1836 $2 1/2 PR66 Ultra Cameo NGC. Second Head of 1837, Variety 15, R.7 as a proof....

Description

1836 Classic Head Quarter Eagle, PR66 Ultra Cameo
One of Four Known With the Second Head of 1837
Ex: Parmelee, Mills, Woodin, Eliasberg

1836 $2 1/2 PR66 Ultra Cameo NGC. Second Head of 1837, Variety 15, R.7 as a proof. The 1836 Classic Head quarter eagle is very rare in proof format. NGC and PCGS have combined to certify 12 coins in a variety of grades and die varieties (3/14), but we believe this total includes several resubmissions and crossovers. Our roster below includes just seven specimens we have been able to locate, including two in institutional collections.

No records were kept of proof mintages in the years before the Mint started its commercial proof set offerings in 1858, but the totals were always small. In the 1830s, proofs were only struck to order, the most famous instance being the 1834 diplomatic presentation proof sets requested by Secretary of State John Forsyth that included the famous Class I 1804 dollars.

The seven specimens in our roster were struck from three different die pairs, as noted by Dr. Loewinger. Two of these varieties were classified as the Head of 1834, and the Head of 1835 by Walter Breen in his Encyclopedia of United States and Colonial Proof Coins. Research by later numismatists, like David Akers and Mark Borckardt, resulted in several discoveries and changes in nomenclature. Breen's Head of 1834 is now classified as the Second Head of 1837, and the third variety, unknown to Breen, is called the Small Head of 1834. The coin offered here represents the Second Head of 1837 (Breen's Head of 1834), designated Variety 15 by Mark Borckardt in his work Classic Head Quarter Eagles. The variety is identified by the Block 8 in the date, the berry on the olive branch, and the shorter first curl above the coronet. Three other coins in the roster are from this variety, making it the most available proof variety of the date.

The present coin claims the most illustrious pedigree of any of the known specimens. It first appeared in the collection of George Seavey, and was exhibited by him at the February 4, 1869 meeting of the Boston Numismatic Society. It was later owned by famous numismatists Lorin G. Parmelee, John Mills, William H. Woodin, and Louis Eliasberg, among others. The coin possesses stunning eye appeal to complement its high technical grade. The richly frosted devices contrast boldly with the deeply mirrored fields, creating an intense cameo effect. The design elements are sharply detailed in most areas, with just a touch of softness on Liberty's hair below the coronet and the shield border. The well-preserved copper-gold surfaces show only minor signs of contact. It may be years before a comparable specimen becomes available.

Roster of 1836 Proof Quarter Eagles.
1. PR66 Ultra Cameo NGC, Second Head of 1837. George Seavey; Seavey Descriptive Catalog (William Strobridge, 6/1873), lot 553; Lorin G. Parmelee, who purchased Seavey's collection intact before the date of the sale; Parmelee Collection (New York Coin & Stamp, 6/1890), lot 1055; Harlan Page Smith; John G. Mills Collection (S.H. & H. Chapman, 4/1904), lot 550; William H. Woodin Collection (Thomas Elder, 3/1911), lot 956; John H. Clapp; purchased from the Clapp Estate in 1942 by Louis E. Eliasberg, Sr., in a blockbuster sale of the entire Clapp collection via Stack's; United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 103; Harry W. Bass, Jr.; Bass Collection, Part III (Bowers and Merena, 5/2000), lot 92; A Gentleman's Collection (American Numismatic Rarities, 6/2005), lot 1007, realized $247,250; Baltimore Auction (Stack's Bowers, 3/2012), lot 4264, realized $287,500; the present coin.
2. Choice Brilliant Proof, Second Head of 1837. Col. E.H.R. Green; Jerome Kern Collection (B. Max Mehl, 5/1950), lot 26; Abe Kosoff; 55th Anniversary Sale (Stack's, 10/1990), lot 1674.
3. PR66 Deep Cameo, per Jeff Garrett and Ron Guth, Second Head of 1837. Smithsonian Institution.
4. Proof Uncertified, Second Head of 1837. Harry Osborn Cureton; purchased by the British Museum in 1845, reported by Saul Teichman and John Dannreuther.
5. PR66 Ultra Cameo NGC, Small Head of 1834. First seen in the Stone House Coin Shop, per Walter Breen; 68th Anniversary Sale (Stack's, 10/2003), lot 2072; Dr. Robert Loewinger Collection (Heritage, 1/2007), lot 3104, realized $253,000.
6. PR64 Cameo PCGS, Small Head of 1834. World's Greatest Collection (Numismatic Gallery, 1/1946), lot 103; Memorable Collection (Numismatic Gallery, 3/1948), lot 97; John Jay Pittman Collection, Part II (David Akers, 5/1998), lot 1720; Lucien M. LaRiviere Collection, Part III (Bowers and Merena, 5/2001), lot 171; Central States Signature (Heritage, 4/2012), lot 5214, realized $195,500.
7. PR66 ★ Ultra Cameo NGC, Head of 1835. A specimen from a complete proof set purchased directly from the Mint, preserved for generations by a Philadelphia area family; Brian Hendelson; Midwestern collector; Rarities Sale (Bowers and Merena, 7/2002), lot 577; Tacasyl Collection (Bonhams, 9/2013), lot 1002, realized $409,500.(Registry values: P1)

Coin Index Numbers: (NGC ID# 286W, PCGS# 7712, Greysheet# 8244)

Weight: 4.18 grams

Metal: 89.92% Gold, 10.08% 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 NGC