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1840 25C Drapery PR65 NGC. Briggs 1-A, R.8 as a Proof. ...
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Sold on Aug 26, 2025 for:
$57,600.00
Bid Source: HA.com/Live bidder
Description
1840 Seated Quarter, PR65
Finest of Only Three Examples Known
First Year With Drapery, Ex: Pittman-Gardner
1840 25C Drapery PR65 NGC. Briggs 1-A, R.8 as a Proof. Ex:
Pittman. This is a rare appearance of the finest-certified example
from a surviving population of just three known 1840 proof
examples. These rare early proof quarters feature a transitional
obverse die with the extra folds of drapery added at the elbow. On
the reverse, a faint die crack exists from the base of the second T
in STATES, through the eagle's head, shield, right (facing) wing,
middle arrowhead, to the lower right border identifies the reverse
die. When David Akers described the present coin in the Pittman
catalog he noted:"The 1840 With Drapery Quarter is a major rarity in Proof, in fact, one of the rarest Proof coins of the Liberty Seated type. At present, only three specimens can be accounted for with this example and the recently sold Eliasberg coin the only two in private hands. Proof 1840 Quarters were struck only for inclusion in the ten or fewer Proof sets of the year. In addition to these ten complete copper-silver Proof sets, additional quantities were made of the Half Cent, Large Cent and Silver Dollar denominations, but it does not appear that any additional Proof Quarters were struck since there was really no reason or demand to do so. Almost without exception, the Proof Quarters of this decade are the rarest denomination of each year followed by the Half Dollars, and then the Dimes."
Currently, NGC reports certifying two coins -- one in PR64 and this example in PR65. PCGS has certified a single example in PR64+. Because Ron Guth confirms the coin in the Smithsonian Institution is a raw uncertified proof, it is almost certain that one of the PR64 certification events is a resubmission or crossover.
Prominent 19th-century collector Richard B. Winsor of Providence, Rhode Island, owned a remarkable run of early silver-and-minor proof sets,including sets from 1840, 1842, 1843, 1847, 1848, 1852, and 1856-1890 inclusive. After his death, his collection was offered by the Chapman brothers on December 16 and 17, 1895. Lot 1065 in the catalog of the sale was his 1840 proof set, which realized a strong price of $170. Also offered in this sale was a single 1840 With Drapery proof quarter in lot 613, which realized $16.50. It seems likely that these citations represent the first auction appearances of the two coins we know about in private hands today.
As one might expect, both the former Eliasberg-Kaufman coin (graded PR64+ with CAC) and the current Ex: Pittman-Gardner coin (graded PR65 NGC) exhibit needle-sharp definition throughout the motifs. The edges are squared off, with broad flat rims. On the present example, the fields are deeply mirrored, under vivid shades of russet-gold, violet, and cerulean-blue toning. A few tiny lint marks are visible in the right obverse field, and a small triangular planchet flake (as struck) is visible on the rim at 9 o'clock. There are no mentionable post-strike distractions and the eye appeal is remarkably strong for this early proof example. Our roster below lists the only proof 1840 With Drapery Seated Liberty quarters we can confirm. As the finest-certified example of this extremely rare early proof issue, with a fascinating pedigree and tremendous visual presence, this coin will be a welcome addition to the finest collection or Registry Set. The wise bidder will keep in mind the only other 1840 proof has been off the market since 2013 and remains in strong hands, adding importance to the current Gem proof offering, unsurpassed in quality or grade.
1840 With Drapery Seated Quarter Roster
1. PR65 NGC. Dr. Christian Allenburger Collection (B. Max Mehl, 3/1948), lot 984; John Jay Pittman Collection, Part II (David Akers, 5/1998), lot 1300; Orlando Sale (Superior, 1/2004), lot 284; Legend Numismatics; purchased by Gene Gardner on 1/12/2004; The Eugene H. Gardner Collection, Part III / New York Signature (Heritage, 5/2015), lot 98373. The present coin.
2. PR64+ PCGS. Louis E. Eliasberg, Sr. (Bowers and Merena, 4/1997), lot 1422; Phil Kaufman Collection / Milwaukee ANA Signature (Heritage, 8/2007), lot 1781; Greensboro Collection (Heritage, 8/2013), lot 5586.
3. Proof. National Numismatic Collection; Smithsonian Institution.
Additional Appearances
A. Proof. Richard B. Winsor Collection (S.H. & H. Chapman, 12/1895), lot 613. Possibly the coin in number 1 or 2 above.
B. Proof. Richard B. Winsor Collection (S.H. & H. Chapman, 12/1895), lot 1065, part of a seven-piece silver-and-minor proof set. Possibly the coin in number 1 or 2 above.
From The High Oak Family Collection.
Coin Index Numbers: (NGC ID# 23W3, PCGS# 5529, Greysheet# 5230)
Weight: 6.68 grams
Metal: 90% Silver, 10% Copper
View all of [The High Oak Family Collection ]
Auction Info
2025 August 26 - 31 ANA US Coins Signature® Auction #1385 (go to Auction Home page)
Auction Dates
August, 2025
26th-31st
Tuesday-Sunday
Bids + Registered Phone Bidders: 16
Lot Tracking Activity: N/A
Page Views: 415
Buyer's Premium per Lot:
20% of the successful bid per lot.
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