The Harry W. Bass, Jr. Collection - Part II

Sharp and Lustrous 1845 $2.50

371     1845 MS-62 (PCGS). A very pleasing specimen, one with a great deal of eye appeal.

Obverse from the logotype as preceding, placed high. A crack connects stars 3 through 7.

On the reverse a crack begins at a dentil, extends through the 2 of the fraction to the eagle’s center claw above; another crack begins at the right, goes through the ornamental dot following A (AMERICA) to the branch stem. Still another crack, barely visible, connects the eagle’s wing tip to a dentil at the left, this being a stress point in the dies of this general reverse motif, as earlier observed.

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372     1845 MS-61 (PCGS). Lustrous honey gold with rose highlights. Sharply struck and aesthetically appealing for the grade.

Obverse with logotype high. Crack connects stars 3 through 6. Reverse with extensive cracks including from dentil through 2 of fraction to eagle’s center claw above; from dentil through the ornamental dot to the right of A (AMERICA) to the stem branch; from the eagle’s wing tip to dentil at upper left; and additional cracks from the border through the right of N (UNITED) to the branch, and from near the end of the branch to the E (UNITED). A further crack extends from the border to the top of the E (AMERICA). The die is virtually shattered, and could not have been employed long after this piece was struck.

Purchased from Rarcoa, September 4, 1968.

373     1845 MS-61. A very beautiful specimen with full prooflike surface on the obverse and reverse. A very early striking from lightly polished dies. Quite scarce in Mint State, although readily available in lower grades.

Obverse with date logotype very deeply impressed into the die and far too high, with the 1 touching the neck truncation for about a third of the distance along the top of the numeral. Regarding the date logotype, the 5 is at an angle, but does not seem to have been meant as a slanting or italic 5. Rather, the logotype was probably made carelessly. The identical punch was used to create dies for quarter eagles and dimes of the various mints.

Also relating to the obverse die, there are many minute parallel die striations, indicating a fairly early use. However, there is also a very delicate die crack extending from star 3 to close to star 6, indicating the die must have broken very early in its application. All in all the obverse is very interesting to study under magnification, and the longer one lingers, the more one could write.

The reverse die also has many minute striations, indicating an early impression. A tiny crack is seen extending from the branch, through the tip of the eagle’s claw, down close to the 2 in the denomination, indicating it cracked early in its application or else that this was a stress crack made when the master die was used to create the working die.

Purchased from Douglas Weaver, August 29, 1973.

374     1845 MS-60. Bright yellow gold. An attractive example, although not in the league of the foregoing.

Date logotype as preceding, with one high. Crack from star 3 through close to star 5.

The reverse is from a different die and shows a crack extending from the eagle’s claw down to the top of the 2 in the denominator, leading us to think that this was probably a stress crack made during die manufacture (especially as a somewhat similar, but differently positioned crack has been described from another die).

Purchased from Michael G. Brownlee, April 17, 1967.

375     1845 AU-58. Bright yellow gold.

Obverse from die earlier described, with logotype far too high, and with crack from star 3 extending to barely reach star 6.

On the reverse this is an advanced state of the die earlier described with a tiny crack coming down to the top of the 2 in the denominator. Now the crack is bold and extends to the border. If this crack was caused by stress during die manufacture, it created a weak spot that subsequently yielded. Two additional cracks extend from the left side of the branch, one through the right side of N (UNITED) to the border and the other to the E, connecting to the nearby D. Still another crack is seen from the border to the eagle’s wing at upper left, yet and at the right, a comparable crack is from the border to the other wing of the eagle. Another crack from the border extends to the E (AMERICA), while yet another crack extends from the border to the ornamental dot after the final A (AMERICA) to the end of the stem. Further, evidences of clashing are seen around the eagle.

From Stack’s sale of the Alto Collection, December 1970, Lot 82.

Condition Census 1845-D $2.50

Choice Mint State

Bass: "Finest Known?"

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376     1845-D MS-63 (PCGS). A prize specimen, which Harry Bass marked "finest known?" in his notes. Clearly, this piece overshadows the finest known to Douglas Winter, which was a solitary Mint State coin called "Graded MS-61 by NGC."

The Bass Collection specimen is a far above average strike, and is of bright yellow gold. The possibly unequalled grade, plus the sharpness of strike, plus the general rarity of the issue combines to make this a landmark opportunity for the Dahlonega Mint specialist.

PCGS Population: 1; none finer.

Obverse with date logotype extremely close to and possibly barely touching neck truncation, notably separated from dentil below, but still close. Logotype punched more deeply into the die at the first part of the date than toward the end. Reflective of hand processes in die making of the era. Reverse with D mintmark into arrow feather, but no traces of feather within the opening. Lower left serif of D touches 1 in denominator. Curious deep die lines above and below the eagle’s wing at the upper left, continuing through the bottom of ST (STATES). Heavy clash marks are observed around the eagle, particularly at the upper right of the shield.

From Superior’s ANA Sale, August 1975, Lot 1361. Ex American Auction Association’s Sale, Lot 999.

Popular 1845-D $2.50

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377     1845-D AU-55 (PCGS). Unusually high grade for this issue, and rare so fine. The typical example is more likely to be VF or EF, as such pieces were used extensively in commerce.

Obverse from same logotype described earlier, on the present coin punched into the working die so that the left side of the logotype is deeper than the right, resulting in the digit 1 being very prominent. On the reverse the die clashed, but lightly, with some evidences of this seen above the wing opposite the upper right corner of the shield.

From Stack’s sale of the DiBello Collection, May 1970, Lot 618.

Beautiful and Rare 1845-O $2.50

Mysteriously Missing from Mint Report

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378     1845-O AU-55 (PCGS). Pleasing light yellow gold, in keeping with the vast majority of pieces in the Bass Collection. Lustrous and with much eye appeal. A truly notable example of one of the most famous of early quarter eagles.

PCGS Population: 2; 4 finer (MS-63 finest).

The fame of the 1845-O dates from the 1890s, when the numismatic world was somewhat surprised to find that such a variety existed. The Numismatist, December 1894, included this note: "Quarter eagle pieces of 1845, New Orleans Mint, have lately been found, although no coinage that year appears in the Mint Report." Today it is believed that the coinage was 4,000, a small number by any reckoning.

The obverse is from the same logotype described earlier, but on the present coin too far left (as usual), but centered between the bust and the dentils, with the latter being cut away under the first digit to accommodate it. The base of the 1 shows slight doubling. At the left border between the first digit and star 1 are some prominent diagonal die finish lines.

On the reverse the O mintmark overlaps the feather and also is impaled by the top of the denominator. In the shield, some vertical lines are seen extending through the horizontal stripes.

From our sale of the Fairfield Collection, October 1977, Lot 1500.

Notable 1845-O Quarter Eagle

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379     1845-O AU-55 (PCGS). Another pleasing example of this scarce and historical issue. Bright yellow gold with much lustre remaining. The specialist will enjoy having this as part of his or her collection.

From the die pair earlier described, apparently the only pair used to make 1845-O quarter eagles.

Purchased from Stanley Kesselman, May 21, 1968.

Rare Mint State 1846 $2.50

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380     1846 MS-62 (PCGS). Somewhat prooflike on obverse and reverse. A splendid coin displaying a high degree of eye appeal combined with notable rarity at this grade level. Walter Breen observes, "Usually in low grade; prohibitively rare Uncirculated." He also notes that the date is from a logotype used on dimes.

PCGS Population: 2; none finer.

The date logotype is distinguished by having the 6 heavier than the other three digits, and leaning slightly to the right. The cross bar of the 4 is oriented slightly upward to the right. Some diagonal die striae are seen on the obverse and the reverse, in both instances oriented at about a 45° angle left of vertical.

