Narrow Mill variety; not designated as such by PCGS.
The 1840 is an important first-year-of-issue as it displays the modified Liberty Head first introduced in 1839. Circulated examples are common but this date is scarce in Uncirculated with around 12-15 known, mostly in the MS60 to MS62 range.
This example is fresh to the market and it exhibits crisp luster which has obviously never been interfered with. The strike is sharper than usual for the date with no weakness at the borders and full radial lines in the stars. The color is a totally natural and very pleasing medium orange gold hue and were it not for a few scuffs in the fields this piece would receive strong consideration at the 63 level.
Only two PCGS MS62′s have sold at auction since 2008 and the last, ex Stacks Bowers 11/11: 9468, realized $4,313. An NGC MS63, which I didn’t like as much as I do this PCGS MS62, sold for $7,638 as Heritage 4/15: 6183. PCGS has only graded four finer than MS62.
This would make an excellent No Motto type coin or it would fir nicely into nearly any advanced set of Liberty Head half eagles.