1838-D $5 Classic Head Half Eagle, HM-1 PCGS AU55

Here is a rare and beautiful example of the 1838-D $5 Classic Head, an issue that is always in demand among Dahlonega specialists and Classic Head gold collectors. In the HM-1 variety, PCGS has graded 2 as AU55 with just two finer. The finest at PCGS is MS62. Collectors Universe prices this issue at $37,500.00 in AU55.

Doug Winter writes, "The 1838-D half eagle is a very desirable issue. It is the first coin of this denomination struck at the Dahlonega Mint and the only Classic Head half eagle produced at this facility .... its popularity makes it one of the most highly valued Dahlonega half eagles." This example would be perfect for a set of important U.S. gold coins.

Winter also tells us that the “1838-D is the best struck branch mint half eagle of this design.” Of its rarity he writes, “It is fairly easy to locate in Very Fine and Extremely Fine and lower quality About Uncirculated pieces are available. It becomes very scarce in the higher About Uncirculated grades and extremely rare in full Mint State.”

U.S. Mint Chief Engraver William Kneass, who crafted the Classic Head design. Photo: Wikimedia Commons.

U.S. Mint Director Samuel Moore ordered chief mint engraver William Kneass to create a totally new design. To that end, Kneass crafted a dishevel-haired and decidedly boyish Liberty facing left, with thick and curly tresses held in place by a headband inscribed LIBERTY. The date was set below and the handsome, youthful head was encircled with 13 stars. The reverse featured the open-winged eagle from the previous version of the coin, surrounded by the inscription UNITED STATES OF AMERICA and 5 D. Moore decided to delete the scroll that had carried the motto E PLURIBUS UNUM since 1807--to help distinguish the new issues from earlier ones.