1838-C $2 1/2 MS62 PCGS....

Description

Mid-Condition Census 1838-C Quarter Eagle, MS62
Obverse Mintmark Subtype, Rare in Mint State

1838-C $2 1/2 MS62 PCGS. Ex: Dingler. Variety 1-A. Less than half as many quarter eagles were struck in Charlotte in 1838 as in 1839, a fact that only adds to the already considerable allure of this issue. The first year of issue of the Classic Head design at any branch Mint, and one of only two years for the Obverse Mintmark subtype--which also comprises, of course, the Dahlonega and New Orleans issues--the 1838-C quarter eagle is in continuous demand from numerous segments of the numismatic market. Branch mint gold specialists, type coin collectors, and collectors of high-grade, conditionally rare gold pieces should all have an interest in the present piece.
The tiny mintage was only 7,880 pieces, but fortunately a few nice examples appear to have been saved, as is common for first-year issues. PCGS has certified two examples including this piece in MS62, with two pieces finer, one each in MS63 and MS64. NGC has certified three examples each in MS62 and MS63. Barring duplications, it appears that Winter's 1998 estimate of only seven or eight Mint State coins in existence is today not far off the mark.
In MS62 this piece is solidly in the mid-Condition Census for the issue. Winter provides an estimate of 80-90 pieces surviving in all grades, and specifically concerning this piece comments that it is "very choice for the grade." The mintmark is widely recut, and several stars show repunching. Both sides have bold central details with slight peripheral weakness. Both sides are fully lustrous with brilliant green-gold surfaces with splashes of darker patina. The surfaces have trivial abrasions and hairlines that prevent a higher grade.
Ex: Doug Winter and Lee Minshull (12/1996); Paul Dingler Collection. This piece is not from the Bareford Collection, a possibility suggested by Winter.
From The Grand Lake Collection.(Registry values: P3)

Coin Index Numbers: (PCGS# 7697, GSID# 8257)

Metal: 89.92% Gold, 10.08% Copper
Weight: 4.18 grams
AGW: 0.12084oz
Mintage: 7,880

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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