CHOICE, ATTRACTIVE 1840 HALF EAGLE GRADED MS62 BY CACG

Narrow Mill Variety.

In 1840, the half eagle was redesigned. The primary change was the neck of Liberty which became less curved than on the 1839 design. Varieties of 1840 half eagles exist with wide milling (as on the 1839 design) and narrow milling (as on the 1841 issues).

The 1840 Narrow Mill is very common in circulated grades. It is scarce in MS62, rare in MS63, and extremely rare in Gem. In their 2022 FUN auction, Heritage sold the single finest known of this variety: a gorgeous PCGS/CAC MS65+ for a record-setting $240,000.

This is a flashy example with exceptional eye appeal for the grade. It has a hybrid surface which combines intense frost with mirror-like reflectiveness. This unfortunately tends to amplify the intensity of the abrasions which are seen on both sides of this coin. You’ll have to trust me when I tell you that these marks are far less dramatic than they appear in the attached images.

No CAC approved 1840 half eagle graded MS62 (or MS63) has ever sold at auction and the last non-CAC piece sold in June 2017.

In my opinion, this is a dramatically undervalued date in this grade and it would be a savvy purchase for the value-conscious collector looking for issues with growth potential.

CAC has approved just three in MS62 with two finer. This doesn’t include this specific coin.

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