RARE CHOICE UNCIRCUATED 1838 HALF EAGLE WITH CAC APPROVAL

McCloskey 2-B. Small Arrows, Large 5.

The 1838 is numismatically significant as the final year of issue for Philadelphia Classic Head half eagles. It is common in circulated grades and only moderately scarce in the lowest Uncirculated range but it becomes very scarce in properly graded MS63 and it is very rare in Gem. The best I have seen is the singular PCGS MS66 which brought a record-setting $253,000 as Heritage 2008 FUN: 3159.

This lovely example is characterized by its conspicuous originality. It is undipped and shows nice natural medium yellow and orange-gold color over clean, frosty surfaces. The strike is sharp as is typical for the issue but the detail is even bolder than usual, especially at the centers. There are a few scattered ticks and lines which limit the grade but this piece is clearly at the top end of the quality range for this issue and to the naked eye it appears more choice than MS63.

No PCGS/CAC MS63 has ever appeared for sale at auction and the last non-CAC PCGS 63 realized $10,000 as DLRC 4/15: 3600. A PCGS/CAC example graded MS63+ sold for a strong $24,675 as Goldberg 1/14: 1787.

Properly graded Classic Head half eagles in MS63 or finer are tough to locate, no matter which date, and this 1838 is perfect for either a type set or a high quality date run.

CAC has approved three in this grade with three finer.