1797 $2 1/2

Description

One of Only Three Certified Mint State 1797 Quarter Eagles

1797 $2 1/2 MS60 NGC. The earliest Quarter Eagles produced by the U.S. Mint were delivered in limited numbers of a few hundred or, at most, a few thousand coins. These coins did not circulate widely, and most examples were probably stored in bank vaults until melted at a later date. While the first scenario explains why survivors are generally in the higher circulated grades, the second explains the rarity of all dates in the Capped Bust Right series. The second-year 1797 has a paltry original mintage of 427 pieces, survivors of which number perhaps as few as 20 coins (per Breen, 1988). NGC and PCGS combined have seen 22 coins, only three of which have been graded Mint State (5/01). The present specimen is predominantly green-gold in color, but some isolated swirls of copper patina are seen on both sides. The strike is a little uneven, and adjustment marks (as produced) on the reverse have also prevented all of the features from striking up fully. The die crack (as struck) in the right obverse field is diagnostic of this issue, small planchet flaws (also as struck) are scattered over both sides, and the number of abrasions is consistent with the assigned grade. We note, however, that few of the latter features are large enough to warrant individual attention. A partially prooflike survivor of this rare Quarter Eagle, this BU example is destined for inclusion in the finest collection of early gold.
From the Richard Genaitis Collection.

Coin Index Numbers: (PCGS# 7648, Greysheet# 8210)

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 all of [The Richard Genaitis Collection, Part 1 ]

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