Exquisite 1839 Half Eagle to be Offered at Auction!

DALLAS, TEXAS: 1839 was the first year of the new design half eagle created by Christian Gobrecht, and this date is relatively common in circulated grades. Gobrecht's design became a staple of American commerce, utilized on quarter eagles from 1840 to 1907, half eagles from 1839 to 1908, and eagles from 1838 to 1907.

"This example is almost certainly one of the finest known business strikes - two proofs are known - and it is the only example of this grade certified by PCGS with none finer," said Greg Rohan, President of Dallas-based Heritage Auction Galleries. "David Akers commented that 'high grade specimens, i.e. coins grading AU or Unc., are very rare and choice Mint State pieces are virtually unobtainable.' This commentary is equally appropriate today as it was when his words were written in 1979. There are a mere handful of examples extant that are comparable to this specimen."

"This example is sharply detailed with every design element on each side fully defined," Rohan said, "except for stars 1 through 5. A few minor contact marks are evident, along with a small luster break just inside star 12. Both sides have frosty luster with brilliant yellow-gold surfaces, the obverse with tinges of peripheral blue color. The reverse is a shade darker than the obverse with lovely honey-colored gold."

"A raised dot on Liberty's neck is common to every known example of this issue," Rohan continued. "In days gone by, some examples of this issue have been cataloged as 1839/8 overdates, yet such an overdate is highly illogical, and clearly does not exist, in our opinion. With the single exception of the 1796/5 overdate half dime, there are no known overdate varieties of the first year for a new design."

"For the technically minded collector," Rohan added, "it is important to realize that this is not only the first year of a new major design, but it is a one-year type coin, as the head of Liberty was slightly modified in 1840. This issue is also representative of the broad mill coinage of Liberty half eagles that took place in 1839 and 1840, with a standard diameter of 22.5 mm. In 1840, and continuing through 1908, the standard diameter was 21.6 mm. Examples dated 1840 exist with both diameters. Considering all that this exceptional coin has to offer, it will certainly inspire some frenzied bidding in our upcoming auction."

Heritage Auction Galleries will offer the 1839 $5 MS64 PCGS in their upcoming Signature Auction, August 13-14, 2006, to be held at The Warwick Denver Hotel, 1776 Grant Street, Denver, CO, 80203.

1839 $5 MS64 PCGS

Images, descriptions, and prices realized from all of Heritage's previous auctions are available in the Permanent Auction Archives at the Heritage website, www.HA.com.

To reserve your copy of a catalog for any upcoming Heritage auction, please contact Nicole Jewell, c/o Heritage Auction Galleries, 3500 Maple Avenue, 17th Floor, Dallas, TX 75219, or call 1-800-872-6467, ext. 272.