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Lot
572

1804 25C MS62 PCGS. B-1, R.4. A sharply struck example of this desirable rarity. The major devices display impressive defin...

2005 December Dallas Signature Auction #398

 
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Auction Ended On: Dec 13, 2005
Item Activity: 8 Internet/mail/phone bidders
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Location: Dallas, TX
Description:
Important Mint State 1804 Quarter Ex: Pittman
1804 25C MS62 PCGS. B-1, R.4. A sharply struck example of this desirable rarity. The major devices display impressive definition, and only the two highest reverse stars are faint, as made. Richly toned in tan-brown and steel-blue colors, the reverse is beautifully unabraded, and the obverse has only a couple of brief horizontal marks, one above the mouth, another beneath the jaw. Some light and unobtrusive obverse adjustment marks, as made, are generally localized to the dentils and shoulder.
The production of Quarters was minimal in the early years of the U.S. Mint, since depositors preferred more convenient Silver Dollars. The 1804 is a famous rarity, by far the rarest date within the five year Draped Bust, Heraldic Eagle type. Just 6,738 pieces were recorded as minted, slightly more than the 6,146 pieces struck for the even better known 1796. While the 1796 is certainly significant, it is actually more available than the 1804, particularly in Mint State. PCGS has certified 32 examples of the 1796 in Mint State, while that service has only encapsulated 6 1804 Quarters. Yet the 1804 is priced significantly beneath the 1796, which could well change in the future once the true rarity of the 1804 in Uncirculated grades is fully appreciated.
Ex: A.H. Baldwin & Son, 3/54, for the equivalent of $60; John Jay Pittman Collection, Part Two (Akers, 5/98), lot 1265, which realized $30,800; FUN Signature (Heritage, 1/99), lot 6584, which realized $28,750; New York ANA (Superior, 8/02), lot 847, which realized $43,700.(Registry values: P7) (NGC ID# 23RB, PCGS# 5312)

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