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1840-O 25C No Drapery MS67 ★ NGC. CAC. Briggs 1-A....
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Description
1840-O Seated Liberty Quarter, MS67 ★
Short-Lived No Drapery Design
Finest Certified by Two Grade Points
1840-O 25C No Drapery MS67 ★ NGC. CAC. Briggs 1-A. Ex:
"Col." E.H.R. Green. This Christian Gobrecht No Drapery design was
only struck on quarters during three years, from 1838-1840, and it
is a tremendously popular Guide Book variety today. A
substantial mintage of 382,200 No Drapery quarters, including the
present coin, was struck at the New Orleans Mint before the design
was modified to include an extra fold of drapery under Liberty's
right (facing) elbow. It should be noted that this example is not
part of the 1982 New Orleans hoard; those coins all display dull
matte-like surfaces from being buried for 140 years. In our
opinion, the lustrous Newman coin is the most vibrant looking
1840-O 25C in existence. Most of the mintage circulated heavily in
the 19th century, when collector interest in mintmarked issues was
practically nil. As a result, the issue is seldom encountered in
high grade and Larry Briggs rates it as High R.5 in Mint State.This coin represents the Briggs 1-A variety, with a recut 8 in the date and the mintmark placed over the space between A and R in QUARTER. Seated Liberty quarter die varieties were studied at an early date, and John W. Haseltine noted this particular variety when he cataloged an example for lot 1360 in his Type Table (Haseltine, 11/1881):
"1840; No. 1; New Orleans Mint; without drapery from elbow to knee; mint mark O is over the A in 'Quar.' and slants toward the space between A and R; barely circulated."
J.N.T. Levick recorded a bid of $.62 for this lot in his annotated copy of the catalog, but we are not certain if that was the hammer price or just his bid. Recent sales of the 1840-O No Drapery quarter include the spectacular MS65 PCGS coin in lot 4206 of the Central States Signature (Heritage, 4/2013), which realized $27,025. Of course, the present MS67 ★ coin has no comparable precedent in recent auction appearances, as MS65 is the highest grade of any example in our Auction Archives.
The coin offered here is a magnificent Superb Gem with sharp definition throughout, even in the usual trouble spots like the head and upper stars. The finest for this issue. The impeccably preserved surfaces are graced by natural shades of champagne-gold, burnt-orange, cerulean-blue, and lavender-gray toning that attest to the coin's originality. Vibrant mint luster adds to the incredible eye appeal. This spectacular MS67 ★ coin represents a once-in-a-lifetime opportunity for Registry Set collectors, as neither grading service has certified any other specimen finer than MS65 (9/13).
Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman; Eric P. Newman Numismatic Education Society.(Registry values: P6)
Coin Index Numbers: (NGC ID# 23SG, PCGS# 5393, Greysheet# 5165)
Weight: 6.68 grams
Metal: 90% Silver, 10% Copper
Auction Info
2013 November 15 - 16 Selections from the Eric P. Newman Collection Part II Signature Auction - New York #1190 (go to Auction Home page)
Auction Dates
November, 2013
15th-16th
Friday-Saturday
Bids + Registered Phone Bidders: 12
Lot Tracking Activity: N/A
Page Views: 3,112
Buyer's Premium per Lot:
17.5% of the successful bid (minimum $14) per lot.
Truth Seeker: The Life of Eric P. Newman (softcover)
A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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