The 1838-D half eagle is one of the few southern branch mint gold coins with true multiple levels of demand. It is desirable as a first-year-of-issue and it is a distinct one-year type featuring the popular Classic Head design. It is most often seen in VF-EF grades and only occasionally available in the lower AU range. Properly graded AU58 1838-D half eagles are very rare and generally offered for sale around once every two or three years.

This coin is fresh to the market and it has an interesting backstory. I purchased it from a foreign coin dealer at the recent Long Beach show and he had recently purchased it, raw, from an old-time collection which had just become available. This coin is clearly original with lovely deep natural russet color that deepens at the borders. There is just a small amount of wear confined to the high spots and much of the luster is visible. The eye appeal is far above average for the date and grade.

The last AU58 example to sell at auction was Heritage 4/12: 5263. Graded AU58 by NGC, this coin was not CAC approved and it realized $25,300. No CAC approved AU58 has ever sold at auction.

If you specialize in high quality Dahlonega half eagles, I don’t have to tell you how important this coin is. If you like to buy “cool” coins which are easy to sell when the time comes, I think this 1838-D fits the bill.

CAC has approved two in this grade with just one finer (MS62).