1848-C $5 MS64 PCGS Secure. CAC. Variety 1....

Description

1848-C Half Eagle, Semiprooflike MS64
A Major Rarity in Mint State
Tied for Finest Known

1848-C $5 MS64 PCGS Secure. CAC. Variety 1. The 1848-C is a better date in the Charlotte half eagle series, particularly in AU or better grades. In Gold Coins of the Charlotte Mint, third edition, Doug Winter writes: "When the first edition of this book was released in 1987, [the 1848-C] was unknown in Uncirculated. Two decades later, a small number of Mint State pieces exist but it remains extremely rare in Uncirculated."

Winter's estimate is that only three to five Mint State 1848-C half eagles are known, although the certified population may exceed that by two or three coins. PCGS and NGC combined report a dozen pieces in various Uncirculated grades, including likely resubmissions (3/17).

Without a doubt, the finest are three MS64 coins, two graded by PCGS and one by NGC. The NGC coin is ex: Eliasberg/Clapp, and was at one point many years ago graded MS65 by the same service. That piece and one of the PCGS MS64s (ex: Harry Bass) have made frequent auction appearances over the last couple of decades, always commanding strong prices.

The third top-grade coin is the present example, with an unknown previous pedigree. Housed in a Secure holder and CAC-approved, it showcases semireflective fields and sharply defined border regions. The central devices exhibit trivial weakness on the hair curls around Liberty's face and the reverse fletchings. A loupe reveals only a few tiny ticks that are consistent with the grade.

This coin represents the first auction appearance of a top-grade 1848-C half eagle in more than five years. The last offering of an example in this grade was the Bass PCGS coin, which appeared in lot 4888 of our January 2012 FUN Signature sale and realized $57,500. The present example is every bit its equal in technical and visual merits. With both other top-grade coins tightly held off of the market, we anticipate spirited bidding when this Condition Census Charlotte gold rarity crosses the auction block. Population: 2 in 64, 0 finer. CAC: 3 in 64, 0 finer (3/17).(Registry values: P4)

Coin Index Numbers: (NGC ID# 25TT, PCGS# 8237, Greysheet# 8988)

Weight: 8.36 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View Certification Details from PCGS