Goldberg Coins and Collectibles

Sale 42

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Lot 3206

1846-C $2.50 Liberty. NGC graded AU-58. Only 4,808 minted. A nice untoned example.Typical strike with a spongy impression on the obverse and reverse. Both sides have granular luster that is clearly evident when the coin is shifted back and forth under a beam of light. Yellowish-gold color radiates from the surfaces and there are only light abrasions. A very important date from the Charlotte Mint and certainly one to acquire.

The 1846-C is a very scarce coin due to its low mintage. As with other early branch mint $2.50 gold pieces of the 1840s, high grade examples are never offered in large numbers. It is rare to see an 1846-C offered in any grade. It appears that the fire at the Charlotte Mint in 1844 that closed down the facility for a year and a half may have been behind the absence of collectible examples of this issue. Few were made; most circulated, then disappeared. The fire may be the culprit behind the rough surface from die rust seen on each side of surviving 1846-C quarter eagles. That is the opinion of noted expert, Doug Winter, who has studied the series in some detail. Winter makes a convincing case that "after the fire in July 1844, the dies lay around unused and rust accumulated on their surfaces, which of course transferred to each of the coins of this issue. We mention this so no one confuses it with post-striking damage or surface irregularities that could be avoided by shopping around for another 1846-C. Only 4-5 pieces are believed known in Mint State." Pop 10; 5 finer at NGC (PCGS # 7741) .
Estimated Value $9,000 - 10,000.

Realized $8,913

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