1864 $2.50 MS(PCGS#7800)

The Regency Auction 42

拍卖行

Legend Rare Coin Auctions

批号

21

等级

AU58

价格

730,941

详细说明

THE BIGMO CIVIL WAR COLLECTION PART II The economic and political stresses brought on by the Civil War led to a suspension of specie payments in late 1861, which caused widespread hoarding of gold coins; mintages dropped dramatically. After producing zero circulation strike quarter eagles in 1863, the mintage increased to a miniscule original mintage of 2,824, of which fewer than two dozen (18-22 estimated) are known. This is a condition census example, tied for second highest graded at PCGS and tied for third finest overall for the date. The majority of these are circulated, with just a single MS61 graded at PCGS and NGC and a monster NGC MS67 grading finer than the presently offered AU58. Over the years, many collectors opted for a Proof striking of this date in place of a circulated one: Eliasberg only had a Proof striking; Harry Bass had coin described as "Net EF-40; sharpness of AU50 or finer, but with traces of tooling." The Norweb Collection had an "AU55." This is a very pleasing example, totally original and "crusty." Deep, rich, amber-honey gold surfaces have a richer, coppery red with glints of magenta and tangerine at the peripheries. The details are sharply struck, with just light friction seen on the highest points and in the fields. Liberty's ear is "filled in" a diagnostic for the business strikes and not a mishandled Proof striking. A glint of original luster comes through at certain angles, giving this coin a neat, almost "circ-cam" look. A thin scratch behind Liberty's bun serves as a pedigree marker. This is a remarkably RARE and important coin with just one finer at PCGS, and is tied for highest CAC approved example. On June 19, 1864, the C.S.S. Alabama engaged the Union U.S.S. Kearsarge of the port at Cherbourg, France. After spending nearly two years sailing throughout the Atlantic and Indian Oceans, as well as the Gulf of Mexico, engaging in numerous battles with Union naval ships and northern commercial ships, scorching a path that went as far east as the East Indies, and west to the Texas coast, in total burning 65 ships. On June 11, the Alabama arrived in port at Cherbourg, France hoping to put up in dry dock to make repairs after spending so much time at sea and involved in so many actions. The Kearsarge, which the Alabama was pursuing, caught up with it while in dock and eventually the battle ensued. After a prolonged and pitched battle the Kearsarge’s guns overwhelmed the Alabama and it sank into the Atlantic off the coast of France. Of the 170 crew members, 19 were killed in the battle or drowned and 21 were wounded. Most of the survivors were rescued by the Kearsarge, while a number of officers, including its commander, Captain Raphael Semmes was rescued by the private British yacht, the Deerhound. PCGS 4, NGC 2, CAC 3. This is the ONLY PCGS AU58 graded coin to ever sell in auction, realizing $79,313 in the 2017 ANA auction. The PCGS Price Guide value is $95,000 and the CAC CPG value is $90,800. Nothing finer than an XF45 has sold since, and NO Mint State coins have sold since 1996, when an NGC MS60 (presumably either one of MS61s graded) sold, and when the monster Byron Reed coin, which was called "GEM BU" and is now residing in an NGC MS67 holder. This is arguably the FINEST that will be available in the foreseeable future and should bring a near record price! Good luck! Cert. Number 81307068 PCGS # 7800.00