1824 $5.00 NGC MS60 CAC

BD-1, High R-5. A total of just 30-40 examples are known for this date. As with most of the half eagles from the 1820's, this issue was almost completed eradicated by melting. The 1824 is at least twice as rare as the 1823 and comparable in rarity to the 1826. I regard it as just a hair rarer than the 1827. As with nearly all the dates from this era, the 1824 saw very little circulation and many of the survivors grade MS63 to MS65. The present example has no real wear but it does show some cabinet friction on the high spots and light, scattered marks on the surfaces including a small dig below the second S in PLURIBUS on the motto. The color is a pale green-gold and the luster is satiny in texture. I don't generally like coins graded MS60 but this piece has very good eye appeal and it is clearly nicer than what you'd expect to see in an AU58 holder. As one might guess, there has never been an MS60 example of the 1824 half eagle sold at auction. The last piece to sell was a superb PCGS MS63 that I bought out of the 2012 FUN sale (as Lot 4675) where it brought $126,500. In the same auction, a nice PCGS AU58+ example of the 1827 (a date that I personally think is just a tiny bit more available than the 1824) sold for $54,625; it is now on another dealer's website priced at $65,000. Fat Head half eagles from the 1820's and 1830's are finally being recognized for their extreme rarity and it may be years before the collector has another chance to purchase an 1824 in any grade.