VERY UNDERRATED PCGS/CAC AU53 1861-S HALF EAGLE

An uncommonly high percentage of the 18,000 examples struck didn't survive the ravages of time and today there are around 60-70 known of this date. Most 1861-S half eagles are well worn with VF and EF coins the norm. In About Uncirculated, I doubt if there are more than five or six known and no 1861-S half eagle has ever been graded higher than AU55 at PCGS (and just a single coin after 30 years of operations!)

This lovely AU53 example is one of the two best 1861-S half eagles I have offered for sale. It is well-defined and completely natural in appearance with nice green-gold color. Were it not for some contact marks in the left obverse field, this coin would certainly grade AU55 and it has better overall eye appeal than just about any 1861-S half eagle I have seen.

Remarkably, no PCGS AU53 1861-S half eagle has sold at auction since October 1999. An NGC AU58 brought $16,450 in Heritage's April 2015 and I would choose this PCGS AU53 for my set if I collected this series.

This could well be the second finest known 1861-S half eagle and it represents an important opportunity for the savvy specialist.

CAC has approved this one coin in AU53 and only one finer (AU55).

From the HandH Collection.