19th Century Half Dollars

I don't consider myself an expert, but here goes ...

I've read that the early Bust Halves were principally regarded as bullion and mostly stored in bags during their era. This accounts for the ready availability of mid and higher grade coins in today's market. The Seated halves were periodically hoarded and or kept in reserve during hard times, the war era and such. The Barber halves and other Barber denominations served more as "workhorses" at a time when westward economic expansion was rapidly unfolding. It was probably the Barber series that replaced the use of Spanish coins out west. Then too, it was only natural for collectors and hoarders to remove the obsolete types from circulation.

As a kid in the 1950's I would occasionally receive a Barber coin in circulation. They were almost always well worn, it seems. As there were no silver dollars issued for fifteen years, 1905-20, and the dollar coins were often bagged as bullion, like the Bust Halves were decades earlier, the Barber halves filled the dollar void.

Today, we rarely see half or dollar coins in circulation but quarters aplenty sure change hands. Folks tend to spend coins that are most familiar to them. Many kids who work at drive-throughs nowadays have to consult a manager before they will accept a half or dollar coin; likewise, a $2 bill!

Then too, the Barber coins are generally less expensive to collect in sets. Of course this statement precludes those that are exceedingly rare by virtue of their condition.

DoubleEagle20 is correct about early halves being held by banks. Basically banks in the old days were only worth as much as they had deposits in their vaults and half dollars were kept in bank vaults for decades.
Once the Federal Reserve system was put in place in 1917 banks didn't have a need to hold all this stuff so it was released to the public.
A lot of high grade Capped Bust halves and early Seated Liberty halves were scooped up by collectors. On the other hand Many Barber halves weren't collected.
The Great Depression played a huge role in why Barbers weren't saved. When the stock market crashed in 1929 most Barber coins were only 20 to 40 years old so they weren't coveted by collectors.
The general public didn't save any coins because the depression was in full swing. Back then 50 cents could feed a family for several days or buy an entire tank of gas. If you got a 50 cent piece you spent it!
Another factor is that collectors didn't appreciate the Barber coinage until recently. I remember Barber dimes selling for less than Mercury dimes back in the 80s. Most collectors thought they were ugly.