Variety 1. Perfect reverse die.

The 1838-C is the most popular half eagle from this mint and one of the most avidly sought-after branch mint gold coins. It is in demand as a first-year-of-issue coin and a one-year type as well as being a member of the Charlotte half eagle series. It is not scarce in terms of total number known but it becomes hard to find in EF grades and is very scarce to rare in properly graded AU.

As with nearly all examples of this issue, the surfaces show numerous ticks and evidence of circulation. The color is a medium green-gold and it is likely that this coin was cleaned years ago but has subsequently regained nice natural color. The strike is average for the date with weakness at the centers but I think PCGS has nailed the grade on this coin and it has good eye appeal for an EF40.

The last two PCGS EF40 1838-C half eagle sold for $10,575 and $11,500; one coin (ex Heritage 8/13: 5065) had CAC approval while Heritage 5/12: 4987 was in an old green holder.

The level of demand for this issue is at an all-time high and I see no reason why it won’t continue, given its multiple levels of collector interest.