A Rare HM-2 1838-C $5 Half Eagle With Perfect Reverse

The 1838-C $5 Half Eagle is a significant and highly sought-after coin in American numismatic history. Struck at the Charlotte Mint, this coin is particularly notable as the first gold coin minted in Charlotte, North Carolina. Among the known varieties, the HM-2 variety, featuring a perfect reverse, stands out as a remarkable rarity.

The Significance of the 1838-C $5 Half Eagle

The Charlotte Mint opened in 1837 in response to the North Carolina gold rush. The 1838-C Half Eagle was its first gold coin, making it historically important. With a mintage of only 17,179 coins, this issue is already scarce, and finding an example in high grade is exceedingly difficult.

The HM-2 variety is one of the few die pairings used for this issue. What sets it apart is the perfect reverse die, which lacks any die cracks, breaks, or major imperfections—features that are commonly seen in other varieties.

Key Features of the HM-2 1838-C Half Eagle

1. Charlotte Mint Mark (“C”)
   • Located below the eagle on the reverse, indicating its origin from the Charlotte Mint.
   • The “C” is bold and well-defined in high-grade examples.
2. Perfect Reverse Design
   • The HM-2 variety is noted for having no visible die cracks or flaws on the reverse.
   • Many other varieties show die wear, but the HM-2’s reverse appears clean and well-struck.
3. Classic Liberty Head Obverse
   • Designed by Christian Gobrecht, the obverse features Lady Liberty wearing a coronet inscribed with “LIBERTY.”
   • The date “1838” is well-spaced and even, a key identifier for this variety.
4. Sharp Strike and Detail
   • The HM-2 variety exhibits a strong strike, with well-defined eagle feathers and hair curls on Liberty.
   • The denticles (rim details) are usually crisp, indicating careful minting.

Rarity and Collectibility

Because of the small original mintage and the fact that many coins were lost, melted, or heavily circulated, surviving examples are rare. The HM-2 variety is even scarcer, with only a handful of known specimens. Collectors highly prize high-grade examples due to their historical importance and unique features.

• Most surviving pieces are in lower grades (VF to XF), with uncirculated examples being nearly unheard of.
• Auction records indicate that well-preserved HM-2 1838-C Half Eagles can command six-figure prices.

Conclusion

The HM-2 1838-C $5 Half Eagle with a perfect reverse is a remarkable piece of numismatic history, representing the first gold coin struck at the Charlotte Mint. With its scarcity, historical importance, and unique die characteristics, it remains one of the most desirable pre-Civil War gold coins for collectors. Finding a well-preserved example is a rare opportunity for serious numismatists.

Granny’s Garden School

FAQs