Goldberg Coins and Collectibles



Sale 48

Pre-Long Beach Coin Auction


$2.50 Capped Bust
 
 
Lot Photo Description Realized
Lot 1355
1802/1 $2.50 Capped Bust. NGC graded MS-63. In NGC holder 1951305-017. Rarity 4, still the most "common" variety for the year. A lustrous untoned example with lovely clean surfaces and just a touch of softness in the centers as made. One of a pair of very choice Mint State 1802 quarter eagles in this sale, the coin is nicely enveloped in frosty luster. Both sides are problem free, we might add. Depositors of gold bullion in those days preferred the half eagle over the quarter eagle as being more in line with similar-sized European gold coins, and few coins of the quarter eagle denomination were issued between 1796 and 1807, hence their extremely low mintage figures. The 1802 was for many years considered to be a 2-over-1 overdate, but recent study has changed this opinion. Surprisingly choice and well detailed, and one that is on the high side for the MS63 grade. Only 3,035 pieces struck and an ideal example for a type set. Pop 15; 5 finer with 3 in 64, 2 in 65 (PCGS # 7650) .
Estimated Value $55,000 - 60,000.
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Lot 1356
1807 $2.50 Capped Bust. . BD-1. NGC graded MS-63. In this auction high grade and high quality often come together, remarkably and wonderfully so in this instance. No doubt about it, this lovely 1807 quarter eagle, the last of its type, is graded a strong MS63, and fairly so, and is one of the most attractive strikes we have ever seen on what is often a problematic year. It is virtually a model example.

On the obverse of the coin, Liberty wears a cloth hat of conical shape, supposedly the fashion of turn of the century (19th century, that is) Europe and America. Thirteen stars surround with seven stars behind, and six in front, the word LIBERTY above. The fields are very sleek, unrippled (straight as a board) and lightly Prooflike. To reiterate: all details are excellent.

The reverse shows quality above and beyond the norm, displaying the eagle's feathers, shield stripes, star points, cloud details, to good effect, with everything else the collector hopes for but is usually denied.

For the specialist in this series by dates this 1807 clearly surpasses "average" quality. We expect that it will decorate a Type Set when all is said and done. It is truly one of the most attractive we have offered. 6,812 pieces struck. Pop 3; none finer at NGC. (PCGS # 7656) .
Estimated Value $45,000 - 50,000.
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Lot 1357
1826/5 $2.50 Capped Head. . BD-1. ICG graded Details of MS-60 Cleaned. Very well struck with semi reflective fields and all lightly toned. Some light hairlines in the reverse field are well obscured by the delighful toning. A very attractive example of this coveted date, the rarest of the Capped Head Quarter Eagles and one of the classic rarities of early gold. A mere 760 were struck.

Mintages in all instances were low on this type, with the production of one year, this 1826, estimated at just 760 pieces! The business strike mintage 1821-1834 totaled 42,065, and perhaps 100 to 150 Proofs were also made. During the entire production run of the design, such coins did not circulate at par, but traded at a slight premium. While many were exported and melted abroad, it is thought that most were melted domestically.
Estimated Value $10,000 - 12,000.
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Lot 1358
1829 $2.50 Capped Head. NGC graded MS-61. Well struck and delicately toned. The surfaces are sleek and glowing with a healthy show of mellow gold color. There is no tarnish or spotting. What gladdens us most is to see a crisp rather than a dullish, smooth impression on the cap and hair curls; often weakness was left by insufficient pressure of the dies that struck these quarter eagles. (U.S. coins were minted on a hand-operated press until 1836, which created a wide variance in their sharpness.) Rare early type. The quarter eagles dated 1829 through 1834 are smaller in diameter than the 1821-27 pieces. They also have smaller letters, dates, and stars. Only 3403 minted. Pop 4: 20 finer.
Estimated Value $15,000 - 16,000.
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Realized
$17,825
Lot 1359
1831 $2.50 Capped Head. NGC graded MS-62. Mostly untoned with semi-reflective fields. The rolling-fresh finish, bright as when first issued, is awash in originality and wonderfully prooflike on this scarce Mint State example. Difficult to find. Soft-edged devices and lettering throughout the centers are typical on this issue, as commonly seen; however, a small percentage of this year's production is found with enough convincing detail to be called "sharply struck" and this is a sterling example! Only 9,520 minted. Pop 8; 26 finer. (PCGS # 7671) .
Estimated Value $18,000 - 19,000.
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Lot 1360
1832 $2.50 Capped Head. PCGS graded AU-58. Well struck with golden sunset toning and semi reflective mint luster resting in the protected areas. A lovely example of this sought-after type coin. Unstoppable historic significance rushes flamboyantly beneath the lovely highlights, while collectors may argue which date in the 1821-34 group is rarest, none will argue the point that the 1832 lives up to its reputation as a rarity. The strike is strong save for a limited area of lightness at the left side of the shield and a few wing feathers there. Only 4400 coins minted. Pop 9; 11 finer (PCGS # 7672) .
Estimated Value $9,500 - 10,000.
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Realized
$15,525
Lot 1361
1834 $2.50 Classic Head. NGC graded MS-64 Prooflike. A needle sharp strike and delicately toned. A remarkable coin loaded with eye appeal. This is, indeed, a vibrant coin soaking up the mint glow on gold surfaces with nothing to censor it from its refined MS64 grade. Soft-edged devices and lettering throughout the centers are all too often seen on this issue; however, a small percentage of this year's production is found with enough convincing detail to be called "bold" and this is one such coin!

