1806/4 $2.50 Stars 8x5 AU53 认证号50223663, PCGS号7654

Heritage Auction Notes: 1806/4 8x5 Stars Quarter Eagle, AU53 BD-1, Good Luster Remaining 1806/4 $2 1/2 8x5 Stars, BD-1, High R.4, AU53 PCGS. CAC. Bass-Dannreuther Die State b/b. Only two 1806 quarter eagle varieties are known, both overdates, the 1806/4 with stars arranged eight and five, and the 1806/5 with stars seven and six. The 1806/4 is seen a bit more frequently than is the 1806/5, but both are elusive. The 1806/4 was created from an unused 1804-dated die, while the reverse, shared between the two 1806 varieties, was a reappearance of the 1805 reverse. The obverse die state is early for b, showing some but apparently not all of those listed in the Bass-Dannreuther reference. The strike is weak in the centers, but good luster remains over green-gold surfaces with an accent of reddish patina around the rims. A few horizontal planchet adjustment marks occur in the center of the reverse. Population: 3 in 53, 26 finer (3/23). Coin Index Numbers: (NGC ID# BFVW, Variety PCGS# 45512, Base PCGS# 7654) Weight: 4.37 grams Metal: 91.67% Gold, 8.33% Copper 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.

Ron Guth

The 1806/4 Quarter Eagle is a very rare date, with less than 100 examples known.  Most of the certified examples are found in either higher circulated grades or lower Uncirculated grades (meaning MS61 to MS63).  The very best example is a single PCGS MS64.  Even David Akers, who claimed never to have seen a legitimate Mint State 1806/4 Quarter Eagle would have loved this coin.

At least two of the known examples have a distinct cud at the top of the obverse (one of them is illustrated above).  The cud may account for the rarity of this date, since the dies would have been retired early or they would have fractured soon after the cud developed. 

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David Akers (1975/88)

The overdate is very distinct, but even without looking at the date, the 1806/4 can be easily and quickly distinguished from the 1806/5 by the arrangement of the obverse stars. On this variety, the stars are arranged 8 to the left and 5 to the right, while on the 1806/5, they are arranged 7 to the left and 6 to the right. The 1806/4 is almost always weakly struck in the centers of both the obverse and reverse, but such weak striking is characteristic of all dates of this type. Strictly mint state examples are exceedingly rare and I have never personally examined one, although a few are reported to exist.