1838 $2.50 Classic Head Quarter Eagle PCGS MS62

The 1838 has one of the lowest mintages (47,030 coins) among Philadelphia Mint Classic Head quarter eagles of 1834 to 1839. The 1834, 1835 and 1836 all have six-figure mintages (the record high going to the 1836 at 547,986 pieces). The Mint's generous output in those years was undoubtedly aimed at replacing old tenor gold coins that were melted due to rising bullion prices. By 1837 much of this had been accomplished, however, and it was not until 1843 that the Philadelphia Mint struck more than 100,000 quarter eagles during a single calendar year. The 1838 is the third rarest Philadelphia Mint issue of the Classic Head design type after the 1839 and 1837. Scarce even in the finer circulated grades, this issue is rare at lower Mint State levels and very rare in Choice and Gem Uncirculated. 

Nice frosty example with a few hairlines in the fields accouting for the Nearly Choice grade. Simply stated though, this coin must be seen to be appreciated. It displays a dense, frosty, and brilliant green-gold color providing a visible improvement over just about every other known example (though it must be mentioned that the finest known is the remarkable MS67 specimen that was sold in the Harry Bass sale in 1999 for $69,000 and again in 2015 for $235,000). Population of 12 coins with 16 finer at PCGS. Current CU Price Guide is $6,000.