LOT #3140 |
Reserve Amount: $275,000
1841 $2 1/2 MS61 PCGS....
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Description
1841 Liberty Quarter Eagle, MS61
Enigmatic Classic Gold Rarity
16 Examples Traced
Ex: Norweb
1841 $2 1/2 MS61 PCGS. The 1841 Liberty quarter eagle is a
landmark rarity in the popular U.S. gold series. John Dannreuther
estimates the surviving population at 14 to 18 examples in all
grades, while PCGS CoinFacts estimates 12 to 13 specimens are
extant in business-strike format and four proofs are known. PCGS
and NGC have combined to certify 18 coins in both formats between
them, including an unknown number of resubmissions and crossovers
(3/26). We have listed 16 examples positively identified in our
roster below, including three coins in institutional collections at
the Smithsonian Institution and the Connecticut State Library. In
addition to its absolute rarity, the issue has an enigmatic origin
that has fascinated and baffled numismatists since the earliest
days of the hobby. Heritage Auctions is privileged to present the
finest-certified business-strike example of this sought-after
rarity in this important offering.Clouded Origins
No official documentation about the striking of the 1841 Liberty quarter eagle has ever come to light. The 1841 Annual Report of the Director of the Mint does not list any quarter eagles produced at the Philadelphia Mint that year. During this early era, proof coins were only struck by order, to illustrate design features for congressional representatives, satisfy requests from influential collectors, or commemorate special occasions. Accordingly, no mintage figures were recorded for proof issues. The absence of mintage figures in official documents led many numismatists to conclude that the 1841 Liberty quarter eagle was a proof-only issue, with no business strikes produced. Supporting this theory, all known 1841 quarter eagles were struck from the reverse die used exclusively to strike proofs from 1840 through 1848.
The "proof only" theory was accepted for many years, but it has been questioned by some researchers in recent times, who reason that the number of known specimens far exceeds the number of proofs produced for other dates of this era. Also, the fact that most of the survivors show signs of circulation, rather than careful preservation, suggests that some of the coins may have been struck as business strikes. Expert opinion is divided on this issue today and, since 2012, PCGS certifies coins in both formats, while NGC continues to certify all examples as proofs. We expect the last word on this subject has yet to be written.
From Early Obscurity to Celebrated Series Key
Despite the absence of official documentation, the 1841 quarter eagle has been known to exist since the time of issue. A specimen was placed in the Mint Cabinet in 1841 and Jacob Eckfeldt and William Dubois mentioned the issue, and provided an engraved image of an example, in their 1842 book A Manual of Gold and Silver Coins of All Nations. Mint Director James Ross Snowden also specifically mentioned the 1841 quarter eagle in his 1860 reference on the Mint Cabinet, but the issue seldom appeared at auction in the 19th century and little notice was taken on the rare occasions when a specimen was publicly offered. It was only when Edgar Adams mentioned that only two examples were known to him in his 1909 Official Premium List of United States Private and Territorial Gold Coins that the 1841 became a widely sought-after issue. By then, most of the coins had spent some time in circulation and high-grade specimens were prime condition rarities. Today, the 1841 Liberty quarter eagle is one of the most famous issues of the series and any public offering will inspire headlines in the numismatic press. Prices realized have risen accordingly, with recent sales including the present MS61 example that realized a record $327,375 in a Great Collections sale in 2025. We expect intense competition from series specialists and Registry Set enthusiasts when this lot is called.
The Present Coin
The coin offered here was once a highlight of the famous Norweb Collection, a mark of distinction for any coin. A couple of proof examples have survived in higher grades, but this piece is the finest-certified circulation-strike example of this classic rarity.
