WB-102. Very Small Mintmark variety. Coin Facts Plate Coin.

The 1840-O half dollar is numismatically significant as the first Liberty Seated half dollar from the New Orleans mint. It is common in circulated grades but due to the fact that it circulated extensively (and was later heavily melted) this issue is quite scarce above MS62 to MS63. I am aware of juts a single Gem (graded NGC MS66 and approved by CAC) and it sold for $36,719 as Gardner II: 98478.

This borderline Gem is fully original with deep lilac-gold pastels with underlying flashes of natural silver on the obverse; the reverse is lighter in hue with less intense color. The strike is excellent and the surfaces are very clean save for a few ticks hidden below the toning on the obverse.

All of the auction records for PCGS MS64 examples are for this exact coin; see below.

In my opinion, New Orleans half dollars from the 1840′s are extremely good values at current levels as illustrated by this coin: quite possibly the second finest known example of an important first-year-of-issue yet still priced in the high four figures.

CAC has approved one in this grade and one finer (MS66).

Ex Stacks Bowers 2013 ANA: 4111 at $10,575, earlier sold as Lot 4947 in the Heritage 2012 ANA auction where I purchased it for $8,050. In both sales, the coin was not approved by CAC.