In this year it was amateur night in the date logotype preparation department, and punches are several across the different denominations, sometimes short and squat with irregular numerals, other times being tall with thin numerals. There seem to be no rhyme, reason, or consistency.

From Lester Merkin’s sale of September 1967, Lot 309.

Marvelous 1846-C Quarter Eagle

The Eliasberg Coin

Finest Known

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381     1846-C MS-64 (PCGS). Brilliant yellow gold. Lustrous fields. A delicacy from the U.S. Gold Coin Collection sale, more properly described as the Eliasberg Collection sale, 1982, where the present cataloguer described it as follows:

"1846-C Obverse Select Brilliant Uncirculated, MS-63. Reverse Choice Brilliant Uncirculated, MS-65. Possibly the finest known example of this issue. Far exceeding in quality any other observed by the writer.

"The coin is desirable also from the mintage viewpoint, just 4,808 were struck, the second lowest mintage among Charlotte Mint issues of this denomination. A truly fantastic quarter eagle which will undoubtedly bring a runaway price."

The preceding said, we can all fasten our numismatic seat belts and watch for another take off! Here, indeed, is a coin for numismatic posterity.

PCGS Population: 1; none finer.

The dies of this issue, never perfect, provide an opportunity for study and commentary. The date logotype is small and is about centered. The upright of the 4 leans to the right, and the 6 does also. During the year 1846 there was a big "problem" at the Mint regarding dates, and a number of varieties were created. The present logotype must have been made by an amateur.

The surface of the die shows extensive rust marks, particularly in the lower section around the date, with a large lump in the field. Several lumps are seen in the field, the largest above star 13.

On the reverse, the C is very high and about half embedded in the branch and arrow feather. Extensive, deep, multiple clash marks are seen at the eagle, most intensely above the upper right corner of the shield. Rust is seen below the first T (STATE) and below the eagle’s wing on the left side of the coin. Die striae are evident and probably in this instance are from relapping in the shop at the Charlotte Mint, not from original die preparation.

All Charlotte and Dahlonega coins from this era are highly idiosyncratic, and multiple paragraphs could be easily written about each.

Apparently, demand for quarter eagles was fairly low at this point, as none had been struck in Charlotte in 1845, and the mintage in 1846 was quite low. Two pairs of dies were sent from Philadelphia, but it seems that just one pair was used, apparently over a period of time during the year.

During this era the denomination of choice for those depositing gold bullion at the Charlotte Mint was the half eagle, as it would continue to be through the following decade. A given amount of gold dust and nuggets could be converted to gold form more efficiently by using the $5 denomination, as only about half the work was required as compared to striking two quarter eagles for the same purpose. We reiterate that during this time there was absolutely no numismatic interest in branch mint coins, and all Charlotte gold coins passed into circulation without any notice. Many years later in the 1930s, when collecting gold coins by mintmark varieties became popular on a widespread scale, virtually all Charlotte pieces had disappeared. Not even overseas bank hoards were apt to have much in the way of Charlotte Mint gold dollars or quarter eagles; what few pieces they had were apt to be half eagles.

From our sale of the Eliasberg Collection, 1982, Lot 137. Earlier from the Clapp Collection, still earlier from the David Wilson Sale, 1907. S. H. Chapman, March 1907.

Rare 1846-C Quarter Eagle

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382     1846-C AU-50. Struck from rusted dies, as cited in the literature (e.g., Douglas Winter, Charlotte Mint Gold Coins, p. 58). Another truly memorable 1846-C. A survey of specialized collections of Charlotte Mint coins will reveal that the typically encountered grade is VF and EF. In virtually every instance, Bass Collection coins are exceptions on the high side.

On the obverse the rust is particularly prominent in the area from star 1 across the date to star 13. On the reverse the rust is lighter, and is seen in the denomination as well as below the eagle’s wing to the left.

From Abe Kosoff’s sale of the Shuford Collection, April 1968, Lot 1814.

High-Grade 1846-D Quarter Eagle

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383     1846-D Breen-6183. Doubled D. AU-58 (PCGS). A lustrous and very attractive example, among the finest seen with regard to high technical grade and excellent eye appeal. A high-grade example of an issue that is scarce in all grades, and which is almost impossible to find in Mint State. Moreover, "among other examples many have been cleaned and show hairlines" (Winter).

PCGS Population: 1; none finer.

Logotype slightly low, closer to the dentils than to the bust. Obverse and reverse with extensive clash marks, the obverse being distinguished in this regard by curved arcs in front of the neck, transferred from the eagle’s head outline on the reverse. On the reverse, the clash from the obverse is virtually complete with the entire outline of the head of Miss Liberty being visible. Cracks are seen among the letters at the border. This reverse has the Doubled D, an anomaly first discovered by Harry Bass and so noted on page 496 of Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins.

Purchased from Stanley Kesselman, May 26, 1971.

High-Grade 1846-D $2.50

Doubled D Variety

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384     1846-D Breen-6183. Doubled D. AU-55 (PCGS). Bright yellow gold. Nearly all Mint lustre still remains.

PCGS Population: 2; 1 finer (AU-58).

Obverse with date logotype deeply punched into the die, and very low, at least three or four times closer to the dentil than to the neck truncation. Last two figures lean right, as on all dies this year from this logotype.

Reverse is of the doubled style, with traces of the base of the first D visible far to the left, above the 1 in the numerator. Douglas Winter calls this the "D near D reverse." The die is not particularly scarce, but certainly is interesting. The final mintmark is to the right and leans about 20° left, itself an interesting feature. A crack extends from the border to the eagle’s wing at upper left. Another crack goes from the D (UNITED) to the lower part of the same wing. A further crack connects TES with the adjacent O. This reverse die is known only to have been used in 1846 (not saved until later years), indicating that it probably failed, and that more advanced die states exist.

From Stack’s sale of the Bareford Collection, December 1978, Lot 91.

Splendid AU 1846-D Quarter Eagle

Doubled D Variety

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385     1846-D Breen-6183. Doubled D. AU-55 (PCGS). Attractive light yellow gold. Much lustre remains.

Reverse with Doubled D. Obverse and reverse showing clash marks, including arcs in front of the neck of Miss Liberty. Some cracks link letters on the reverse.

Purchased from Michael G. Brownlee, February 23, 1967.

Satiny 1846-D $2.50

386     1846-D Breen-6183. Doubled D. AU-53 (PCGS). Finely granular "seawater Uncirculated" surfaces, quite possibly a coin that never saw actual circulation.

This is the Doubled D reverse, but on the present piece only the lower tip of the D is visible; perhaps the die was relapped. Breen mentions under the "Perfect D" variety, "a few ‘seawater Uncirculateds’ reported." The pedigree of such pieces is very elusive, no doubt as the finders of the treasure sought to realize the full extent of their gains, rather than use up any profits on litigation and contested claims.

Obverse from perfect die distinguished by a tiny raised die line from a dentil extending diagonally toward star 6. The reverse is from a nearly shattered die: Multiple cracks link D STATES OF A. Crack from border to D of denomination through D mintmark above. Crack from border to right through E (AMERICA) to feathers. Crack at the stress point connecting eagle’s wing to dentil at upper left. Close to being shattered, this die could not have lasted far beyond the production of this piece.

Purchased from Stanley Kesselman, June 30, 1967.

Another Nice 1846-D $2.50

387     1846-D Breen-6183. Doubled D. AU-53 (PCGS). Light yellow gold. Attractive overall.

Obverse with clash marks including arcs before the neck. Mark on rim at upper left, not affecting dentils, possibly due to another coin being impressed on it.

