In 1907, the US was on the brink of a financial crisis until J.P. Morgan and a group of Wall Street financiers invested $25 million in the New York Stock Exchange. The 1907 panic and near crisis led to the establishment of the Federal Reserve System in 1913. This 1907 half dollar recalls a pivotal year in US banking.
Although more correctly described as the Liberty Head type, the Half Dollar produced from 1892 through 1915 has long carried the name of its designer, Chief Engraver Chares E. Barber. The Barber Half Dollar series is a very interesting one. With the exception of only the 1899 and 1908-O, all issues of this type have original mintages of fewer than 5 million coins. Additionally, these coins were produced to meet strong demand in commercial channels, and heavily worn survivors are quite plentiful in numismatic circles. The combination of limited mintages and widespread circulation means that all Barber Half Dollar issues are very scarce in the finer circulated grades. Mint State survivors are also elusive, most owing their existence to a trio of dealers who tucked away a few rolls during the 1930s. These have long since been broken up and the individual coins dispersed into the market. The rarest Barber Halves are the 1893-S, 1896-O, 1896-S, 1897-O, 1897-S, 1901-S, 1904-S, 1913, 1914 and 1915.