In 1834, a ribbon binding Liberty's hair, bearing the word LIBERTY, replaced the liberty cap. The motto was omitted from the reverse. This design lasted until 1840 when a coronet and smaller head were introduced to conform with the appearance of the larger gold coins. Coins of the 1834 to 1839 vintage were struck at Philadelphia, New Orleans, Charlotte, North Carolina, and Dahlonega, Georgia. By far, the most affordable are the ones issued at the main mint in Philadelphia. Pop 5; 2 finer.

Historic note: From 1829 to 1834, explains Neil Carothers in his Fractional Money, the question of currency reform was constantly agitated. Forty years after the establishment of the mint the coinage system was a discreditable failure. There were three elements in the problem, the circulation of bank notes issued by a host of state banks of every degree of financial integrity, the disappearance of gold as the result of an adverse coinage ratio [15 to 1], and the continued circulation of a non-decimal foreign silver coinage [chiefly Spanish and Mexican] of degenerate condition. The bank note question and the problem of gold coinage were, perhaps, of the more fundamental importance, but the problem of the fractional currency was more immediately pressing and more intimately bound up with the customs and daily life of the people.

In June 1834 a coinage bill became law that altered the situation and did nothing to solve the problem of a shortage of small silver coins. This bill's effect lasted the greater part of two decades; until, that is, the gold discoveries of the California gold rush upset the gold to silver balance once more. The essential provision of the bill of 1834 reduced the weight of the standard gold dollar from 24.75 grains of fine metal to 23.2 grain. In effect, this changed the coinage ratio from 15 to 1 to 16.002 to 1. From a legal standpoint the law was a debasement of the currency by approximately 3 percent. From the standpoint of the fractional coinage it was an egregious blunder. By giving gold a higher value as coin than it could command in the arts Congress had deliberately provided for the cessation of silver coinage. It had virtually adopted the gold standard without any provision for a small change currency!
Estimated Value $14,000 - 16,000.
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Realized
$16,675
Lot 1362
1836 $2.50 Classic Head. Block 8. PCGS graded MS-64. Frosty and lightly toned. This is the desirable Block 8 variety (on another variety, a different style punch for the 8 was employed, sometimes called a script 8 or more familiarly "lazy" 8. A radiant example, fully struck with bright gold color that rises and falls in an almost rhythmic display. Even the finest, most delicate detail seen on this coin struck with uncommon exactness for the issue; were it only possibly for all the other 1836 quarter eagles in existence to be as sharp as the lettering and outer areas on this coin, but that isn't usual for this date. Pop 10; 4 finer with 3 in 65, 1 in 66 (PCGS # 97694) .

The 1834-39 design is a modification of the first Classic Head design with Liberty slightly larger in physical size. Throughout the six years this design was issued, five distinctly different styles exist for Liberty.

