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1818 25C MS66 PCGS....

Lot: 295, Auction: 2008 May Long Beach, CA Signature Auction #1108

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Ended: May 27, 2008
Item Activity: 9 Internet/mail bidders
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Description:

Colorful Premium Gem B-3 1818 Quarter

1818 25C MS66 PCGS. B-3, R.2. Breen Die State II, the usual state with a clashed reverse die and diminished left feet on the 1s in the date. The radial crack through the lowest head is relatively heavy.
This is a magnificent Premium Gem with gorgeous cherry-red, lime-green and canary-gold toning. The luster is comprehensive, and the surfaces are undisturbed aside from a few wispy grazes. All stars are razor-sharp, and the only detectable incompleteness of design is relegated to the area near the upper left shield border. Encapsulated in a first generation holder.
According to Walter Breen in his 1992 revision of the 1925 A.W. Browning reference, B-3 began its life as an 1818/15 overdate, "visible on the thick raised parts of [the] final 8." That initial die state is extremely rare, and Breen knew of only two examples in 1992. The left feet of the 1s in the date, which apparently were in lower relief than the remainder of the date, are intact on the initial die state. The die was lapped, probably to remove clashmarks, which also removed the traces of the underdate and most of the left feet of the 1s. The reverse die was apparently unmodified, despite its obvious clashmarks on the field between the eagle and the scroll.
Needless to say, Jules Reiver, whose extensive collection included die states in addition to die marriages, never managed to secure an example of that important initial state. Should one ever appear at auction, it would likely sell for a price similar to that of a unique die variety.
Among PCGS-certified 1818 quarters, the only one graded higher than the present lot is the Eliasberg Browning-2 example, which last appeared at auction in August 1999. One of the pieces graded MS66 by PCGS is a Browning-4 from our December 2005 Dallas auction. Although the variety of the third MS66 PCGS example is unknown, it is highly probable that the present piece is the finest 1818 Browning-3 in a PCGS holder. Population: 3 in 66, 1 finer (4/08).
From The Silbermünzen Collection.(Registry values: P2) (#5322)

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Previous Prices from Heritage Auctions

Lot Date Grade Service Realized
Auction 1126, Lot 1003 Tuesday, March 31, 2009 66 PCGS $34,500.00
Auction 398, Lot 581 Wednesday, December 14, 2005 66 PCGS $23,000.00
Auction 1136, Lot 2505 Sunday, January 10, 2010 66 NGC $19,550.00
Auction 1125, Lot 606 Sunday, May 31, 2009 66 NGC $19,550.00
Auction 1121, Lot 3721 Sunday, January 11, 2009 66 NGC $21,850.00
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PLEASE NOTE: All prices realized reflect the final hammer price PLUS the buyer's premium in auctions that charge a buyer's premium. Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium. All information listed is intended to be as accurate as possible, but errors are possible. Please use this guide carefully and inform us of any inaccuracies.

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