This remarkable MS61 specimen exhibits sharply detailed design elements throughout. The pleasing orange-gold surfaces show the expected number of minor contact marks for the grade, with hints of copper-red patina in selected areas. The fields display a mix of satiny mint luster and strong prooflike reflectivity. The overall presentation is most attractive. This coin possesses an unbeatable combination of absolute rarity, high technical quality, strong eye appeal, and intense historic interest, with an illustrious pedigree. It should find a home in the finest collection or Registry Set. The 1841 Liberty quarter eagle is listed among the 100 Greatest U.S. Coins. This coin is pictured on PCGS CoinFacts. PCGS Population: 1 in 61, 0 finer (3/26).
Roster of 1841 Quarter Eagles
This listing is based on Saul Teichman's roster on the Newman Numismatic Portal and John Dannreuther's roster in United States Proof Coins, Volume IV: Gold.
1. PR65 Deep Cameo. Mint Collection; National Numismatic Cabinet; Smithsonian Institution.
2. PR65 Ultra Cameo NGC. Adolphe Menjou Collection (Numismatic Gallery, 6/1950), lot 1189; R.F. Schermerhorn Collection; Robert Friedberg; H.P. Graves Collection; Stack's (5/1954), lot 691; Grant Pierce; Stack's (8/1976), lot 2787; Superior (2/1991), lot 2664; Heritage (6/2004), lot 6204; Heritage (7/2005), lot 10321.
3. PR64 Cameo PCGS. A.H. Baldwin; B.G. Johnson; Wayte Raymond; Waldo C. Newcomer; Col. E.H.R. Green; F.C.C. Boyd; World's Greatest Collection (Numismatic Gallery, 1/1946), lot 108; J.F. Bell (Jake Shapiro); Memorable Collection (Numismatic Gallery, 3/1948), lot 101; Louis E. Eliasberg, Sr. (Bowers and Ruddy, 10/1982), lot 117; Harry W. Bass, Jr. (Bowers and Merena, 5/2000), lot 105; Mack and Brent Pogue Collection; The Pogue Collection, Part VII (Stack's Bowers, 3/2020), lot 7324; Elite Collection.
4. MS61 PCGS. Norweb Family Collection (Bowers and Merena, 3/1988), lot 1970; Auction '89 (Superior, 7/1989), lot 844; offered by Great Collections.com on 9/28/2025; realized $327,375. The present coin.
5. MS60 PCGS. "...discovered in a safety deposit box, has remained unknown for many years and is now being offered at auction for the first time" (per Christie's description); Christie's (4/1985), lot 937; Auction '86 (Superior, 7/1986), lot 1345; Central States Signature (Heritage, 4/2012), lot 5220 (as NGC PR55); The Poulos Family Collection / ANA Signature (Heritage, 8/2019), lot 3844 (as NGC PR55); Spring 2024 Rarities Night (Stack's Bowers, 3/2024), lot 4236; $288,000.
6. PR60 PCGS. Samuel Wolfson (Stack's, 10/1962), lot 114; Alex Shuford (A. Kosoff, 5/1968), lot 1731; ANA Sale (Jess Peters, 8/1973), lot 821; Bowers and Ruddy (2/1974), lot 739; Worldwide Coins (2/1974); Harry W. Bass, Jr. (Bowers and Merena, 10/1999), lot 335; $115,000; Doug Winter; private collection.
7. PR58 NGC. Mid American (5/1985), lot 1223; Superior (10/1989), lot 3995, Auction '90 (David Akers, 8/1990), lot 1841; R.M. Philips Limited Partnership (Heritage, 7/2009), lot 1230, $132,250.
8. PR55 NGC. Stephen Baer; Q. David Bowers; Arthur Lamborn; Fairfield Collection (Bowers and Ruddy, 10/1977), lot 1481; Winsor Collection (Abner Kreisberg, 11/1981), lot 254; Kramer Collection (Stack's and Superior, 11/1988), lot 115; Superior (5/1989), lot 1751; Superior (10/1989), lot 3996; Bowers and Merena (11/1998), lot 2157; Superior (1/2004), lot 783; Heritage (2/2004), lot 13730; Heritage (11/2004), lot 24683; Heritage (4/2005), lot 11482; Heritage (10/2011), lot 4758; $132,250.