Reverse with Doubled D prominently shown. Die cracks through certain of the border letters and from the eagle’s wing tip to dentil at upper left. A close examination of the clash marks show that the dies impacted each other at least twice.

From Stack’s sale of the Alto Collection, December 1970, Lot 84.

Another Notable 1846-D $2.50

388     1846-D Breen-6184. Normal D. AU-53 (PCGS). Light yellow gold. Some lustre remains in protected areas.

Obverse from perfect die. Reverse with regular (not doubled) D. Multiple cracks link D STATES OF A. Crack from border to D of denomination through D mintmark above. Crack from border to right through E (AMERICA) to feathers. Crack at the "popular" stress point connecting eagle’s wing to dentil at upper left. Close to being shattered, this die could not have lasted far beyond the production of this piece.

Purchased from Steve Kosoff, September 4, 1968.

Remarkable 1846-O Quarter Eagle

High Condition Census

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389     1846-O MS-64 (PCGS). A typical strike, or perhaps a bit above average, for the issue, with some weakness at the centers. Deep and beautiful rich mint lustre highlights obverse and reverse. The specialist familiar with New Orleans gold of this era knows that VF and EF are standard grades, and that even MS-60 would be unusual. The present coin is a landmark, shading even the beautiful MS-60 Eliasberg Collection coin (which was the finest known to Douglas Winter when he studied the series). Here, indeed, is a treasure.

PCGS Population: 1; none finer.

Date logotype as preceding, with last two digits tilted. Deeply punched logotype, with repunching within the last digit, seemingly Breen’s "overdate," Breen-6186, described as "Repunched 4, microscopic traces of 4 within 6." Regarding this characteristic, Douglas Winter in New Orleans Mint Gold Coins: 1839-1909, comments: "It has long been claimed that an 1846/44-O overdate exists. In my opinion, such pieces are not overdates…" It probably is not necessary to state at this point that we agree, for we have not catalogued it as an overdate. What, then, is the stub under the final 6? Upon examination of this piece and also others from this logotype punch, it seems that the logotype was shifted, and a repunching occurred. There is a small line in the top of the 6 that might lead someone to think it is a diagonal from a 4, but within the base of the 6 the repunchings are all curved or circular in appearance, indicating a repunching of a 6, certainly not a 4. Related repunchings, differing in some detail, occur among other dies (but not for the just-offered 1846-D).

Further concerning the obverse, raised die lines are seen from the border beginning below star 1 and extending toward star 2.

Reverse with O mintmark high. Some die lines evident, particularly between F (OF) and eagle’s wingtip to right.

Purchased from Ed Shapiro, December 16, 1971.

390     1846-O AU-58 (PCGS). Light yellow gold. Much lustre still remaining.

PCGS Population: 6; 5 finer (MS-64 finest).

Obverse and reverse with neither cracks nor notable die-finish features.

From Stack’s sale of the Winter Collection, January 1974, Lot 508.

391     1846-O AU-58 (PCGS). Attractive light yellow gold. Much lustre is seen on both sides.

The obverse displays the logotype punched very deeply into the die, exaggerating the strength of the last two digits. Interesting die finish lines can be seen at the border near star 13. On the reverse some curious die finish roughness can be seen from F (OF) extending clockwise to above AM. Obverse and reverse perfect (no cracks).

From Stack’s sale of December 1971, Lot 795.

392     1846-O AU-55. Attractive light yellow gold.

Obverse die with logotype positioned about as preceding, but with heavy repunching around the bases of the 4, a more prominent pseudo "overdate" feature, and lacking the die finish lines near stars 1-2.

From Stack’s sale of the Scanlon Collection, October 1973, Lot 2045.

393     1846-O AU-50. Deep orange-gold lustre on medium gold surfaces.

Obverse and reverse dies identical to the MS-64 specimen offered earlier.

Purchased from Betz, June 22, 1967.

394     1846-O AU-50. Light yellow gold.

Obverse from same logotype as preceding, date about centered. Very heavily punched toward the last two digits, making them appear larger and heavier. Pseudo "overdate" features quite distinct. Much extra material is at the base of the 4. For further study the specialist may wish to see if the logotype punch was altered or changed, as the repunching seems to extend across several dies and be in the same position, but it is not seen on all dies.

Reverse with mintmark very high, and part of the arrow feather visible within the interior of the mintmark.

Purchased from D. Jensen, June 22, 1967.

Mint State 1847 $2.50

Condition Census

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395     1847 MS-62 (PCGS). Much prooflike surface on obverse and reverse, struck from highly polished dies. Some lightness of striking at eagle’s leg to left on reverse, this being usual. Noticeable die striations, possibly indicating an early impression or, alternatively, relapping, although no details seem to have been diminished. All in all an exceptional example of an issue which is plentiful in lower grades but which is almost never seen in Mint State. Another find for the connoisseur and specialist.

PCGS Population: 4; 1 finer (MS-63).

Obverse with overly large logotype, with top of first digit embedded in the bust of Miss Liberty and, double punched at the bottom, also touching a dentil. At the upper right the 7 grazes the lower part of the truncation. The logotype was casually made, and the 8 and 4 lean slightly right—the type of workmanship that Walter Breen was fond of attributing to James B. Longacre, but was probably done by some assistant. At the right border from stars 11-13 are some interesting die file marks.

On the reverse a crack bisects the die, extending from the dentils through the 1 of the fraction numerator, through the eagle, out through the wingtip at upper right to the dentils. This crack, shown at an earlier state in the AU-50 piece offered subsequently, began at the upper right border.

From Stack’s sale of the Miles Collection, October 1968, Lot 137.

Remarkable Quality 1847 $2.50

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396     1847 MS-61 (PCGS). Lustrous and frosty. Fairly sharp strike. A splendid specimen of the issue, a rarity at this grade level.

PCGS Population: 3; 5 finer (MS-63 finest).

Obverse with large date logotype, as used this year. Figures thin and widely separated, giving a rather "open" appearance and configuration. 8 leans slightly left. Logotype high on the die, with the tip of the 1 piercing the neck, and the upper right of the 7 touching it. Perfect die (no cracks).

Reverse with barely perceptible crack from border to O (OF).

From Lester Merkin’s sale of March 1969, Lot 33.

397     1847 AU-58 (PCGS). Rich gold surfaces. Somewhat prooflike on both sides. Rare at this grade level.

Obverse with first digit doubled at the bottom; top of 1 embedded in bust. Tip of 7 barely touches bust. Some die finish lines are seen at the dentils from star 11 through 13.

Reverse die perfect. Some parallel die striae seen in the usual orientation, about a 45° angle to the left of vertical.

From Lester Merkin’s sale of September 1967, Lot 311.

398     1847 AU-55. An attractive prooflike specimen. High grade for the issue.

Obverse as preceding, with logotype high and with numeral 1 double punched. Die finish lines still visible.

The reverse is from a different die, also with die finish lines (perhaps indicating an early impression). A crack is in the interior and extends from the highest leaf at the left upward to the right to the eagle’s feather, a rather unusual position.

Purchased from Jack L. Klausen, June 17, 1968.

399     1847 AU-55. Another specimen of this Philadelphia Mint issue. Not easy to find at the AU level.

Obverse with date very high, with 1 piercing the neck truncation, but with the base not punched and just barely clear of the dentils. At the upper right the 7 touches the neck truncation.

The reverse is from yet another die, not hitherto described, with prominent file marks at the upper left border to the left side of the O (OF).

From Stack’s sale of the Alto Collection, December 1970, Lot 85.

400     1847 AU-53. Light yellow gold. Partially prooflike surfaces.

Obverse from die earlier described, with first digit sharply double punched, and touching the bust above and the dentils below. Reverse from die earlier described, with interior crack from highest leaf on left to eagle’s wing.

Purchased from Stanley Kesselman, June 26, 1972.

401     1847 AU-50. A final specimen of the issue.

Obverse and reverse the same as the MS-62 specimen offered earlier. The reverse is an earlier die state, and the bisecting crack is not as prominent within the eagle and at the lower left does not yet extend to the border, stopping in the present instance at the 1 in the fraction numerator.

From Abe Kosoff’s ANA Sale, August 1968, Lot 799.

Marvelous 1847-C Quarter Eagle

High Condition Census

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402     1847-C MS-63 (PCGS). A lovely example which may well be the second or third finest known of this date and mint.

The surfaces are bright yellow gold and on obverse and reverse have many die finishing marks, indicating this is a very early impression. Well struck, which is not unheard of for the 1847-C, but which in the general context of Charlotte quarter eagles is unusual indeed. A lovely specimen that will occupy an honored position in the cabinet of its next owner.

PCGS Population: 6; 4 finer (MS-64 finest).

Obverse from standard four-digit date logotype used on the quarter eagle, with central figures leaning right. Placed high on the die, with both the 1 and the 7 piercing the outline of the neck truncation, and both figures being free of the dentils.

Reverse die aligned about 170° from the vertical, instead of the normal 180°. C mintmark high, embedded in the branch and arrow feathers. Crack from border to eagle’s wing at left; similar crack from border to eagle’s wing at right. Prominent clash marks outline the head of Miss Liberty. Raised "islands" below 1 of numerator and to the left of two of the denomination of the fraction.

Three different die pairs were shipped from Philadelphia to Charlotte for this year’s coinage, but the literature is silent as to the number of varieties actually produced. The Columbia Collection coin seems to be from the same die pair as the presently offered example, and the same can be said for the Winter illustration.

From Stack’s sale of April 1978, Lot 799.

Exceptional 1847-C Quarter Eagle

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403     1847-C AU-58 (PCGS). Light yellow gold. Much lustre is seen. Some field marks are consistent with the grade.

Obverse with date logotype high and touching portrait, as usual for the date. Reverse with mintmark placed high, impacting the branch stem. Tiny cracks extend from both wingtips to the border. Small clash mark at top of eagle’s wing to right. Some barely noticeable traces of clashing at OF. Dies from a fairly early unrusted state.

From Stack’s sale of the DiBello Collection, May 1970, Lot 1624.

Attractive 1847-C Quarter Eagle

404     1847-C AU-55 (PCGS). Light yellow gold. A pleasing example of the issue, far finer than usually seen.

Obverse with logotype high as usual, same die as preceding. Reverse with light evidences of rust at fraction and elsewhere; some minor traces of clashing. Small crack from eagle’s wing to dentil at upper left.

Purchased from N.K.S. on April 28, 1967, then to Abner Kreisberg, acquired by Harry Bass via swap on March 30, 1973.

Stunning 1847-D Quarter Eagle

Tied for Finest Known

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405     1847-D MS-64 (PCGS). Bright yellow gold. Somewhat prooflike at the centers. Exceedingly sharply struck. A stunning specimen, tied for the finest known, quite possibly the finest known (a comparison of the two contenders side by side would be needed to confirm this). Douglas Winter makes note of another MS-64 piece graded by PCGS, his plate coin.

From the original mintage of 15,784 pieces, several hundred examples are believed to exist, nearly all of which are centered in and about the VF category, some reaching to EF and others to AU, but only rarely to even MS-60.

PCGS Population: 2; none finer.

Obverse with date logotype high, with 1 and 7 piercing the neck truncations and both free from the dentils. Many raised die finish lines are evident, one particularly prominent line connecting stars 2-3 and approaching star 4. Faint traces of clash marks are seen before and after the neck.

On the reverse the D is very high, with the interior 50% filled with evidence of the arrow feathers. Many prominent raised finish lines, especially at the upper left. Very slight clash marks are visible at the eagle’s wing at the upper right corner of the shield. Seemingly a fairly early striking.

Purchased from Stanley Kesselman; earlier from Stack’s sale of the DiBello Collection, Lot 139.

Rare 1847-D Quarter Eagle

406     1847-D AU-53. Lustrous light yellow gold. A very pleasing example.

Obverse and reverse dies as preceding.

Purchased from Jack L. Klausen, date not stated.

Highly Important 1847-O

Tied for Finest Graded by PCGS

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407     1847-O MS-63 (PCGS). Highly lustrous honey gold surfaces. A rarity in Mint State despite its sizeable mintage of 124,000 pieces. Winter called this date Mid-Rarity-6 in Uncirculated; the preponderance of Mint State specimens of this date are in lower grades than the choice Mint State coin offered here. A copper spot is noted at the 2 in the denomination. Some central striking weakness is seen, typical for this date. The final New Orleans issue in the denomination until 1850. A condition rarity that will elicit strong bids.

PCGS Population: 2; none finer.

Date logotype too far left, with top of 1 touching neck truncation and lower left serif of 1 (which is repunched at top) deeply into a dentil. This is Breen’s 6194. That writer noted that the first piece was described in the New Netherlands sale of the Gaskill Collection, Sale 48, Lot 249. At the upper right, the 7 touches the neck truncation, while the bottom of the 7 does not touch a dentil, simply because the dentils have been shortened at this point. On all quarter eagle dies of this year, the date logotype was simply too large for use on the quarter eagle. Prominent die lines are seen in several places, including at the border immediately to the left of the date, and between star 13 and the neck. On the reverse the O mintmark is fairly high and distant from the 1 in the fraction numerator, with the bottom point of the arrow feather extending downward into the inner space. Some very light clash marks are evident, particularly on the eagle’s wing far above the top arrow. Barest trace of a die crack is seen from the borders through star 7 to the head.

Purchased from John N. Rowe, III, August 24, 1966.

408     1847-O AU-55. Light yellow gold. Much mint lustre still remains. A high-grade example of this scarce issue.

Date logotype high, with first and last digits piercing the neck truncation and with their bases slightly clear of the dentils. Prominent crack from border through star 11 to hair bun.

Reverse with mintmark into arrow feather, and with just a wisp of the feather showing at the upper right of the interior. The O is close to but clear of the 1 in the numerator. Subliminal traces of die crack, possibly from stress, to right of D in denomination extending to ornamental dot.

From Superior’s sale of the Davenport Collection, February 1977, Lot 697; earlier from the Charles Ruby III Sale, Lot 1013.

409     1847-O AU-50. Light yellow gold. Much lustre is still seen, particularly on the reverse.

Obverse with date high, piercing the neck truncation; lower left of 1 barely touches a dentil. A different die from those thus far described. Subtle traces of a clash mark from the eagle’s wing are seen in the field close to the head of Miss Liberty opposite star 12.

On the reverse the O mintmark is clear at its center, save for the most tiny nuance at the upper right; at the lower left the outside of the mintmark touches the numerator. Heavy diagonal die lines are seen through the branch and UNI (UNITED).

Purchased from Dean Oakes, A & A Coins, September 4, 1968.

410     1847-O AU-50. Another example of this New Orleans issue, one that is fairly scarce in higher grades.

Die described earlier, Breen’s Doubled Date, No. 6194. Somewhat later die state, now with crack from border through star 7 more prominent.

Reverse die oriented about 340° from the obverse, or close to being parallel.

Mintmark high, close to but not touching 1 of numerator; center of mintmark clear save for the barest nuance of a feather at the upper right interior.

From Stack’s sale of the Miles Collection, October 1968, Lot 140.

411     1847-O EF-45. A highly affordable and somewhat more regularly encountered grade.

