There are two varieties of 1846 half eagle known: the common Large Date and the scarce Small Date. The latter is generally seen in EF and AU grades and it is quite scarce in Uncirculated with probably no more than ten to fifteen currently known. This bright, frosty example exhibits light green-gold color and it is sharply impressed. As on all known examples, there is a mint-made raised mark coming from the corner of Liberty's eye; the fields surrounding the portrait have some mint-made roughness and I have seen this on a few 1846 Small Date half eagles as well. If half eagles of this era become more avidly collected (which I can almost assure you they will be...) I believe that this variety will sell for a significant premium given its widely-known scarcity.