1838 Half Eagle (1838 $5) NGC AU58. This half eagle shows medium toning on the right obverse field through the date while the left field is somewhat lighter. The darker areas contain a mixture of greens and orange fading to lighter yellow-gold. The reverse is similarly colored with a dark spot of toning on the rim above the ic in “America.” Mint luster is seen throughout Liberty’s hair and ribbon. On the reverse, the eagle is lustrous.

There are several small contact marks on Liberty’s cheek and jaw and a few in the left obverse field. On the reverse there are contact marks under the eagle’s head and in the left obverse field. There is a trace of wear on the high points in keeping with the grade assigned. The coin is fully struck on the obverse and almost so on the reverse with slight weakness on the eagle’s neck feathers. The coin’s design is without the motto “E Pluribus Unum,” indicating a change in weight continued since 1834.

In designing the new half eagle, Engraver William Kneass went back to John Reich’s earlier Classic Head cent of 1808-14. These portray Liberty no longer wearing a Phrygian cap. Instead she wears a headband inscribed with “liberty.” The reduction in weight caused a huge number of pre-1834 coins to be returned to the mint for melting. Much of this gold was used for the new Classic Head half eagles. The new coins rapidly went into circulation with few being saved as souvenirs. Consequently, mint state examples are very rare. Many half eagles of this period were used for jewelry and are seen with traces of solder removal.