These coins were intended to circulate, serving their function as money. Choice and gem Mint State examples such as seen here are quite rare.
Estimated Value $13,000 - 14,000.
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Lot 1363
1836 $2.50 Classic Head. Script 8. NGC graded AU-55. Some luster evident within the devices; normal lightness of strike in some hair curls, the surface choice for this early Classic Head issue. An attractive example (PCGS # 7694) .
Estimated Value $1,500 - 1,600.
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Realized
$1,093
Lot 1364
1836 $2.50 Classic Head. Script 8. PCGS graded EF-40 PQ. Nicely toned. In an old green label holder. A scarcer early gold design, and a coin whose beauty surpasses most others in this grade. Premium Quality for the grade (PCGS # 7694) .
Estimated Value $800 - 850.
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$1,208
Lot 1365
1837 $2.50 Classic Head. NGC graded MS-60. Untoned. Only 45,080 pieces minted. Designed by William Kneass (who, by the time this 1837 quarter eagle was made had been incapacitated by a stroke), his delightful design with a curly topped Liberty was struck in the years 1834 to 1839. This is an especially charming example. It exudes mint frostiness everywhere. It has excellent detail at the hair and curls, with similar clear definition on the eagle's wings and body. About the only area of softness is found on the shield lines, elsewhere, including the legends, detail is crisp. Pop 8; 37 finer, 14 in 61, 19 in 62, 4 in 63 (PCGS # 7695) .
Estimated Value $4,000 - 4,500.
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Realized
$4,370
Lot 1366
1837 $2.50 Classic Head. NGC graded AU-55. Mostly untoned. A few light marks. Some luster remains within the hair and eagle's plumage as well as throughout the regions protected by the stars and legends. This William Kneass design was produced only in the years 1834 to 1839 (PCGS # 7695) .
Estimated Value $1,800 - 1,900.
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$1,438
Lot 1367
1838-C $2.50 Classic Head. NGC graded MS-61. In NGC holder 3093890-001. Well struck with stunning golden-sunset toning that deepens naturally about the borders. Only 7880 pieces struck. The rich toning adds significant energy to the luster of this handsome Mint State. Full frosty surface from top to bottom. Nicely struck for the date, as well; here Liberty's hair is bold and crisp, remarkably so! For its part, the reverse eagle sports crisp detail throughout its wings, neck and leg feathers, while the shield is complete in its vertical stripes with only a little merging-together of the horizontals. A highly prized rarity in grades of About Uncirculated or finer, the 1838 Charlotte Mint $2.50 was struck in limited numbers since this year saw the opening of the mint with the usual attendant problems in ramping up such an undertaking. Most of the quarter eagles struck this year went into pocket change, becoming heavily circulated, before being retrieved from circulation. No doubt the low mintage and "C" mintmark plus the association with the opening of this Mint propels the 1838-C to the forefront of quarter eagle types in Mint condition. The obverse mintmark location only occurs in 1838-C and 1839-C. A classic rarity in Mint condition and one that will serve to be a magnet for collectors from several numismatic areas, all with one thing in mind: possession of this key quarter eagle rarity.

1838-C quarter eagles have the C first punched low and touching the top of the 3 below, then repunched in a higher position. Early die state before extensive breaks occurred on the reverse. Pop 4; 6 finer in 62, 3 in 63. (PCGS # 7697) .

In 1838 the so-called Underground Railroad was in operation and provided a method for slaves in the South to escape to the North or to Canada. Clandestine way stations were set up in 14 Northern states, but activities were greatest in Ohio, which serviced a stream of slaves coming up from Kentucky. It is estimated that about 500 to 1,000 slaves escaped each year. The Anti-Slavery Society's 1838 token, AM I NOT A WOMAN & A SISTER (known by numismatists today as Low-54), was among the copper issues that achieved wide circulation. In Philadelphia on May 17 a crowd burned down Pennsylvania Hall in an attempt to stop anti-slavery meetings in the city. Pro-slavery advocates spread rumors that freed slaves would take jobs away from citizens.

In the government's continuing exploitation of Native Americans, more than 14,000 Cherokees were forced by federal troops under the command of General Winfield Scott ("Old Fuss and Feathers") to walk the "Trail of Tears" from their native territories in Alabama, Tennessee, and Georgia to a resettlement area 800 miles distant in Indian Territory west of the Red River. About 4,000 Cherokee people died en route.
Estimated Value $30,000 - 33,000.
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Lot 1368
1839-C $2.50 Classic Head. PCGS graded MS-61 PQ. In PCGS holder 08892971. A splendid example that is loaded with frosty mint luster. We note heavy recutting in the numerial 3 and a bisecting die crack from star two thru the chin. Lovely original surfaces of olive color gold and lighter highlights.

