Lot 694
1823 Capped Bust Quarter Dollar. 3 over 2. PCGS graded AU-55. This is certainly one of the very finest known of this supremely rare date, high in the Condition Census of the top six specimens all behind the single Proof example known. The strike is extremely sharp, and this is an early die state before the crack appears right of the date up to the center dot on Liberty, as seen on a few lower grade examples, which no doubt account for the rarity of this date. Perhaps 20 are known in all grades. Breen, in his Encyclopedia, individually lists 13 examples, with just 3 that can be called EF or better. Reviewing the PCGS and NGC Population reports seems to indicate that several are known, PCGS notes 2 in AU-55, and one in AU-58, none in Mint State above while NGC shows 1 as AU-55, 1 as AU-58 and 1 as MS-61, and the sole Proof as PF-64. With the cluster of high grade specimens reported, we suspect that there may be some duplication in the two reports, and a days study with a good coin auction library would certainly nail down the number of high grade examples known once some plate matching is done from prior auction sales.
Toned a deep blue gray color, with moderate handling marks on both sides from very brief circulation. Identifiable by a small cluster of microscopic scrapes below Liberty's ear, and a few ticks between stars nine and ten, and some faint parallel scrapes above the Y of LIBERTY in the folds of the cap. On the reverse, we note some tiny marks below the wings of the eagle near the juncture with his body. Currently in PCGS holder #4664906. An extreme rarity in any grade, and especially this nice. Better than the recent sale of the Eliasberg example, this coin should have a higher technical grade, with less wear on the high points. A foremost opportunity for the Bust quarter specialist, and a date which has been offered a couple of times in the past six years.
Estimated Value $27,500-UP.
This coin is likely the same specimen from Stack's Anderson DuPont Sale, November 1954, lot 1798 or the specimen from Stack's 1976 ANA Sale, August 1976, lot 956, but it is hard to match to these early plates. It is possibly a new specimen that is otherwise unrecorded in auction history. One other possibility is the 1947 ANA (Kreisberg/Kosoff), lot 16 specimen.
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