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1846 25C PR65 NGC....

2008 April Rosemont, IL (CSNS) Signature Coin Auction #1104

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Auction Ended On: Apr 17, 2008
Item Activity: 6 Internet/mail/phone bidders
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Location: Rosemont, IL
Gorgeous 1846 Quarter, PR65
Tied for Finest Known
1846 25C PR65 NGC. Ex: P. Kaufman. The 1846 proof quarter is clearly rarer than the 18-piece certified population would lead us to believe. NGC and PCGS have each seen nine examples, all in the PR63 to PR65 range, including 12 near-Gems. Many of these coins are likely resubmissions. As early as 1991, there were eight or nine PR64 examples listed in the PCGS Population Report, telling us that one or two coins were probably submitted several times in an effort to gain an extra point.
Numismatic researchers generally believe the extant population is somewhere between 10 and 15 specimens. Our roster leans toward the low end of those estimates:

1. PR65 NGC. The Kaufman coin. We were unable to obtain a definitive match with any of the specimens listed below.
2. PR65 NGC. John Jay Pittman (David Akers, 5/1998), lot 1712; Rarities Sale (Bowers and Merena, 8/1999), lot 140; Central States (Heritage, 5/2000), lot 7304. A spot between the arm and pole, another at the upper left reverse shield corner, a field mark above Liberty's foot, and a light field scratch paralleling the leg identify this coin.
3. PR64 PCGS. Rarities Sale (Bowers and Merena, 1/2002), lot 407; JFS Collection (Heritage, 8/2004), lot 4042.
4. PR64 PCGS. Auction '83 (Paramount), lot 106; Jascha Heifetz Collection (Superior, 10/1989), lot 3614.
5. Very Choice Brilliant Proof. Stack's (9/1997), lot 733.
6. Proof. Smithsonian Institution.

Additional Appearances
A. PR65 NGC. Superior (10/2000), lot 4359; Ira and Larry Goldberg (6/2002), lot 2205.
B. PR64. The Louis E. Eliasberg, Sr. Collection (Bowers and Merena, 4/1997), lot 1439.
C. PR64 or finer. The Norweb Collection, Part II (Bowers and Merena, 3/1988), lot 1581.
D. Brilliant Proof. Floyd T. Starr Collection (Stack's 10/1992), lot 404. Catalogers say "hairline scratch across obverse."

Unlike some of the other 1846 proof quarters that reveal localized softness, especially in the star centers, the strike on the present offering imparts crispness to all of the design elements. Not only are the star centrils complete, but the straps on Liberty's foot stand out, as does the foot-sandal separation. The borders are squared off, and reflective fields yield pleasing contrast with the motifs. Beautiful toning enriches both sides, and consists of a mélange of dappled forest-green, beige-gold, lavender, and orange. Close inspection of the immaculately preserved surfaces reveals little in the way of pedigree markers-no contacts, planchet defects, or spots. All in all, a simply gorgeous Gem proof that is sure to elicit spirited bidding.
From The Phil Kaufman Collection of Early Seated Proof Sets, Part Three.(Registry values: P4) (NGC ID# 23W9, PCGS# 5540)

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