1868-S Liberty Head Half Eagle. MS-61 (PCGS). OGH.，Offered is an extraordinary condition rarity that is sure to appeal to astute gold enthusiasts. This beautiful Mint State 1868-S half eagle presents a light dusting of pale silver iridescence on deep, vivid, orange-gold patina. The strike is suitably bold for a San Francisco Mint gold coin from the late 1860s, with the detail sharp over all but a few isolated design elements. The mintmark is small and, while this feature is often faint and difficult to discern on circulated examples, the superior preservation of this coin has left the S as sharp and clear as the day of striking. The finish is semi-prooflike, with reflective fields supporting satiny devices. This is an exceptionally attractive coin for both the issue and the assigned grade.<p>Half eagle production at the San Francisco Mint ratcheted up slightly in 1868 to 52,000 pieces, the highest mintage for the denomination at the West Coast facility since the 1857-S. Unlike at the Philadelphia Mint where little bullion was available after the suspension of gold specie payments in December 1861, production of gold coins at San Francisco remained tied to commercial needs throughout the Civil War and early Reconstruction eras. It was these commercial needs that caused the demise of most 1868-S half eagles. Although a slightly higher mintage means that this issue is more obtainable in circulated grades than the 1866-S and 1867-S, the 1868-S is still scarce even at the Fine and VF levels. Extremely Fine and About Uncirculated coins are rare, while in Mint State this issue is a major condition rarity, with only four grading events at PCGS and NGC combined. Neither service has certified an example finer than MS-61, confirming the high Condition Census standing of the coin offered here. This may be the Lester Merkin 3/69:309 specimen, the only Mint State 1868-S ever offered when David W. Akers compiled his magisterial study of half eagle auction records.<p>，From the A.J. Vanderbilt Collection. Earlier ex Heritages FUN Sale of January 1997, lot 6650; via Stacks. Possibly earlier from Lester Merkins sale of March 1969, lot 309, the only known offering for a Mint State 1868-S half eagle prior to this coins appearance in the aforementioned 1997 Heritage auction.，
