1836 $5 Classic Head Half Eagle NGC MS64 (CAC) Ex. SB Pulaski

Note: This coin was sent for review and was endorsed by CAC.

A coin such as this is rarely offered. Besides its great rarity, it is also a survivor of the tragic Steamship Pulaski disaster of June 14, 1838. An explosion on board resulted in her sinking 30 miles off the coast of North Carolina, with the loss of two-thirds of the passengers and crew. Around 59 people survived, while 128 perished at sea. The starboard boiler blew up at 11 p.m., causing substantial damage as the Pulaski was traveling from Savannah, Georgia, to Baltimore, Maryland. She sank in around 45 minutes. It was in 2018 that divers located 14 gold coins and 24 silver coins is a spot "no bigger than a cigar box."

Illustration of the Steamship Pulaski disaster of 1838.

This stunning example is the HM-2 variety. The diagnostic for this variety is the reverse die-crack that bisects the coin from 7 o’clock to 12. In a Heritage Auction listing of January 2022, they report that “AU58 is the top grade known for the scarce 1836 HM-2 variety.” That is according to Daryl J. Haymor’s book, United States Classic Gold Coins of 1834-1839, published in 2020.

PCGS has graded and attributed only 5 examples to be the scarce HM-2 variety, including the AU58 discussed by Heritage. However, NGC documents this offering from AUCM in MS64 as being the “Top Pop” of the 1836 $5 HM-2 variety. Overall, NGC has graded 9 as MS64 with just 3 finer. Collectors Universe prices this issue at $40,000.00 in MS64. In CAC, there are 6 in MS64 with none finer.