The 1838-D is certainly not the rarest half eagle from this mint but it may well be the most popular; or certainly one of the few which have multiple levels of demand. It is the first half eagle struck at this mint and it is a one-year type which features the popular, short-lived Classic Head design. It is not often seen in the lower to middle AU grades and it becomes rare in AU55 to AU58. I just sold an NGC/CAC MS62 example which was the first Uncirculated 1838-D which I have handled in a number of years.

This is a choice and visually appealing example struck in medium green-gold. There is more than enough luster present to suggest an AU55 grade and I have unquestionably seen inferior examples in holders marked as such. Some light orange-gold splashes have formed on the obverse and the detail is excellent with sharper centers than usual for the issue.

The last PCGS AU53 1838-D half eagle to sell at auction was a non-CAC example offered as Heritage 10/12: 5852; it brought $14,100. Heritage 7/12: 4849, graded AU53 by PCGS and approved by CAC, brought $13,815. In my opinion, the market for this date in this grade has advanced at least 10-15% since these two sales occurred in 2012.

This is a lovely example of a popular, numismatically significant issue and it should create a stir among Dahlonega collectors.

CAC has approved three in this grade and three finer.

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