1837 $2 1/2 MS64 PCGS. CAC....

Description

Memorable 1837 Classic Head Quarter Eagle
MS64, Among the Finest Certified
Low-Mintage Issue

1837 $2 1/2 MS64 PCGS. CAC. McCloskey-B, R.2. Mintage of Classic Head quarter eagles dropped to only 45,080 pieces in 1837, less than one-tenth the production of the previous year. Half eagle production was reduced by approximately 50% as well. Perhaps miners in the Southern gold fields held off shipping their holdings to Philadelphia in anticipation of the opening of the branch mints at Charlotte, Dahlonega, and New Orleans in 1838. Whatever the reason for the low mintage, both Walter Breen and David Akers report the 1837 is a "very scarce" date today. In the Encyclopedia of U.S. Gold Coins, Jeff Garrett and Ron Guth opine, "Mint State examples are very rare and tend to settle at the lower end of the Mint State spectrum." Population data confirms this statement, as only three examples have been certified at the MS64 level by PCGS, with one finer; NGC has graded no coin in this high numeric grade (6/09).
Three die varieties are known for this date. The present coin is an example of the McCloskey-B variety, distinguished by having three distinct lines in each vertical stripe on the shield and the lowest arrowhead touching the second A in AMERICA. McCloskey-B is the most available of the three.
The 1837 quarter eagle has always been popular with collectors. Auction appearances began as early as the A.C. Kline Sale (Moses Thomas & Sons, 6/1855), lot 200. George Seavey acquired a truly remarkable proof specimen of this date by 1869, when he exhibited his gold collection before the Boston Numismatic Society. The coin passed to Lorin G. Parmelee, John Mills, John Clapp, and Louis Eliasberg, one of only three proof specimens known of this elusive issue.
While not one of the ultrarare proofs, this coin is an extremely impressive example, with notably prooflike fields and a sharp strike. There is some softness on the central curls, as always seen on this issue. The only mentionable mark is in the upper reverse field to the right of the eagle's neck. Slight reddish patina around the margins accents the usual green-gold color. A visual treat, and one of the finest known specimens of this low mintage date.(Registry values: P2)

Coin Index Numbers: (NGC ID# 25FX, PCGS# 7695, Greysheet# 8245)

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 PCGS