SOLD – $10.00 – 1839/8 Head of 1838, PCGS AU55

1839-8_10_P55_ty38.jpg
1839-8_10_P55_ty38.jpg
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SOLD – $10.00 – 1839/8 Head of 1838, PCGS AU55

13,500.00

Serial Number 8576.55/27737391

PCGS Lookup Number 8576

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Head of 1838, Large Letters reverse.

The eagle denomination was resurrected in 1838 after a 34 year hiatus. In 1838 and 1839, the design featured Gobrecht’s first rendition of the Liberty Head with a Large Letters reverse. Later in 1839, this design was modified. The 1839 Head of 38 is moderately scarce in lower grades, scarce in AU50 and rare in AU55 to AU58. In Uncirculated, this issue is extremely challenging, not to mention very expensive.

This light green-gold example has some yellowish toning with rose flashes at the edges. The surfaces are frosty with more luster remaining than typically seen on similarly graded pieces. The stars are flat at their centers as is common and the surfaces show scattered scuffs. There are a few small marks on the obverse edge including two at 4:00-5:00 which do not impact the great naked-eye appearance of this coin.

The last PCGS AU55 example to sell at auction was Heritage 1/07: 3639 at $12,650. Only two PCGS AU55′s have sold at auction since 2000.

The 1838 is priced out of reach for most collectors, so the 1839 Head of 1838 is a very important two-year type coin. For all intents and purposes, this example is about as nice as this issue can be found.

NOTE:  This coin has not yet been sent to PCGS.