The arrangements for refining the precious metals are on an extensive and greatly improved plan; these, with the powerful machinery moved by steam, used in rolling the ingots and stamping and milling the various coins, render the Mint an object worthy of particular attention to the citizens as well as visiting strangers. In a national point of view, however, the Mint will always be regarded, as one of the most important institutions, as the quality of our currency (which is essentially connected with every form of business) will chiefly depend upon the purity and extent of its operations.” — Daniel Bowen, A History of Philadelphia With a Notice of Villages in the Vicinity, 1839</em>Stunningly toned with a rarely encountered blend of pale green and dusky rose over deep yellow gold surfaces, this coin presents a look of elegant originality. Exceptional cartwheel luster enriches the appeal of both sides, presenting a satiny halo around the central devices and setting every underlying tint alight as it passes. Boldly struck from fresh dies, this first issue of the Coronet type showcases the designs perfectly. Very trivial hairlines are present, including a light batch in the lower right obverse, and a thin scratch crosses Liberty’s neck parallel to star 2. An even shorter hairline scratch is barely visible beneath TE of UNITED. The fields and devices are remarkably clean of contact marks, with only a faint abrasion at the corner of Liberty’s eye and a single nick above the eagle’s head visible to the naked eye. Secreted away in the estate of James A. Stack for decades until sold by Stack’s in 1994, this coin was likely acquired during his period of greatest activity in the 1940s. Stack, no relation to the New York coin dealers of the same name, acquired “131 half eagles, 1795-1910, and 20 eagles, 1795-1846” from the E.H.R. Green estate from Stack’s on December 14, 1943, according to an invoice sold in George Frederick Kolbe’s January 2010 sale. Stack was also an active buyer in auctions conducted by Stack’s, B. Max Mehl, Wayte Raymond, and others. David Akers records two Uncirculated 1839 half eagles selling in the 1940s, one in the Mehl sale of the Belden Roach Collection and the other in Stack’s offering of the Col. James W. Flanagan Collection. According to Akers’ research, after these two cabinets were dispersed in 1944, no other Mint State 1839 half eagle was sold at auction until 1967. The provenance of this coin before James A. Stack acquired it is unknown, but it likely came from the Green estate or one of these two sales.A more pleasing example of this issue probably does not exist. As the first issue with Christian Gobrecht’s new portrait of Liberty, the 1839 half eagle assumes special importance for type collectors, particularly those who pursue first-year issues. The relatively large mintage of 118,143 half eagles this year obscures the rarity of this coin in Mint State. Circulated examples, though very popular, are relatively commonplace. There is significant duplication among the population data of lower-graded Mint State examples. PCGS has graded only two 1839 half eagles MS-64. This coin would likely win a majority opinion as the finest known specimen.PCGS# 8191. NGC ID: 25S7.
