1051

1848-D/D $5 AU58 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1848-D/D $5 AU58 PCGS.
1848-D/D $5 AU58 PCGS. Variety 19-N. (per Doug Winter's second edition and revised attribution system). The "D over low D" variety. Die State I with the first mintmark punch plainly seen under light magnification. One of the earliest die states known of this variety and very desirable as such.RARITY INFORMATION: This variety has been known for a few decades but it is still not widely known outside the specialist community. Within this group of collectors, however, the 1848-D/D is widely regarded and it sells for a strong premium over a normal mintmark coin. Viewed as a date, the 1848-D is one of the rarest and most undervalued of all Dahlonega half eagles in higher grades. There are probably fewer than two dozen properly graded AU coins and another five or six pieces in Uncirculated. This variety is extremely rare in higher grades. We believe it is a strong Rarity-7 in AU with perhaps only a half dozen known. There are no 1848-D/D half eagles in any Uncirculated grade and we doubt if any exist. This piece is tied with three others as the finest seen by PCGS as of November 2003 and it is one of the two finest that we are aware of.STRIKE: Most 1848-D half eagles, regardless of variety, are poorly struck and this is one of the most difficult dates in the series to find with good detail. The present coin is very sharp on both the obverse and the reverse. In addition, the first mintmark punch is as sharp as we can recall seeing.SURFACES: There are a few light marks on the obverse including a shallow abrasion below the eye of Liberty and some scratches just past star 7. The reverse shows some light marks in the fields but is free of anything detracting. There are a few strong clashmarks on the reverse above and below the eagle's left (facing) wing and behind its head. The surfaces are exceptional for the variety.LUSTER: A good deal of original frosty luster clings to the surfaces. This is one of the few known 1848-D/D half eagles we have seen with any luster and one of an even smaller number that have not been stripped of their original surfaces.COLORATION: The obverse has probably been lightened at one time but it is naturally retoning to a light green-gold hue. The reverse shows pleasing, natural medium green-gold with an orange-gold overtone.EYE APPEAL: This is an exceptional coin for the variety. It is well struck, very clean and lustrous, and shows relatively good coloration. It is unlikely that a significantly finer example exists.COMPARABLES: The Ashland City Collection: 4769 coin that we sold in our January 2003 auction was also graded AU58 by PCGS; however, it was a die state II piece without clear mintmark doubling. In Bowers and Merena's October 1999 Bass II Auction, lot 992 was graded AU58 by PCGS but was not properly designated by either the auction firm or the grading service as a D/D variety. It sold for $6,900.PEDIGREE: Obtained from Doug Winter via private treaty sale. Important notice: Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid.