Lot 1228
1831 $2.50 Capped Head. NGC graded Proof 64 Cameo. In NGC holder 551936-002. A needle sharp strike and full mirror Proof surface including the spaces between the stripes in the shield easily distinguish this as a true Proof. The lovely frosty devices and delicate golden highlights further adds to its cameo beauty.
Most recently offered in an ANR sale (3/2005) and described thusly: "The 1831 quarter eagle is a legendary rarity in any grade, and the offering of one is always a special occasion. In the present instance we have a piece classified by NGC as Proof-64 Cameo, the only piece at this level and with none finer. This is the famous coin from the Pittman Collection, catalogued by David W. Akers conservatively as "possible Proof-sold as a Proof in the 1948 'Memorable' sale, listed in Breen's Proof Encyclopedia, but further described as 'Very Choice Uncirculated,' but considered by some to be a Proof." Even David Akers, whose opinion we value especially highly, wasn't certain.
"Offered as Lot 1717 by David Akers in May 1998, the coin is described as Very Choice Uncirculated, but considered by some to be a Proof. Very sharply struck except for the slightest weakness where the eagle's left wing joins the shield and on the three vertical bars in the first (left) stripe. The stars are all very bold and have all of their radial lines. The fields are fully Prooflike -- this is one of those Prooflike coins that really does look like a Proof, so much so that it was catalogued and sold as a Proof in Numismatic Gallery's "Memorable" sale of 1948 where JJP purchased it. It is also listed in Walter Breen's Proof Encyclopedia as specimen No. 4, but his other pedigree information under that particular listing is incorrect since this coin did not come from the William H. Woodin sale and it did not appear later in the Grant Pierce sale. (It has remained in the Pittman Collection since 1948.) This coins was purchased by JJP on 3/2/48 from Numismatic Gallery's Sale of the "Memorable" Collection, Lot 91, for $65. Earlier, the coin was in Stack's sale of the "J.F. Bell" (Jake Shapiro) Collection in 1944, Lot 97."
No matter how you look at it, here, indeed, is one of the most memorable early quarter eagles to be sold in our lifetimes! Pop 1; the only one graded at NGC and PCGS has not graded a proof cameo of this date. (PCGS # 87686) .
Estimated Value $100,000 - 115,000.
Ex John Jay Pittman, etc.
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| Realized $126,500 |
