1834 $2 1/2 CAP BUST
Important 1834 Capped Bust Quarter Eagle, AU 501834 Capped Bust AU 50 PCGS. One would not normally think that owning three examples of an issue would constitute a "hoard." Yet, when those three pieces constitute 20% of the examples believed to exist today, "hoard" would not be too strong a word. The anonymous collector who consigned his rare gold holdings to the Diocese of Buffalo owned three examples of this rare date (the two in this sale and the MS 61 in the Cleveland Money Auction).
There remains some debate among specialists today whether all 1834 quarter eagles of this design were originally struck as proofs as all known examples exhibit reflective fields. It is our belief that both proofs and business strikes were issued, this piece falling into the latter category. The fields are still brightly reflective even though subdued somewhat by light handling and the presence of deep reddish patina around the margins. The striking details are not quite as crisp as one would like to see on a proof copy with some softness on the hair curls of Liberty as well as the left side of the eagle's feathers. Each side displays numerous field marks, but the only one worthy of mention is a shallow scratch in the left reverse field from the eagle's wing to the left base of the T in UNITED. (NGC ID# 25FR, PCGS# 7674)
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