Date high and piercing neck truncation, barely clear of dentils. The date is lightly repunched, with traces of the earlier figures visible at the bases. Prominent crack at right border through star 11 to head. Reverse with mintmark high, close to but not touching 1 of numerator, barest wisp of arrow feather at interior upper right.

From Stack’s sale of the Shapero Collection, October 1971, Lot 789.

412     1847-O EF-45. A final example of this date. Obviously, Harry liked to hoard 1847-O quarter eagles. No doubt he hoped someday to make many notations concerning minute die differences.

Obverse is Breen’s Doubled Die as earlier described. Barest trace of crack from border through star 7 to head. Reverse with O distant from numerator, and with triangular section of arrow feather protruding from upper right of interior, the same die pair as the MS-63 specimen earlier offered.

Purchased from Stanley Kesselman, March 15, 1973.

Extraordinary 1848 $2.50

Condition Census Quality

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413     1848 MS-63 (PCGS). Obverse highly prooflike, an early striking with die striae visible. Reverse is somewhat prooflike with die striae in about a 45° angle from upper left to lower right. Probably a very early striking from this pair.

With a mintage of 7,497, the 1848 quarter eagle has long been recognized as scarce. Walter Breen described the elusive quality of the issue as follows: "Touted as a rarity since about 1958, when J.F. Bell circulated want lists including this date; dealers found none in stock, and the hunt was on. Survivors were usually VF to EF, extremely rare AU."

"Touted" or otherwise, the 1848 is, indeed rare and, as is true of so many quarter eagles of this era, its elusive quality is mainly known to dealers and specialists. The 1848 CAL. counterstamp (not offered in the present sale) has swiped nearly all of the limelight for this date, and whenever an example crosses the block it creates a lot of attention. However, it is true that in MS-63 grade, the 1848 without the counterstamp is rarer!

All of this said, the present piece will no doubt attract enthusiastic bidding when it comes up on the auction block.

PCGS Population: 2; none finer.

Date logotype better made this year, with figures well spaced and not leaning. On the present coin the logotype is too far left, with the tip of the 1 embedded in the neck truncation; final figure clear of the truncation and all figures clear of the dentils.

From Quality Sales Corporation’s sale of March 1972, Lot 1165.

Wonderful 1848-C $2.50

High Condition Census

Almost Unbelievable Die State

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414     1848-C MS-61 (PCGS). From severely buckled obverse die, almost rendering it unusual—a very fascinating, indeed almost unbelievable die state which the quarter eagle specialist should view for educational purposes, even if he or she is not a serious bidder.

PCGS Population: 3, none finer.

This was a particularly highly prized piece in Harry Bass’ collection, it being a combination of high quality and, per his notes, which were underlined, 1st SEEN.

Struck in light yellow gold. A landmark because of its die state, but to a wider audience, important because of its high grade. In his reference on the series Douglas Winter listed only two pieces that he considered to be Mint State, with the notation that both listings might have referred to the same coin!

The mintage of 1848-C, which amounted to 16,788, might indicate that a handful of Mint State pieces are in numismatic hands—or at least should be. However, they are not. A little mystery.

Obverse with date high and to the left, the 1 embedded in the neck truncation; 8 clear of neck truncation and no figures touching the dentils. Die dramatically and almost impossibly buckled, so much so that we have never seen an equivalent in the quarter eagle series.

On the reverse the C mintmark is high and embedded in the arrow feather and branch. A crack extends from the border to the eagle’s wing at upper left.

Purchased from Julian Leidman; earlier from Kagin’s sale of November 1973, Lot 1551.

Pleasing and Rare 1848-C $2.50

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415     1848-C AU-58 (PCGS). Bright yellow gold consistent with the appearance of most issues of the Charlotte Mint. Very well struck. An exceptional specimen, especially in view of Douglas Winter’s comments, "Many pieces are particularly soft at the center, the stars, the hair above Miss Liberty’s forehead." Moreover, according to the same writer, "The typical 1848-C is characterized by an uneven strike." None of these comments apply to the remarkable coin offered here.

PCGS Population: 2; 4 finer (MS-61 finest).

Obverse with date logotype high (too far left) with top of 1 piercing the outline of the bust. Some die finish lines are seen at the dentils near star 13.

The reverse die is perfect except for a tiny crack located—where else?—at the wing tip connecting to a dentil at the upper left.

Purchased from N.K.S., September 20, 1970, apparently in a trade transaction.

High-Grade 1848-D $2.50

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416     1848-D AU-58 (PCGS), or possibly even finer (in the cataloguer’s view). Well struck and bold in all aspects. Bright yellow gold. A very pleasing specimen of an issue which when seen is usually in lower grades.

Date logotype far left with 1 piercing the neck truncation, base of 1 close to but not touching dentil. Reverse with D mintmark high, and about 50% of the interior covered by the arrow feather which extends diagonally into it.

The obverse and reverse dies both seem to be highly dished (basined).

Purchased from Julian Leidman, December 6, 1971.

Important 1848-D Quarter Eagle

417     1848-D AU-55 (PCGS). Rich deep yellow gold. Well struck overall, not highly unusual as such, but certainly nice to contemplate (most later Dahlonega issues are softly struck). Lustre is still seen in protected areas.

Date logotype high as usual. Obverse and reverse dies perfect.

From Stack’s sale of the Shapero Collection, October 1971, Lot 794.

High-Grade 1848-D $2.50

418     1848-D AU-55 (PCGS). Medium yellow gold. Somewhat prooflike, especially on the obverse. Another specimen of this popular and elusive Dahlonega issue.

Date logotype high as usual. Obverse die shows clash marks under chin and at neck. Reverse die perfect.

From Quality Sales Corporation’s sale of November 1970, Lot 1556.

Exceptional 1849 Quarter Eagle

Elegant Mint State

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419     1849 MS-62 (PCGS). A splendid coin, elegant, and quite rare at this grade level. The obverse is an exquisite strike, while the reverse has some lightness at the eagle’s leg on the left.

Date logotype small this year, permitting easy placement between the bust and the dentils, in the present instance too low, however. Some minor repunching.

On the obverse there are die preparation lines at the dentils below the date. Obverse and reverse dies are perfect (no cracks).

420     1849 AU-58. Bright yellow gold. Small dig to left of first date digit. An exceptionally high-grade example of an issue which is usually seen in much lower grades.

Date logotype small this year, neatly fitting into the die. Positioned low, about three times closer to a dentil than to the neck truncation above. 8, 4, and 9 repunched, with the loop of the 9 closed, causing some to call this die the "1849/8," although even Walter Breen (who is usually very liberal on such matters) states: " ‘The 1849/8’ has not been confirmed; openings within 49 are almost never completely clear."

On the reverse a centering punch dot is seen at the top of the third vertical open "white" strip.

Purchased from Stanley Kesselman, August 5, 1968.

421     1849 AU-55. Bright yellow gold, somewhat prooflike.

Dies as preceding.

Purchased from Rarcoa, June 25, 1968.

World-Class 1849-C $2.50

Finest Graded by PCGS

An Underappreciated Rarity

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422     1849-C MS-62 (PCGS). Bright iridescent yellow gold with a touch of olive toning. Decidedly prooflike in the fields, with frosty cameo contrast provided by the devices. Choice for the grade. A superb specimen, far finer than usually seen. David Akers called this date "One of the rarest C-Mint quarter eagles, particularly in high grade." Walter Breen wrote, "Usually VF to EF, prohibitively rare AU." Douglas Winter called the date "Unknown" in Mint State. Accordingly, perhaps a beautiful Mint State specimen is impossibly rare, or perhaps even unique.

PCGS Population: 1; none finer.

Of this issue, 10,220 were minted, and it seems that just about all went into circulation, seeing considerable use and becoming extensively worn in the process. The exact story of the present piece is not known, but its very special quality indicates that it was preserved with care, unlike the vast majority of its brethren.

