1838 Classic Head Half Eagle. HM-1. Rarity-3. Broken Arrow. MS-64 (PCGS). CAC. <strong>Die Variety: </strong>HM-1. Obverse 1: The Center Dot obverse of the issue, with a prominent centering dot within Libertys ear. This is the only use of this obverse die. Reverse L: The middle arrow shaft is broken within the eagles talon, the only reverse of the issue with this feature. Reverse L appears in only one other pairing in the Classic Head half eagle series, HM-2 of the 1837 issue.<p><strong>Die Emission Sequence: </strong>These preceded the 1837 HM-2 variety in the emission sequence for late date Classic Head half eagles.<p><strong>Die State: </strong>This is an early die state example from the 1838 HM-1 pairing that displays only a trace of die deterioration at the reverse border outside the fourth leaf from the top in the branch and the eagles right wing tip. Clash marks from Libertys portrait are evident in the reverse field around the eagle. While these are seen on all 1838 HM-1 coins, they are curiously absent on the 1837 HM-2 examples struck later, suggesting that the reverse was lightly lapped in between the striking of these two varieties.<p><strong>Estimated Surviving Population for the Variety:</strong> 335 coins in all grades (per Daryl J. Haynor, 2020), or 48% of extant 1838 Classic Head half eagles.<p><strong>Strike: </strong>This expertly produced example exhibits overall sharp to full striking detail that wanes minimally only on the reverse along the top of the eagles left wing.<p><strong>Surfaces: </strong>Satin to softly frosted surfaces with modest semi-reflectivity that form halos around the central design elements. The color is a vivid medium gold throughout, the obverse with a tinge of intermingled orange-apricot iridescence. Smooth in hand and bordering on full Gem quality, this premium Choice example was obviously preserved with the utmost care since the time of striking.<p><strong>Commentary: </strong>The scarcer of the two die marriages known for the issue, the 1838 HM-1 represents fewer than half of all survivors and only around one-third of Mint State examples. The 1838 half eagle is scarce to rare in all Uncirculated grades regardless of attribution, and with an authors grade of "MS64+/A" this outstanding offering from the Virginian Collection is ranked CC#6 in Daryl J. Haynors 2020 listing for the issue. It is equally well suited for an advanced type set or high grade collection focused on Classic Head gold. PCGS# 765246. NGC ID: 25S4. PCGS Population (both die marriages of the issue): 20; 6 finer (MS-66 finest).<p>CAC Population: 2; 2. From the Daryl J. Haynor Virginian Collection. Earlier from Heritages Chicago ANA Signature Auction of August 2014, lot 5650. The plate coin for the 1838 HM-1 variety in the 2020 Haynor reference on Classic Gold coinage.
