1927-S 25C MS65+ Full Head PCGS. CAC....

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1927-S Quarter, MS65+ Full Head
Condition Census Full Head Rarity
Sole Finest With CAC
Absolutely Stunning Eye Appeal

1927-S 25C MS65+ Full Head PCGS. CAC. If you want to know how strongly a Standing Liberty quarter collection would rank compared to all other assembled sets, you can look at the 1927-S. Is it Full Head? Is it Gem? Is it finer? How much eye appeal does it have? With an appropriate nod given to the overdate, there is perhaps no other issue in the series that is as difficult to acquire in Full Head as the 1927-S. And, very few of the Full Head pieces that do exist can be called truly beautiful. When such a coin does come on the market, it must become a bidder's top priority for that auction, as it may be years or decades before a comparable piece emerges.
It has been nearly two decades since we last handled this specific coin, and it has been 16 years since it was last documented at public auction. For a high-end Standing Liberty quarter rarity like this, that is a long time to be off the market, and it points to how tightly held the most exceptional examples of these strike rarities can be over the course of decades. Specialists of the series will find this 1927-S to be a spectacular example of the issue. Immediately obvious is the coin's intense, frosty, and brilliant-white luster that glistens beautifully across unabraded fields and well-defined devices. No obvious clashing or heavy lapping is apparent. Examining the strike, Liberty's head immediately stands out for its fullness -- no weakness at the temple, no questionable hairline, just an objectively Full Head. The stars flanking the walls are similarly well defined, as are Liberty's toes. The shield shows two weak rivets, but definition is superior that typically seen on the 1927-S. The reverse is arguably fully struck throughout, even along the leading edge of the eagle's left (facing) wing. Visually, this coin is indistinguishable from a Full Head 1929-S or 1930-S, and in fact it is sharper than many such coins we have seen. In the context of 1927-S examples, it is truly remarkable. A few tiny ticks on Liberty's leg are all that deny full Premium Gem classification, especially since the reverse alone appears almost flawless. Simply stunning for the issue.
According to information from researcher Ron Guth, there are only eight Full Head 1927-S quarters that have been publicly documented in MS65 or finer. The finest of these is an MS66+ Full Head PCGS coin that has never appeared at auction. Second finest are two MS66 Full Head PCGS coins; one of these appeared in a stack's auction in 2009, realizing $149,500, while the other was last seen in our own 2014 ANA Signature, where it realized $258,500. The fourth finest piece is the singular example offered here, the only MS65 Full Head to have a Plus designation and the finer of just two Condition Census Full Head pieces with CAC endorsement. This coin not only embodies a seemingly unheard of quality level for the 1927-S, it reflects in that very nature the quality of The Pizza Collection as a whole. In the opinion of this cataloger, the Pizza Collection's 1927-S quarter represents one of the greatest Registry collector opportunities in this entire auction. PCGS Population: 3 in 65 (1 in 65+), 4 finer (3/26).

Roster of Condition Census Full Head 1927-S Quarters
(The following roster lists every Full Head 1927-S quarter known to us in MS65 or finer at this time. Thanks to Ron Guth of the Numismatic Detective Agency for this information.)

1. MS66+FH PCGS. Prior provenance unknown.
2. MS66FH PCGS. Entlich, White Oak, Gross & St. Andre Collections (Stack's, 3/2009), lot 3851, $149,500.
3. MS66FH PCGS. CSNS Signature (Heritage, 4/2014), lot 5594, $94,000; ANA Signature (Heritage, 8/2014), lot 5578, $258,500.
4. MS65+FH PCGS. CAC. Denver Elite Auction (Superior, 8/2006), lot 197, $183,208; Encinitas Collection (Heritage, 5/2007), lot 2119, $149,500; Malibu Collection (Bowers and Merena, 11/2010), lot 1776, $149,500. The present coin.
5. MS65FH PCGS. CAC. James W. Lull Collection (Bowers and Merena, 8/2006), lot 3161, $126,500; Baltimore Auction (Bowers and Merena, 1/2008), lot 179, $161,000; FUN Platinum Night (Heritage, 1/2012), lot 3203, $218,500; Eugene H. Gardner Collection, Part II (Heritage, 10/2014), lot 98455, $176,250.
6. MS65FH PCGS. Ft. Lauderdale ANA (Superior, 3/2000), lot 377, $100,625.
7. MS65FH NGC. FUN Signature (Heritage, 1/2005), lot 30203, not sold; ANA Signature (Heritage, 8/2014), lot 5577, $76,375.
8. MS65FH NGC. Robert Moreno Collection / ANA National Money Show Auction (Bowers and Merena, 4/2005), lot 520, $87,400.(Registry values: N14284)
From The Pizza Collection.

Coin Index Numbers: (NGC ID# 243W, PCGS# 5765, Greysheet# 5598)

Metal: 90% Silver, 10% Copper
Weight: 6.25 grams
ASW: 0.20oz
Mintage: 396,000

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