1797 $2.50 MS(PCGS#7648)

The Regency Auction 49

拍卖行

Legend Rare Coin Auctions

批号

267

等级

AU53

价格

748,192

详细说明

FROM THE NAPLES COLLECTION OF EARLY GOLD PART I This is another MAJOR early quarter eagle rarity! While not as famous as the 1796 issues, the 1797 has a tiny survival rate from a tiny original mintage. Only 427 are thought to have been struck with about 20-25 examples extant in all grades—that makes it MUCH RARER than both of the 1796 issues. The rarity may be explained by the failure of the obverse die early on in striking. All known examples show a bold die crack from the rim above Y in LIBERTY, through the field, down to the rim below Star 13. Over his entire career collecting and researching early gold die varieties and die states, Harry Bass never encountered an example without this die crack, and David Akers noted that all known examples have the die break. This impressive AU53 is within the PCGS CoinFacts Condition Census, and there are just a handful graded higher at PCGS. It is important to note that precious few survive in Mint State, and going back to the auctions of the 1860s, most collections that contained an example of this rarity contained a circulated example. David Akers noted the average grade being a VF38. Light friction is seen on both sides of this delightful and classy early quarter eagle. A respectable amount of mint bloom survives in the protected recesses of the design, outlining boldly defined devices. Aside from a few microscopic ticks, obtained during its brief time in early American commercial channels, but even a strong glass fails to reveal any serious flaws, there are no lines from cleaning, no scratches, no major marks or ticks of any kind. The die crack is bold, typical of this die state, where the crack is sharp, but has not turned into a cud. There is a hint of coppery gold that clings to the peripheral elements, contrasting against the brighter yellow gold that otherwise defines this lovely coin. The eye appeal is exceptional for the issue. Only a single die pair, BD-1 was used to strike the mintage. With 20-25 known, it is listed as a Rarity-6. The early mint had a hard time with the dies, as clearly exemplified by the major die crack on the obverse. Dies that had not broken were pressed into service years later. The reverse die of this quarter eagle is a great example. Since the difference in size between the quarter eagle and dime was less than a millimeter, the reverse die was mated with a 1798/7 Draped Bust dime obverse die and continued its service. Gold coins represented a large amount of money in the early days; in fact for many people, $2.50 was a full week’s wage. Thus it comes as little wonder that quarter eagle mintages were so low in this era. PCGS 6, NGC 2. The last PCGS AU53 sold in April 2013—that was FOREVER ago! The current PCGS Price Guide value is listed at $125,000. The number of examples grading higher is miniscule and this lovely AU53 is a real prize for anyone working on a set of early quarter eagles by date. The opportunity to add an example of this rarity to your collection appears so infrequently, do not let this one pass you by! This coin has picked by our sister company for Naples (who does not recommend non CAC coins too often). They had no problems with the coin. Once sold, who knows when the next one will appear, do not let this one get away! Cert. Number 28644498 PCGS # 7648