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Sale 2
Lot 1240
The Norweb 1804 Quarter. NGC graded MS-63. Browning-1. Rarity-4. Of all of the classic silver coins designed by Robert Scot, the 1804 quarter stands out as one of the most desirable. And for a variety of reasons. The 1802 half dime may be a lot rarer (as it should be, with a mintage half that of the 1804 quarter) because it was a denomination more heavily used at the time than the larger denominations--and circulation drained the half dimes almost to nonexistence. The tiny-mintage 1796 and 1797 half dollars stand alone as rarities, even though a small number of high-grade coins were put aside when the country was young. The Bust dollars, being "dollars," have been sought by an unusually broad spectrum of collectors. And the two major rarities among them, the 1794 and 1804, are almost too famous for their own good, and as a consequence are pricey beyond the means of almost all collectors.
That leaves the Bust quarters to be considered. The rare 1796, although having the smallest mintage of the series, was saved in small numbers as the first year of issue. A fair number exist in Choice and even Gem Uncirculated grades. As a one-year type, with the Small Eagle reverse, 1796 has always had a great deal of collector pressure exerted upon it. The next year of issue, 1804, sported a new, Heraldic eagle reverse, but evidently it was not saved with much relish by contemporary collectors, or even by happenstance, as it is much, much rarer than the 1796, especially in the nicer states of preservation. Then, too, it can be argued that Scot's design of Liberty--as well as his Heraldic eagle--"fit" the quarter dollar much more pleasingly than on other denominations. Neither side appears "crowded" by its design. Its images, in this size, might be said to be "perfect."
How rare is the 1804 quarter? In-the-know collectors have appreciated its rarity for decades. For others it's just a "tough" coin to find, in any grade. In reality, something on the order of a dozen coins only (perhaps less, if resubmissions play much of a role) seem to exist and have been graded by the services above the VF grade level. And as experienced collectors of America's early coinage know, most Bust coins, in all the denominations, suffer from scratches and nicks and early (if not later) cleaning problems. So, any 1804 quarter above VF, and indeed any without problems, is rare in the absolute sense.
Finally we should consider the presently offered coin, the astounding Norweb Collection piece. It is among the very finest existing of its date. It has some small surface abrasions but it is well struck and handsome. Over the years, as it resided in the Norwebs' hands, and others before theirs, it has acquired a lovely, oldtime "set" color ranging from shades of deep bluish gray to hues of pinkish gold. Where the toning is lighter, the brilliance of its luster shines through still. A small circular "spot" of planchet granularity is to be found before the U of UNITED on reverse, which will forever identify this as the famed Norweb coin. Considering how few 1804 quarters exist at this level of preservation, and how well this size coin accommodates Robert Scot's magnificent design, this coin's allure is undeniable. NGC has graded only this coin at the MS63 level to date, and none better. PCGS reports 3 MS63 coins and a single MS64.
Historical tidbit: while the Land Act of 1804 encouraged western expansion, which was to burgeon in the next four decades, the fledgling U.S. Navy sailed daringly into Tripoli harbor to recapture its frigate, called the Philadelphia.
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| Realized $43,125 |
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