LIKELY THE FINEST KNOWN 1848 HALF EAGLE

A total of 260,775 1848 half eagles were made but this date saw extensive use in commerce as well as subsequent meltings. As a result, there are fewer than two dozen remaining in Uncirculated with most in the MS60 to MS62 range. Properly graded MS63′s are rare and MS64′s are extremely rare with three known to me. The present example is likely the finest known 1848 half eagle.

The obverse is semi-prooflike with nice contrast between the frosted device and the reflective fields; the reverse is more frosty than reflective. Both sides show natural delicate rose and orange-gold hues with a few deeper toning streaks seen at the lower obverse. The obverse is stunning with marvelous eye appeal and a Gem appearance; the reverse shows a few minor scuffs above and behind the eagle.

There are likely only two other MS64′s known. The first, last seen as Bass II: 286, sold for $24,150 all the way back in October 1999. The second, graded by NGC, sold for a reasonable $16,675 as Heritage 8/04: 7290.

This is an amazing coin which would either fit well into the finest set of Liberty Head half eagles or it might make a nice No Motto type coin.

Ex: Milas: 471 (Stack’s 5/95) where it sold for a then-record price of $23,100.