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Lot
7542

1827 $2 1/2 MS61 NGC....

2005 February Long Beach Signature Sale #366

 
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Auction Ended On: Feb 24, 2005
Item Activity: 14 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
The Garrett 1827 Quarter Eagle in Mint State
1827 $2 1/2 MS61 NGC. Ex: Garrett Collection. Bass-3025, Breen-6131, R.5. Like the half eagles from this period, the quarter eagles were also widely melted as the gold value exceeded the face value in these coins. Wholesale meltings occurred, and virtually the entire mintage was wiped out. A handful survive of most dates, but there coins are truly rare and seldom offered. The original mintage of 2,800 pieces is likely represented by not more than 50 or so survivors today. The design was by Robert Scot, who was copying the head device from the half eagles. 1827 is the final year of issue for this type, with the design again modified by William Kneass in 1829, utilizing new mint equipment and the closed collar process.
According to the NGC Census, six coins have been certified as MS61 with 11 finer examples. No doubt there is some resubmission of specimens included in these totals, as only a few Mint State examples of this date are actually known. This is a fully lustrous specimen with greenish-gold color and excellent eye appeal. The central devices on each side are somewhat weakly defined, as usual. A small surface dig at the base of the neck line will serve to easily identify the pedigree of this quarter eagle. Obtaining a Mint State example such as this will certainly be a highlight in even the most advanced collection, particularly so with such an illustrious pedigree.
Ex: W. Elliot Woodard's 58th Sale; Garrett Collection (Bowers and Ruddy, 3/80), lot 747; purchased from Abner Kreisberg Corporation on September 17, 1980 along with the 1829 quarter eagle for $30,000 for the pair. The plate coin in Akers' book on quarter eagles.
From The Beverly Hills Collection.(#7666) (Registry values: P5) (NGC ID# 25FJ, PCGS# 7666)

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