1804 $2.50 BD-1, 13 Star Reverse MS(PCGS#45509)

The Regency Auction 50

拍卖行

Legend Rare Coin Auctions

批号

206

等级

AU50

价格

1,122,267

详细说明

FROM THE NAPLES COLLECTION, PART II. A LEGENDARY RARITY, as John Dannreuther calls it in the Bass-Dannreuther reference on Early U.S. gold coins. Walter Breen suggested that the mintage was 1,003, but due to the fact that the survival rate is lower than the 1796 With Stars and the 1797 quarter eagles, which both had significantly lower mintages. John Dannreuther believes the mintage of the 1804 13 Star Reverse may be as low as 250 pieces. The 13 Star, cataloged as BD-1, is listed as Rarity-6+, and it is suggested that about a dozen examples are known in all grades. This is a figure that David Akers suggested in his multi-volume study of U.S. Gold Coins in 1988 and a figure that seems to hold up in all the literature and confirmed by the Population data from the grading services. This is one of the most important Red Book types in the early quarter eagle series, and often considered the most sought of all early quarter eagles by specialists. Missing from the vast majority of collections, examples usually only appear on the market when significant collections are offered. Indeed, the National Numismatic Collection at the Smithsonian Institution lacks an example, and the greatest collection of all time, the Louis E. Eliasberg Collection, legendary for its depth, scope, and completeness also did not have an example when the gold portion of his collection was auctioned by Bowers and Ruddy in 1982. This is a very eye appealing AU50. There is much retained original mint brilliance on the surfaces, belying the rich olive and orange-tinged toning that blankets both sides. The devices are exceptionally crisp and have bold definition on both Liberty's hair curls and throughout the eagle on the reverse. The wear is limited to the lightest bit of high point friction, but you can still see all the details. There are some mint made planchet adjustment marks that are visible at the lower obverse rim, and perhaps the mint worker who was filing the blank used extra force, as there are a few that are deeper on Liberty's drapery. A short nearly vertical scratch in the left obverse field will forever identify this high end AU50 as the Neumoyer-Pittman coin. When David Akers sold the John J. Pittman Collection in May 1998, this coin had "10" lightly graffitied into the right obverse field. At some point between the time it sold in the late 1990s and its appearance in the 2000 ANA auction, the graffiti was very skillfully removed. Today, close examination of both sides shows only some very minor hairlines and a few other traces of contact, none of which have any serious impact on this RARITY's glorious eye appeal. This coin has an extensive provenance that dates to the May 1960 Stack's sale of the Charles Neumoyer Collection, where it appeared as lot 2352, and it realized $620 on a $400 estimate; John J. Pittman Collection; David Aker's sale of the John J. Pittman Collection, Part II, May 1998, lot 1715; Bowers & Merena's ANA Sale of the Millenium, August 2000, lot 2045; Heritage's 2004 FUN Auction, lot 3005; Stack's Treasures of the S.S. New York Sale, July, 2009, lot 1300; Dr. James A. Ferrendelli Collection, Stack's Bowers 2014 ANA Auction, lot 11010; Heritage's June 2016 sale, lot 4771; our consignor. PCGS 2, NGC 1. Just three are graded finer. The current PCGS Price Guide value for this rarity in this grade is $225,000, but it should be noted that the Earle-Keston-Price-Pogue AU53 coin, which sold in May 2015 realized just shy of half a million dollars! This was the most recent example to sell in auction, but came to market shortly after both the above mentioned Pogue and the Amon Carter-McCoy Family AU55 sold. It has been over five years since one came up for sale, and the market for major rarities is much stronger today. The opportunity to obtain an example of this MAJOR RARITY rarely appears. Its inclusion as one of the 100 GREATEST U.S. COINS, in the Jeff Garrett and Ron Guth reference of that title, puts it on the radar of non-early gold specialists as well. We anticipate very strong bidding when this WORLD CLASS RARITY crosses the block. Do not let this opportunity pass you by. We know bidding will be intense when this coin crosses the block. All of us here at Legend wish you good luck in your bidding and a heart felt congratulations to the winning bidder as you join the rarified company of collectors fortunate enough to own an example of this important rarity. Cert. Number 40039881 PCGS # 7651