1842 $5 Small Letters XF40 认证号18756363, PCGS号8207

The 1842 is so under-rated as is the whole series

David Akers (1975/88)

Contrary to popular opinion, the 1842 Small Letters is not more rare than the Large Letters variety. In my experience, and the auction data confirms it, the Large Letters variety is substantially more rare in all grades than the Small Letters variety. This is not to say that the 1842 Small Letters is not rare because it most definitely is, particularly in high grade. The typically available specimen is VF or EF and AU or Unc. examples are extremely rare.

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Gordon Wrubel

By checking the great photos above, one can see the obvious differences between the Small Letter(SL) and Large Letter (LL)reverses of the 1842 $5. The SL reverse puncheons are squared, about as wide as they are tall. On the LL reverse, the letters are tall and about twice the size of the SL. The letters are crowded, almost touching at their bases. The tops of the letters are CLOSE to the rim.