OUTSTANDING 1838-C QUARTER EAGLE

Variety 20.

The 1838-C is the most popular quarter eagle from Charlotte due to its status as a first-year-of-issue and a two-year type. It is many times rarer than its counterpart the 1839-C and while higher grade pieces do exist, these have nearly all gone off the market into long-term collections.

I have owned most of the 1838-C quarter eagles graded AU58 by PCGS and this is clearly among the finest. It has unadulterated surfaces which show considerable mint frost below rich russet and reddish-gold hues. There is just the slightest amount of wear seen on the high spots and the fields lack the usual abrasions. Most importantly, the quality of the planchet is exceptional with hard, even surfaces. And if you have ever wondered what a fully struck 1838-C quarter eagle looks like, take a careful gander at the accompanying images.

The last PCGS AU58 example of this date to sell at auction was Heritage 2012 ANA: 5289 which realized $17,625. That coin was also CAC approved and was very choice but I like the present piece even more.

You'd probably have to move up to an MS61/MS62 to get a better 1838-C quarter and, if you can find such a coin, this would mean a $30,000-40,000 investment.

CAC has approved four in this grade with three finer.