Goldberg Coins and Collectibles

Sale 48

Lot 1225

1807 $2.50 Capped Bust. PCGS graded MS-65. A well struck gem on a problem-free planchet. This fantastic little treasure glitteres with intense undistrubted frosty mint luster. Sunset golden and pale olive hues further adds to its beauty. One of the most incredible offerings of an early Capped Bust quarter eagle ever seen: the Finest Known specimen, highest one graded of the entire date at either service! Precious few were coined nearly 200 years ago, and very few remain in any condition today, let alone Gem Uncirculated. To locate even a choice one is something of an undertaking.

It would be doing yourself a kindness to view this lot in person. This one can be identified by a tiny mark at the middle star just above the eagle's head plus another tiny (diagonal) mark resting on the scroll below the M of UNUM. Nicely struck on the stars and Liberty, with choice if not quite bold curls, similar on the reverse which shows the major elements strong except for some of the central relief, which is weak. No annoying hairlines from handling, no digs or further marks, free from spotting. Great luster and a rarity in any Uncirculated grade. Only 6812 minted. Here is the Finest Known specimen! Pop 1; finest graded at either service (PCGS # 7656) .

Die notes: All Capped Bust quarter eagles use the same head of 1796 with 13 stars arranged 7 + 6. Liberty with flowing hair and a turban-like cap, draped bust, large frontal curl, letters from Letter Set 1. The reverse of 1798 has 13 stars, 5 berries with a short-neck eagle, 6 vertical shield stripes with 3 lines each, 9 complete horizontal stripes with another partially complete, 1 talon on the top of the bundle of 13 arrows arranged irregularly. The reverse of 1807 is from the die used in 1805 where the stars are large (those prior are either small or medium size). Dannreuther notes that "With three early gold denominations, it seems that an intentional change to larger reverse stars was implemented in the early 1800s, starting with the eagles in 1803, the quarter eagles in 1805, and the half eagles in 1807." This date and single BD-1 die variety completes the draped bust, stars Type of quarter eagle. Although demand from the era that they were produced was limited, there were enough coins struck and interesting varieties to make this a very collectible, although difficult series.
Estimated Value $225,000 - 250,000.

Realized $276,000

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