1839 Gold Eagle|1839 Large Letters Head of 38 $10 NGC AU58

1839 $10 Large Letters Head NGC AU58. Important 2-year type. Fresh, bold & lustrous. 1839 $10 (Large Letters, Head of 1838). Second and last year of the original Liberty head design, which was continued in altered form until the early 20th century, and an important type as such. Often forgotten as being a separate type, but when viewed side by side this coin is much different from the 1840 to 1907 type, in particular in the form of Libertys head on the obverse. The first year of issue, 1838 is a prime rarity in any grade, but with a mintage of 25,801 circulation strikes the coin offered here can not be considered common at all. In fact, in certain grades this issue appears to be almost as rare as the 1838 eagle.

While generally overlooked by most numismatists, the author thinks that this type looks far more superior to the later type. The main difference is the placement of the head, which appears to be looking down. The truncation of the neck is sharper, and Libertys hair appears to be sharper defined. The reverse is the regular type, which was also used on subsequent issues, except for minor differences in the lettering (noted on the new NGC slab as large letters).

Of the total mintage it has been estimated that only 300 pieces, perhaps less are still in existence in all grades. Of these, only an extremely small number has been graded mint state, and even the low populations appear to have been influenced by resubmissions. This also appears to be the scenario in this grade, as the number of auction appearances indicate a much lower number of coins graded AU-58, than the population of 34 would suggest.

A near miss mint state coin, only the slightest wear is visible on the highest points. Furthermore, both sides show ample luster, and relatively few contact marks for these well-circulated gold coins. Both sides are completely original, with a crusty orange-yellow look which is appreciated by many numismatists. The strike is near full, and overall the eye-appeal is strong. A great coin and rare opportunity for the specialist or advanced type set collector.