Despite a slightly higher (by S-mint standards of the 1850s-1860s) mintage of 27,612 pieces, the 1865-S half eagle is as rare as the 1858-S, 1860-S, and 1863-S. This was a workhorse issue and the highest grade typically encountered is only in the VF range. In fact, Akers ranks the 1865-S second in the entire half eagle series according to condition rarity.