9. PR55. Anderson Dupont Collection (en bloc via Stack's); Josiah K. Lilly Collection; Smithsonian Institution.
10. AU53 PCGS. Arthur Lamborn; Bowers and Ruddy (12/1977), lot 6406; Heritage (2/2007), lot 4375; Heritage (3/2014), lot 30299, $164,500.
11. PR50 NGC. James A. Stack Collection (Stack's, 10/1994), lot 865; Richmond Collection (David Lawrence, 7/2004), lot 1097; Superior (1/2005), lot 970; Heritage (5/2005), lot 8505; Summer FUN Signature (Heritage, 7/2022), lot 3221, $228,000; ANA Signature (Heritage, 8/2025), lot 3346, $156,000.
12. Proof. J.C. Mitchelson Collection; Connecticut State Library. Impaired per John Dannreuther.
13. XF45 PCGS. Stack's Bowers (3/2012), lot 4266, $105,800, "Held in a family collection for many years, we were unable to trace it to a prior auction appearance and it may have been privately traded up until this offering" per the Stack's Bowers catalog; Bruce Sherman Collection; Central States Signature (Heritage, 4/2025), lot 3087, $138,000; Rarities Night Auction (Stack's Bowers, 3/2026), lot 3114, $120,000.
14. PR40 PCGS. New York Resident; Empire Coins; Empire Review #14; Arthur Lamborn; Auction '85 (Paramount, 7/1985), lot 1419; Superior (9/1999), lot 1862; American Numismatic Rarities (9/2005), lot 1074, $92,000.
15. VF35 PCGS. Lester Merkin (2/1972), lot 368A; Bowers and Ruddy (5/1973), lot 1009; Robison Collection (Stack's, 2/1979), lot 115; Summer FUN Signature (Heritage, 7/2023), lot 3180, $150,000.
16. PR4 PCGS. Edwin Hydeman Collection (Abe Kosoff, 3/1961), lot 548; Rarcoa (1/1969), lot 399; U.S. Coins Signature (Heritage, 8/2020), lot 3967, $52,800. Likely earlier from the March 1940 B. Max Mehl sale, lot 1324, and probably reappearing in Abner Kreisberg (6/1970), lot 1497.
Additional Appearances (likely some duplication within the roster)
A. XF or finer. Dunham Collection (B. Max Mehl, 6/1941), lot 1932; J.F. Bell (RARCOA, 4/1963), lot 108. Mehl was known for using "stock" photos, not necessarily an image of the coin being sold. John Dannreuther recorded the pedigree from Dunham to the 1963 Bell sale. This coin was stolen in December, 1964 at the GENA convention in New York.
B. VG. Seavey Collection (Strobridge, 1873), lot 612; Parmelee Collection (New York Coin, 6/1890), lot 1122.
C. W. Elliot Woodward (10/1884), lot 1958.
D. There is a listing for an 1841 quarter eagle in the Col. Mendes Cohen Collection auction catalog (Edward Cogan, 10/1875), lot 209, but that is a Dahlonega coin (not mentioned in the catalog).
Coin Index Numbers: (PCGS# 87720, Greysheet# 374093)
Weight: 4.18 grams
Metal: 90% Gold, 10% 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.
Auction Info
2026 April 29 - May 2 CSNS US Coins Signature® Auction #1393 (go to Auction Home page)
Proxy Bidding Ends
April
29th
Wednesday
1:50 pm CT
Auction Dates
Apr-May
29th-2nd
Wednesday-Saturday
Proxy Bidding Time Remaining
2 Days
14h 46m 19s
Bids + Registered Phone Bidders: 34
Lot Tracking Activity: 35
Page Views: 530
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Additional Location Info:
Heritage Auctions - Dallas
2801 W. Airport Freeway
Dallas, TX 75261
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*Reserve Not Met. A reserve has been posted on this lot, but no bids have met the reserve. The next bid will meet the reserve.