1835 Classic Head Half Eagle. HM-5. Rarity-6+. EF Details--Damage (PCGS). <strong>Die Variety:</strong> HM-5. Obverse 2: The three obverse dies of this issue are easily distinguished by the style of the digits in the date. Obverse 2 has a block 8 with a small, curved flag on the 1. The letter E in LIBERTY is repunched. It appears in both the HM-5 and HM-6 pairings of this issue. Reverse E: One of the most instantly recognizable dies in the entire Classic Head half eagle series, Reverse E is the only one on which a leaf in the olive branch nearly touches the letter U in UNITED. The HM-5 represents one of only two uses of the rare Reverse E in the Classic Head half eagle series.<p><strong>Die Emission Sequence: </strong>The 1835 HM-5 pairing follows the 1835 HM-3 and precedes the 1835 HM-6 in the die emission sequence for this issue. The first two varieties share the same reverse, with HM-5 and HM-6 sharing the same obverse.<p><strong>Die State: </strong>Reverse E cracked early in the HM-5 marriage, explaining the extreme rarity of examples. The present example, however, is an early reverse die state without the crack.<p><strong>Estimated Surviving Population for the Variety:</strong> Only 15 coins in all grades (per Daryl J. Haynor, 2020), or just 1.2% of extant 1835 Classic Head half eagles.<p><strong>Strike: </strong>Softness to the obverse strike mingles with light wear to explain the bluntness to the higher hair curls of Libertys portrait. The reverse is both better struck and better defined with considerable sharpness overall.<p><strong>Surfaces: </strong>Attractive medium gold color blankets surfaces that retain faint traces of the original mint finish in the protected areas around the design elements. Wispy hairlines are noted, as are a few minor grazes and scuffs in the upper obverse and reverse fields. The PCGS qualifier seems harsh to us as there is little here to distract the eye during in hand viewing. In fact, this coin was once certified EF-45 by NGC, as the accompanying NGC insert #2705322-010 confirms.<p><strong>Commentary: </strong>The 1835 HM-5 is one of the most significant and desirable die pairings in the entire Classic Head half eagle series for a number of reasons. It is the die marriage used to strike the 1835 Proofs, represents one of only two uses of the rare Reverse E, is the most elusive die pairing of the circulation strike 1835 and, per Daryl J. Haynor (2020), "may be the rarest marriage in the entire series. The 1836 HM-9 Script 8 is the worthy challenger for top rarity honors." In fact, Haynor lists only 12 specimens, comprising three Proofs and nine circulation strikes, one each of which is permanently impounded in museum collections (Smithsonian Institution and ANS, respectively). The present example is one of only a dozen or so survivors from these dies available for private ownership and should be a leading highlight in another world class Classic Head gold coin cabinet. PCGS# 765211. NGC ID: 25RV. From the Daryl J. Haynor Virginian Collection. The plate coin for the 1835 HM-5 variety in the 2020 Haynor reference on Classic Gold coinage. NGC insert #2705322-010 with a grade of EF-45 from an earlier certification of this coin included.