1857-S Half Eagle - 1857-S $5 NGC AU58. This near-Uncirculated, Western branch mint 1857-S half eagle has subdued mint luster remaining in protected areas. The coin is well struck with full details on the centers of the stars, Libertys hair, the eagles neck, and the area to the lower left of the shield. Just a touch of wear keeps this super-slider from an Uncirculated grade. The surfaces are original and clean with few abrasion marks for the grade. There is a bit of encrustation within the T and A of STATES.

The San Francisco Mint opened in 1854 because of the need to coin gold resulting from the California Gold Rush. In the West there was an abundance of gold bullion, nuggets and dust; however, there was also an acute shortage of circulating coinage. Congress authorized this mint to relieve the shortage and coin silver and gold and because transportation of bullion to Philadelphia was time consuming and hazardous. Because of its proximity to the Gold Rush area, San Francisco was chosen as the site of the new mint.  In 1874 it moved into a new building called the Old United States Mint or the Granite Lady. It is one of the few structures that survived the earthquake of 1906. It remained in service as a mint until 1938, when the present facility opened.

In its first year of operation the Mint made four million dollars in gold coins from bullion. The second building, the Old United States Mint, was designed by Alfred B. Mullett in Greek Revival style. It was built in an E-shape with a central pediment portico. There was a completely enclosed courtyard that had a well. It was these features that saved it in the fire that resulted from the earthquake of 1906. The building was situated on a concrete and granite foundation that was made to prevent tunneling into its vaults. In 1906 there was $300 million, a third of the United States gold reserves, in its vaults. Frank Leach and his men worked heroically to successfully preserve the building and the bullion. The mint was able to resume service and operated until 1937. It was designated a National Historic Landmark in 1961.

In its population report, NGC shows 20 1857-S half eagles in AU58 condition, and there are 6 better.