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Lot
4759

1863 $2 1/2 PR63 Cameo NGC....

2011 October 13-16 US Coins Signature Auction- Pittsburgh #1160

 
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Auction Ended On: Oct 14, 2011
Item Activity: 8 Internet/mail/phone bidders
2,819 page views
Location: David L. Lawrence Convention Center
1000 Ft. Duquesne Blvd.
Pittsburgh, PA 15222

Description:
1863 Quarter Eagle, PR63 Cameo
Legendary, Proof-Only Date
1863 $2 1/2 PR63 Cameo NGC. The 1863 quarter eagle is a legendary rarity. Quarter eagles of that year were only struck in proof format (a reported mintage of 30 pieces). As indicated by Jeff Garrett and Ron Guth in their 2006 Encyclopedia of U.S. Gold Coins: "Very few United States coins have a total mintage of only 30 coins; therefore, the issue is very popular and trades for substantial sums when offered for sale." We might add, in this regard, that the 1863 shows up at auction only infrequently.
The above authors estimate that there are 15 to 20 1863 proof quarter eagles known in all grades. Walter Breen, in his 1989 Encyclopedia of United States and Colonial Proof Coins, enumerates between nine and 11 specimens that he considers to be different, and records the existence of possibly six more. And in his 1986 Reference to United States Federal Gold Coinage, Volume II, The Quarter Eagles, Paul Taglione writes: "The research of the present author traces 12 separate examples and it would not surprise me if 13 or 14 specimens constituted the actual population of the 1863."
This Select offering displays rich orange-gold coloration over the obverse, while yellow-gold dominates the reverse. Reflective fields highlight the moderately frosted design features, all of which have been subjected to an exacting strike. Impeccably preserved surfaces enhance the coin's overall impressive eye appeal. Indeed, it is only the presence of a few wispy marks in the fields that likely precludes a higher numerical grade. We mention a couple of faint marks to the left of Liberty's nose and another beneath the A in STATES solely for pedigree purposes. Census: 3 in 63 Cameo, 1 finer (9/11).
Ex: probably The Ed Trompeter Collection, Part 1 (Superior Galleries, 2/1992), lot 43; Stack's (10/1997), lot 1011; The R.M. Phillips Limited Partnership Collection (Heritage, 7/2009), lot 1231.
From The Baltimore Collection, Part Two.(Registry values: P7) (NGC ID# 287H, PCGS# 87889)

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