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Lot
7466

1834 $2 1/2 CAP BUST

1997 ANA Signature Sale #175

 
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Auction Ended On: Aug 1, 1997
Item Activity: 1 Internet/mail/phone bidders
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Location: New York, NY
Description:
Very Scarce Capped Bust 1834 Quarter Eagle
1834 Capped Bust AU 55 NGC. Beginning with our National Money Show in Cleveland, continuing with the June Long Beach Sale, and now in the Summer ANA we have had at least one 1834 Capped Bust quarter eagle in each of these sales--all consigned by the Diocese of Buffalo. The anonymous collector who donated this immense collection certainly had an appetite for rarity, because in addition to four 1834 quarter eagles, he also accumulated three 1795 Nine Leaves tens.
Only 4,000 pieces were originally produced, and of course, the vast majority were melted shortly thereafter as the intrinsic value of U.S. gold coins at this time was greater than their face value. Breen compiled a roster of only 15 examples of this date, and it is uncertain whether the pieces consigned from the Diocese were known to him. The surfaces overall are very bright and the fields glimmer with a hint of reflectiveness. The peripheral stars are very sharply defined, but as usual, the hair curls on Liberty and the junction of the shield and eagle's left (facing) wing are softly impressed. Each side shows numerous small abrasions but the only ones worthy of note are a couple just above the leftmost pair of olive leaves. A choice example of this classic American gold rarity. (NGC ID# 25FR, PCGS# 7674)

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