1802/1 $2 1/2 BD-2, High R.5, MS62 NGC....

Description

1802/1 Quarter Eagle, MS62
Possible Finest-Known Example of BD-2

1802/1 $2 1/2 BD-2, High R.5, MS62 NGC. Among the cleverest innovations from the early days of the U.S. Mint was the dual use of reverse dies -- lacking any denomination stamped on them -- for both silver dimes and gold quarter eagles. The dual-purpose dies were used from 1797 until 1807. In that 11-year period, there were seven reverse dies used for both denominations, producing a total of 23 separate dime and quarter die marriages -- 11 quarter eagles, 12 dimes.

Famed collector Ed Price was fascinated by these dual-use dies and assembled complete die variety sets of both denominations--the only collector who has ever accomplished that goal. The reverse of the present BD-2 quarter eagle was also used to produce the BD-1 1804 13 Stars quarter eagle, and the 1802 JR-4 and 1804 13 Stars JR-1 dimes. The 1802 is usually identified as an overdate, but Garrett and Guth comment that "the attribution is tentative and the '1,' which is barely visible (even under magnification), may be just an artifact."

Of the three 1802 quarter eagle die varieties, the BD-2 is by far the rarest (estimated 20-25 known). As we wrote in the Ed Price Collection, this piece is "A wonderful example with brilliant green-gold luster on both sides. The obverse is frosty, and the reverse is satiny with reflective fields. A few scattered marks are entirely insignificant. Like most 1802 quarter eagles, the central obverse and reverse design elements are weak. This is possibly the only Mint State example of the variety known."
Ex: Bowers and Merena (11/2002), lot 3064; The Ed Price Collection of Early Dime and Quarter Eagle Varieties (Heritage, 7-8/2008), lot 1457, which realized $40,250; Long Beach Signature (Heritage, 2/2009), lot 2401; Central States Signature (Heritage, 4-5/2009), lot 2669

Coin Index Numbers: (Variety PCGS# 45507, Base PCGS# 7650, Greysheet# 213449)

Metal: 91.67% Gold, 8.33% Copper
Weight: 4.37 grams
AGW: 0.14oz
Mintage: 3,035

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