1834 $2 1/2 Small Head, HM-1, JD-1, R.7 as a Proof, PR64 Cameo PCGS....

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1834 Classic Head Quarter Eagle, PR64 Cameo
Extremely Rare Early Gold Proof
Small Head, HM-1, JD-1

1834 $2 1/2 Small Head, HM-1, JD-1, R.7 as a Proof, PR64 Cameo PCGS. The year 1834 was a pivotal one for U.S. gold coins in particular. The melt value of a quarter eagle produced in the old-tenor Capped Bust style had risen to $2.66, causing widespread exportation and melting. To rectify this problem, the gold content of the coins was reduced and the Classic Head, No Motto design was introduced to signify the change. A small mintage of proofs of the new design was struck to order for collectors and government officials at different times throughout the year. For example, proof quarter eagles were included in the diplomatic presentation sets that were struck late in the year and gifted to various foreign rulers during trade negotiations. Those sets also included examples of the rare 1804 dollar.

In his series reference, United States Proof Coins, Volume IV: Gold, John Dannreuther speculates as many as 12 proof 1834 Classic Head quarter eagles may have been produced, with two die varieties known for the issue. This coin represents the JD-1 variety, with the Small Head of Liberty on the obverse. Dannreuther estimates 8 to 10 examples of the JD-1 variety survive today in all grades, but only a single specimen of the JD-2 has been confirmed. PCGS and NGC have combined to certify 11 coins between them, including an unknown number of resubmissions and crossovers (7/25). The single known JD-2 specimen is included in the National Numismatic Collection at the Smithsonian Institution. We have listed all examples known to us in the roster below.

The present near-Gem Cameo specimen is a coin with marvelous eye appeal and outstanding surface texture throughout both sides. The contrast is quite profound, much more so than the mere Cameo designation might imply. The devices are profoundly frosted throughout, not only the central devices but the date, peripheral stars, and reverse legends. The mirrored field reflectivity, as contrasting background, is sufficiently deep that we wonder why this coin did not receive a Deep Cameo designation. There are no mentionable signs of contact. The strike is razor-sharp throughout, full or nearly so in all areas. Some doubling is evident on the letters in ATES OF. The consistent orange-gold coloration is a further plus. This coin is pictured on PCGS CoinFacts and is the number 2 coin in their Condition Census. Population: 3 in 64 Cameo, 1 finer (7/25).

Roster of 1834 Classic Head Proof Quarter Eagles
This roster was compiled by Ron Guth and The Numismatic Detective Agency. Grades are per the last auction appearance, unless a subsequent certification event is known.
1. PR66 Cameo NGC. JD-1. Lorin G. Parmelee Collection (New York Coin & Stamp Co., 6/1890), lot 1031, $15; Clarence S. Bement Collection (Henry Chapman, 5/1916), lot 227; William H. Woodin Collection; Waldo C. Newcomer Collection; "Colonel" E.H.R. Green Collection; Jerome David Kern Collection/Golden Jubilee Sale (B. Max Mehl, 5/1950), lot 23; T.L. Gaskill Collection (New Netherlands, 11/1956), lot 202; John Jay Pittman Collection, Part II (David W. Akers, 5/1998), lot 1718, $176,000.
2. PR65 Cameo PCGS. JD-1. Auction '88 (David W. Akers, 7/1988), lot 857, $57,750; D.L. Hansen Collection.
3. PR65 Cameo PCGS. JD-1. King of Siam, delivered as part of a complete set of US Proof coins by special agent Edmund Roberts on 4/6/1836; King Ph'ra Nang Klao (Rama III) of Siam; King Rama III; King Rama IV; Anna Leonowens and her descendants (per the following); David Spink, purchased in 1962 and displayed at the 1962 American Numismatic Association in Atlanta, Georgia; Lester Merkin, sold privately in 1979; Elvin I. Unterman Collection, loaned to the Smithsonian Institution for display from 1983 to 1984; King of Siam Sale (Bowers and Merena, 10/1987), lot 2209; Partnership of Rarities Group and Continental Rarity Coin Fund 1 (via Stack's); Father Flanagan's Boys Home (Superior, 5/1990), lot 3364; Partnership of Iraj Sayah and Terry Brand (Superior, 1/1993), lot 1196; Spectrum Numismatics and Mike's Coin Chest, sold in 2001 to an anonymous collector via Spectrum Numismatics and Mike's Coin Chest for a price reported to be in excess of $4.14 million; Goldberg Auctions, sold privately in 11/2005; Rare Coin Wholesalers, purchased on 11/1/2005 for a reported $8.5 million; Tyrant Collection (displayed at the 8/2021 ANA Convention).
4. PR64+ Deep Cameo Uncertified (per John Dannreuther). JD-2. Mint Cabinet Collection, presumably among the coins transferred from Adam Eckfeldt in 1838; National Numismatic Collection at the Smithsonian Institution (ID #1988.0063.0079).
5. PR64 Cameo PCGS CAC. JD-1. G.F.E. Wilharm Collection (B. Max Mehl, 2/1921), lot 71; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 101, $17,600; Harry W. Bass, Jr. Core Collection, Part I (HBCC# 1007) (Heritage, 9/2022), lot 11012, $210,000; Duke Collection (PCGS Set Registry).
6. PR64 Cameo PCGS. JD-1. John Work Garrett Collection / Johns Hopkins University Collection, Part II (Bowers and Ruddy, 3/1980), lot 754, $135,000; Joe Flynn and Son Rare Coins; Auction '84 (RARCOA, 7/1984), lot 1887, $60,500; Vintage Auctions; Rarities Sale (Bowers and Merena, 5/2004), lot 356, $161,000; Tampa FUN (Heritage, 1/2011), lot 5333, $138,000; The McCoy Family Collection / FUN Signature (Heritage, 1/2025), lot 4730, realized $210,000. The present coin.
7. PR63 Cameo PCGS. JD-1. ANA Signature (Heritage, 10/2012), lot 5535, $85,320.
8. PR62 NGC. JD-1. February Sale (Superior, 2/1991), lot 2657, $41,800; Clark E. Adams and Duncan MacMillan Collections (Superior, 10/1992), lot 1331, $23,650.
From The Colorado Collection.

Coin Index Numbers: (Variety PCGS# 106234, Base PCGS# 87710)

Weight: 4.18 grams

Metal: 89.92% Gold, 10.08% Copper

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