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Splendid 1807 Quarter Eagle, MS63

1807 $2 1/2 MS63 PCGS. Breen-6124, BD-1, R.3. The Mint production of 6,812 quarter eagles in 1807 represents half of the total quarter eagle coinage for all earlier years from 1796 to 1806. Type collectors often choose this date due to a perception that it is common. An estimated survival of 250 to 350 coins reveals its rarity. The 1807 is only common in relation to other early dates of the denomination. Actual mintage figures for coins bearing any date is established by educated guess, since dies were used until they wore out or broke apart. Many quarter eagles coined in 1807 may have been dated 1805 or 1806, and not impossibly even 1804.
Quarter eagles are unique among early federal gold as several varieties shared reverse dies used for dimes. Diameters of the two denominations were nearly identical and the reverse dies did not carry a denomination. The reverse die of this coin was used for several issues, including four quarter eagle varieties from 1805 to 1807, and the 1807 dime. The die was nearly worn out when it was retired at the end of the 1807 dime coinage.
The first half eagles and eagles emerged from the coining department of the Mint during the summer of 1795; quarter eagles followed in September 1796. Mintage figures for this denomination remained small due to its unpopularity. The larger denominations were preferred by individuals and institutions making gold deposits. All coins produced from gold and silver received by the Mint were paid out to depositors in the order received. Quarter eagles were merely a means to balance the accounts as most depositors requested larger gold pieces.
Pleasing surfaces display light green-gold color with satiny obverse luster and frosty reverse luster. The usual grade-limiting imperfections are visible on both sides, but with little actual significance. Both sides are sharp from perfect dies with slight weakness at the centers. Faint adjustment marks are only seen on clouds 5 through 7. Population: 5 in 63, 3 finer (7/07).(Registry values: P5) (NGC ID# BFVY, PCGS# 7656)

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Auction Dates
August, 2007
Internet/Mail/Phone Bidders: 2
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