Lot 1346
1838-C $2.50 Classic Head. NGC graded AU-58. Well struck with the central portions needle sharp. A wonderful example of the first Charlotte Mint quarter eagle. What's more, ample luster is evident around the devices, within, and stretching far out across the fields on both sides, with only a few light hairlines evident. After August 2, 1834, earlier gold coins continued to trade at a premium at specie and bullion dealers. The earlier, heavier issues were referred to as "old tenor" in financial journals. Examples of the P-mint 1834-39 Classic Head can be obtained readily in grades from Fine through Mint State. Branch mint coins, especially when Mint condition, are very rare. The lowest mintage of the type was registered by the first mintmark issue, the 1838-C, of which only 7,880 were struck. Pop 24; 11 finer (PCGS # 7697) .
Historic note: Two obverse dies and three reverse dies were shipped from the Philadelphia Mint to Charlotte in 1838, but it seems that only one pair of dies actually saw use. All of these dies were later destroyed (in 1843).
Estimated Value $12,000 - 13,000.
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