Beginning with this date, the rarity complexion of San Francisco half eagles take on a much different complexion than on the issues struck prior to 1878. The mintage figures are substantially higher than before and the distribution pattern(s) change with more coins being saved or shipped to Europe. That said, high grade examples of the 1878-S are very rare and this date appears to be unique in Gem Uncirculated.

The visual appearance of this coin is wonderful and, at first glimpse, it has the appearance of an MS65 to MS66. It has been graded MS64+ on account of two small reeding marks, from contact with another coin, in the left obverse field near the second star. Without these marks, this coin is a Gem all day long and would be worth $25,000. The luster is frosty and visually appealing with an overlay of soft natural orange-gold which changes to light green at the border.

This is one of the finest pre-1880 San Francisco half eagles I have ever seen and it would make an interesting addition to a type set that features unusual dates in unusual grades.

This is the only CAC approved example in this grade and the only piece assigned a plus grade by PCGS.