Small Diameter (or Narrow Mill), as designated on the holder by NGC.

This numismatically significant issue is the first half eagle produced at the New Orleans mint. It is curiously underrated when compared to the 1838-C and 1838-D half eagles (both are first year issues as well) but it is more available than either of these. In choice, original AU55 to AU58, this coin is much scarcer than its high population figures would suggest.

This fresh-to-the-market coin shows attractive deep green-gold color which is contrasted by rings of deeper hues at the borders. The surfaces are clean and show subdued luster. Unlike most 1840-O half eagles, this piece hasn’t been cleaned or dipped and its originality is a refreshing change of pace. A small mint-made strip of roughness can be seen below the O in OF on the reverse.

There have been eight NGC AU55′s sold at auction since 2005 with prices ranging from a low of $1,610 to a high of $2,300. Not a single one of these was approved by CAC and most were stripped and low end for the grade.

A great, affordable piece for the New Orleans collector who appreciates truly original coins.

CAC has approved just four in this grade with two finer (both AU58).