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Lot
1515

1859-D $2 1/2 MS62 NGC. Variety 21-M. The only variety of the year. This is the final use of the "M" reverse, which was fir...

2006 April Atlanta, GA (ANA) Signature Auction #402

 
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Auction Ended On: Apr 7, 2006
Item Activity: 6 Internet/mail/phone bidders
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Description:
The Duke's Creek-Fairfield Example of the 1859-D Quarter Eagle, MS62 NGC
1859-D $2 1/2 MS62 NGC. Variety 21-M. The only variety of the year. This is the final use of the "M" reverse, which was first employed in 1847.
An average strike for the issue, with some weakness seen on the curls along the face of Liberty as well as on the legs and right claw of the eagle. There are few marks visible on the surfaces, although a small, well-hidden, mint-made lamination can be seen at 11 o'clock on the obverse. The fields are somewhat prooflike, an unusual feature on a date that is not known for good luster. Both sides are richly toned in medium to deep orange-gold hues. This is a lovely example of this popular issue, and it is possibly the finest known.
The 1859-D is the final quarter eagle produced at the Dahlonega Mint. There were 2,244 pieces struck, with an estimated 120-140 coins known today. This date does not appear to have circulated as extensively as the issues from the 1840s, and it is almost never seen below XF. It is scarce in the higher AU grades and very rare in Uncirculated, with around six to eight known that qualify by today's standards. Only three coins have been graded MS62 by one of the major services, and this includes the Green Pond: 1036 coin, which realized a healthy $34,500 when it was sold by Heritage in January 2004.
Ex: Lamborn ("Fairfield") Collection (Bowers and Ruddy, 10/77), lot 1564; Leon Farmer Collection; Hancock and Harwell.
From The Duke's Creek Collection of Dahlonega Gold.(Registry values: P2) (NGC ID# 25JM, PCGS# 7789)

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