The 1838-D is numismatically significant as the very first coin struck at the new Dahlonega mint. It is also a one-year type and it has very high multiple levels of demand; more so than virtually any coin from this mint. It is not a rare issue per se but it is extremely hard to find in collector grades with natural color and choice surfaces.

This fresh-to-the-market example has the skin and appearance of a slightly higher grade but it is properly in an AU50 holder due to some old circulation marks in the fields and on the devices. The color is a nice greenish-gold hue which deepens to fiery reddish-orange at the borders. The strike is average for the issue with some minor softness at the central obverse while there is ample luster evident on both sides. This is a good looking example with light, honest circulation.

A non-CAC PCGS AU50 1838-D half eagle brought $11,801 as Heritage 4/14: 6326. Only three PCGS AU50 examples, in total, have been auctioned since the beginning of 2014.

For most Dahlonega collectors, AU50 is the ideal grade for an 1838-D half eagle and to find a coin in this grade which is in a PCGS holder and has a CAC sticker is truly finding a “needle in a haystack!”

CAC has approved this one coin in AU50 with nine finer.