1834 $2 1/2 Capped Bust PR62 PCGS. BD-1, JD-1, High R.7....

Description

1834 BD-1 Quarter Eagle, PR62
The Only Certified Proof

1834 $2 1/2 Capped Bust PR62 PCGS. BD-1, JD-1, High R.7. Ex: Harry W. Bass, Jr. Collection. Proof examples of the 1834 Capped Bust quarter eagle are much rarer than once thought, with a surviving population of just four or five coins, and those are mostly impaired. In his Complete Encyclopedia that was published in 1988, Walter Breen presented a roster of 15 proof examples. Today, John Dannreuther's reference on proof gold records just four examples.

The Act of June 28, 1834 changed production of gold coins, effective August 1 of that year, by slightly reducing the weight, bringing their intrinsic or bullion value back in line with the denomination. The design was changed to the now familiar Classic Head style which continued through 1839. This variety was the final issue of the "old tenor" gold coins with a mintage of 4,000 pieces. It is probably the case that most of the 4,000 coins minted were later melted, as Dannreuther estimates a total population of no more than two dozen coins, including proofs and circulation strikes. Our notes are consisted with that figure.

The present piece, certified PR62 PCGS, was described as "Brilliant Uncirculated, with full proof-like surface," in the October 1971 Stack's catalog of the Shapero Collection. This brilliant yellow-gold quarter eagle, while exhibiting slightly rubbed fields, has fully mirrored fields that frame lustrous devices. Its proof status is undoubted. This is the only certified proof 1834 Capped Bust quarter eagle at PCGS or NGC (11/22).

The earlier and later provenance of this piece is uncertain. This coin matches the plate in the Shapero catalog, and Harry W. Bass, Jr. recorded that auction as the source of his coin, so that provenance is certain. The Bass Museum Sylloge includes the statement: "Earlier from James Ten Eyck, Belden Roach, Louis E. Eliasberg, Sr., New Netherlands 49: 575, Grant Pierce, and R.L. Miles." In his proof gold reference, John Dannreuther adds a later provenance of Auction '85 (RARCOA, 7/1985), lot 367 and Auction '89 (David Akers, 7/1989), lot 1366. Neither of those additional provenance statements appear to be correct. This example does not match the Auction '85 coin that reappeared in Auction '89, while that coin matches the plates in the Grant Pierce and R.L. Miles catalogs. This piece also does not appear to match the plate of either B. Max Mehl sale (Ten Eyck and Roach), nor of the 49th New Netherlands auction.
Ex: Shapero Collection (Stack's, 10/1971), lot 750.
From The Harry W. Bass, Jr. Core Collection, Part II.(Registry values: P4)

Coin Index Numbers: (PCGS# 7689, Greysheet# 8239)

Weight: 4.37 grams

Metal: 91.67% Gold, 8.33% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View Certification Details from PCGS