Lot 2758
1796 $2.50 Capped Bust. Stars. PCGS graded MS-63 PQ. In a new secure plus holder. Well struck, problem-free and shimmering with semi reflective mint luster. Lovely golden-orange overtones add to its appeal. Identifiable by three small lint marks in the obverse. This is an outstanding Mint State example and a major rarity one seldom sees offered for sale. Both sides display warm orange-yellow gold surfaces with the patina noted on the high points as well as covering the field surface. The fields, as described, are prooflike on both sides. Very minor surface marks are present. What might at first be mistaken as adjustment marks are actually raised die lines visible at the upper reverse beneath several of the letters in STATES. In the 2002 Bowers sale, the lint marks are described as follows: "Most important are the several obverse lint marks, as struck. Today, these will serve as important pedigree markers. Notable among these is one that crosses Liberty's chin, just above the throat, diagonally from the right obverse field. This is a perfect match for the John Whitney Walter Collection coin, Lot 1790 in Stack's sale of that collection. This coin was cataloged by Stack's as 'Choice Brilliant Uncirculated. Possibly the Second Finest Known."
This 1796 quarter eagle type, with obverse stars, is much rarer than the other type of this year, the No Stars issue. The issue is a major rarity in Mint State condition, with just a handful of such coins known per the accompanying census. Perhaps only one or two other uncertified examples of similar caliber are known today. Only 432 struck and one of the major rarities in the Quarter Eagle series. Pop 1; none finer (PCGS # 7647) .
Diagnostics: Features of this With Stars die pair include the digit 6 extending beyond the bottom edge of the drapery on the obverse and the raised die file lines through TATE on the reverse. The 8 + 8 star arrangement on the obverse is unusual with a spacious field between star 1 and the hair curl; this caused a congested appearance of the stars on the right.
Estimated Value $200,000 - 225,000.
Ex Bowers 11/2002; earlier, Stack's Whitney Walter Collection coin, Lot 1790.
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