1848 $2 1/2 CAL. XF40 NGC....

Description

1848 Two and a Half, XF40
CAL. Counterstamp
Celebrated and Historic Rarity

1848 $2 1/2 CAL. XF40 NGC. John Marshall discovered gold on the mill of John Sutter on January 24, 1848. Word spread slowly, but by late that year it was obvious that California, recently secured from Mexico, would yield a vast amount of the precious gold metal. R.B. Mason, the military governor of California, shipped 230 ounces of gold to Washington, D.C. in December 1848. Secretary of War W.L. Marcy wrote to Mint Director Robert Patterson, suggesting "it be made into quarter eagles with a distinguishing mark on each." The mint-made CAL. counterstamp is reminiscent of the VIGO impression on 1703 British gold coins. Only 1,389 1848 quarter eagles were counterstamped by the Mint. Most went into circulation and remained there for some time, since few people could afford to set aside a souvenir of such value. NGC has certified just 44 examples in all grades. The significance of the issue has long been recognized, and it remains famous today. In the third edition of 100 Greatest U.S. Coins, Jeff Garrett and Ron Guth rank the 1848 CAL. quarter eagle at #37.

This sun-gold example displays lightly impressed centers, but the stars, dentils, and other peripheral elements are sharp. The all-important counterstamp is bold. The slightly glossy surfaces lack any distracting marks. Minor strike-throughs on the lower right obverse field are of mint origin. An important opportunity to obtain a specimen of this legendary numismatic rarity.(Registry values: P2)

Coin Index Numbers: (NGC ID# 25HA, PCGS# 7749, Greysheet# 8270)

Weight: 4.18 grams

Metal: 90% Gold, 10% 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.

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