From Stack’s sale of May 1968, Lot 712.

Remarkable 1849-D Quarter Eagle

Tied for Finest Known

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423     1849-D MS-61 (PCGS). Warm medium gold surfaces. Highly lustrous. Very well struck on obverse and reverse, notable as such. A superb piece which at this level is an extreme rarity. Douglas Winter, in his excellent Gold Coins of the Dahlonega Mint 1838-1861, seems to have forgotten the Fairfield coin in his enumeration, as he states that just a single Mint State piece is known to him, but not this example. (The Fairfield Collection was noted elsewhere by Winter; however, this is not surprising, as overlooking things is easy enough to do—we have done it many times ourselves.) In any event, the specialist in quarter eagles, particularly examples from the Dahlonega Mint, may have to look for many years to find a rival to the present piece. It is worth noting that the remarkable coin offered as part of our Columbia Collection last year checked in at AU-50.

PCGS Population: 2; none finer.

Following several years of relatively high (in the context of the Dahlonega Mint) production, the quantities for the 1849-D quarter eagle were more modest. Three die pairs were on hand in Dahlonega, but how many die varieties exist has not been researched. As a class, 1849-D $2.50 pieces are elusive in all grades. The total population is probably somewhere on the order of a few hundred pieces, with VF and EF being about the median grade, AU pieces being quite scarce (population figures do not reflect this, as fewer lower grade pieces are certified, thus making AU pieces appear more plentiful than they are), and regarding Mint State, we reiterate that it seems that but two pieces have been certified.

Date logotype left and high, about twice as close to the neck truncation as to the dentils. Repunching at the first date digit is more noticeable under high magnification. The star points are exceedingly close to the dentils, a subject not addressed widely in numismatic literature and perhaps a fruitful avenue of search for Craig Sholley, Dr. John McCloskey, and others interested in the minute technical differences among dies of this period.

Reverse mintmark high, with interior about half filled with a diagonal portion of the arrow feather.

From our sale of the Fairfield Collection, October 1977, Lot 1518, to the Goliad Corporation, to Harry Bass.

Exceptional 1849-D Quarter Eagle

High-Level AU

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424     1849-D AU-58 (PCGS). Bright yellow gold. Sharply struck and very beautiful. A truly outstanding specimen the equal of which is seldom seen. Another marvelous opportunity for the connoisseur and specialist.

PCGS Population: 8; 2 finer (MS-61 finest).

Dies as preceding.

Purchased from Superior, March 1978.

Mint State 1850 Quarter Eagle

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425     1850 MS-64 (PCGS). A splendid specimen with very plane fields (virtually no basining). Were it not for a mark below the fourth star, the grade would be a notch or two higher. Sharply struck on obverse and reverse save for the eagle’s leg to the left.

PCGS Population: 2; none finer.

Date logotype in thin numerals (Breen’s nomenclature), due to the logotype being impressed fairly lightly into the working die. Digit 1 closer to dentils than to neck. The obverse die was highly polished, removing many striae or finish marks. Thus, the obverse has the aspect of a presentation piece.

The reverse was not polished, and displays extensive striae in the expected orientation, about 45° angle to the vertical, extending from upper left to lower right. No doubt this is a very early impression from the dies, as the devices are particularly bold.

Purchased from Stanley Kesselman, April 28, 1967.

Pleasing Mint State 1850 $2.50

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426     1850 MS-64 (PCGS). A splendid coin with lustrous, satiny frost. Extremely well struck on obverse and reverse, unusually so. A notable coin that will be highly appreciated by the connoisseur.

PCGS Population: 2; none finer.

Four-digit date logotype fairly deeply impressed into the die. Numeral 1 ever so closer to the neck than to a dentil.

Obverse and reverse from perfect dies.

Purchased from Stanley Kesselman, September 19, 1973.

427     1850 MS-61. Light yellow gold, probably from California metal. An unusually high-grade example.

Obverse with date logotype lightly impressed into the die, Breen’s "thin numerals" variety, No. 6205. Logotype about twice as close to neck truncation as to dentils. The fourth digit, 0, is distant from the neck and very close to a dentil.

Reverse die possibly relapped (per Breen), in any event with prooflike surface within the shield stripes, and lowest arrow not touching the second A (AMERICA).

Using Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins as a foundation, and building upon the excellent work done by Douglas Winter and others who have studied gold die varieties, it might be interesting to create a specialized catalogue for enthusiasts in the series. It would seem to us that varieties should be sorted or delineated in order of numismatic importance (an aspect which, admittedly, can differ from one person to another). A basic date and mintmark would be the first listing, this a given. Overdates would constitute special listings as well. Beyond that, minor, but still interesting varieties would consist of such things as repunched and misplaced dates, repunched mintmarks, dates far out of position, mintmarks leaning crazily to the left or right, etc. Our own preference is that such distinctions as "thin numerals" and "thick numerals," which are typically the result of impression of a logotype into the working die or, sometimes relapping, as not as important as basic differences produced when the dies were first created. Similarly, clash marks and die cracks, while of importance in tracing die pairings and progressions, are of only subsidiary importance (however, sometimes in the American series they become very prominent in listings, such as the famous 1800 AMERICAI silver dollar, which is but a die flaw or break, not an intended variety; several other similar situations could be mentioned). The Gobrecht Journal, organ of the Liberty Seated Collectors Club, has a title which could well include Liberty Head coins as well as Liberty Seated coins, that we suppose the club would have to change its name!

From Stack’s Metropolitan Sale, May 1968, Lot 714.

428     1850 AU-58. Light yellow gold.

Die pair as preceding.

Purchased from Jack L. Klausen, June 19, 1968.

429     1850 AU-55. Yellow gold.

Obverse from a different die, date far left, with 1 about equidistant from dentils and neck.

Reverse from a different die showing a centering dot at the top of the third "white" vertical stripe.

From Michael G. Brownlee, April 18, 1967, earlier from Leo A. Young.

Marvelous 1850-C Quarter Eagle

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430     1850-C AU-58 (PCGS). Bright yellow gold surfaces show much prooflike reflectivity. Some lightness of strike is noted near the centers, as typical for this date. From a small mintage of 9,148 pieces, with the bulk of today’s known specimens typically VF or so. "Generally underrated as a rarity," wrote David Akers. A marvelous specimen, a far higher grade than usually seen. Another splendid piece which represents the finest that Harry Bass was able to acquire. Walter Breen notes "Extremely rare in AU or above." Another grand opportunity for the Charlotte specialist.

PCGS Population: 4; 2 finer (MS-62 finest).

Date logotype well centered between the bust and dentils, given the small amount of clearance available. A tiny blob at lower left bottom of 5. Several prominent diagonal die lines from border at star 12.

The reverse die, also employed in 1849, features the C mintmark high, with the top blended in with the details of the design. Upon very close inspection some die finish lines are seen in a near vertical orientation (an unusual alignment).

Purchased from Mal Varner, February 28, 1972.

High-Grade 1850-C $2.50 Rarity

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431     1850-C AU-55 (PCGS). A splendid specimen in medium yellow gold with some delicate splashes of toning. Quite well struck for the issue, although, as always, there is some lightness of detail on the eagle’s leg to the left.

From the same dies as the proceeding lot.

Purchased from N.K.S., April 28, 1967.

