VERY RARE CONDITION CENSUS 1840-O HALF EAGLE; OFF THE MARKET FOR OVER TWO DECADES AND GRADED MS62 BY PCGS

Winter-2. Narrow milling with a Small Mintmark.      

This is a very important coin from a numismatic perspective as it represents the premier half eagle issued by the newly-opened New Orleans mint. It is common in grades through AU55, but it is rare and much undervalued in any Uncirculated grade. I am aware of fewer than 10 in all Mint State grades. The finest is a single NGC MS65 which has not been seen in close to 30 years, followed by an NGC and a PCGS MS63

I recently bought this coin back from a client and it was in an old NGC MS62 holder. It had been so long since I had seen it that I forgot about it when compiling my updated list of the finest known 1840-O half eagles a few years ago.

The coin has exceedingly bold frosty luster and is razor sharp in terms of central detail; atypical for an issue often seen dull, cleaned and weak at the centers. The obverse is choice while the reverse is a bit ticky. The color is original with rose and orange-gold blends seen on either side. This is likely the second best of the three or four MS62 1840-O half eagles known and, in my opinion, CAC should have approved this fresh, vibrant example.

Just a single PCGS MS62 1840-O half eagle has sold at auction since 2012. It is ex Eliasberg, and it is a unique railroad rim error which has hurt its prices realized. It last sold as Stack's Bowers 2024 ANA: 3331, where I bought it for $20,400 and earlier as Heritage 4/2020: 3795, where I bought it; this time for $19,200.

If you are a serious New Orleans gold collector, I don’t have to tell you just how important this coin is!

PCGS has graded five in MS63 (this number is slightly inflated) with just one coin finer (MS63).

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