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Rare and Important 1838-C Classic Five, AU58

1838-C $5 AU58 PCGS. Variety 1-A. Well struck for the issue with no die crack seen on the reverse as on the other variety of this year. This coin has very little--if any--actual wear. The semi-prooflike surfaces are noticeably scuffed but there is no rub on the high spots. Most likely this piece never entered circulation. The obverse shows heavier scuffing than the reverse with the majority of these clustered at the upper right portion of that side. The reverse has scattered marks as well and a small patch of hairlines at the denomination. The color is a nice light green-gold with what looks like some reddish rust-colored stains hidden around Liberty's ear. These do not enter into the planchet and they do not detract from the excellent overall appearance. This is an extremely important coin and a piece that is destined to be one of the more talked-about lots in this collection. PCGS has graded just three pieces in AU58 with a single coin finer. We have not seen more than a handful of comparable 1838-C half eagles including an NGC AU58 (ex: Eliasberg) that sold privately last year by Doug Winter.
Due to its status as a one-year type and a first-year-of-issue, the 1838-C is the most popular Charlotte half eagle. It is the second rarest half eagle from this mint in higher grades. We are aware of just two or three coins in Uncirculated as well as another 10 to 12 properly graded AU pieces.
From The Carolina Circle Collection.(Registry values: P5) (NGC ID# 25S5, PCGS# 8177)

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Auction Dates
January, 2008
Internet/Mail/Phone Bidders: 4
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