Lot 1859
1841. PCGS graded AU-53. The 1841 quarter eagle, also known as the "Little Princess," is one of the rarest of all United States coins with just 16 examples known. Long considered a proof-only issue, the number of known circulated examples implies that an uncertain number were minted as circulation strikes. Unfortunately, mint reports failed to provide any records that business strikes were, in fact, coined at all.
For decades, there was nearly unanimous agreement that all 1841 quarter eagles were struck in the proof format -- there were no business strikes at all. There is now an ongoing debate which is of tremendous importance, even to collectors who cannot afford 1841 quarter eagles. The debate relates to the definition of a proof and whether experts can agree on the proof status of a large number of 19th century coins, including many that are not particularly expensive. In Feb. 2012, the Professional Coin Grading Service (PCGS) announced that most known 1841 quarter eagles are really business strikes, not proofs. They determined that all but four 1841 quarter eagles are "regular strikings," however, many experts remain deeply divided over this issue.
Close examination of this PCGS-certified AU-53 example shows definition similar to that seen on business strikes, not proofs. There is no evidence of a multiple series of strikes by the dies, no wire edge, and the fields are only modestly reflective, not deeply so, as would be indicative of a proof. The definition is not quite full on Liberty's hair, the eagle's neck and leg feathers. The rim is slightly rounded on each side of the coin as it intersects with the edge. Struck in bright yellow-gold with a slight reddish tinge at indirect light angles, a few minor marks have collected from its time in the channels of commerce. Traces of bright luster remain in the most protected areas of the design elements. For future pedigree identification, a pair of diagonal marks are noted to the right of the denomination on the reverse and a couple of additional marks are seen on Liberty's cheek. These are mentioned for identification purposes only, not because they detract from this coin's attractive appearance. Altogether, this is certainly a pleasing example of this classic gold rarity. The 1841 Liberty quarter eagle is listed among the 100 Greatest U.S. Coins. Pop 2; 2 finer, 1 in 58, 1 in 61.
Estimated Value $120,000 - 130,000.
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