1842 Large Letters $5.00 NGC AU53

Large Letters variety. You can make a strong arguement that the 1842 Large Letters is the single rarest Philadelphia half eagle until the low production issues of 1863-1865. There are probably fewer than fifty known in all grades and most are in the EF40 to AU50 range. I know of exactly two in Uncirculated (an MS63 and an MS64, both graded by PCGS) and my best estimate is that issue is a Low R-7 in AU grades with fewer than a dozen known. In spite of this, the 1842 Large Letters is a readily affordable coin. This example, which is only the second I've offered for sale in over four years, has decent eye appeal with light to medium greenish-gold color accentuated by some reddish flashes in the protected areas. There are scattered ticks in the fields that limit the grade but good overall detail. If you are a collector who appreciates true rarity but you don't have an unlimited budget, you have to love a coin as scarce as this that is priced at under $4,000!

1850 $20.00 NGC AU53 CAC

This numismatically significant issue is the first collectable double eagle from the Philadelphia mint and it has an appearance that tends to be much different than the Type One issues that follow it. It is typically found better struck and there are some higher grade coins (in the MS62/63 range) that have superb color and detail. Circulated examples are relatively available but many are heavily abraded and most have been dipped or messwed with. This naturally toned example has pleasing mdeium to deep green-gold color atop very clean surfaces. A few marks rest in the left obverse field; the reverse is choice and very crusty with lots of dirt caked into the recesses. This is an issue you can afford to be pretty picky when you are looking for one but I think tis example will meet the requirements of even the fussiest collector.

1868 $20.00 NGC AU53 CAC

The 1868 was a "secret" date for many years but its scarcity is now well-known amongst collectors of double eagles. In fact, it is the single scarcest Type Two double eagle from the Philadelphia mint. In my experience, it is seldom available above AU50 and when it is, examples tend to be very low end with poor quality surfaces and no originality. This piece appears to have originated from a European source as it has the dark, rich yellow-gold color with contrasting highlights that is found on coinss that have been stored in overseas valuts. There is a good deal of "meat" below the color and there are fewer marks than usual for the date and grade on the surfaces. If you are collecting this series by date, you know that there aren't many nice 1868 double eagles out there and with Choice AU pieces selling for close to five figures the importance of this nice examples gains in stature and importance. This is one of just two approved by CAC in this grade with six finer.

1851-O $20.00 NGC AU53

While certainly not a "rare"coin in this grade, it has become quite challenging to locate an AU50-55 example of the 1851-O (or the 1852-O, for that matter) that has good overall eye appeal. I like the present example quite a bit for the grade on account of its pleasing orange-gold and reddish color and abundant remaining luster. In fact, this piece has the skin and body of an AU55 but it is just a hair too abraded to accurately encapsulate as such. There is a scrape (from contact with another coin) on Libery's hair below star eight on the obverse as well as some other scatterered signs of contact; the reverse is clean and choice. This piece is from an early state of the dies with full stars on the obverse and good detail seen at the centers. In any grade higher than this, you are looking at a low five-figure expenditure, making a choice AU53 example like this the "sweet spot" for many collectors.

1892-O $5.00 PCGS AU53

After a 35 year hiatus, production of half eagles resumed at the New Orleans mint. Only 10,000 were struck and the 1892-O is scarce in any grade. But unlike the No Motto issues from this mint, the 1892-O is more of an absolute rarity than a condition rarity. Very few circulated examples are known and this date is most often seen in the AU58 to MS61 range. There hasn't been a slabbed AU53 example at auction since the advent of third-party grading and just two slabbed AU55's since 1987. The present example is orginal and pleasing with natural deep color at the borders ringing the lighter centers. This piece would grade at least AU55 were it not for an abrasion that runs from below the throat into the left obverse field. There are few US gold coins that are better value than the 1892-O and this is among the most affordable examples I've handled in years.

1854-D Large D $5.00 PCGS AU53 CAC

Large Mintmark variety. Many examples of this date are softly struck but this piece is a nice exception to that rule with good central detail and more sharpness than usual at the edges. The surfaces are clean and satiny with natural light to medium green-gold color. As this is the most common half eagle from this mint, it would make a great type example for the collector seeking a single affordable but reasonably high grade piece from this mint. CAC has grade approved just two in this grade with three finer.

1850-D $2.50 NGC AU53 CAC

Beginning with this issue, the quarter eagles from the Dahlonega mint become rarer than the previous five years and much less well made. This original example has nice green-gold color with plenty of dirt in the recessed areas of the obverse and reverse. In higher grades, the 1850-D is almost never available and this pleasing piece is just about the best quality available to collectors.

1855-D $2.50 NGC AU53

Only 1,123 examples were struck and the 1855-D is the second rarest Dahlonega quarter eagle, trailing only the 1856-D. This date is of the highest rarity in Uncirculated (I just bought the finest known, a PCGS MS63, for $86,250) and there are probably not more than a dozen or so known in properly graded About Uncirculated. When available--which is not often--the typical 1855-D grades EF or so and is characterized by faulty planchets and bright, problem-ridden surfaces. This piece was struck on a decent planchet and it has natural russet color on the upper obverse and the right reverse. The strike is irregular as usual with some weakness at the borders but the stars are full and have complete radial lines. There is a mint-made reverse defect on the reverse rim at 3:00 which I think actually adds a bit of character to the overall look and is not a negative given its position on the reverse. I can probably count on one hand the number of 1855-D quarter eagles that I have seen with color that was as appealing as this coin's and this example would fit comfortably into even the finest set of Dahlonega quarter eagles. Ex Heritage 4/11: 5332, where it sold for $14,950

1862 $10.00 NGC AU53 CAC

As recently as a few years ago, the true rarity of this Civil War eagle was not really known outside of the Liberty Head eagle specialist community but this changed when a PCGS AU58 example sold for $25,300 in the Stack's 8/10 auction. There were 10,960 struck but most 1862 eagles were melted and the number known today is likely no more than 100-125 in all grades. I have never seen or heard of an Uncirculated piece and this date is very rare in the higher AU grades. Most of the coins in AU holders are heavily abraded and have been dipped and this clean, natural-looking coin has the best eye appeal of an 1862 eagle that I have seen in years; including the aforementioned PCGS A58. It has a good deal of luster below medium natural green-gold color and there are not many marks of note on the surfaces. A small area of natural toning surrounding the eagle's head and upper wings serves as ready identification. CAC has approved three 1862 eagles in AU53 and three better.