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Lot
7445

1826/5 $2 1/2 AU58 NGC. Breen-6130, BD-1, High R.5. ...

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

 
Sold for: Not Sold
Auction Ended On: Aug 12, 2011
Item Activity: 6 Internet/mail/phone bidders
642 page views
Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:

1826/5 Quarter Eagle, BD-1, AU58
Rarest Date in the Capped Bust Left Series
1826/5 $2 1/2 AU58 NGC. Breen-6130, BD-1, High R.5. Although this issue has long been called an overdate with the final digit punched over a 5, it is now generally believed that the 6 was recut, which means that it should be classified as 6 over 6. As John Dannreuther (2006) notes, "The two obverse dies used in 1825 have small stars. If this coin were a real 1826/5 overdate, the stars likely would be small, not large." In recent years the Guide Book changed its entry for the coin to 1826, 6 over 6.
The quarter eagle was clearly not the most popular denomination among gold bullion depositors at the early Philadelphia Mint. No issue delivered prior to 1834 was produced in numbers greater than 6,812 pieces. In the case of the 1826, the total amounted to just 760 pieces, the lowest mintage of any Capped Bust facing left quarter eagle.
The 1826 is probably the rarest 1821-1827 Capped Head Left quarter eagle. Uncirculated survivors of the 1826 are virtually unobtainable, and near-Mint specimens are only slightly less rare. Dannreuther estimates that there are only 30-35 examples in all grades. NGC and PCGS combined have certified eight pieces in 58, along with one 58 Prooflike specimen. A mere three coins (all at PCGS) have been graded finer (7/11).
The present coin retains ample evidence of a prooflike finish. Green-gold color covers both sides, with surfaces peppered by small and moderate abrasions from a short stint in circulation. The detail is bold overall, and this piece is sure to see significant competition among early gold specialists.
Ex: Central States Signature (Heritage, 5/2003), lot 7186.
From The Oliver Collection.(Registry values: P7) (NGC ID# 25FH, PCGS# 7665)

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