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Lot
7685

1806/5 $2 1/2 7x6 Stars MS61 NGC. The 1806/5 qualifies ...

2003 September Long Beach Signature Sale #330

 
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Auction Ended On: Sep 19, 2003
Item Activity: 7 Internet/mail/phone bidders
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Description:
Exceedingly Rare 1806/5 Quarter Eagle MS61
1806/5 $2 1/2 7x6 Stars MS61 NGC. The 1806/5 qualifies for a short list of major Quarter Eagle rarities. In the Quarter Eagle series of Robert Scot's classic design, only the 1804 13-Star reverse has proven to be more elusive than the 1806/5. A scant 480 pieces were produced, and perhaps as few as two dozen coins survive. The last 1806/5 to sell in a Heritage auction was more than five years ago, that being an AU55 which realized just shy of $45,000 in our January 1998 FUN Sale.
The overdate feature was created when an 1805 obverse die was annealed (heated) and a 6 was punched over the 5 in the date. The surfaces on this elusive Mint State representative are a vibrant green-gold color and show a few wispy handling marks in the obverse fields. A peripheral die crack from star 7 to the I in LIBERTY seems to be diagnostic, and a several clusters of adjustment marks can be detected along the lower obverse border and over Liberty's cap and upper curls. On the reverse, there is a touch of verdigris within the D of UNITED and a handful of adjustment marks near the rim between 11 and 12 o'clock. Population: 1 in 61, 3 finer (7/03). (NGC ID# 25FB, PCGS# 7655)

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