RARE CHOICE UNCIRCULATED 1838 HALF EAGLE WITH CAC APPROVAL

HM-1, R-3. Small Arrows, Large 5.

The 1838 is numismatically significant as the final year of issue for Philadelphia Classic Head half eagles. It is common in circulated grades and only moderately scarce in the lowest Uncirculated range but it becomes very scarce in properly graded MS63 and it is very rare in Gem. The best I have seen is the singular PCGS MS66 which brought a record-setting $253,000 as Heritage 2008 FUN: 3159. That coin re-appeared in the Stack’s Bowers 5/2016 sale of the Pogue Collection where it brought $235,000.

This lovely example is characterized by its conspicuous originality. It is undipped and shows nice natural medium yellow and orange-gold color over clean, frosty surfaces. The strike is sharp as is typical for the issue but the detail is even bolder than usual, especially at the centers. There are a few scattered ticks and lines which limit the grade but this piece is clearly at the top end of the quality range for this issue and to the naked eye it appears more choice than MS63.

A single PCGS/CAC MS63+ has sold at auction and it brought $12,925 as Legend 10/2020: 378.

Properly graded Classic Head half eagles in MS63 or finer are tough to locate, no matter which date, and this 1838 is perfect for either a type set or a high quality date run.

CAC has approved five in this grade with only three finer.

From the Pacifica Collection

DWN collects sales tax when appropriate.