SUPERB AND RARE 1818 HALF EAGLE

BD-1, R-5. Normal Dies.

1818 half eagles are far rarer than their original mintage would suggest and today there are likely around 100 or so known from three distinct varieties. BD-1 has a normal reverse with proper spacing between STATES and OF and no mispunching on the value. As a date, the 1818 is slightly more available than the very underrated to the 1814/3 and it appears to be about the same overall rarity as the 1820. But unlike these other two dates, the 1818 is very rare in properly graded MS63 and above. Most Uncirculated 1818 half eagles are low end and show signs of having been processed.

This fresh-to-the-market example has glorious old green-gold color with splashes of reddish-gold in the fields. This is exactly the sort of color one sees on gold coins from old-time collections such as Norweb, James Stack and Eliasberg and I wouldn’t be surprised if this piece had an exceptional pedigree. The strike is better than usual for the date and variety with mostly full details at the centers and full radial lines in the stars. There are a few minor scuffs in the field which limit the grade but the eye appeal of this wonderful coin is far better than what you would expect.

Heritage 11/14: 3981, graded MS62 by PCGS, had a large rough patch (as made) at the central obverse and it sold for just $19,388 as a result. A better auction comparable is the beautifully toned Newman coin (graded MS62 by NGC and approved by CAC) which brought a strong $38,188 in November 2014.

I have only handled one finer 1818 Normal Reverse half eagle (a PCGS MS63) in over two decades and I’ve seen few Capped Head Left half eagles with this degree of eye appeal and aesthetic beauty. A great coin for an advanced collection.