1858-C $5 XF45 PCGS....

Description

Extremely Rare 1858-C Variety 26-L Half Eagle, XF45

1858-C $5 XF45 PCGS. Variety 26-L was described in Doug Winter's Gold Coins of the Charlotte Mint 1838-1861, as quite scarce, but more recently was believed nonexistent. Now we present an example of variety 26-L.
Reverse K has the mintmark mostly over the V in FIVE, with its right edge over the left edge of the upright of E. The point of the arrow feather is over the inner curve of the C.
Reverse L has the mintmark mostly over the E in FIVE, with the right edge of the mintmark nearly over the center of that letter. The point of the arrow feather is entirely left of the mintmark, and this is the easiest diagnostic. This die also has a bold crack from the border below the left edge of the F in FIVE, across two dentils and through the field to the upper left serif of the U in UNITED. The crack seems to end at that letter, but might possibly continue across UNITED in later die states. It appears that reverse L was only used for this single variety, and the possibility of a terminal die state with extended die cracks or even a rim break certainly exists.
A review of the Heritage Permanent Auction Archives shows that we have previously handled three examples of 26-L, one misattributed and two others unattributed: 1) NGC AU55. Heritage (9/2006), lot 3533. 2) NGC AU50. Heritage (11/2002), lot 7600. 3) PCGS AU50. Heritage (1/2000), lot 7760.
This piece has excellent detail with pleasing medium yellow surfaces and splashes of deep orange patina in the protected field areas close to the devices. Both sides have moderately abraded surfaces, consistent with the grade. The die variety specialist of Southern mint gold coinage should carefully consider this important opportunity.(Registry values: P3)

Coin Index Numbers: (NGC ID# 25V8, PCGS# 8277, GSID# 9026)

Metal: 90% Gold, 10% Copper
Weight: 8.36 grams
AGW: 0.24188oz
Mintage: 38,856

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.

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