RARE CHOICE AU 1865-S HALF EAGLE

While more available than the other Civil War half eagles from San Francisco, the 1865-S is no slouch when it comes to availability. Of the 27,612 struck, fewer than 100 are known and most are in the VF-EF range. Properly graded AU examples are quite rare, especially with natural color and choice surfaces. There are likely fewer than a dozen known in AU.

This fresh-to-the-market example displays rich natural russet color with considerable dirt lodged in the protected areas. The surfaces show a few small marks which are most noticeable on the reverse in the upper field. The strike is sharp, the remaining luster can be seen on both sides and the overall eye appeal is excellent for the date and grade.

The only PCGS AU53 to sell at auction since May 2000 brought $6,325 as Stacks Bowers 8/11: 9432 and that piece didn’t have CAC approval. An NGC AU55 brought $8,813 as Heritage 8/14: 30319 and, in my opinion, it was inferior to the coin offered here.

This is just about the best available quality for the date and it is the finest 1865-S half eagle that I’ve handled in a number of years.

CAC has approved one in this grade with none finer. Only six have been approved for the date.