1828 25C 25 Over 50C, B-3, R.5, MS62 PCGS....

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Sold on Oct 28, 2015 for:

$19,975.00 Bid Source: HA.com/Live bidder

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Description

1828 B-3 Quarter, 25 Over 50C, MS62
Ex: Dr. Juan XII Suros
An Absolute and Conditional Rarity

1828 25C 25 Over 50C, B-3, R.5, MS62 PCGS. The silver centers show traces of rose that deepen near the rims to cinnamon and slate-gray patina. Few abrasions appear for the grade. A small patch of planchet roughness appears above the eagle's left (facing) wing in the field, and strike softness shows on some of the reverse high points such as the claws and olive leaves. Quite nice for the grade.

Variety: B-3, R.5. Star 1 is closer to the bust than the dentils, and stars 7, 9, 0, 11, and 13 are recut. The reverse is the 25/50 reverse that was carried over from its earlier use in 1822.

Population Data (9/15): PCGS reports three submissions of the 1828 25/50 quarter in MS62 and two finer, both MS63. NGC shows an unusual distribution of Mint State submissions -- one each in MS61, MS63, and MS67 ★ . This piece is listed fourth in the Rea-Koenings-Haroutunian Census in Early Quarter Dollars, behind the Green-Newman coin (there called "MS65") and two pieces in MS63.

Heritage Commentary: This "overdenomination" error last traded publicly in the famed collection of Dr. Juan XII Suros, touted at the time by Superior as "the most complete collection of United States overdate coinage ever assembled." Among other treasures in collection were an 1817/4 half dollar, proof 1823/2 and 1827/3 quarters, a 1799/8 cent, and 1825/1 and 1825/4 half eagles.

This piece traded at a price in the Suros Collection that, with the benefit of nearly 20 years' hindsight, seems like a song today. Given the absolute and conditional rarity of this piece and its variety, dedicated numismatists will bring their "A game" to the bidding for this lot. We suspect that the next owner will have to pay far more handsomely to acquire this prize.

Gene Gardner also briefly owned the former Eric P. Newman example of this date, the aforementioned MS67 ★ NGC example -- a "dream coin" for most collectors.

Provenance: Dr. Juan XII Suros Collection (Superior Galleries, 2/1999), lot 142.

Coin Index Numbers: (NGC ID# 23RV, Variety PCGS# 38979, Base PCGS# 5343, Greysheet# 393249)

Weight: 6.74 grams

Metal: 89.24% Silver, 10.76% Copper

View Certification Details from PCGS