Superb 1850-D Quarter Eagle

Seldom-Seen Quality

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432     1850-D AU-58 (PCGS). Lustrous honey gold with considerable brilliance in the protected areas. Better struck than typically encountered for the date, with exceptional obverse details and fairly strong reverse details as well. Struck from lightly clashed dies. A superb specimen, the finest that Harry Bass was able to locate in three decades of searching—which says much. Just 12,148 examples of the date were struck, and the typical specimen extant today is EF or lower in grade. "Extremely rare in AU," notes Walter Breen, a comment that would also include lower range AU pieces (such as AU-50, AU-53, and even the next following lot, which is an AU-55).

PCGS Population: 7; 2 finer (MS-62 finest).

Although three pairs of dies were shipped to Dahlonega, only one die pair has been identified. Obverse with date far too high and left, piercing the neck of Miss Liberty and distant from the dentils. On the reverse the center of the D mintmark is about 50% occupied by a diagonal part of the arrow feather. Some raised die marks are seen at the tip of the lowest arrow.

Purchased from Arizona Stamp & Coin, November 14, 1969.

Beautiful 1850-D $2.50 Rarity

The Eliasberg Coin

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433     1850-D AU-55 (PCGS). Fairly well struck overall save for the seemingly definitive lightness on the eagle’s leg to the left. Warm medium yellow gold. Tiny nick or cut on reverse rim above I (UNITED).

Obverse with date logotype high and with peak of 1 piercing the neck truncation. Dentils somewhat lightly impressed below the date, as sometimes seen; interesting "pinch" on the flat rim, outside the dentils and opposite the space between stars 3 and 4. Perfect dies (no cracks).

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 153. Formerly from the Clapp Collection. Still earlier from B. Max Mehl’s sale of the James Ten Eyck Collection, May 1922.

434     1850-D EF-45. Light yellow gold. Much mint lustre still remains. An attractive example of this elusive Dahlonega variety.

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 1838.

Important 1850-O Quarter Eagle

The Eliasberg Specimen

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435     1850-O MS-63. Lustrous orange-gold with a decided olive blush. Some lightness of strike on the reverse, typical for the date. A few faint hairlines and an obverse edge bruise at 10:00 are noted for accuracy. The mintage of the 1850-O quarter eagle totaled 84,000 pieces, but none were saved for numismatic considerations, and today even a nice AU coin can be considered a rarity. Note the comments from Douglas Winter reprinted under Lot 438 below. The present piece represents an opportunity that will be recalled for a long time. From the cabinet of Louis E. Eliasberg, Sr., to that of Harry W. Bass, Jr., and then to yours; one strong bid, and your name is added to the illustrious pedigree chain of this important coin.

PCGS Population: 2; none finer.

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 155.

Another Notable 1850-O $2.50

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436     1850-O MS-61 (PCGS). Medium yellow gold surfaces. Much prooflike character, especially on the obverse, but also on the reverse, especially near the border. Nearly fully struck in all areas, including the center, an exception to Walter Breen’s "Always weak in centers" rule. A delightful New Orleans rarity that combines high grade and excellent eye appeal.

PCGS Population: 2; 4 finer (MS-63 finest).

Date logotype fairly well centered.

Reverse with tiny crack from rim through 2 of denomination.

From Paramount’s sale of November 1971, Lot 1009.

A Further Great 1850-O $2.50

437     1850-O AU-58 (PCGS). An attractive specimen retaining much original lustre. An above-average strike, but showing some usual lightness, especially on the eagle’s leg to the left.

Date logotype well centered. Perfect dies.

From Stack’s Metropolitan Sale, May 1968, Lot 717.

438     1850-O AU-50. Pleasing yellow gold. A nice example of the date, mint, and grade. "It is probably the most underrated New Orleans quarter eagle in AU and higher grades," noted Douglas Winter in his study. Enough said.

Obverse with date logotype significantly to the right, with the first digit about evenly spaced. While such date differences are not of commanding importance to most specialists (who are content to acquire but a single example of a given date and mintmark variety), they are interesting to study, and in this era often are dramatically different in their location. On the reverse the O mintmark is high and has just a whisper of feather detail at the upper right of the interior.

From Stack’s Metropolitan Sale, May 1971, Lot 1235.

Sparkling Cameo 1851 $2.50

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439     1851 MS-64. Lustrous and frosty. A little cameo, a visual treat!

With regard to varieties, Breen notes that 10 obverses and nine reverses were made available for use this year. Thus, they probably never will all be identified or catalogued. Even so, we continue pointing out certain salient features.

Date logotype very well prepared this year—the assistants were becoming more expert! On the present coin, the logotype is far to the left, with the 1 piercing the neck truncation and the base coming within a gnat’s eyebrow of a dentil. The very left side of the serif is about even with the bust point. Under high magnification it is seen that the lower left serif of the final 1 has a tiny dash or line extending from it.

From Abe Kosoff’s C.S.N.A. Sale, October 1968, Lot 757.

440     1851 MS-63. Bright and exceptionally yellow gold, no doubt representing California metal (which contains silver as an impurity giving a light hue). Not often seen in this high grade.

Obverse with date logotype somewhat left and high, piercing the neck truncation. A heavy crack is seen from the border to star 3, continuing irregularly to star 2.

Purchased from N.K.S., April 28, 1967.

441     1851 MS-63. Brilliant and lustrous. A very attractive specimen.

The obverse die has the date positioned far to the left, about equal with the edge of the bust tip. The 1 is embedded in the truncation, with its base touching a dentil. At the lower right the serif of the final 1 comes very close to a dentil. On the neck is a raised triangle or island, possibly a misplaced date? Something was impressed into the die. On the neck, near the lower curl, some raised diagonal die lines can be seen.

On the reverse a light clash mark is seen extending upward from the branch toward the eagle’s wing.

From Stack’s Garrett sale, March 1976, Lot 352.

442     1851 MS-62. Bright yellow gold. Somewhat prooflike. Attractive and pleasing in every respect.

Obverse with date far left and embedded into neck truncation and dentil; same die as described earlier.

From Paramount’s sale of August 1969, Lot 1823.

443     1851 MS-62. Brilliant, lustrous, and attractive.

Date logotype just far enough left that the top of the 1 is slightly spaced away from the neck truncation, while the lower left serif barely touches a dentil. The lower part of the date is repunched, very obvious under even low magnification. On Miss Liberty’s neck on the area directly above the 8 in the date a raised curved line is seen, probably from lint adhering to the master die, and impressed into the working die.

On the reverse a tiny crack at F (OF) and the nearby wingtip, and another crack extends from the border and joins the tops of MERI, while still another crack extends from the border and joins the tops of CA.

From Stack’s sale of the Alto Collection, December 1970, Lot 90.

444     1851 MS-62. Brilliant and lustrous. Another nice example of this popular date.

Obverse logotype somewhat left, 1 piercing the neck truncation; base clear of a dentil.

Reverse with delicate cracks through the tops of STATES. Large crack from border to U (UNITED) extending to the right to connect the tops of the other letters. Crack links bottom of fraction and adjacent D.

Purchased from Superior, March 1978.

Marvelous 1851-C Quarter Eagle

High Condition Census

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445     1851-C MS-62 (PCGS). Highly prooflike obverse. One of the very finest known, one of two superb 1851-C quarter eagles obtained by Harry W. Bass, Jr. The particular piece offered here was the finest known to Douglas Winter in 1987 when he compiled his Charlotte Mint Gold Coins: 1838-1861 and, in fact, was the only Mint State piece listed.

In the intervening years, certification services have become popular, grades have been inflated, and today in 1999 it is very difficult to obtain reliable data. The Bass Collection contains another beautiful Mint State piece, to be offered in Part III, but it is highly unlikely that more than one or two true Mint State coins can be accounted for. Not making matters easier is the go-around whereby the same coins are often sent again and again to the grading services, with the result that a single specimen can "expand" and occupy a half dozen different listings! Further, often what was AU a decade ago can now be certified as a higher grade AU today or even Mint State.

