1802/'1' $2 1/2 BD-3, R.5, MS64+ PCGS Secure. CAC....

Description

1802/'1' Quarter Eagle, BD-3, MS64+
Rare Variety, Sole Finest Certified

1802/'1' $2 1/2 BD-3, R.5, MS64+ PCGS Secure. CAC. Bass-Dannreuther Die State b/b. The double-punching on the leftmost star on the reverse is sufficient to diagnose this variety, as the same obverse die (called both 1802/1 and merely 1802; numismatists including John Dannreuther [and Harry Bass, Jr. before him] question the overdate status) was used with all three quarter eagle reverses known for the year. The reverse die was also used in later states to strike the 1802 JR-1 and 1803 JR-1 dimes. The BD-3 variety is rarer (R.5) than the BD-1 (R.4) and less rare than the High R.5 BD-2, according to the Bass-Dannreuther estimates.

The blond-gold surfaces of this quarter eagle are amazingly well-preserved for a soft gold coin more than 200 years old. Splendid luster abounds throughout the surfaces on this high-end coin, amplifying the already-high eye appeal. A couple of light grazes on the upper shield area of the reverse are the only mentionable post-Mint contact. Some light planchet adjustment marks on the obverse are scarcely seen, blending into Liberty's hair and lower turban cap. Nonetheless, the fields and the device high points overall exhibit a noteworthy lack of mentionable abrasions. Some minor strike softness is confined to the immediate centers of both sides.

Offerings of this rare variety in any Mint State grade are expectedly infrequent, and far more so at the near-Gem level of the present piece. This piece was formerly graded MS65 NGC and offered as lot 5020 in our FUN Signature (Heritage, 1/2011), where it realized $172,500. This piece boasts enormous aesthetic appeal and should realize a strong result among the many specialists whose attention this coin will pique.

This piece conditionally approaches the zenith of the surviving population. For all varieties of the 1802, NGC reports three submissions in MS64 and the lone MS65 discussed above, a duplicate grading event for this coin; PCGS for all varieties shows one example of the BD-1 in MS64, and this sole example of the BD-3 in MS64+. This piece is the sole finest of the date graded at either service and likely the finest known (10/15). The CAC approval of this coin further cements its status as one of the most desirable Draped Bust quarter eagles that could conceivably be obtained by advanced numismatists.
From The McCoy Family Collection of U.S. Early Gold Quarter Eagles.

Coin Index Numbers: (NGC ID# 25F6, Variety PCGS# 45508, Base PCGS# 7650, Greysheet# 213450)

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.

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