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Lot: 1086
Auction: 1128  
1844 25C PR66 NGC. CAC....
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Ended: Jul 30, 2009
 
Buyer's Premium: 15% of the successful bid (minimum $14.00 per lot)
Description
Spectacular PR66 1844 Quarter, Finest Known
The Only Certified Example


1844 25C PR66 NGC. CAC. Ex: Pittman-Kaufman. The rarity of the 1844 proof quarter is attested to by the solitary example certified by either NGC or PCGS, this NGC-graded PR66 coin pedigreed to the John Jay Pittman and Phil Kaufman collections.
Additionally, Larry Briggs, in his The Comprehensive Encyclopedia of United States Liberty Seated Quarters, says of the 1844 quarter that there are "approximately five proofs," and Walter Breen, in the Complete Encyclopedia of United States and Colonial Coins, also contends that there are "Five proofs traced." He elaborates on them in the 1989 Encyclopedia of United States and Colonial Proof Coins, 1722-1989: (1) "Smithsonian Institution, from Mint." (2) "Ex Dr. Judd cased set." (3) "J.H. South: 507." (4) "LM 6/71:717." (5) One other impaired piece seen years ago, but I have long since lost track of it."
We believe that the estimates by Breen and Briggs are clearly too high. David Akers presents a more complete discussion of the 1844 proof quarter in his October 1997 catalog of the Pittman collection:

"This is the rarest silver denomination of the year in proof with possibly only three examples known; other than the one reportedly in the Smithsonian Institution and the example in the Matthew Stickney original Proof set (Lot 1788 in the 1907 auction of his collection), I have not seen or heard of another. Breen's two other proofs mentioned in his Proof Encyclopedia are J.H. South: 507 and Lester Merkin 6/71:717, the latter cataloged by Breen himself, but not really a Proof. If the South coin was a legitimate coin, then there are four known. Still, this is one of the greatest rarities among all Liberty Seated Proof coins, comparable to the 1841 Dime and the 1840 and 1841 Quarters."

Aside from the appearances mentioned above, our search of auction records has turned up no further examples. We emphasize that in the decades prior to the 1986 advent of third-party grading services, many coins that would today be described as prooflike were listed in catalogs as proofs. Our roster supports the comments made by Akers:

1. Proof
66 NGC. The present coin. Numismatic Gallery (4/1948); John Jay Pittman Collection (David Akers, 10/1997), lot 833; Philip Kaufman Collection of Early Seated Proof Sets, Part Two (Heritage FUN Sale, 1/2008), lot 3025, where it realized $322,000.
2. Proof. Smithsonian Institution.

Additional Appearances
A. Proof.
Lester Merkin (6/1971), lot 717.
B. Proof. J.H South (Stack's, 2/1951), lot 507.

The current Premium Gem offering displays beautiful natural toning with various iridescent colors, including reddish-gold, cobalt-blue, and gold-beige, the palette being slightly deeper on the obverse. A penetrating strike delivers uniformly sharp definition to every design feature; even the sandal and straps on Liberty's foot exhibit complete separation. The date is level and centered and shows repunching on the upper part of the lower loop of the 8, and on the lower crossbars of the two 4s. There are a number of tiny spikes from the denticles into the field by the 11th, 12th, and 13th stars, along with some faint die polish lines intermixed with a few unobtrusive hairlines in the reverse fields.
The overall technical quality and aesthetic appeal of this spectacular coin validate the CAC green label designation. As previously mentioned, it is not only extremely rare, it is the only one certified and is probably the finest known. Since the Smithsonian example will never reach the numismatic marketplace, the present coin may be the only example of the proof 1844 quarter ever available to collectors. Once it has sold, it may be decades before it, or another specimen, appears again at auction.
From The Bay State Collection, Part Two.(Registry values: P5) (#5538) View Entire Collection.

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Auction Name: 2009 August Los Angeles, CA US Coin Auction #1128
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-2879)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 4 Internet/mail bidders, 1,396 page views



Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 1121, Lot 3764 Sunday, January 11, 2009 66 NGC $299,000.00
Auction 454, Lot 3025 Saturday, January 12, 2008 66 NGC $322,000.00
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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. Example: A item that sells with a final hammer price of $100 and a 15% buyer's premium will display with a price realized of $115. 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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