1827/3 25C Original PR63 PCGS. B-1, R.7....

Click the image to load the highest resolution version.

Sold on Jan 7, 2015 for:

$188,000.00 Bid Source: Internet bidder

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

1827/3 Original Quarter, PR63
Only Nine Originals Known
Classic 19th Century Rarity, Ex: Pittman

1827/3 25C Original PR63 PCGS. B-1, R.7. The 1827 Capped Bust quarter is one of the most famous and enigmatic issues in the American silver series. According to Mint records, 4,000 business strike Capped Bust quarters were delivered in December 1827, but only nine Original 1827-dated quarters are known to numismatists today, and they were all struck in proof format. Numismatic author and researcher Karl Moulton believes the quarters delivered in December of 1827 were actually dated 1828, and the 1827-dated coins were struck in limited numbers for some different purpose, perhaps as gifts for Mint employees and Treasury officials. The 1827 Capped Bust quarters were known as fabulous rarities as early as the mid-19th century and collector demand for the issue was so great that a number of Restrikes were made in later years, which have become sought-after rarities in their own right.

The first mention of the 1827 Capped Bust quarters in the popular press was in a letter written by "Outsider" in the September 13, 1857 edition of the New York Dispatch:

"In 1827 only four quarters were struck from the die. Mickley, of Philadelphia, has one. Long, of the same city, another, Graves and Weston, proprietors of the American Union, of Boston, the third, and the fourth I have not got the run of."

"Outsider" has not been positively identified, but J.N.T. Levick or John K. Curtis are the most likely candidates. Interestingly, the letter erroneously states only four 1827 quarters were struck. This may be the ultimate source of the numismatic legend about Joseph Mickley purchasing four 1827 quarters from the Mint for face value. The letter identified Mickley, Boston newspaper owners Graves and Weston, and Philadelphia entrepreneur William W. Long as the earliest known owners of 1827 quarters.

The coin offered here is the example traced to William W. Long in 1857. Long was a jack-of-all-trades who ran a combination restaurant/museum/arcade/hotel/ shooting-gallery/bowling alley/pool hall establishment in Philadelphia in the 1850s. In addition to his other activities, Long avidly collected coins, visiting the Mint and purchasing a complete set of large cents from the sale of Louis Brechemin's estate by Davis & Harvey in 1867. He also acquired the 1855-S proof quarter and one of the 1855-S proof half dollars from the San Francisco Mint. According to Edward Cogan, Long sold his 1827 Original quarter sometime before 1867 to prominent Philadelphia collector Robert Coulton Davis. The coin later passed through a succession of famous collections, including those of H.P. Smith, H.O. Granberg, Waldo Newcomer, King Farouk, and John Jay Pittman.

The present coin possesses the high technical quality of the best early 19th century proofs and the aesthetic appeal to match its intense historic interest and illustrious pedigree. The well-preserved surfaces exhibit an attractive mix of lavender-gray, greenish-gold, and cerulean-blue toning, with reflective fields shining through the patina. The design elements are sharply detailed in most areas, but the leaves of the olive branch show just a touch of softness. As on all 1827 Original quarters, the date shows the remnants of an undertype 3 below the primary 7 in the date. Researchers believe the die was originally dated 1822, then overdated in 1823, and finally overdated for the last time in 1827. A small planchet anomaly, possibly from a piece of debris that was struck through during the striking process, is evident near the obverse rim at 5 o'clock and makes an ideal pedigree marker. This is only the third 1827 Original quarter Heritage has handled over the last two decades. Discerning collectors should bid accordingly. Population: 1 in 63, 4 finer (11/14).
Ex: William Long, circa 1857; Robert Coulton Davis, circa 1867; R.C. Davis Collection (New York Coin & Stamp, 1/1890), lot 1425; Harlan Page Smith Collection (S.H. & H. Chapman, 6/1906), lot 779 (misattributed as a Restrike); H.O. Granberg, exhibited at the 1914 ANS Exhibition; Waldo Newcomer; Charles M. Williams; Abe Kosoff and Abner Kreisberg; Adolphe Menjou Collection (Numismatic Gallery, 6/1950), lot 696; King Farouk; Palace Collections of Egypt (Sotheby's, 2/1954), lot 1688; John Jay Pittman; Pittman Collection, Part II (David Akers, 5/1988), lot 1283; Americana Sale (Stack's, 1/2004), lot 3700; J.B. Worthington Collection (American Numismatic Rarities, 5/2005), lot 200.
From The Sweet Bloomfield Collection.(Registry values: P10)

Coin Index Numbers: (NGC ID# 23S9, PCGS# 5373, Greysheet# 5075)

Weight: 6.74 grams

Metal: 89.24% Silver, 10.76% Copper

View all of [The Sweet Bloomfield Collection ]

View Certification Details from PCGS