Mintmark on obverse above the date. The light yellow gold luster is still evident in the protected areas merging into warm orange shades of "old gold" toning on the topmost design and throughout much of the field, very pretty, and with indications of extra careful handling and preservation over the years. Probably the net result of loving ownership by its former admirers. Sharply struck with a wealth of detail, this scarce issue has extraordinary importance as the first quarter eagle from the newly opened Charlotte Mint. Three die varieties are described below, this example being variety C.

Rather than being an overdate, this is better described as a repunched date, in our opinion. On the present piece a tiny line or crack connects the left tip of the shield to the eagle's beak, and there are other die cracks noted as well. PCGS #08892971.

Identification of three die varieties:

A: Mintmark over left half of digit 3. Tip of branch stem over right upright of D. Usually cracked, neck to right wing.

B: Mintmark over left half of digit 3. Tip of branch stem over left edge of D. Usually cracked through E of STATES.

C: Mintmark over space between 83. Usually cracked, left shield tip to beak.

Only 18,140 struck. Pop 1; 2 in MS-62 (PCGS # 7699) .
Estimated Value $27,000 - 29,000.
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Lot 1369
1839-C $2.50 Classic Head. NGC graded MS-61. Identifiable by a tiny mark by star 10 and a faint hairline below the tip of the bust; on the reverse, a localized area of roughness below OF. The usual die breaks noted for this issue. A worthwhile Mint State by any standard, the luster is not in the least timid or yielding despite the nominal grade of MS61, while bright golden hues blossom effortlessly over both sides. The strike, like the luster, is confident, indeed, as bold as ever seen on virtually any C-mint 1839 with only marginal softness on a portion of the shield.

As we have discussed on prior occasions whenever one of these is offered, the 1839-C is the more easily obtainable of the Charlotte branch mint quarter eagles of the Classic or William Kneass-designed type. It is also the second most available C-mint quarter eagle after the 1847-C, curious to say. Yet only 18,140 pieces were produced! There is little argument that the present lovely MS61 offers a rarity that is sure to attract wide bidder interest. Pop 9; 3 finer, 2 in 62, 1 in 63 (PCGS # 7699) .
Estimated Value $27,000 - 29,000.
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Lot 1370
1839-C $2.50 Classic Head. PCGS graded AU-58. Well struck with lovely rich golden toning. We note a faint scratch near the last curl. Only 18.140 struck. Pop 8; 3 finer with 1 in 61, 2 in 62 (PCGS # 7699) .

To permit gold coins to circulate at par -- which had not happened since 1815 -- Congress reduced the authorized weight of the various denominations through the Act of June 28, 1834. On August 2, 1834, the new standard went into effect. For the quarter eagle the weight was reduced from 67 grains to 64 grains.

To readily differentiate the new coins from the old, the design was changed. Chief Engraver William Kneass created what is called the Classic Head today. The head of Liberty faces left, her hair secured by a band inscribed LIBERTY, stars circling her head, and with the date below.

The reverse depicts an eagle with a shield on its breast, perched on an olive branch and holding three arrows. UNITED STATES OF AMERICA and 2 1/2 D. surrounds. The motto E PLURIBUS UNUM, used on quarter eagles since 1796, was omitted. The diameter remained 18.2mm. This style remained in production from 1834 through 1839.
Estimated Value $16,000 - 17,000.
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Lot 1371
1839-C $2.50 Classic Head. PCGS graded AU-55. Only 18,140 pieces struck. Lovely rich golden toning on both sides. Bright and lustrous color, in fact, with some deeper shades in the protected areas. From the second year of Charlotte Mint gold operations, and the second of just two issues with this mintmark placement. The Winter book on the Charlotte Mint describes two varieties for the date, the 1839/8 overdate, and the 1839/9 repunched 9 variety; the present coin shows clear traces of repunching on the 39 in the date. Regardless of its variety attribution, we are pleased to reconfirm that it is a lively and lustrous choice About Uncirculated 55 example of one of the scarcest Classic Head quarter eagles. This attractive coin has a distinguishing bisecting die break running diagonally through the obverse and plainly visible in the photograph. Pop 27; 11 finer (PCGS # 7699) .
Estimated Value $10,000 - 12,000.
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Realized
$6,325
Lot 1372
1840-O $2.50 Liberty. NGC graded MS-60. Only 33,580 pieces minted. A really attractive early O-mint example of the Gobrecht-designed Liberty quarter eagle. This fresh, uncleaned example displays full Mint State frostiness from top to bottom, and will make a fine addition to any specialized collection of early gold. Smooth, clear fields and devices, free of marks or tarnish, and only minor (characteristic) weakness on the reverse at center. Pop 4; 13 finer, 7 in 61, 5 in 62, 1 in 63 (PCGS # 7720) .
Estimated Value $7,000 - 7,500.
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$6,900
Lot 1373
1843-C $2.50 Liberty. Small date, crosslet 4. NGC graded MS-61. In NGC holder 1874139-006. Well struck from slightly buckled dies, untoned and glittering with luster. The rarest Charlotte mint quarter eagle as only 2,988 were struck.

