VERY RARE 1824 HALF EAGLE GRADED MS63 BY PCGS AND APPROVED BY CAC

BD-1, R-5.

This ultra-fresh example is from the same old collection as the fantastic PCGS/CAC MS64 1826 $5 that I recently sold, and it appears that these coins had been together for 50+ years. As far as I know, this recently slabbed coin has not been offered for sale via private treaty since the 1970s or perhaps even earlier.

To my eyes, this coin has been somewhat conservatively graded by PCGS as it offers the appearance of a solid MS63+. It is 100% original with no evidence of the surfaces being lightened and the resultant rich yellow and green-gold hues are familiar to those connoisseurs who appreciate these hues on natural coins from this era. There are a few light handling marks in the lower right obverse field as well as a few light lines in the left obverse field; the reverse, on its own, is a solid 64+/65.

It is estimated that around 30 or so are known with the majority in the MS63 to MS64 range. PCGS has never graded one higher than MS64+ and no Gems exist. Virtually every 1824 half eagle was melted and none appear to have circulated. The two best I have seen are the NGC MS65 Garrett coin (I graded it MS64 to MS64+ a dozen years ago when I examined it in person) that sold for $199,500 in 2014, and the PCGS MS64+ Pogue coin that sold for $135,125 in 2016.

While classic gold rarities from this era have performed fairly well in terms of price appreciation over the past decade+, it is my sincere belief that the best value equivalent analogy I can make is comparing Old Masters art to Contemporary art. In both scenarios, the complex older works have shown less appreciation than their 20th and even 21st century counterparts for a variety of reasons.

If you have searched for the right Capped Head Left/Large Planchet half eagle, say hello to your new coin!

CAC and CACG have approved or graded a total of eight 1824 half eagles with six being stickered by CAC and two being graded by CACG. This includes one each in CAC and CACG MS63, two in MS64 with CAC approval and a single MS65 also with CAC approval.

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