1848 $2 1/2 CAL. MS62 PCGS....

Description

1848 Quarter Eagle, MS62
CAL. Counterstamped on the Reverse

1848 $2 1/2 CAL. MS62 PCGS. The first delivery of gold from the California gold fields to the Philadelphia Mint was coined into quarter eagles, each with a special mark. That delivery consisted of approximately 228 ounces of the precious yellow metal. California military governor Col. R.B. Mason sent the material to Secretary of War William Marcy who, in turn, delivered the gold to the Philadelphia Mint for quarter eagle production.
     The identifying mark, CAL., was punched into the reverse after each piece was struck, and today, some numismatic students consider these coins to be America's first commemorative coins. History enthusiasts appreciate the opportunity to acquire items made from a known source of California Gold Rush gold, and these coins meet that interest. The actual stamping of the countermark occurred with each coin carefully placed in a separate obverse die so that no flattening of the obverse would be evident. Some writers state that the coins were stamped while still in the coining press, but that is doubtful due to insufficient clearance between the dies.
     Few of the 1,389 coins produced with the special countermark survive today, and most that do survive show signs of circulation. PCGS and NGC have certified 131 examples in all grades, including just 48 submissions graded MS60 or finer. Many of the Mint State survives show prooflike surfaces as this piece does. Both sides exhibit sharp design motifs and brilliant orange-gold surfaces with minimal marks. Among the 100 Greatest U.S. Coins (#68 in 6th edition). PCGS Population: 9 in 62 (1 in 62+), 18 finer (3/26).
Ex: Long Beach Signature (Heritage, 2/2022), lot 3149. (Registry values: P2)

Coin Index Numbers: (NGC ID# 25HA, PCGS# 7749, Greysheet# 8270)

Metal: 90% Gold, 10% Copper
Weight: 4.18 grams
AGW: 0.13oz
Mintage: 1,389

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