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Lot
5587

1842 25C Small Date PR65 PCGS....

2013 August 8 - 10 US Coins Signature Auction - Rosemont #1188

 
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Auction Ended On: Aug 9, 2013
Item Activity: 11 Internet/mail/phone bidders
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Location: Hyatt Rosemont
6350 N. River Road
Rosemont, IL
60018
Description:

1842 Small Date Quarter, PR65
The Eliasberg Specimen
1842 25C Small Date PR65 PCGS. The 1842 Small Date quarter is one of the greatest of all silver rarities in American numismatics. It has a distinct date logotype, far smaller than the large digits used for business strikes, and is only available in proof format. It is generally thought that only six pieces survive today (certainly no more than seven) out of a possible estimated mintage of no more than 10 to 15 pieces. This conjectured mintage is derived from the number of coins believed to have been presented to foreign dignitaries and made to order for individual collectors of the day. While we concur with this estimate, at the same time we acknowledge that to date no actual documentation has been found in the Mint archives to support this estimate. Two of the six known coins known are permanently impounded in institutions (the ANS and Smithsonian), leaving only four coins available for collectors.

Apparently the Small Date logotype was used early in the year and quickly abandoned as being too small, thus also explaining the rarity of the 1842-O quarter and half dollar (which also used a Small Date punch). While it is possible that this date variant may have been known to collectors in earlier years, no examples were sold at public auction prior to the 1893 Fixed Price List #39 by Charles Steigerwalt.

This impressively pedigreed example is undoubtedly one of the finest examples known and has been in very few collections over the past 94 years. The fields are glassy and deeply mirrored. Each side has a significant overlay of speckled russet, golden, and magenta toning. A few small contact marks appear on each side, but the most important pedigree identifiers are the configuration of the toning and a tiny planchet flake in the obverse field just above the left (facing) shoulder of Liberty. This is an opportunity for the serious collector to acquire a coin rarely offered at public auction or by private treaty. Most collectors have never seen this rare type, and we strongly encourage anyone who is an advanced collector or dealer to at least view this lot so they may say they have actually laid eyes on this important rarity.
Ex: Harlan P. Smith Collection (Chapman Brothers, 1906), a tentative pedigree adapted by Q. David Bowers from Walter Breen; Jerome Kern Collection (B. Max Mehl, 1950); Louis E. Eliasberg Collection (Bowers and Merena, 4/1997), lot 1428, where it brought $66,000.
From The Greensboro Collection, Part IV.(Registry values: P6) (NGC ID# 23W5, PCGS# 5536)

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