1831 25C Large Letters PR64 PCGS. CAC. B-5, R.7 as a proof....

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Description

1831 Capped Bust Quarter, PR64
Very Rare Early Proof Issue
Large Letters, B-5 Variety

1831 25C Large Letters PR64 PCGS. CAC. B-5, R.7 as a proof. Vivid shades of golden-brown, electric-blue, and violet toning blanket the peripheries of this spectacular Choice proof specimen, but the obverse center remains brilliant silver. The richly frosted silver-white portrait contrasts noticeably with the deeply mirrored, patinated fields, creating a distinct cameo effect. The design elements exhibit razor-sharp detail in most areas, but just a touch of softness shows on some star centers. Only minor signs of contact are evident, and the eye appeal is top-notch.

Variety: This coin represents the B-5 variety, with Tall 1s over Short 1s in the date and Large Letters in the reverse legend. Most proof 1831 Capped Bust quarters are this variety, but proofs of the B-1, B-2, and B-4 varieties have also been certified. The B-5 is the only proof variety with Large Letters on the reverse, a circumstance that makes it possible to classify examples in early auction catalogs where this feature is mentioned in the description, even if the coin is unplated.

Population Data (7/14): PCGS has graded nine specimens of the 1831 Capped Bust quarter in proof format, all Large Letters, B-5 examples. The present coin is the highest-graded non-Cameo example, but two coins are listed finer with the Cameo designation, with PR67 Cameo the finest. NGC has certified seven proofs of this date, but only one is specifically attributed as B-5, a PR65 Cameo example. These totals may contain resubmissions and crossovers.

Heritage Commentary: Quarters were struck on thicker, smaller-diameter planchets in 1831, and William Kneass made a few revisions to the design, most notably removing the scroll on the reverse in order to save room. Seven die varieties are known for the date, with six varieties listed as early as 1881 in Haseltine's Type Table, and the rare B-7 variety discovered by Walter Breen in the 1950s. Proofs were struck using four different die pairs, with most examples seen, including the present coin, representing the B-5 variety. The mintage figures were unrecorded, but PCGS CoinFacts estimates the surviving population at no more than 10-15 specimens in all grades. A roster of B-5 proofs known to us appears further down, with eight examples confirmed and a few earlier appearances that may or may not duplicate citations in the roster. This coin possesses a combination of high technical quality, intense eye appeal, and absolute rarity that is seldom offered for public competition. The discerning collector will bid accordingly.

Roster of 1831 B-5 Proof Quarters
1. PR66 PCGS. Paramount International Sales Corporation, purchased as part of a partial 1831 proof set in 1975; Auction '79 (Paramount, 7/1979), lot 154; Sixten Ehrling; David Akers; FUN Signature (Heritage, 1/2014), lot 5211.
Note from David Akers: "Sixten Ehrling (1918-2005) was a world renowned Swedish orchestra conductor, one of the last living conductors to have known both Igor Stravinsky and Jean Sibelius personally."
2. PR66 Cameo NGC. Richard Picker in the late 1950s, Norweb Collection (Bowers and Merena, 3/1988), lot 1548; FUN Signature (Heritage, 1/2009), lot 3736.
3. PR65 Cameo NGC. Possibly F.C.C. Boyd; World's Greatest Collection (Numismatic Gallery, 3/1945), lot 105; Jerome Kern; Golden Jubilee Sale (B. Max Mehl, 5/1950), lot 1416; John McNail, who assembled a partial 1831 proof set in a custom holder; ANA Convention Sale (Kagin's, 8/1977), lot 2185, as part of the assembled set; Frog Run Farm Collection (American Numismatic Rarities, 11/2004), lot 1151; Pre-Long Beach Elite Sale (Superior, 2/2005), lot 4123; Rarities Sale (Bowers and Merena, 7/2005), lot 442; Central States Signature (Heritage, 4/2009), lot 2334.
4. PR64 PCGS. Purchased by Eugene Gardner from John Dannreuther (11/2001). The present coin.
5. PR64 NGC. FUN Signature (Heritage, 1/1998), lot 6760.
6. Choice Proof. Numismatic Gallery; John Jay Pittman, purchased 7/15/1947; Pittman Collection, Part II (David Akers, 5/1998), lot 1286.
7. PR62 ANACS. Dallas Signature (Heritage, 12/2005), lot 606.
8. Proof-62. Louis E. Eliasberg, Sr. Collection, Part II (Bowers and Merena, 4/1997), lot 1399; Lindesmith Collection (Bowers and Merena, 3/2000), lot 449.

Other Appearances
A. Proof 63 SEGS. Pre-Long Beach Auction (Ira and Larry Goldberg, 2/2013), lot 1285, listed as "Ex: Mid America Sale # 523 as Proof 64, earlier from Kosoff 1946 ANA Sale Lot 430." Possibly a prooflike business strike.
B. PR62 PCGS. Club Cal Neva Sale (Superior, 9/1987), lot 1678.
C. Brilliant Proof. Peter Mougey Collection (Thomas Elder, 9/1910), lot 694; Dr. Christian Allenburger; Royal Sale (B. Max Mehl, 3/1948), lot 872; T. James Clarke; Forty-Seventh Catalog (New Netherlands, 4/1956), lot 1577.
D. Brilliant Proof. Davis-Graves Collection (Stack's, 4/1954), lot 338.
E. Brilliant Proof. Paramount FPL, Winter 1976, as part of a set (possibly the same as number 1 above).
F. Proof. Lorin G. Parmelee Collection (New York Coin & Stamp; 6/1890), lot 1006; Charles Steigerwalt. Noted as "Large Letters in legend" in the catalog.
G. Proof. Thomas Cleneay Collection (S.H. & H. Chapman, 12/1890), lot 1341. Noted as "Large Letters on reverse" in the catalog.
H. Brilliant Proof. George Earle Collection (Henry Chapman, 6/1912), lot 3067. "Large letters" noted in the description.
I. Proof. An example purchased by Ard Browning for $20 from the United States Coin Company in 1912, per Walter Breen.

Coin Index Numbers: (NGC ID# 23SB, PCGS# 5378, Greysheet# 5082)

Weight: 6.74 grams

Metal: 89.24% Silver, 10.76% Copper

View Certification Details from PCGS