1808 $2 1/2 BD-1, R.4, MS61 NGC....

Description

1808 Quarter Eagle, BD-1, MS61
Among the Most Famous U.S. Type Coins
Significant Rarity in Mint Sate

1808 $2 1/2 BD-1, R.4, MS61 NGC. Bass-Dannreuther Die State b+, with a crack from the cap through the right stars, and another beginning from the left side of the final 8 in the date. The skimpy mintage of 2,710 1808 quarter eagles was accomplished using a single obverse and reverse die pair. Today, these quarter eagles are among the most widely pursued U.S. type coins, and as far as U.S. gold types, only the 1796 No Stars quarter eagle is rarer.

The two and a half dollar denomination was struck only sporadically throughout its first few decades. Small quantities were struck dated 1796, 1797, and 1798 (although not necessarily struck in those years). No more were produced until the so-called 1802/1 coins. Quarter eagles were manufactured yearly dated 1804, 1805, 1806, and 1807.

Regarding quarter eagle output in 1808, the Mint's priorities clearly lay elsewhere that year. While the coinage factory turned out 400,000 half cents, more than 1 million large cents, nearly 1.4 million half dollars, and about 55,000 half eagles, only 2,710 quarter eagles were struck. They constitute the sole production of the Capped Bust Left, Large Size type and the last quarter eagle delivery until 1821. In the years from 1796 through 1808, the Mint reportedly struck just 22,197 quarter eagles, with a face value of $55,492.50. By contrast, 55,578 half eagles with a face value of $277,890 were struck in 1808 alone.

Comparisons such as these highlight just how scarce quarter eagles from that period were and are. Their contemporary scarcity might also explain the survival of numerous 1808 quarter eagles in near-Mint State grades, a surprising number for the quantity produced. Perhaps its relatively low face value and status as an oddity among American coins encouraged saving, in much the same way as Americans today might save a $2 bill or Buffalo nickel found in circulation. The most common grade among certified survivors is AU58, where NGC has graded 16 pieces and PCGS 13. In MS61, the present coin is one of 10 examples so graded, with 11 finer, but those totals are certainly inflated by crossovers and resubmissions (4/20).

This is a fantastic example for the issue and for the grade with bright, semireflective fields and gleaming yellow-gold surfaces. The spindly die crack behind Liberty's head, from the cap to stars 8 and 9, is ever-present, as is the virtual lack of dentilation on both sides. Adjustment marks are absent. Although a few minor ticks appear on each side, this piece is well-struck overall, with incompleteness limited to the lower reverse near the denomination. Its appeal is remarkably high-end for the assigned grade. A highly sought-after gold rarity from the early days of U.S. Mint history
Census: 5 in 61, 6 finer (4/20).
Ex: Central States Signature (Heritage, 4/2011), lot 5325.

Coin Index Numbers: (NGC ID# BFVZ, Variety PCGS# 45515, Base PCGS# 7660, Greysheet# 74467)

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 NGC