1807 $2 1/2 MS63 NGC....

Description

1807 Quarter Eagle, BD-1, MS63
A Wonderful Type Coin

1807 $2 1/2 MS63 NGC. Breen-6124, BD-1, R.3. For much of the early history of the U.S. Mint, the quarter eagle denomination was the red-headed stepchild among coin types. Large cents, half dollars, and larger gold coins did the yeoman work of commerce. The eagle denomination was discontinued in 1804, at which time the half eagle took over its duties as the largest and most popular gold coin. Quarter eagles were sporadically minted, in some years not at all, and in quantities much lower than half eagles overall.
For the 1807 coins, only a single die pair was used. The reverse die, however, is a carryover from the BD-1 of 1805. The obverse stars are arranged seven left and six right, with a noticeable gap between stars 6 and 7. The flag of the 1 is over a hair curl, and the 7 in the date is larger than the other digits.
The 1807 quarter eagle makes a wonderful representative of the Capped Bust to Right, With Stars quarter eagle. It was replaced the following year by the vaunted 1808 Capped Bust to Left, Large Size quarter eagle, a one-year type. Paul M. Green, in the April 4, 2000, edition of Numismatic News, says of the issue:

"Prior to 1804 the combined production for all years of gold quarter eagles stood at a less than whopping total of about 5,000 pieces. In 1804 another 3,327 were produced, a little less than 300 more than the 1802/1 production, but a record nonetheless if only by a few hundred.
"In the years that followed production levels slipped to under 2,000 pieces, but in 1807 apparently giddy customers had a staggering total of 6,812 gold quarter eagles produced. No one really knows why, but for the type collector it was a bonanza."

Bass-Dannreuther estimate that 250-350 examples exist today in all grades. This attractive Select Mint State example boasts even yellow-gold color over bright fields, with a sharp strike. The coin has a nice, balanced appearance from side to side, and there are no obvious contact or adjustment marks. Census: 5 in 63, 0 finer (8/09).(Registry values: P5)

Coin Index Numbers: (PCGS# 7656, GSID# 8216)

Metal: 91.67% Gold, 8.33% Copper
Weight: 4.37 grams
AGW: 0.14oz
Mintage: 6,812

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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