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Lot
6323

1834 $2 1/2 CAP BUST

1997 Mid-Winter ANA Signature Sale #169

 
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Auction Ended On: Mar 21, 1997
Item Activity: 1 Internet/mail/phone bidders
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Description:
1834 Capped Bust Quarter Eagle, An Illustrious Gold Rarity
1834 Capped Bust MS 61 NGC. A prized rarity and one of the most illustrious issues in the entire series of United States gold coins. Although listed in mint records with a mintage of 4,000 pieces in this transitional year to the reduced-weight Classic Head design, virtually the entire figure, and officially all of those struck, never left the confines of the Philadelphia Mint. These were melted several months later when their intrinsic value lawfully exceeded, by over five percent, the face value of $2.50. Decades later, Mint Director Snowden found no records of this coin's release. Breen compiled a roster of 15 examples, one impounded in the original mint cabinet tracing back to Adam Eckfeldt, and several others being obvious duplications. The ownership list reads like a who's who in U.S. numismatics. This example, its pedigree a mystery to us but in all likelihood among the coins listed by Breen, displays the proof surface seen on every known specimen and shows minor contact marks in the fields that are amplified by the reflectivity. Its importance to the serious collector of United States gold coinage cannot be overstated. (NGC ID# 25FR, PCGS# 7674)

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