A splendid specimen of one of the most elusive and also most distinctive quarter eagles in the Liberty series. There is a noticeable die bulge at the point of the bust of Miss Liberty, as struck, as always seen, and no doubt this bulge led to the early demise and replacement of this die, seemingly after only a few were struck (see above). So rare is this issue that the famous Harry Bass sales offered only an AU58 example.

On this variety, the date in small numerals, all in the same size font. The logotype was punched into the die quite high, about three times closer to the neck truncation than to the dentils. The aforementioned bulge is very distinct, and likely was caused during die preparation. Walter Breen writes that the 1843-C Small Date, Crosslet 4 quarter eagles were delivered on April 28, 1843, struck from a pair of dies shipped from Philadelphia on December 23, 1842. The small date numerals are consistent with those used 1840-1842. Pop 3; 2 finer by a point (PCGS # 7729) .
Estimated Value $24,000 - 26,000.
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Lot 1374
1846 $2.50 Liberty. NGC graded MS-61 PQ. Well struck, lightly toned and in our opinion a Premium Quality coin for the grade. Creamy gold surfaces eddy and churn with almost "frothy" luster on this well preserved P-mint from 1846. Fully struck in all areas with pinpoint detailing on the tips of the feathers in the eagle's wings and legs to the ridge of hair curls above Liberty's ear and brow. Very scarce in this condition. Only 21,598 coins minted. Pop 10; 2 finer in 62. (PCGS # 7740) .
Estimated Value $7,000 - 7,500.
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$8,050
Lot 1375
1846-D $2.50 Liberty. NGC graded AU-55. Scarce lower mintage date with 19,303 struck. This piece has nice prooflike surfaces on both sides, with the strike sharpest on the outer areas but declining slightly in quality at the centers where softness occurs. A couple of tiny marks on the jaw and another below the eye. Lustrous. Pop 34; 64 finer (PCGS # 7742) .
Estimated Value $3,500 - 3,700.
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Lot 1376
1846-O $2.50 Liberty. NGC graded AU-58 CAC Approved. Untoned. Extensive luster remains on satiny and lively golden surfaces. Bright hues of gold mingle broadly with the choice preservation. An attractive AU58 that shows its bold strike clearly. Only the few areas in the centers show softness in the design. Only 62,000 minted. Pop 55; 24 finer (PCGS # 7743) .
Estimated Value $2,500 - 2,700.
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Lot 1377
1850-C $2.50 Liberty. NGC graded MS-61. In NGC holder 1293449-030. Mostly well struck in natural greenish color gold on a problem free planchet. Subdued mint luster with mottled light toning. Only 9148 pieces struck. It is a fact that the 1850-C is generally regarded as the second most common C-mint quarter eagle from the 1850s. However, what is also true is that the issue becomes increasingly scarce in the higher grades with limited numbers few Mint States known. The peripheral details on this handsome coin are much sharper than average, which means it is an example that is strongly struck. Some of the interior devices show characteristic muting, noticeable at the eagle's feathers and talons, but it is important not to overlook the fact that the reverse die used here was only activated for a portion of the '50-C production and was its first and only usage. A slight green-gold patina cover the very lightly abraded surface luster for an acceptably high grade. Pop 14; 3 finer, 2 in 62, 1 in 63 (PCGS # 7756) .
Estimated Value $12,000 - 14,000.
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Lot 1378
1850-C $2.50 Liberty. NGC graded MS-61. Well struck on a nice clean planchet. A lustrous example struck in natural greenish color gold. Only 9148 minted. It is a fact that the 1850-C is generally regarded as the second most common C-mint quarter eagle from the 1850s. However, what is also true is that the issue becomes increasingly more difficult to obtain in the higher grades with precious few Mint States available. The peripheral details on this attractive coin are sharper than average, which makes it an example that is strongly struck. Some of the interior design shows characteristic softness, however, noticeable at the eagle's legs and neck feathers, but it is important observe the fact that the reverse die used here was only activated for a portion of the '50-C production and was its first and only usage. A slight green-gold patina covers the very lightly abraded surface luster for an acceptably high grade. Pop 9; 3 in 62 (PCGS # 7756) .
Estimated Value $12,000 - 14,000.
Ex Pittman Collection.

