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Lot
6085

1808 $2 1/2 VF35 PCGS. Bass-3017, Breen-6125, R.4. The ...

2004 March Portland, OR Signature Sale #344

 
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Auction Ended On: Mar 26, 2004
Item Activity: 9 Internet/mail/phone bidders
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Location: Portland, OR
Description:
Choice Very Fine 1808 Quarter Eagle, A Key to a Complete Gold Type Set
1808 $2 1/2 VF35 PCGS. Bass-3017, Breen-6125, R.4. The only dies. John Reich's Capped Bust motif appeared in various forms on the half dime (1829-1837), dime (1809-1837), quarter (1815-1838), half dollar (1807-1836), quarter eagle (1808), and half eagle (1807-1812). One can see from this list that the 1808 quarter eagle is an important one-year type coin. This issue also has a limited original mintage of 2,710 pieces, and only 5% of this delivery, or 135 coins, are believed extant in all grades. With a surviving population such as this, the 1808 quarter eagle is in the same rarity category as the equally legendary 1794 Flowing Hair silver dollar. The reason for this one-year quarter eagle delivery is most likely due to the favored status of the half eagle among gold depositors. Production of the quarter eagle was suspended from 1809-1820 due to lack of demand.
The present example appears to possess the sharpness of a higher grade. However, the right side stars and the horizontal shield lines are typically struck. A few moderate abrasions are noted on the eagle, and the right obverse field has faint slide marks. The surfaces are minutely granular. These imperfections are adequately compensated for in the grade, and allow this piece to reside in a quality early gold type set without a second mortgage of the family home. (#7660) (NGC ID# 25FD, PCGS# 7660)

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