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

Description

Marvelous 1837 Classic Head Quarter Eagle
MS64, Only One Finer at PCGS
Rare, Low-Mintage Type Coin

1837 $2 1/2 MS64 PCGS. Variety 16, R.2. This is a marvelous and conditionally rare Classic Head type coin, with original "skin" and radiating enormous eye appeal. The surfaces have hints of both orange-gold and greenish-gold, with much luster present. The strike is well-executed overall, although the center high points are a bit soft on a couple of Liberty's hair curls and the left shield area on the reverse. Abrasions are minor, save for a single scrape above the eagle's head. A tiny die crack joins star 9 to a rear curl.
On the obverse the 7 is centered under the left edge of the lowest hair curl and close to it, distant from the border. Star 6 points to the top corner of the headband, and star 7 points to the right half of the first curl. On the reverse there are three vertical lines in each shield stripe. The letters of UNITED STATES OF are well-separated. AME and RI are joined, and the right base of the A is minutely above the left base of M. The lowest arrow solidly joins the right base of the final A. The stem tip is over the right upright of the D, and the lowest arrow feather is over the outer right curve of the large 2. This reverse is a carryover from its first use, in 1834 for the Variety 1 issue.
The 1837 quarter eagle issue by any measure is the rarest, most elusive, and priciest of the first four Classic Head quarter eagles, one that shows an extremely steep price/condition curve as the higher Mint State levels are ascended, from MS62 to MS63 to MS64 to MS65. The mintage was recorded at only 45,080 pieces--but Mint history makes it clear that to assume all of those coins were dated 1837 would be an enormous leap of faith. The nominal mintage is nonetheless several times less than the previous three years' issues.
The PCGS-certified populations more or less reflect that dichotomy, except for the anomalous 1835 quarter eagles, which show two coins each in MS64 and MS65--perhaps most of that issue was dated 1834? For example, the 1836 Script 8 and Block 8 coins combined show 24 coins certified in MS64, with six finer (3/10). This 1837, on the other hand, is one of only three coins certified at this level, with a single MS65 finer. In summary, this is a nearly unimprovable coin for the issue, suited for the finest type, date, or Registry Set.(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