1838-C $5 Classic Head Half Eagle PCGS AU50 Ex. Fairmont Collection

Formerly sold in the Fairmont Collection-Hendricks Set by Stacks Bowers for $21,500 on April 2022, Lot #5009, and described as:

1838-C Classic Head Half Eagle. HM-1, Winter-1. Rarity-4+. AU-50 (PCGS). Historic First Year Charlotte Mint Issue

Offered is a stunning About Uncirculated example of a historic and popular, yet extremely challenging half eagle issue. Both sides retain generally sharp detail that points to a superior quality of strike by the standards of the Charlotte Mint. Appreciable luster remains, and the surfaces exhibit warm, even honey-apricot color that provides strong eye appeal.

The first Charlotte Mint half eagle, the 1838-C is also the only one of the Classic Head design type. The Guide Book provides a mintage of 17,179 pieces, although an analysis done by Clair M. Birdsall (reported in Haynor, 2020) came up with a mintage figure of 19,118 coins. The discrepancy concerns the number of examples struck from the die pairing now known as HM-2 (10,959 vs. 12.688), which were delivered during calendar year 1838. The only other die marriage confirmed, HM-1 offered here, was struck from February 19 through April 16, 1839, for a net mintage of 6,220 pieces excluding 13 coins reserved for assay. Dies for the new Liberty Head half eagle did not arrive at the Charlotte Mint until May 1839, hence the use of the 1838-dated Classic Head dies during the first months of 1839.

Extremely popular with collectors, the 1838-C is also highly elusive with most survivors grading no finer than VF. About Uncirculated coins are particularly rare, especially with the originality, superior quality and strong eye appeal that define the present example.

Provenance: From the Fairmont Collection-Hendricks Set.

PCGS Population: 12; 15 finer, two of which are Mint State (MS-63+ finest).