1862-S Liberty Head Half Eagle. AU-50 (PCGS).The handsome honey-gold surfaces of this1862-S half eagle offer superior technical quality and eye appeal for a highly elusive, conditionally challenging issue. The overall strike is sharp, and wear is appropriate for the assigned grade. In fact, the only mentionable softness of detail is confined to the hair curls over Libertys brow, the eagles neck feathers, and the uppermost arrow feather. Marks are few in number, and wispy hairlines are mentioned solely for accuracy. The 1862-S has a higher mintage than its identically dated Philadelphia Mint counterpart, 9,500 vs. 4,430 circulation strikes. The reason for this discrepancy is that, while gold coins were withdrawn from commercial channels in the East and Midwest in late 1861/early 1862, they continued to see active circulation on the West Coast throughout the Civil War and Reconstruction eras. And circulate this issue did, for most 1862-S half eagles have long since been lost with most of the 100 or so coins believed extant well worn and/or impaired. Mint State survivors can be counted on one hand and the present AU, itself rare from a condition standpoint, represents the finest realistically obtainable for this key date half eagle as far as most advanced gold specialists are concerned.
