1838-C $2.50 Classic Head Quarter Eagle PCGS AU53

The 1838-C quarter eagle is very popular for two significant reasons. This is a first-year issue, and is one of just two Charlotte quarter eagles that present the Classic Head, Obverse Mintmark design. Due to its popularity and robust demand, there is constant pressure on its price. Plus, with its mintage of 7,880 the 1838-C is a rare coin to begin with. Typically seen in VF and XF grades, it becomes rare in AU grades. Writes gold specialist Doug Winter, "Many of the best known 1838-C quarter eagles came onto the market in the early 1900s, indicating that a small hoard may have been discreetly sold during that time."

PCGS has graded 14 as AU53 with 37 finer. Collectors Universe prices this issue at $15,000.00 in AU53.

William Kneass, the Chief Engraver of the U.S. Mint, who crafted the Classic Head design. Image: Wikimedia Commons.

The strike of the 1838-C quarter eagle is much sharper than the half eagle produced by the Charlotte that same year. The obverse of this issue always has better details than the reverse. The curls of the hair above the ear are weak, however there is strong detail in the rest of Liberty's hair. Typically, the stars are blunt and typically do not exhibit their radial lines. The denticles are quite sharp and long on the obverse.

There is weakness on the strike on the reverse at the juncture of the shield and the eagle's right wing. The eagle's left wing is always weaker at the top than near the bottom. Writes Winter, "The leg and the claws are sharp and the neck feathers are usually mostly visible. The denticles are weaker at the top of the reverse than at the bottom."