Lot 1692
1827. PCGS graded AU-55. Lightly toned on both sides. Only 2,800 struck. This coin is a treasure for any serious buyer of early Capped Bust U.S. gold, it has it much going for it, including a strike with only marginal weakness in the hair waves above Liberty’s brow, only minor weakness in the eagle, original gold luster still evident in quantity on obverse and reverse, bold border dentils, grand eye appeal, and more. Any example that shows original luster can be deemed unusual. Further, only 2,800 were minted, classifying it as a significant rarity. It is by no means the most valuable coin in the series, but certainly from the standpoint of desirability and Choice About Uncirculated quality it stands its ground. Pop 6; 19 finer at PCGS. About 40 to 60 examples known according to PCGS population report.
Design: Capped Head to left, stars surrounding head, date below. Reverse with perched eagle. The modified obverse introduced in 1821 now has a smaller portrait, differently styled than the preceding, and has stars completely around, rather than just to the left and right. The dies were possibly by Robert Scot, who continued as chief engraver, but likely by someone else in the Mint, identity unknown today. The main motif was adapted from that made earlier by John Reich, who worked at the mint from 1807-17 and is responsible for the one-year-only 1808 Quarter Eagle design.
Quarter Eagles of this period were made in limited quantities, there was little call for them by bullion depositors, who told the mint which denominations they required. In the 1820s, the U.S. Mint struck coins to order. Most early 1821-27 Quarter Eagles today show ample evidence of circulation with no luster.
This reverse die carries over from 1825, and was used to strike some pieces of that year. It was later used in the only die pairs identified for the issues of 1826 and 1827. Dies were clashed during the 1826 usage, and a faint remnant of that is visible in the field to the left of the eagle's beak. No other artifacts of the clash are seen.
Estimated Value $22,000 - 24,000.
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