Lot 1883
1806 $2.50 Capped Bust. 6 over 5. NGC graded MS-63. Rich golden color combines with the original mint luster to create a visually appealing example of this extremely rare coin. PCGS has not graded any as high as MS-60 as of yet, while NGC has graded 4 in grades below this one, but this is the sole MS-63 graded, and of course, there are none graded higher. One must conclude that this is the finest graded, and quite possibly the finest known of this extremely rare date. It has long been reported that only 480 of these were coined, and with a survival rate of less than 5 percent, perhaps 25 have survived in all grades. Both NGC and PCGS have each graded 9 examples of this rare coin, for a total of 18 between them, and given some likely duplication, the actual number could be closer to 12 to 15.
This die pairing has a unique feature, both dies were used to coin 1805 quarter eagles, then when the new year rolled around, some attentive engraver took the obverse die off the shelf, punched in a large 6 over the 5, and started coining more quarter eagles! The dies are quickly identifiable by a long dentil just below the outer point of the ninth star, a faint die crack or clash mark (clouds) at the top of the 806 in the date, and a die crack from the fifth star to the tops of LIB. These cracks are also present on some 1805 examples, so it is indeed likely that the 1806 coins were struck after the 1805. In other instances the Mint coined post dated coins. On the reverse, the eleventh star (middle star on the right, just above the scroll) is boldly double punched, and the leaves touch the middle of the C and right center post of the I of AMERICA. The strike is decent, but shows minor weakness on Liberty's central hair, on the scroll and area surrounding the eagle's neck. No doubt the dies were worn by the time this one was coined, and striking quality varied from variety to variety on these.
Identifiable by a tiny scratch between the twelfth and thirteenth stars near the dentils. Currently in NGC holder #623014-001. An incredible example of this very rare coin and worthy of a king's ransom, for once it is sold, it may be off the market for many years to come.
Estimated Value $110,000 - 130,000.
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