Lot 715
1806, 6 over 5, BD-2, Rarity-5+. PCGS graded AU-55. CAC. BD-2, Star 7x6. Premium Quality. This coin exhibits brilliant and nearly complete luster and frosty surfaces. Here is a very rare coin in any grade, an important overdate issue which is seldom found at all, let alone in this near mint state condition with a nearly 150 year continuess pedigree. This issue must have been some sort of priorty striking as the Phildelphia Mint workers took the extraordinary step of taking a hardened and previously used obverse die, in this case from the 1805 quarter eagle and reheated it, and punched a 6 over the 5 in the date, rehardened it, and put it into production. This process of taking an already hardened die that had been used to strike coins, and one with a die crack no less through the date (!) from the 1805 strikings, was a most extraordinary measure, and current research believes that only about a dozen such examples exist of reworking an already hardened die through the history of coin production at our various mints. The gist of this problem is that die steel once hardened, is not good for much else than striking coins, by reheating the hardened die, it often cracks and the steel becomes brittle and prone to die cracks and shattering. Perhaps because of the extremely limited production of the quarter eagles, this unusual process was undertaken, and here is the result. Notice the thin die crack from stars five into the tops of LI of LIBERTY, as this weakened die certainly did not have many strikes left in its future. The mintage of the 1806/5 quarter eagle is estimated to be 480 pieces, of which between 25 and 35 pieces are known today in all grades. For the few that did survive, this is a typical grade, better than some, with a touch more circulation than others. Examination of the surfaces finds little to fault, just a whisper of wear on the high points, no distracting handling marks or adjustments. Rich and attractive orange gold color thoughout and a solid strike. This coin has oas only been offered for sale three times in the past 150 years, so don't expect another opportunity to land this incredible example of this prized rarity. An exceptional example, it sure looks AU-58 to us. Pop 4; a total of 8 finer examples are graded at PCGS, the other examples are: 5 in 58, 1 in 60, 1 in 61, 1 in 62. Estimated Value $25,000 - 30,000
Ex Harold P. Newlin, Dec 31, 1885; Ex Garrett Collection, Lot 940; Ex Paramount Auction 84, Lot 856, July 25, 1984. The Americana Collection.
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| Realized $93,000 |
