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Lot
7451

1833 $2 1/2 MS64 NGC. Breen-6136, BD-1, R.5....

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

 
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Auction Ended On: Aug 12, 2011
Item Activity: 8 Internet/mail/phone bidders
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Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:

1833 Quarter Eagle, BD-1, MS64
Extensively Melted Issue
Rare in the Better Mint State Grades
1833 $2 1/2 MS64 NGC. Breen-6136, BD-1, R.5. Bass-Dannreuther Obverse State a / Reverse State c. There is only one die pairing and one die state known for this rare low-mintage date. Both 3s in the date are lightly recut, and the second 3 has faint evidence of a broken punch that looks like a short die crack. The reverse shows broad repunching on the U in UNITED and the I in AMERICA. Only 4,160 pieces were struck, but most were promptly melted since their bullion value exceeded face value. Only 60 to 80 pieces are believed known today in all grades. It was not until the next year, 1834, that the weight of gold coins was reduced, which allowed the new pieces to enter circulation. PCGS has certified two 1833 quarter eagles in VF grades, but they were likely carried as souvenirs by a 19th century owner. Most survivors are in AU or lower Mint State grades. NGC and PCGS combined have certified only six examples above the MS64 level.
This piece has remarkably smooth, unmarked olive-gold surfaces with a pronounced red accent around the margins. Both sides are sharply struck on the central devices with some localized softness on the peripheries, specifically flatness on the stars. There is slight weakness on Liberty's hair curls and the left side of the shield and adjacent eagle's wing -- the usual places one finds softness on these pieces. The open fields are semiprooflike. While rarely encountered in any grade, such a high-grade example as this is seldom seen. This desirable, high-grade near-Gem is worthy of the finest-quality early gold date or type set. Census: 6 in 64, 2 finer (7/11).(Registry values: P5) (NGC ID# 25FP, PCGS# 7673)

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