branch-mint status, one-year-type subtype, and first-circulation-branch-mint-coin designation creates substantial collector demand.

PCGS estimates only 200 survive across all grades, with 20 in Mint State and just 2 at the gem level of MS65 or better. The finest known is a single MS66. An MS66 example sold for $49,938 at Heritage in October 2014. Most surviving examples are in lower circulated grades, and Very Fine and above become progressively scarcer. The small O mintmark appears on the reverse below the wreath bow.

The 1838-O holds a unique place in American numismatics as the first silver coin struck for circulation at any branch mint. Every subsequent branch mint silver coin, across every denomination and every facility, traces back to this issue. Type collectors assembling a complete Seated Liberty half dime type set often include the 1838-O as both the No Stars branch mint representative and the first-year-branch-mint commemorative.