We view all of this with somewhat of a detachment, but yet with the realization that grading is serious business, and valuations depend upon it. Thus, the most conservative stance is to say regarding the present coin that, for sure, it was the finest specimen known to Douglas Winter when he did his excellent study and, similarly, for sure it is among the very finest known pieces.

In the overall panorama of Charlotte and Dahlonega Mint coins, par for the course is apt to be VF or the occasional EF. When truly great collections are formed, such as the Columbia Collection which we described for auction last year, then AU pieces come into play, plus the very occasional Mint State. With the Harry W. Bass, Jr. Collection all bets are off, all conventional wisdom is gone, and pieces representing several decades of connoisseurship are brought to the market—yielding opportunities which likely will not be repeated in your lifetime once the series of Bass sales has been completed.

PCGS Population: 3; none finer.

Walter Breen reports that of three pairs of dies made available for the coinage this year, just one pair is known to have been used.

Date logotype lightly impressed into die. Centered quite far left, with tip of 1 embedded into neck truncation. Base of 1 distant from dentil, but seemingly connected to it with a very light die line.

Reverse with C mintmark high and into the claw. Feather vein touches lower right of C, below the opening, indicating a particularly high position.

From Lester Merkin’s sale of April 1970, Lot 665.

Memorable 1851-D $2.50 Rarity

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446     1851-D AU-55. A splendid specimen with warm yellow-orange gold. The striking is above average, with just a trace of central weakness. A truly lovely example that combines high technical grade with a very generous quotient of eye appeal. Thus, the Dahlonega specialist will find this piece to be a delight.

PCGS Population: 5; 5 finer (MS-63 finest).

For this issue 11,264 pieces were minted. The circulation was extensive, with the result that the typical specimen encountered today is apt to be VF or EF, only very occasionally higher. Douglas Winter comments poignantly: "In my opinion the 1851-D is one of the more undervalued Dahlonega quarter eagles. It usually trades in the same price range as the 1849-D and the 1850-D, but it is scarcer, especially in high grades such as AU or better."

The date logotype is deeply impressed into the die, giving the numerals a bold aspect. Orientation is slightly low and too far to the left, with the result that the peak of the first 1 is embedded in the bust, and the lower left serif of the same digit touches a dentil. Myriad die finish lines are seen, especially around the border from about star 10 clockwise past the date and are occasionally cited in the literature (cf. Winter). To the uninitiated these may seem to be defects, but all authentic coins have them and thus they are important hallmarks. On the reverse the barest sign of clashing is seen in the junction between the eagle’s neck and wing at the upper right corner of the shield. No cracks in either die.

From Lester Merkin’s sale of March 1969, Lot 47.

Lovely Mint State 1851-O Quarter Eagle

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447     1851-O MS-63 (PCGS). A highly lustrous specimen. Some lightness of striking as usual, particularly on the reverse. A very handsome piece.

PCGS Population: 2; none finer.

Obverse die slightly relapped, showing traces of an earlier digit below the final 1. Minor traces of clash marks on the reverse. No cracks on either side.

Purchased from I. Kleimann, October 7, 1972.

Lustrous Mint State 1851-O $2.50

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448     1851-O MS-62 (PCGS). A truly wonderful coin with frosty mint lustre on all surfaces, a wonderful sight for a New Orleans quarter eagle of this era. The striking is about average, somewhat light at the centers, particularly on the reverse.

PCGS Population: 1; 2 finer (MS-63 finest).

Obverse die lightly relapped, showing traces of repunching of the final 1 (earlier states show repunching at the 5 as well). The logotype was first entered at an angle, the impression mostly effaced, and the orientation corrected. In its present form the date is fairly well centered. The reverse is lightly struck on the eagle as usual.

Reverse with minor traces of clashing. No cracks in either die.

From Stack’s sale of the Alto Collection, December 1970, Lot 19.

Sharp 1851-O Quarter Eagle

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449     1851-O MS-61 (PCGS). A fairly sharply struck specimen, the only weakness of note being on the eagle’s leg to the left. Lustre characterizes both surfaces. A very pleasing specimen of an issue which when seen is apt to be in significantly lower grades.

PCGS Population: 3; 3 finer (MS-63 finest).

Obverse with remnants of die logotype orientation seen below 5 and 1. An early impression of the dies; no clash marks or cracks on either side.

From Paramount’s sale of November 1971, Lot 1013.



450     1851-O AU-55 (PCGS). Much original mint lustre still remains. The striking is far above average for the issue.

Very early obverse die state showing traces of an earlier logotype on all four digits, including a trace to the left of the first 1, a cusp at the lower left of the 8, an arc to the lower left of the 5, and prominent evidence of the stand of the final digit under that digit.

The reverse die shows some very minor evidence of clashing.

One can envision that Harry Bass simply purchased as many nice high-grade 1851 quarter eagles as came under his preview, and enjoyed studying them under high-powered stereo magnification, discerning the nuances of date repunching, clashing, eventual relapping, etc. At the same time, the multiple specimens serve as an excellent store of financial value and, as events would prove, a wonderful investment.

From Superior’s sale of February 1973, Lot 173.

451     1851-O AU-53. Bright yellow gold, probably from California metal. Some friction evident under magnification.

Walter Breen’s Doubled Date, with date first punched leaning far down to right, subsequently repunched in the proper position. One of the more dramatic examples of repunching of the era. In its final form, the date logotype is about centered between the bust and dentil (measured using the first digit) and close to both.

On the reverse the O mintmark is somewhat high and has a triangular section of the arrow feather extending into the opening at the upper right.

Purchased from Lester Merkin, ex Gozan Collection, June 23, 1967.

452     1851-O AU-50. Warm yellow gold surfaces. Some minute marks are visible under magnification. Possibly a "seawater" coin, but this is not certain. Fairly sharp in all respects.

Date logotype high, with 1 touching neck truncation, base of digit clear of dentil. Some slight bulging at two innermost tips of stars 12 and 13.

The mintmark on the reverse is almost exactly like the preceding, but with enough differences that they can be made out under high magnification–which, if anything, indicates that if anyone ever publishes a text on minute die varieties of coinage, enlarged photographs will be necessary–words alone will not do.

From Rarcoa’s sale of February 1972, Lot 771.

Gorgeous 1852-C Quarter Eagle

High Condition Census

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453     1852-C MS-63 (PCGS). Brilliant warm gold surfaces with a tinge of rose. A splendid specimen, none finer seen by Harry Bass. Douglas Winter’s reference on Charlotte gold coins lists just a single piece at the Mint State level, this being in lesser grade than the present piece (which was not surveyed) and called "MS-60 to MS-63."

Once again, we have at our fingertips a coin which combines rarity, romance, and exceedingly high grade, the type of coin that only appears on the market once a generation, if indeed that often.

PCGS Population: 1; none finer.

Date logotype small, assuring a comfortable fit on the die if properly placed. In the present instance the date is somewhat left, and slightly closer to the neck truncation than to a dentil. The first two digits are repunched at the bottom, the third digit less so. Striation marks indicate that this may have been a very early striking from the dies.

On the reverse the mintmark is fairly high, with the triangular projection from the arrow feather extending into the open space within the C. Heavy clash marks are seen at the eagle’s wing at the upper right of the shield, indicating at least three distinct clash occasions, possibly more.

It is recorded that three pairs of dies were sent from Philadelphia to Charlotte, but apparently only one die pair actually saw use. Travel to Charlotte had its complications, and it was easier to send multiple dies for possible use, even if some would remain unused, than it was to send just one pair of dies, and then have the Mint stop coining a denomination while other dies were requested if needed.

From Stack’s Metropolitan Sale, May 1968, Lot 723.