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1834 $2 1/2 Large Head, HM-2, R.3, MS66+ PCGS. CAC....
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Sold on Jan 5, 2023 for:
$132,000.00
Bid Source: Internet bidder
Description
1834 Two and a Half, MS66+
HM-2, Large Head, Lustrous and Sharp
Finest-Certified Example
1834 $2 1/2 Large Head, HM-2, R.3, MS66+ PCGS. CAC. Ex:
Harry W. Bass, Jr. Collection. The Classic Head type was designed
by Chief Engraver William Kneass to accompany a weight reduction
for gold coins, as dictated by Congress in the Act of June 28,
1834. Prior to the decree, gold coin had not circulated at par for
many years, resulting in extremely low mintages for all gold
denominations. The new Classic quarter eagles had a 4.4% gold
reduction (3 grains) per coin, enough to eliminate hoarding and
freeing up the Mint to increase gold coin production. Accordingly,
the 1834 Classic Head quarter eagle boasts a large 112,234-piece
mintage, accomplished by four die marriages. Three of those die
pairs are the Large Head design, nicknamed the "Booby Head" by John
H. Clapp, although James Ross Snowden attached the sobriquet to
1839 large cents in A Description of Ancient and Modern Coins,
in the Cabinet Collection at the Mint of the United States in
1860. Previously, Edward Cogan described an 1839 Booby Head
cent in a November 1858 catalog. The HM-2 variety is the first
Large Head appearance, and represents about 27% of the known 1834
Classic quarter eagle survivors.The obverse die struck all three 1834 Large Head varieties (HM-2, HM-3, and HM-4). Recutting at stars 2 and 3 characterize the obverse, with 4 in the date close to Liberty's curl. The reverse die is in its sole 1834 use on this HM-2 variety, although the reverse is later seen on 1835 and 1836 quarter eagles. The lowest arrowhead is tucked close to the left stand of the second A in AMERICA, with A and M widely spaced. An undersized numerator "1" in the fraction touches the diagonal. As part of the new Classic Head design, the motto E PLURIBUS UNUM in its scroll was eliminated. The eagle has no tongue on the HM-2 variety.
This coin is the finest 1834 Classic quarter eagle example in the Harry Bass, Jr. Core Collection, as well as the finest-certified 1834 Classic quarter eagle at either PCGS or NGC. We sold a splendid 1834 MS66★ NGC coin at our August 2011 Platinum Night event, although that excellent piece was the more-available HM-1 Small Head variant. This Large Head HM-2 coin stands apart, with high-end Premium Gem surfaces that display vibrant mint luster across semiprooflike fields augmented by sharply struck, frosty devices. Vivid green-gold color disperses evenly across both sides, complemented by faint honey-gold accents. Magnification reveals a few light marks and hair-thin lines, but they are so infrequent as to pose no distraction whatsoever to the sparkling surface quality that resonates throughout both sides. CAC endorsement offers additional quality confirmation. Long absent from the market, this splendid jewel is sure to challenge the record price for an 1834 quarter eagle, regardless of variety or assigned grade.
Purchased from Stanley Kesselman on April 28, 1967.
From The Harry W. Bass, Jr. Core Collection, Part II.
Coin Index Numbers: (NGC ID# 25FS, Variety PCGS# 764688, Base PCGS# 7692)
Weight: 4.18 grams
Metal: 89.92% Gold, 10.08% Copper
Auction Info
2023 January 5 The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature® Auction - Orlando FUN #1355 (go to Auction Home page)
Auction Dates
January, 2023
5th
Thursday
Bids + Registered Phone Bidders: 35
Lot Tracking Activity: N/A
Page Views: 1,196
Buyer's Premium per Lot:
20% of the successful bid per lot.
Classic Head Quarter Eagles Die Variety Guide
The series of Classic Head quarter eagles issued from 1834 to 1839 includes 28 different individual die varieties. To date nothing has been published regarding each of the varieties. This guide provides identification and photos of the individual varieties with an of rarity for each variety.
Download the guide
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