HARD TO LOCATE 1857-C $5.00 GRADED MS61 BY PCGS AND CAC APPROVED

1857 was a busy production year for half eagles (and for Gold coins in general) with all five of the then-current mints striking the denomination. Mintages range from a low of 13,000 for the 1857-O  to a high of 87,000 for the 1857-S. The 1857-C is the third scarcest of the 1857 dated half eagles with a mintage of 31,360 coins in total.

In my experience, this is a reasonably acquirable issue based on the overall availability of half eagles from this facility. In strictly graded Uncirculated, the 1857-C is a rarity with around 10 to 12 known. The best I have seen was the silky PCGS MS63 that set a record price for this issue  as Heritage 2024 FUN: 4343 at $52,800; this exact coin had sold for $45,600 as Heritage 10/2022: 3206.

PCGS has graded a total of 12 of these in MS61 which doubtlessly includes a few resubmissions with nine finer. The best are three PCGS MS63 coins of which one is not choice, in my opinion. The PCGS price of $18,500 fails to take into account the sale of a PCGS/CAC MS61 for $21,600 as Stacks Bowers 4/2022: 5085. The CAC website gives a retail price of $20,000.

This coin is indisputably“new” as it lacks the conspicuous rub seen on many—if not most—gold coins from this era in MS61. It has 100% natural medium golden-orange color over frosty, lightly abraded surfaces. The obverse of this coin seems more like an MS62 than its current MS61 grade.

Here is a perfect type coin for the collector seeking a single high grade half eagle from the always-popular Charlotte branch mint.

CAC has approved three in MS61 (along with a single piece graded MS61 by CACG) with just two finer; both of which grade MS63.

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