Variety 31-V.

The 1851-D is the fifth rarest half eagle from this mint but it is likely the third rarest in high grades. Around three dozen exist in AU but nearly all are in the lower grade range and properly graded AU55 to AU58′s are genuinely scarce. I know of only four or five Uncirculated 1851-D half eagles and all of these are off the market in tightly-held collections.

This is a conservatively graded example with enough luster and body to strongly suggest an AU58 grade. As usual, there is weakness of strike at the centers but the detail is above average and the mintmark is bold. Both sides show nice light yellow-gold hues which are “right” for the issue. No marks of significance can be seen with the naked eye and the overall eye appeal is excellent for the issue.

The last PCGS AU55 1851-D half eagle to sell at auction brought $4,169 as Heritage 11/06: 2202.

This coin, which has been off the market since 2001, is the nicest 1851-D half eagle I’ve handled in a number of years. If you collect this series by date, you know how rare a nice 1851-D is and how unlikely it is that a nicer piece will be available any time soon.

CAC has approved one in this grade with just two finer.