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1796 $2 1/2 No Stars -- Repaired -- NGC Details. AU. Breen-6113, BD-2, R.4....

2012 January 4-8 US Coins & Platinum Night FUN Signature Auction- Orlando #1166

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Auction Ended On: Jan 5, 2012
Item Activity: 9 Internet/mail/phone bidders
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Location: Orange County Convention Center
North/South Building
9899 Universal Blvd.
Hall SB - South Building
Orlando, FL 32819

1796 No Stars Quarter Eagle, AU Details
First Year of Denomination
One-Year Design Type

1796 $2 1/2 No Stars -- Repaired -- NGC Details. AU. Breen-6113, BD-2, R.4. The quarter eagle denomination was struck for the first time in 1796, with the production split between two major design types. It is thought that 897 specimens of the No Stars type were struck first, followed by 432 examples of the With Stars motif. Two die varieties are known for the popular No Stars type, identified by the length of the arrows in the eagle's claw. This coin represents the more available BD-2 variety, with shorter arrows that extend only to the end of N in UNITED. Although the No Stars variety is not quite as rare as the other type, it has always enjoyed special popularity as a one-year type issue.
The 1796 quarter eagle has been popular with collectors since the earliest days of the hobby. An example of both types was featured in the John F. McCoy Collection (W. Elliot Woodward, 5/1864), with the No Stars variety in lot 1961, "1796 Without stars, uncirculated, a fine impression, extremely rare." The coin realized a respectable $15 to Heman Ely. In recent times, the 1796 No Stars has set one price record after another, with the Gem example in lot 3058 of the FUN Signature Auction (Heritage, 1/2008) realizing $1,725,000.
The present coin is an attractive piece in many ways, but the central obverse shows some heavy scratches and a depression in the surface that indicates some extensive repair, possibly a patched hole. Unfortunately, many survivors of this issue were used in jewelry, and this type of repair is often encountered. The peripheral design elements are well-struck, and the surfaces are lightly abraded, apart from the noted scratches. The satiny mint luster borders on prooflike in some areas. Altogether, this coin is an attractive representative of one of the most important issues in the U.S. gold coinage series.(Registry values: P10) (NGC ID# 25F2, PCGS# 7645)

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