Large Letters, Head of 1838.

Two distinct types of eagle are known for this year: the Head of 1838 and the rare Head of 1840. The first variety has a mintage of 25,801. There are around 250 known including as many as eight or nine in Uncirculated. Most are in the MS60 to MS62 range and the single finest known, a remarkable PCGS MS66, sold for $402,500 in the 2005 FUN auction.

This example has been off the market for close to eight years and it is notable for its totally original surfaces and nice medium russet color. The strike is very sharp as is often the case for this issue with full details noted at the centers and borders. Some minor mint-made roughness can be seen in the obverse and reverse fields but this coin is literally “as struck” with no signs of wear/rub or mishandling.

There have been three auction appearances for MS62 1839 Head of 1838 eagles in the last decade, all in NGC holders. In January 2011, one brought $31,050 while another realized $33,500 in March 2007. The example offered here last sold for $31,050 in January 2007. No MS63′s have traded at auction since 1999.

This lovely coin should appeal to Liberty Head eagle specialists and type collectors.

Ex Heritage 1/07: 3641, where it realized $31,050.