SOLD- $10.00 – 1839 Large Letters, Head of 38, NGC AU58

1839_10_N58_head38.jpg
1839_10_N58_head38.jpg
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SOLD- $10.00 – 1839 Large Letters, Head of 38, NGC AU58

12,750.00

Serial Number 1576159-005

PCGS Lookup Number 8576

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The new Gobrecht Liberty Head design was introduced to the revived Eagle coinage in 1838 and it continued through the middle of 1839 when it was modified. The so-called Head of 1838 is very popular as a distinct type coin and with the first year 1838 issue being rare and expensive, collectors trend to focus on the 1839 issue. The 1839 Head of 1838 is moderately scarce in lower grades and there are an estimated 250-300 known from an original mintage of 25,801. This date is not often seen in the higher AU grades and most of the coins in AU55 and AU58 holders are scrubby and unoriginal.

This choice russet-gold example has fully natural color atop lightly marked and minimally worn surfaces. The coloration is even and is “right” for this issue. Luster lurks in the recesses and the strike is sharp with good details seen at the centers and the border. The eye appeal is excellent.

A total of four NGC AU58′s have sold at auction since the end of 2011 with a low price of $12,350 and a high price of $13,513.

It is interesting to note that will prices for the 1838 eagle have soared in the last decade, its cousin the 1839 Head of 1838 has not shown as much price expansion. With the 1838 now out of reach for most collectors, it seems inevitable that the 1839 will see future appreciation.