CAC APPROVED 1838-C $5 GRADED AU50 BY NGC

HM-2, R-5+. A rare variety.

This ultra-popular first-year-of-issue is also a distinct one-year type. It is scarce in properly graded EF45 and AU50, and very rare in nice AU55 and finer. This is made abundantly clear by the tiny CAC population of just two coins in AU50 and a scant four finer.

This coin is about as original as this date comes with deep honey-gold and russet hues covering lightly abrades surfaces. Partially due to the massive bisecting reverse crack, the strike is somewhat weak. I personally like this coin better as an EF45 and it is priced at a discount in relation to a choicer PCGS/CAC AU50 which I would price at $27,500-30,000 (strictly hypothetical—of course—as there is no PCGS AU50 with CAC approval currently extant).

Legend 2/2021 graded EF45 and approved by CAC, sold for $16,450, while two PCGS AU50 examples without CAC approval both sold for $21,600; one as Stack’s Bowers 4/2022: 5009, and Stack’s Bowers 11/2023: 369.

If you are an advanced collector of either Classic Head gold or Charlotte half eagles, you need—and will want—to own this impressive 1838-C $5.

CAC has approved two in this grade with four finer.

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