RARE ABOUT UNCIRCULATED 1858-S HALF EAGLE

The 1858-S is one of the rarest pre-Civil War half eagles from the San Francisco mint. There are an estimated five dozen or so known, mostly in the VF-EF range. There are likely ten or so known in properly graded AU but almost none are choice and original, well preserved examples are exceedingly rare. I recently sold a stunning PCGS/CAC AU58 which was the best I’d ever seen; this piece is the second best 1858-S half eagle that I have handled in many years.

This piece is from an older collection and it has been off the market for a number of years. It has a very fresh appearance and shows enough luster and “body” for consideration at a higher grade. The color is right for the issue with attractive orange-gold and russet hues while the surfaces are moderately abraded with no individual marks worthy of description.

No PCGS AU50 1858-S half eagle has appeared at auction since 1997. A PCGS AU53 sold for $4,700 as Heritage 9/15: 4178 but it had a noticeable mint-made defect on the obverse rim.

As more collectors recognize the rarity of No Motto San Francisco half eagles, issues such as this rare 1858-S are destined to show increased demand and, possibly, a rise in prices as a result.

CAC has approved just four examples of this date. Only one (AU58) has been approved in any grade higher than AU50.