Goldberg Coins and Collectibles

Sale 48

Lot 1229

1832 $2.50 Capped Head. . BD-1. NGC graded MS-64. In NGC holder 596102-001Well struck in natural greenish color gold with semi prooflike surfaces on both sides. Only variety of the year. Only 4,400 pieces struck. A nice deep impression with excellent detail throughout. The glittering surfaces are somewhat reflective on both sides. Some scattered light marks, none of which are worthy of mention. This impressive coin is one of the finest in existence. Furthermore, it is an amazing example of an extremely important date, among the rarest of all gold coinage Types. Both obverse and reverse have yellow reflective luster, as mentioned with soft frosty devices exhibiting strong details including full stars. Only a trace of light toning is present. The slightest weakness is noted at left side of the shield, though other than this the strike is full. Magnification reveals a pair of small chattermarks in the field below the left wing. These and the NGC serial number maybe of service when tracking the coin's provenance. Pop 1; none finer at either service. (PCGS # 7672) .

Historical note from the Heritage sale description: "This variety was cataloged as Breen-1 in his earlier monographs from the 1960s, the only quarter eagle variety of the date, and it represents the final quarter eagle variety struck at the first United States Mint building in Philadelphia. In early January of the following year, the second Mint building was finally ready for occupation, thus the coinage of 1832, from half cents through half eagles, represent the end of an important era in American numismatics. The 1833 Mint Report, submitted on January 19th of that year by Mint Director Samuel Moore recorded the mintage of 1832 quarter eagles as 4,400 coins, or $11,000 face value. Today, we estimate that about 3% of that original mintage survives, or just over 130 coins."

Until 1833, three buildings known collectively as the first Philadelphia Mint dutifully provided America with spendable hard currency to undertake the exploration and growth of a nation. Operations moved to the second Philadelphia mint in 1833 and the land housing the first mint was sold. In the late 19th or early 20th century, the property was acquired by Frank Stewart, who approached the city administrators asking them to preserve or relocate the historic buildings. With no governmental help, "Ye Olde Mint," as it used to be called, was demolished between 1907 and 1911. A small plaque now is the only thing memorializing the historic site.
Estimated Value $40,000 - 45,000.

Realized $48,875

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