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Lot 1379
1850-D $2.50 Liberty. NGC graded MS-61. Nicely toned. Only 12,148 pieces struck. A few areas that are softly struck, but overall freshly made and carefully stored by its former owners. Bidders who are interested in a lustrous Mint State "D" mint half eagle dare not fail to submit a bid for this. It may be months before another similar Mint State coin is offered. Pop 14; 2 finer, 1 in 62, 1in 63 (PCGS # 7757) .
Estimated Value $13,000 - 15,000.
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Lot 1380
1851-C $2.50 Liberty. NGC graded MS-61. Housed in NGC holder 5912750-004. Mostly well struck, bascially untoned with a few stray marks scattered about, none of which are too serious. Strikingly attractive throughout with no heavy abrasions present to sidetrack your enjoyment of the smooth details and bold relief. Only a few tiny contacts before Liberty's forehead. The rims, too, are free of problems. In judging the range of Charlotte and Dahlonega Mint coins, a typical grade is apt to be Very Fine or Extremely Fine. And often they are cleaned. When truly great assemblages of "C" and "D" mint gold are formed, however, then a few Mint State pieces come into play. But that is not often. Only 14,923 coins struck. Pop 9; 3 finer by a point (PCGS # 7760) .
Estimated Value $11,000 - 12,000.
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Lot 1381
1851-C $2.50 Liberty. NGC graded MS-61. Mostly well struck with enough mint luster to justify this mint state grade. We note some diagonal adjustment-like scratches across the center of the obverse. The Breen encyclopedia notes that of three pairs of dies made available for the coinage this year, just one pair is known to have been used. The date logotype is lightly impressed into die and placed far left, with tip of 1 overlapping the neck truncation. The reverse has the C mintmark high and overlapping the claw (mintmarks were added to the dies after the main device was completed). A feather vein touches lower right of C, below the opening, indicating a particularly high position. (Note: the slight haze near the date is on the photograph, not the coin, and arises from the camera lense picking up scuffing on the NGC plastic.) Only 14,923 coins struck. Pop 9; 3 finer in 62 (PCGS # 7760) .
Estimated Value $11,000 - 12,000.
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Lot 1382
1852-O $2.50 Liberty. NGC graded AU-58. Lightly toned. A frosty, generally well struck example with the distinctive O-mint luster and detail. New Orleans was a major port in the 1850s (as it still is today), with tremendous commerce between America and the rest of the world requiring a world-class mint to provide the circulating coinage. Pop 110; 31 finer (PCGS # 7766) .
Estimated Value $1,700 - 1,800.
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Lot 1383
1854-D $2.50 Liberty. PCGS graded MS-61. In PCGS holder 21485223. Boldly struck with nice frosty surfaces overlaid with pale olive and light golden-orange toning. Among the rarest coins in the Dahlonega mint quarter eagle series as only 1760 coins were minted. This wonderful specimen can only have one origin: a long ago estate or rare coin collection of early United States gold issues, because how else could it have survived in full Mint grade after more than a century and a half! And what an eye-opener for anyone familiar with the true scarcity of Mint States from the Dahlonega branch mint. The coin rocks! It is among the finest preserved, the second-highest certified, and clearly it is one of the most charming around. Sandwiched as it is between the other scarce C & D quarter eagles in the sale, this beauty will no doubt be acquired by a bidder whose own set of Liberty quarter eagles will grow and improve by its acquisition.

