Lot 1758
1839-C $2.50 Classic Head. NGC graded MS-61. Untoned. A small mark below Liberty's chin plus others (much less obvious) in the lightly abraded fields on either side. The surfaces are nicely toned and lustrous with just a hint of original tawny gold toning in the fields, a result of many years in an old collector's cabinet in all probability. Excellent detail can be seen with magnification. Sharply defined in the centers, the peripheral stars are also better defined than usual.
A new effigy of Liberty was produced in 1834 by Mint engraver William Kneass's choosing it for the revised quarter eagles and half eagles. The flood of gold deposits anticipated by Mint Director Moore began that summer and increased during the next two years after the government began melting earlier gold coins for recoinage. Issues of quarter eagles (beginning officially as of Aug. 1) exceeded all expectations. From then through 1839, over 910,000 came from Philadelphia bearing this design, plus a trickle (some 57,475) from the newly built Southern branches at Charlotte, North Carolina, Dahlonega, Georgia, and New Orleans, Louisiana, all with mintmark above date (1838-39). The Philadelphia total for 1834-36 alone is over 10 times the total old-tenor quarter-eagle coinage.
With such low mintage at the branch mints, one would expect the coins to be relatively rare. They are. Even in ordinary grades they are always difficult to find, though can be had for a price; however any Mint State "C" or "D" strike of this "Classic Head" gold coin is a rarity. These coins went into circulation at once and stayed there, few being saved as souvenirs. Only 18,140 minted. Pop 2; 1 in 63.
Estimated Value $27,000 - 29,000.
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