1797 $2.50 BD-1 MS(PCGS#45503)

August 2021 ANA U.S. Coins Auction

拍卖行

Stack's Bowers

批号

4166

等级

AU58

价格

1,088,378

详细说明

Underrated 1797 Quarter Eagle Rarity Among The Finest Known 1797 Capped Bust Right Quarter Eagle. BD-1, the only known dies. Rarity-6. AU-58 (PCGS). Medium yellow-gold patina dominates both sides of this outstanding rarity while golden-rose iridescence highlights the obverse peripheries and isolated areas of the reverse. Both sides display strong luster for the grade and indeed, there are glints of unadulterated reflectivity in the protected areas on the obverse. The strike is bold to sharp for the issue with just star 2 on the obverse not fully brought up. Surface quality is as smooth as could be expected for a lightly circulated pre-1834 U.S. gold coin. In terms of pedigree markers, we note a small horizontal line in the field right of star 2 extending towards Liberty's curls, a tiny vertical line in the field to the right of star 4, and a mark on the right serif of the letter A in STATES on the reverse. None of these are at all distracting, and the overall impression is one of excellence. Only one pair of dies were used to strike this unheralded rarity. The massive obverse die break stretching from the letter Y in LIBERTY all the way down past star 13 and to the rim in front of the tip of Liberty's bust likely occurred very early on; the Bass-Dannreuther reference states that no coin is presently known without this die crack and an early die state may not exist at all. That early die failure might be one of the reasons why such a limited number of quarter eagles were struck in 1797. The most often quoted production figure is all of 427 coins, though Bass-Dannreuther postulate that somewhere between 427 and 585 coins were actually delivered according to the coiner's delivery warrants. The early Mint was reticent to let a perfectly usable die go to waste: the reverse die was also used to strike the JR-1 1798/7 dime after production of quarter eagles ceased. The 1797 quarter eagle is a highly underrated rarity in any grade. Only four Mint State grading events have been recorded at both services combined; the specimen we sold in Part I of the legendary D. Brent Pogue Collection in May 2015 was certified as AU-58 and is a Condition Census coin. This specimen holds it own in comparison and is tied with the Pogue specimen for CC#4. Also like the Pogue specimen, this coin is from Die State b without the huge cud that covers several stars on the right side, a state that is so far known from only one specimen, a coin that was undoubtedly one of the very last produced. Bass-Dannreuther also allow for the possibility of Die State a, without the presence of the prominent obverse die crack, but as discussed above, none are known to exist. Perhaps 20 to 25 specimens at most of the 1797 quarter eagle remain in numismatic circles in any degree of preservation. This stunning rarity would be an incredible addition to any cabinet of early United States gold coinage and is a leading highlight of this sale. To the new owner, we give our congratulations. Provenance: From Superior's Boy's Town Sale, May 1990, lot 5419 and our (Stack's) sale of May 2006 (where this coin was the cover coin), lot 2206. PCGS Population: 3; 3 finer (MS-62 finest). PCGS# 45503. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA. Click here to see Coins in Motion.[“Coins]