With so few made, nearly all reached circulation; many were either later melted or exported, leaving behind a relative few to supply the market's insatiable demand. Pop 2; 2 finer by a point (PCGS # 7771) .
Estimated Value $23,000 - 25,000.
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Realized
$23,000
Lot 1384
1859 $2.50 Liberty. NGC graded MS-65. New reverse hub and much rarer than the old reverse type. In fact, the date has the lowest mintage of the Philadelphia issues of the 1850's with only 39,364 minted for both varieties. Well struck with blazing frosty mint luster throughout. Without doubt the most visually stunning feature of this coin is its brilliant, frosted mint luster. Full swirling luster on both sides, in fact, and exquisite in its perfection. Even this condition of the luster isn't enough. The supporting strike is just as strong, with clear definition to the high points. Pop 2; None finer at NGC.
Estimated Value $10,000 - 12,000.
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Realized
$9,775
Lot 1385
1860 $2.50 Liberty. Old reverse. PCGS graded MS-62. In PCGS holder 10897669. Well struck with delicate golden-yellow toning that adds to its appeal. Many times rarer than the new hub reverse. On the old-style hub of 1840-58, the lowest arrowhead almost touches CA, and the arrowheads are long; talons closed So scarce was this variety when Breen published his all-encompassing Encyclopedia in 1988 that he described the "Type I" rev. as "Possibly exists." Apparently most 1860 P-mint quarter eagles of both varieties were melted. Pop 3; 4 finer in 64. Only 17 examples graded at PCGS for the variety (PCGS # 97791) .

The 1860 Old Reverse Quarter Eagle lay undiscovered until the 1990s. As such, it is the newest addition to the trio of rare Old Reverse issues from the 1859-1861 era.
Estimated Value $9,000 - 10,000.
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Lot 1386
1868 $2.50 Liberty. NGC graded MS-61. Well struck and lightly toned. One would be hard pressed to locate a more original Mint State 1868 quarter eagle, even if one were in technically higher numerical grade. The cleanly frosted, rotating golden surfaces, like summer sundown, provide a surge of warm mint color. Scarce low-mintage P-mint year: Only 3,600 struck. Pop 13; 2 finer in 62 (PCGS # 7807) .
Estimated Value $2,700 - 3,000.
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Lot 1387
1870-S $2.50 Liberty. NGC graded AU-58. Well struck and delicately toned with ample luster in the fields and throughout the devices to easily justify this choice, desirable grade. Scarce. Only 16,000 struck. Pop 24; 12 finer (PCGS # 7812) .
Estimated Value $1,600 - 1,700.
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Lot 1388
1872 $2.50 Liberty. NGC graded MS-62 CAC Approved. A needle sharp strike with untoned surfaces. Fresh golden color, indeed glowing with satin luster, and fully radiant with a near-perfect strike. A mere 3,000 coined. Pop 3; 3 finer by a point (PCGS # 7815) .
Estimated Value $8,000 - 9,000.
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$8,338
Lot 1389
1872 $2.50 Liberty. NGC graded MS-62. Well struck with flashy surfaces which are slightly reflective. Pleasant, almost cheery prooflike golden mirrors offset the satin frost with lots of fresh color. Only 3,000 minted. Pop 3; 3 finer in 63 (PCGS # 7815) .
Estimated Value $7,000 - 7,500.
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$7,188
Lot 1390
1879 $2.50 Liberty. NGC graded MS-62. Light golden toning over thoroughly attractive frosty luster. A well struck example with only a few light contact marks (PCGS # 7830) .
Estimated Value $325 - 350.
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$345
Lot 1391
1882 $2.50 Liberty. NGC graded MS-64. Star. A well struck beauty with one tiny mark between stars 3 and 4. Lightly toned. Swirls of golden cartwheel luster with richer texture on the devices than average for a Liberty two-and-a-half of the 1880s. Only 4,000 struck. Pop 1; 5 finer (PCGS # 7834) .
Estimated Value $4,000 - 4,500.
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$4,945
Lot 1392
1883 $2.50 Liberty. NGC graded MS-61 Prooflike. Well struck with brilliant untoned flashy surfaces throughout, the prooflike reflectivity giving contrast to the frosted device. Rare low mintage date as a mere 1,920 coins were struck. Pop 2; 6 finer with 3 in 62, 2 in 63, 1 in 64 (PCGS # 7835) .
Estimated Value $3,500 - 3,800.
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$4,025
Lot 1393
1884 $2.50 Liberty. PCGS graded Proof 65 Cameo. In PCGS holder 13132569. A stunning Gem Proof with vivid magenta toning on both sides. This gorgeous gem could bring a run-away price. Don't expect the anything in the way of a halfhearted impression left by the striking of the always-fresh Proof dies that made this piece, for we are glad to report the strength in the design is all that is expected: 100% needle-sharp detail. The luster glows. The fields resonate with smooth watery reflection. Full strong cameo contrast, too. The coin itself is noteworthy since 1884 is a scarce year as a business strike. Proofs are rarely offered for sale. You'll never suffer remorse if you bid on, and succeed in acquiring, this gorgeous Gem! Only 73 Proofs struck for this low mintage date. Pop 1; 1 finer in 66. (PCGS # 87910) .
Estimated Value $22,000 - 24,000.
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$24,150
Lot 1394
1886 $2.50 Liberty. NGC graded Proof 61. Light handling marks in the fields. Much of the mirror surface still intact on both sides; sharp stars and other details. Low mintage date as only 4,000 business trikes were make and 88 Proofs struck. Pop 1; none finer at NGC as a non cameo. Only 2 Proof examples graded by this service. (PCGS # 7912) .
Estimated Value $4,500 - 5,000.
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Lot 1395
1895 $2.50 Liberty. NGC graded Proof 66 Ultra Cameo. In NGC holder 3183528-001. An exquisite totally brilliant Ultra Cameo gem specimen! Magnificent field-to-device contrast is perhaps the first facet that a viewer sees when examining this breathtaking Gem Ultra Cameo Proof, although it is not the only one. Far from it. Deep, flashy brilliant gold color is also a praiseworthy qualification, as are sharp devices whose stark contrast improves the "cameo" illustration all the more. There is not a single carbon spot and any hairlines are so faint they disappear into the golden glow streaming off the surfaces. Again, a meaningful Gem Proof for the advanced collector to ponder carefully and bid aggressively when the decision is made to bid. Only 119 proofs struck. Pop 11; 11 finer with 3 in 66*, 5 in 67, 2 in 67*, 1 in 68* (PCGS # 7921) .
Estimated Value $22,000 - 24,000.
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Lot 1396
1896 $2.50 Liberty. PCGS graded MS-64. Well struck with nice golden toning. Flashy luster throughout. In an old green label holder. Only 19,070 were struck. Pop 101; 78 finer (PCGS # 7848) .
Estimated Value $1,150 - 1,200.
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Lot 1397
1907 $2.50 Liberty. PCGS graded Proof 62 Cameo. Faint hairlines most of which are only seen under magnification. Glittering surfaces plus cameo frosted devices. This is the final year that Liberty quarter eagles were made. Only 154 Proofs struck. Pop 1; 27 finer (PCGS # 87933) .
Estimated Value $3,000 - 3,300.
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Realized
$4,485
Lot 1398
1907 $2.50 Liberty. NGC graded MS-65. Nice golden toning. The surfaces on this handsome Gem are judged by us to be vivid gold in color, and quite lustrous, with the grade acting on behalf of its outstanding quality. All this is perhaps evident from the photos. What we need to stress also is that the design is customarily crisp and full for the issue with the usual sharp metal flows into the deepest areas of the dies on both sides (PCGS # 7859) .
Estimated Value $1,700 - 1,800.
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$1,955
Lot 1399
1908 $2.50 Indian. PCGS graded MS-63. Nicely toned. A lustrous example of the date, first year with the new Indian design (PCGS # 7939) .
Estimated Value $950 - 1,000.
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Lot 1400
1908 $2.50 Indian. PCGS graded MS-63. Nice honey color gold. The satin-like surfaces here are awash in rich natural shades, and both sides are uncommonly well made for this sometimes indifferently produced year. Some modifications were later made to sharpen the eagle, which differs slightly from the 1909-29 pieces (PCGS # 7939) .
Estimated Value $950 - 1,000.
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Lot 1401
1909 $2.50 Indian. PCGS graded MS-64. Rich golden sunset toning. From tip to toe an very choice coin that has impressive mint brilliance over spotless surfaces (PCGS # 7940) .
Estimated Value $2,500 - 2,600.
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Lot 1402
1909 $2.50 Indian. PCGS graded MS-62. Lovely orange and pale olive toning. Full glowing mint luster, the color of warm mellow gold. Especially bold strike (PCGS # 7940) .
Estimated Value $500 - 550.
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Lot 1403
1909 $2.50 Indian. NGC graded MS-61. Lustrous except for the barest hind of dullness on the cheek and top of the headband (PCGS # 7940) .
Estimated Value $250 - 275.
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Realized
$276
Lot 1404
1910 $2.50 Indian. NGC graded MS-64. Mostly untoned. Well struck with smooth, frosty luster and rich reddish-gold shades. If one were to take a poll, we'd see that the strike is up to snuff for the Indian quarter eagle issue in being sharp with the excellent metal flows on both sides into the deepest die recesses; in other words, a very bold strike (PCGS # 7941) .
Estimated Value $2,300 - 2,400.
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