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

Outstanding 1852-D Quarter Eagle

High Condition Census

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454     1852-D MS-61 (PCGS). A marvelous and highly important specimen of this major rarity, one of the very finest known. Apparently (who knows?) not quite the equal of a coin that was graded once as MS-62 by NGC, another time as MS-62 by PCGS, and still another time as MS-63 by PCGS, and used by Winter as his plate coin. In any event, the same author is aware of only two specimens in Mint State.

PCGS Population: 3; 2 finer (MS-63 finest).

Not only is the Bass Collection piece important for its grade, but in contrast it seems to stand far above the crowd concerning overall quality. Douglas Winter notes: "Most examples have very heavily abraded surfaces…there are usually conspicuous marks in the field."

Again, here is a treasure for the connoisseur and specialist.

Date very high and about three times closer to the neck truncation than to the dentils. Raised die line from border through star 3.

On the reverse the D mintmark is high. About half of the interior is covered by a diagonal section of the arrow feather. Some minor clash marks in field to upper right of shield.

From Stack’s sale of the Miles Collection, October 1968, Lot 158.

Lustrous 1852-O Quarter Eagle

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455     1852-O AU-58. Light yellow gold. Much mint lustre still remains in protected surfaces, particularly on the reverse. A very attractive coin, and one which is decidedly elusive in grades above VF and EF.

Date very high and three or four times closer to the neck truncation than to the dentils. Reverse with O mintmark fairly high, and with a small "spike" from the arrow feather extending from into the opening to the upper right.

From Stack’s sale of the Miles Collection, October 1968, Lot 159.

Prooflike 1852-O Quarter Eagle

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456     1852-O AU-55 (PCGS). Somewhat prooflike, a characteristic observed as the coin is held at an angle to the light. A very attractive example. The striking is about par for the issue and has some slight weakness, especially on the reverse.

Four-digit date logotype is small, thus it could be easily positioned in the space allowed. However, on the present die the logotype is very close to the neck and distant from the dentils. Perfect dies. Seemingly an early impression from the pair.

Purchased from I. Kleinman, October 7, 1972.

Attractive 1852-O Quarter Eagle

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457     1852-O "Extra Heavy O." AU-55. Bright yellow gold, characteristic of New Orleans issues of this era. A handsome and pleasing coin.

Obverse with date logotype deeply punched high into field, three or four times closer to neck truncation than to dentils. Reverse with "extra heavy O," which led Walter Breen in his Encyclopedia to comment, "Except for size, this recalls the 1854-O ‘Huge O’ quarter dollar. Mintmarked at New Orleans?" The O mintmark is very deep, heavy, and somewhat lopsided. A curiosity and attraction among quarter eagles of the era.

From Stack’s sale of the Stewart Collection, May 1972, Lot 1642.

Another Curious 1852-O $2.50

458     1852-O "Extra Heavy O." AU-53. Another specimen of this very interesting coin. Much mint lustre is still seen.

Same dies as preceding.

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 1855.

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459     1853 Breen-6222. Repunched 18. MS-63. Brilliant honey gold with strong cartwheel lustre. A pleasing example of a scarce variety.

On this particular variety, the bases of the 1 and 8 in the date are unmistakably repunched at the bottoms of those numerals, particularly so at the base of the 1. Breen calls this variety "very rare" in his Encyclopedia.

From Stack’s sale of the Alto Collection, December 1970, Lot 459.

460     1853 MS-62. Lovely and lustrous, bright and beautiful. An outstanding specimen of the date, variety, and grade. Satiny surfaces enhance the beauty.

Date logotype strongly repunched at left, particularly noticeable at the lower left of the serif of the 1 and the upper interior and the base of the 8. Logotype closer to neck truncation than to dentils, with the neck truncation having a little "scoop" removed so as not to have the digit touched. Many parallel die striae are seen, particularly in front of the neck and along the right border. From all indications this is an extremely early striking from the die.

Reverse with the master die impressed rather lightly into the working die, giving good definition of detail, but resulting in a significant separation of the lower arrow from the final A (AMERICA). As a general rule of thumb and by casual observation, it seems that branch mint coins of this era often have the arrow and letter much more closely spaced, from deeper impressions of the master die. There are exceptions, of course.

From Stack’s sale of the Alto Collection, December 1970, Lot 93.

Incredible 1853-D Quarter Eagle

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461     1853-D MS-60 (PCGS). Highly prooflike surfaces, the obverse almost representing a presentation piece. Deep dished and basined dies, which seem to be about par for Dahlonega coins—due to the master die being driven very deeply into the working die. Why this was, we do not know. Perhaps it was intended that dies last longer in Dahlonega, and thus have the features in bolder relief. Or, perhaps there is some other explanation. However, when a large number of quarter eagles of this era are surveyed, the difference becomes quite evident.

The 1853-D is elusive in all grades, and even an AU-50 coin would be an attraction in a sophisticated advanced collection. The MS-60 grade ranks this piece among the finest known, high Condition Census. Here, indeed, is another rare prize.

PCGS Population: 3; 4 finer (MS-61 finest).

Date far left, embedded in the neck truncation, and just a hair’s breadth from a dentil. Prooflike surface in all areas, as noted. Some die striations are seen. Some lumps are seen between stars 3 and 4; a very prominent ridge extends from the border past the left side of star 8 to Miss Liberty’s hair. A very irregular series of lumps is seen to the left of star 9 near the border.

On the reverse the mintmark is high. About the top 40% or so of the interior is occupied by part of the arrow feather.

With the 1853-D, mintage quantities changed dramatically. Production fell to just over 3,000 pieces, beginning a series of low mintages which would last to the end of the Dahlonega quarter eagle series. All known authentic pieces are lightly struck in areas. Most examples are VF to EF. Douglas Winter estimates the total population at 55 to 60 coins.

From Stack’s Metropolitan Sale, May 1968, Lot 727.

Especially High-Grade 1854 $2.50

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462     1854 MS-66 (PCGS). A splendid specimen with deep, full mint lustre. On the obverse some parallel planchet striations are seen on the cheek, perhaps having the financial effect of reducing the value of the coin by a grade point or two. The striking is above average. Overall this is one of the nicest 1854 quarter eagles in existence, one that Harry Bass had noted as "finest seen" of this particular die combination and state.

PCGS Population: 1; none finer.

The date logotype is deeply and evenly punched into the die, although high and with the first digit piercing the neck truncation. The reverse displays some die finish lines in a near vertical orientation. A very early impression from the die pair.

Purchased from Numismatics, Ltd., June 9, 1973.

463     1854 MS-63. Light yellow gold. Highly lustrous and frosty. A very pleasing coin.

Date logotype as usual for this year, but lightly impressed into the die, resulting in a significant separation between the 5 and the adjacent 4. On most other dies of this year the date is deep, and the 5 and 4 seem to connect. The logotype is well made but is slightly larger than it should be for use on a quarter eagle. On the present coin the position is left, with the 1 virtually touching the neck (which has been scooped out to prevent this contact) and also grazing a dentil. The right serif of the last digit is very close to a dentil. Clash marks are seen around the portrait of Miss Liberty.

Reverse with extensive clash marks reflecting an outline of the portrait figure—clearly seen under magnification, as the satiny fields and the relative absence of marks highlight the outline.

From Stack’s sale of the Scanlon Collection, October 1973, Lot 2069.

464     1854 MS-62. Lustrous and frosty. Another attractive example.

Date logotype driven deeply into the working die, thus connecting the last two digits. Placed very high, piercing the outline of the neck truncation and distant from the dentils. A delicate crack connects stars 1-3. Another crack irregularly connects stars 4-7, fading, resuming at 8 and continuing irregularly through star 13.

On the reverse light cracks are seen at NITED and again at STATES. Another crack connects OF with the wing tip.

From Stack’s sale of May 1968, Lot 728.

465     1854 MS-62. Lustrous and attractive, a nice mate to the other Mint State pieces offered here.

Date logotype deep into die, particularly so toward the last two digits of the date, rendering them very bold and very strongly connected. Date logotype high, with 1 into neck and distant from dentils. Reverse with barely noticeable and irregular cracks through part of STATES OF. Arrow point touches base of A, indicating that for the reverse the master die was driven deep into the working die.

From Stack’s sale of the Winter Collection, February 1974, Lot 519.

Beautiful 1854-C $2.50 Rarity

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466     1854-C AU-58 (PCGS). A stunning, gorgeous bright yellow gold example. A decent strike, with some reverse weakness as usual, but overall quite bold. This particular variety is usually seen in a much less satisfactory condition; witness Douglas Winter, here excerpted: "Weak strikes are the rule for this date. The obverse is often blurry on the hair around Liberty’s ear. The reverse is always weaker than the obverse; the center and eagle’s claws are invariably very weak… The quality of planchets used for this issue was quite poor; some survivors show extensive areas of mint-made porosity at the date and stars from 10:00 to 1:00. For some reason the lustre of this date is very poor…" This cited, it is realized that the present coin, while it has some of the invariable weak features, is far above average.

PCGS Population: 6; 2 finer (MS-61 finest).

All known 1854-C quarter eagles are from a single die pair, and were struck to the extent of 7,295 examples. The date logotype is high, with the peak of the 1 piercing the neck truncation. Some slight evidence of clashing is seen in front of Miss Liberty’s nose and neck.

On the reverse a barely perceptible crack extends from the border to the tip of the fraction bar.

From our sale of the Fairfield Collection, October 1977, Lot 1540.

Notable 1854-D Quarter Eagle

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467     1854-D AU-58 (PCGS). Somewhat prooflike, particularly on the obverse. Rich warm yellow gold. A delightful specimen that surely ranks as one of the very finest known. In fact, this probably could be called MS-60 without fear of contradiction. Douglas Winter notes that only two Mint State coins are known to him.

PCGS Population: 2; 3 finer (MS-62 finest).

Date extremely deeply impressed into working die. Positioned high and into the truncation. Many raised die lines are seen around the border, and lumps and irregularities are observed between stars 8 and 9, near star 10, and between stars 11 and 12. Such attributes, variations of which exist on other dies, make Dahlonega coins fascinating to collect.

On the reverse the upper part of the mintmark is occupied by part of the tailfeather. This same die was employed in 1852 and 1853.

Purchased from Tom E. Werner, November 23, 1966.

Gorgeous 1854-O Quarter Eagle

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468     1854-O MS-64 (PCGS). Brilliant, lustrous and frosty. Quite well struck on obverse and reverse, the only exception being at the lower part of the eagle. One of the nicest examples we have ever seen of this date and mint.

PCGS Population: 1; none finer.

On the obverse the date logotype was boldly entered into the working die, a bit too far left, thus causing it to be very close to both the dentils and the neck truncation. This particular logotype has lower relief through the centers of the letters than at the top or bottom, perhaps due to "rocking" the logotype punch as it was entered into the die. The present impression is a late state of the die. Clash marks are seen before and after Miss Liberty’s neck. Die roughness characterizes most of the border past the stars. A crack is seen from the border to star 5.

The reverse die also seems to be a late state with some roughness between the inscriptions and the dentils, making it a candidate for relapping. A tiny trace of clashing is seen at the eagle’s wing above the right corner of the shield. No cracks in evidence.

From Paramount’s sale of February 1977, Lot 588.

469     1854-O AU-58. Bright yellow gold, probably from California. Highly lustrous. A very attractive example.

Date logotype "rocked" vertically into the die, giving extra depth to the top and bottom of the date, lighter through the center line. Logotype closer to bust than to dentils, with the bust scooped out slightly to prevent contact. 5 and 4 distinctly separated from each other. Crack from border between stars 1 and 2 extends to near chin. Some interesting die irregularities are also seen near stars 1 and 2 as well. Reverse with mintmark high, and with just the barest hint of an arrow feather at the inside right.

Purchased from Julian Leidman, February 18, 1972.

470     1854-O AU-55. Bright and lustrous. Another attractive New Orleans quarter eagle.

Obverse with date fairly deep into the die, seemingly more deep on the left than on the right. Numerals 54 close but not touching. 1 low and touching dentil, distant from neck truncation. Reverse with mintmark high and with upper left third occupied by part of the arrow feather. Prooflike within the shield stripes.

From Abe Kosoff’s sale of the Shuford Collection, April 1968, Lot 1856.

471     1854-O AU-55. Another pleasing specimen.

Date logotype as described earlier, with top and bottom figures heavier than the center line. Crack from border between stars 1 and 2 extends to cheek. Die irregularities in the same area. Another crack extends from the bust tip through star 1, to the crack earlier mentioned, then from another point in the crack, through stars 2 onward, continuing to star 5, at which point a branch crack is taken up. Near this point, and above the head of Miss Liberty, the die is severely bulged, giving a blister effect that is quite unusual and has few counterparts elsewhere in the quarter eagle series. Additional cracks are seen through the other stars. A very interesting and curious die from a technical viewpoint. On the reverse the mintmark is slightly high, with just the barest whisper of a feather element at the right interior. Some roughness opposite the dentils.

Purchased from Jack L. Klausen, June 16, 1968.

Finest Known 1854-S Quarter Eagle

Rarest Coin in the Series

An American Numismatic Treasure

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472     1854-S AU-50 (PCGS). Light wear evident, but not as much as on all other known specimens. A few light scratches are seen here and there on the reverse but in the context of 1854-S quarter eagles are not particularly unusual. The coin speaks for itself—none finer is known. The highest graded specimen of this landmark rarity, a coin earlier called EF. You can take your pick of whatever grade you choose, but by any account, this is the finest known.

This particular piece is mentioned in David Akers’ study of the quarter eagle series, which commented in part:

"The 1854-S is one of the rarest of all U.S. gold coins. Its low mintage of just 246 pieces is the third lowest of any regularly-issued gold coin. All known specimens are very low grade, and I have not seen one that would grade fully Extremely Fine, although according to Stanley Kesselman, the one purchased by Harry Bass from Stack’s comes very close." The same writer, drawing upon auction appearances, suggested that "No more than 10 to 15 specimens are known." However, auction appearances seem to have included duplicate examples.

Seventeen years ago when we catalogued the Eliasberg Collection coin, described as VG-8 obverse and G-4 reverse, we gave a brief history of the issue, which we paraphrase below:

The 1854-S has the lowest recorded mintage (only 246 were struck) of all quarter eagles issued as business strikes for circulation from 1796 to 1929. Only about a dozen examples survive today, and all of these are in worn grades.

The San Francisco Mint began producing gold coins in 1854. Due to the difficulty of obtaining acids to part silver, which existed as an impurity in the native gold, Mint officials produced very few quarter eagles and half eagles that year. At least, this is the traditional explanation given. (On the other hand, many gold dollars, eagles, and double eagles were struck, so perhaps the explanation lies elsewhere; or perhaps it was desired to mint quarter eagles and half eagles at the time the acid supply problem occurred, and when there was no shortage of acid, minting attention turned elsewhere and quarter eagles and half eagles were overlooked.)

According to David Akers’ auction survey, the 1854-S is the most difficult quarter eagle to obtain in high grade. All known specimens show signs of wear. In addition, the 1854-S is the second rarest quarter eagle in terms of the number of auction appearances over the years, and is tied with the exceedingly rare 1806/5 overdate and the 1841. Only the 1804 with 13-star reverse appears less frequently, but perhaps the 1804 with 13 stars is more plentiful than is thought, for not all cataloguers noted the reverse star count when describing coins.

In Edgar H. Adams’ Official Premium List of United States, Private, and Territorial Gold Coins, published in 1909, he found "no record of public sale" for the 1854-S. In fact, the first sale at public auction that Dr. Richard A. Bagg, research associate to Q. David Bowers for the Eliasberg catalogue, could find was by B. Max Mehl in the Belden Roach Collection sale of February 1944. Mehl noted at the time:

"Until 1910 not a single specimen of this coin was known to exist in any collection. I discovered one specimen through my extensive advertising. It was sold to Mr. John Clapp of Washington at over $500."

Mehl has been known to exaggerate on occasion and sometimes confuse facts, not a surprising situation in view of the literally millions of transactions he conducted over the years. Examination of the May 1911 issue of The Numismatist disclosed the following citation by Edgar H. Adams:

"…for the benefit of especially the quarter eagle collectors the long-sought-for 1854 $2.50 gold piece from the San Francisco Mint has come to light and is now in the collection of Mr. H.O. Granberg of Oshkosh, Wisconsin. This rare mintmark recently came to Mr. Granberg’s notice, and of course was carefully examined by him. It was found to be authentic beyond a doubt. Mr. [Samuel] Hudson Chapman has also examined the coin and has stated that it was the only specimen of the variety that had ever been located."

More than likely, Mehl sold the coin to Granberg, who may have disposed of it later. It was not part of the 1913 Granberg Collection sold at auction by Mehl, but Granberg is known to have sold pieces on other occasions as well.

The Clapp notebooks revealed that an 1854-S quarter eagle was purchased from Elmer S. Sears for $395 in August 1915. This coin subsequently went to Louis E. Eliasberg, Sr., in 1942, and was sold by us in 1982 as part of the Eliasberg Collection.

Fast forward to 1988 and Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins. In that publication he offered the following commentary and registry, that described as No. 3 being the Bass Collection piece offered in the present 1999 sale:

"1. Davis-Graves:825, Harry Bass? VF+, horizontal abrasion above eagle.

2. Atwater, Grant Pierce, Miles, 1973 ANA:826, $9,000, 1974 MANA:1547, $24,000, Arthur Lamborn, "Fairfield":1544, $10,000 (1977), Scott-Kinnear:13, $9,900. VF, nick above 13th star, rough on upper l. obv., lower l. rev. Enl. Photos.

3. F.C.C. Boyd, WGC, "Bell," "Memorable," Clinton Hester or C.M. Williams, Menjou:1326, NN 51:837, pvt. colls., "Rio Rancho":89, $31,000. VF+, scratch from arrow to M.

4. Waldo Newcomer, Col. E.H.R. Green, "Bell," Farouk:278, Gilhousen:184, "Rio Rancho":90, $13,000, Dr. Altany, Windsor:307, $24,000. F to VF.

5. Roach, Wolfson, S. Hallock to duPont:85, 1983 Grand Central:2762, $10,000. F, scratch above eagle’s head, another (parallel upper wing) to rim close to F.

6. Kreisberg/Schulman 2/60:2592, 1979 ANA:82, $8,750. Auction 81:1405. VG-F, $9,200.

7. "Western bank," B. Max Mehl, 1910, H.O. Granberg, Mehl, Elmer Sears, John H. Clapp, Eliasberg:170, $7,150. VG/G.

8. Tex. pvt. coll. Loop removed, traces of solder.

9. Tex. pvt. coll. Obv. VF, scratched; rev. shank removed, affecting NITE and MERI.

There are probably at least two others around."

b

This coin, No. 3 in the above list (but not identified by Breen as such), was catalogued by Walter Breen and finessed by John J. Ford, Jr.—the procedure in effect at New Netherlands coin company at the time— as follows in their 51st catalogue of June 19-20, 1958, as Lot 837:

PCGS Population: 1; none finer.

1854-S. In date, 1 embedded in bust; upper right corner of mintmark joins tip of arrow shaft, but the S is elsewhere clear. Strictly Very Fine; bold, the obverse more so than the reverse (as on all others known). Although this piece has minor handling marks, the most obvious of which is a faint reverse scratch from the top arrow to M, it still retains traces of original lustre on the reverse, confirming our contention that the flatness on the eagle’s head and upper parts of wings is a result of the way the coin was struck. Beyond doubt, this is one of the two finest of only five so far traced (a sixth is reported, but still unverified). Other than two half eagles, the 1841-O and 1875, this coin has the lowest mintage of any gold piece struck for circulation and so used. Also, likewise an unappreciated fact, the 1854-S quarter eagle is an initial type coin, being the first San Francisco Mint issue of that denomination.

Of the 246 pieces made 104 years ago, this coin was the second specimen to be discovered and the first choice one. It was Lot 242 of the 1946 "World’s Greatest Collection;" Lot 222 of the 1948 Memorable Sale; Lot 1326 of the 1950 Menjou offering. The other four examples known to us are as follows: (1) Davis-Graves, 1954, Lot 825, VF plus; (2) Bell, 1944, Lot 240, Farouk, 1954, part of Lot 278, VF; (3) Atwater, 1946, Lot 2072, Fine, obverse field dig; (4) Eliasberg coll., discovered circa 1910 in a western bank, sold by B.M. Mehl to J.H. Clapp for a reported $850, to Eliasberg with the Clapp coll., 1942. VG.

Clearly, one of the most underrated United States coins in any metal manufactured to be used as a circulating medium, and completely free of the stigma of Mint experimentation or chicanery. In comparison with commoner, but more touted coins such as the 1815 half eagle (and many others we could name), this mintmark has a tremendous potential, perhaps in the $4,000 to $5,000 class. A true American classic!

The "New Netherlands style" was quite advanced for its era, and had its genesis in 1952 when John J. Ford, Jr. compiled a section of the ANA convention catalogue. The philosophy at the time, which to a degree has inspired some of the work we have done here at Bowers and Merena and earlier, was to say as much as possible about the coin—the specimen itself as well as its history, background, and, if merited, other known pieces.

Today in 1999, what with certified grading, changing standards, and so forth, the New Netherlands grades are probably as obsolete as the 78 rpm record. However, in a relative sense it is seen that the Bass specimen is of extraordinary quality and, as noted, it is believed to the finest known example.

In recent times the history of the San Francisco Mint has been in the spotlight, and the comments concerning our detailed coverage in our recent book, The Treasure Ship S.S. Brother Jonathan, have been extensive. At least one individual plans to use this as a jumping-off spot for more research and study. No doubt the sale of the treasure coins from the S.S. Central America, when they come to market, will cause the limelight to focus even more sharply and intensely. Of all the coining facilities operated by the American government, none has a more romantic, more curious history than the San Francisco Mint.

Within the quarter eagle series, no other San Francisco Mint rarity comes even close as a competitor. Thus, the connoisseur in the field will find that at once the Bass Collection 1854-S is the rarest of all quarter eagle date and mintmark varieties, the highest grade example of the rarest, the rarest San Francisco quarter eagle (by definition), and, indeed, one of the rarest and most desirable of all coins in the United States gold series. If the term "once in a lifetime opportunity" is appropriate, here is a good place to use it.

Acquired by Harry Bass in October 1974. Earlier in the Rio Rancho Collection (Superior), and before that New Netherlands’ Sale 51, (quoted above), the Adolphe Menjou Collection, the Memorable Sale, the Bell Collection, and F.C.C. Boyd’s "World’s Greatest Collection" (Numismatic Gallery).

Exquisite 1855 Quarter Eagle

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473     1855 MS-64 (PCGS). An exquisite specimen, extremely sharply struck and virtually definitive in this regard—even including the lower features of the eagle. For the type collector wanting a very special specimen, the search ends here. Rich golden surfaces with attractive lustre complete the picture of a truly splendid coin.

PCGS Population: 5; 2 finer (MS-65 finest).

Slightly smaller date logotype this year than in 1854, providing it with the potential of fitting comfortably in the space allotted, but in the present instance placed slightly too high. Die striae are seen in the fields oriented at about 45° from the vertical, from upper left to lower right, indicating that the present piece is a very early strike (as such die preparation lines quickly wore away).

The reverse has similarly oriented die striations. No doubt the present piece was made in the first few hours of employment of the combination, as noted earlier.

Purchased from Julian Leidman, July 28, 1972.

Beautiful 1855 Quarter Eagle

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474     1855 MS-63. A beautiful specimen with rich, deep mint lustre. A lovely example of a date that is not rare in lower grades but which in full Mint State is seldom seen. It is quite interesting to contemplate how some issues can be plentiful and others elusive—the mintages play a part, but only a part, and there are often other factors, mostly unknown, that are involved.

Date logotype well made this year, with italic 5s (as on certain varieties of cents). Lightly punched into the die. Very high and very close to the neck truncation, distant from a dentil. The logotype is more deeply punched into the die at the right of the date than the left. Clash marks are seen around the portrait of Miss Liberty.

On the reverse clash marks are seen around the eagle, particularly around the head, but also elsewhere. A delicate crack is seen through the eagle’s wing through the top of STATES, and another crack is seen at OF and extending to the border. As is the case with other high-mintage quarter eagles, there are so many different die varieties that it will never be possible to keep track of them all, especially if the topological differences are not all that great. However, it is interesting to make note of certain characteristics.

From Abe Kosoff’s sale of the Shuford Collection, April 1968, Lot 1745.

475     1855 MS-62. Frosty and lustrous. Well-struck from clashed dies. Another very attractive example of a Philadelphia date which is common enough in worn grades, but which is decidedly rare at the MS-62 level.

From Abe Kosoff’s sale of November 1968, Lot 765.

"Impossible" 1855-C Quarter Eagle

High Condition Census

Possibly Finest Known

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476     1855-C MS-64 (PCGS). A fantastic specimen, of virtually impossible quality, seriously challenged in Douglas Winter’s study only by our Fairfield Collection coin, Lot 1547.

Charlotte gold coins of any date are virtually unheard of in a true MS-64 grade. Further, of high-level specimens—AU upward—very few coins with any numerical designation have the "life," the brilliance, the beauty of this specimen. Here is another treasure for the connoisseur and specialist.

PCGS Population: 1; none finer.

Date logotype slightly closer to neck truncation than to dentils, with an indentation in the neck truncation preventing contact.

Mintmark fairly high. Part of feather extends as a spike into the opening of the C. Curious parallel die striae are in field opposite the upper left of the shield. Some clash marks are seen.

Source unknown, but acquired by Harry Bass on August 31, 1977, possibly by trade.

Rare 1855-C Quarter Eagle

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477     1855-C AU-55. Rich deep yellow gold with hints of orange. Fairly well struck for the issue, but with some weakness at the lower part of the eagle. On the obverse some marks are seen on Miss Liberty’s jaw and near her ear.

PCGS Population: 10; 5 finer (MS-64 finest).

The date logotype is deeply impressed into the die, giving the numerals a bold characteristic.

The reverse die, also used in 1854, shows a tiny crack from a dentil to the fraction denominator. In addition there are evidences of clashing and slight bulging. The Charlotte Mint used its dies extensively!

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

Exceptional 1855-D Quarter Eagle

Condition Census

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478     1855-D AU-55 (PCGS). A high Condition Census specimen of a variety of which not a single Mint State coin is known to exist (per Douglas Winter).

Before further discussing the grade of the presently offered specimen and its technical aspects we quote Douglas Winter further:

"The 1855-D quarter eagle is the rarest coin struck at the Dahlonega Mint. In most advanced collections it is the final piece to be purchased due to the extreme difficulty of locating a nice example."

What a remarkable statement! Considering all coins from the Dahlonega Mint, from gold dollars through half eagles, the 1854-D $2.50 stands tall and proud. The Bass Collection coin is exceedingly important from several aspects:

First, the rarity is unquestioned. The low mintage of 1,125 pieces created an elusive piece at the very time of production. However, in 1855 there was absolutely no interest in collecting gold coins by mint varieties, and all went into circulation to meet varying fates. Not even the Mint Cabinet kept an example. Today the number known of 1855-D quarter eagles of all grades combined is very small, just a few dozen totally.

Secondly, the AU level represents the finest known grade, thus making the Bass Collection important for its quality. Third, not only does this coin hit a home run from a numerical or technical viewpoint, but it is an aesthetic work of art—with rich golden surfaces, somewhat prooflike, and of exquisite beauty. To see this coin is to love it, and we readily imagine that the Dahlonega specialist will consider this to be one of the foremost highlights in his or her collection.

PCGS Population: 10; 2 finer (MS-60 finest).

Date logotype very deeply impressed into die. Very slightly doubled at lower left of final digit. Logotype very close to dentils, about twice as close as to the neck truncation above. Raised die lines are seen around much of the rim, particularly on the right side of the coin.

On the reverse the D mintmark is high. The center is about half filled diagonally with part of the arrow feather. As is true of many if not most Dahlonega coins, the master die was driven deeply into the working die, creating a very bold relief and resulting in the lowest arrow touching the bottom of the final A (AMERICA).

From Stack’s sale of the Miles Collection, October 1968, Lot 169.

Eye-Catching 1856 $2.50

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479     1856 MS-66 (PCGS). A splendid eye-appealing coin with rich, smooth, satiny lustre on obverse and reverse, the latter side challenging perfection.

PCGS Population: 2; 1 finer (MS-67).

Obverse with small date numerals, as always seen, although a Large Date variety was reported years ago and never confirmed (and may not have been reported correctly in the first place). The digit 5 is italic as on all. Perfect obverse and reverse dies (no cracks).

Purchased from Julian Leidman, July 28, 1972.

Beautiful 1856 Quarter Eagle

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480     1856 MS-63. A beautiful, satiny, lustrous specimen, one of the finest known. Both obverse and reverse are bright yellow gold. A tiny silvery fleck is seen at the lower right of the neck truncation, possibly a piece of stray metal in the alloy.

Very small date logotype this year, setting a trend that would be continued for several years thereafter. In the dime series, both large and small date logotypes were used in 1856, but not here. However, the present logotype is that used on the Small Date dime. Fifteen pairs of dies were produced for the 1856 quarter eagle coinage, and probably the use of all of them will never be recorded, as differences in placement may be small.

In the present specimen, the logotype is more deeply punched toward the end of the date, making the 6 much bolder than the other figures. On the right border some interesting ridges, almost representing a plowed field as seen from a high altitude, can be observed—very curious. A minor clash mark is seen behind the neck.

On the reverse some very interesting ridges are seen at the dentils above STA (STATES) and in the field above the final S and the nearby OF. This pair of dies probably rusted lightly, and was given the wire brush treatment (on the obverse), accounting for the "plowed field" analogy. One can imagine that the dies were left exposed in a humid Philadelphia summer, rusted lightly, then dressed prior to use. At a casual glance—without the use of magnification—the features just observed would not be noticed, nor would a certification service mention them. However, upon close inspection they make the piece all the more fascinating.

Purchased from Douglas Weaver, November 27, 1973.

1856-C $2.50 Rarity

Exceptional Quality

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481     1856-C AU-55 (PCGS). Light yellow gold. Somewhat irregular surfaces, as characteristic and as made. Nick or cut on reverse rim above E (AMERICA). Decently struck for the issue.

In the context of 1856-C quarter eagles the present piece is remarkably fine. Douglas Winter’s book, Charlotte Mint Gold Coins, reinforces by implication our sentiment: "The 1856-C has the dubious honor being among the most poorly struck of all Charlotte quarter eagles. The obverse is especially weak and, sometimes, the ERT in LIBERTY is almost illegible. Most specimens have mint-made depressions (caused by die rust) before the first and between the second and third stars. Another depression, above the eagle’s head, is also commonly seen. Others are found struck on granular planchets. The 1856-C is, in high grades, rarer than the more celebrated 1855-C, despite popular belief to the contrary."

For the connoisseur the present piece is quite exceptional. The word LIBERTY is fully and completely defined, and other aspects are equally desirable. We expect much bidding competition when this crosses the block.

Date logotype slightly low and to the left, but comfortably situated due to the small height of the numerals. Some die rust (per Winter) or irregularities, as always, on reverse, but no cracks in evidence.

From Lester Merkin’s sale of September 1967, Lot 331.

482     1856-C Net EF-45; or possibly slightly better. Scratches in field behind neck prompt us to assign the EF-45 category, five to 10 points less than we would have given otherwise.

Still, the coin is above average in quality. The planchet, which Walter Breen states is "usually defective," in the present instance is not. In-person examination of the coin is recommended.

Obverse with small date as always, deeply punched into the die, and slightly closer to a dentil than to the neck truncation. Reverse with upper right of C mintmark embedded in arrow feather.

From Rarcoa’s sale of February 1972, Lot 775.

Famous 1856-D Rarity

Lowest Mintage Dahlonega Coin

Condition Census

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483     1856-D AU-50 (PCGS). Warm golden surfaces. A lovely coin combining Condition Census quality with a very pleasing aesthetic appeal—all in all a truly memorable specimen. The 1856-D is just slightly more available than the exceedingly rare 1855-D, and has an even lower mintage. In fact, the production of only 874 quarter eagles for 1856-D places it as the rarest Dahlonega quarter eagle and the only coin in the entire Dahlonega Mint series—dollars to half eagles—with the figure below the 1,000 mark.

The present specimen will attract a wide circle of bidders. Again, as is so often true with the Bass Collection coins, the opportunity is remarkable.

Apparently an extensive mintage was contemplated for 1856-D, as three pairs of dies were shipped from Philadelphia to Dahlonega. However, only one die pair was used.

From Superior, February 1973, Lot 190.

High-Grade 1856-O Quarter Eagle

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484     1856-O AU-55 (PCGS). Light yellow gold. Much lustre is seen on both sides. A superb strike with excellent detail throughout, including the all important and usually flat area on the eagle’s leg to the left (eagle’s right leg, but seen on the left side of the coin). A truly memorable example of the issue, one that is deserving of strong bidding competition. The Breen text notes: "Much scarcer than the mintage figure [21,000] suggests. Very rare in EF."

Date logotype punched deeply into the die, more so toward the end of the date than in the beginning. Fairly well centered, but closer to the neck than to the dentils. Obverse with some graininess near the dentils, particularly from stars 3 through 10, perhaps rust, or, more likely, evidence of protracted die use. On the reverse rust is indeed seen in several places, especially at ITE (UNITED), no doubt from the miasma that pervades that low -

From Rarcoa’s sale of February 1972, Lot 977.

485     1856-O AU-50. Somewhat satiny surfaces. Brushed at one time. On the reverse there is full prooflike character within the shield stripes. One of the nicer specimens we have seen of the 1856-O.

Date logotype somewhat closer to the neck truncation than at the dentils, but with a generous amount of space above and below in each instance. Deeply and somewhat evenly impressed into the working die.

On the reverse the O mintmark is high, with the arrow feather overlapping it and extending into the upper left of the opening.

From Stack’s sale of the Miles Collection, October 1968, Lot 173.

Gem 1856-S Quarter Eagle

Extraordinary Quality

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486     1856-S MS-65 (PCGS). Deep rich lustre, almost three dimensional. Creamy, satiny, and smooth. Fairly well struck. An extraordinary example of an issue which when seen is usually in much lower grade.

The 1856-S, with a mintage of 71,120 pieces, is the earliest collectible San Francisco Mint coin of this denomination, the 1854-S being for all practical purposes unobtainable (the Bass coin being an unusual exception). Most examples show extensive wear, and today the typical grade on the market is apt to be VF to EF.

PCGS Population: 1; none finer.

Date logotype slightly high, but nicely positioned with ample space above and below. Much more deeply impressed into the die at the right side of the date, making the 6 quite large in comparison to the other figures.

On the reverse the S mintmark is far to the right of where the C and D mintmarks were placed this year, and is in the field, not touching any devices, to the lower right of the arrow feather.

Purchased from Paramount, February 1977, from the Altany Sale, Lot 592.

487     1856-S AU-55 (PCGS). Bright yellow gold surfaces. Excellent strike. A very pleasing example of an issue that Walter Breen says is much scarcer than the mintage figure of 71,120 suggests.

From Abe Kosoff’s sale of November 1968, Lot 766.

488     1856-S AU-55. Light yellow gold. Lustre is still seen in protected areas.

Date logotype positioned about as preceding, but more evenly applied, the 6 being less prominent. There is a ding or mark on the last digit (caused by handling).

On the reverse the mintmark is in the same general position as the preceding, but slightly farther left, touching the arrow feather.

From Abe Kosoff’s sale of the Shuford Collection, April 1968, Lot 1859.

Frosty 1857 Quarter Eagle

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489     1857 MS-67 (PCGS). A frosty, lustrous specimen of exquisite beauty. Far above average strike. Medium yellow gold with some splashes and freckles of orange-brown. A little cameo, indeed one of the finest we have ever seen of this date.

PCGS Population: 2; none finer.

The four-digit date logotype is just about the correct size for the quarter eagle denomination and fits comfortably in the space allotted. In the present die the last digits are more deeply impressed than the first, indicating that the punch was not driven into the die straight (not a particularly unusual circumstance). The lower outside right of the 8 has a small "chip" out of it, indicating that the logotype must have been nicked. This is seen on certain other (but not all) 1857 quarter eagle dies as well and probably indicates those made later in the year. At star 8 there is a tiny line or incipient crack parallel to the border.

On the reverse a minute trace of clashing is seen on the eagle’s wing above the right corner of the shield. Some die striae are present on obverse and reverse, indicating that the present piece is an early impression from the die pair.

Purchased from Julian Leidman, July 28, 1972.

Rare 1857-D Quarter Eagle

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490     1857-D AU-58 (PCGS). Medium gold with splashes of orange on obverse and reverse. An exquisite strike, with excellent detail overall including the all-important eagle’s leg to the left. The high rims on the obverse and reverse serve to "frame" the devices and give the piece a cameo-like appearance. Only 2,364 examples were struck, all from the single die pair. Today this is recognized as one of the prime rarities among Dahlonega issues, a piece seldom encountered save when important collections come to market.

Obverse with logotype well positioned. Tiny nick out of lower right of 8, from the logotype punch. Raised die lines extend upward from 1 and 8 in date.

The reverse die was also used to coin the rare 1856-D quarter eagle.

Purchased from Julian Leidman, May 2, 1973.

Remarkable 1857-O Quarter Eagle

Condition Census

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491     1857-O MS-62. A specimen of remarkable quality, solidly Condition Census from a numerical viewpoint and, beyond that, a gorgeous little cameo. The obverse is highly prooflike, almost resembling a presentation piece, and the reverse is likewise. The coloration is a warm yellow gold. Here is a piece that has everything.

Although 34,000 1857-O quarter eagles were minted, there was no numismatic interest in them at the time, and virtually all circulated extensively. The appearance of pieces in high grade today is due to remote chance. Often a period of years will elapse between our offerings of a similar piece.

PCGS Population: 5; 1 finer (MS-63).

Date logotype this year somewhat unevenly spaced, with 18 closer together than other figures, with 5 being somewhat distant from the 8 and 7. The 5 in the logotype was shallower in relief than the 18 and the 7, with the result that on all dies made from this logotype the 5 appears to be somewhat lighter—an interesting situation. When the matrix was created for the logotype punch, the figure 5 simply was punched in less deeply than the others.

In this particular die the logotype is nicely centered vertically (measured by the first digit) and also is exceptionally well centered from left and right.

On the reverse a crack extends from the border through the D (past the denomination) to the branch.

From Stack’s Spring Sale, April 1978, Lot 803.

High-Grade 1857-O $2.50

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492     1857-O MS-60. Bright yellow gold surfaces, somewhat prooflike. No doubt struck from metal brought by sea from California. A very pleasing example of an issue that is usually seen in VF and EF grades, rarely higher.

Obverse with date logotype deeply punched into die; lower right of 8 showing nick, or chip, earlier described.

On the reverse the top of the O mintmark is high and is overlapped at the upper left by the arrow feather which extends somewhat into the central space.

Purchased from Mal Varner, August 14, 1972, through the Goliad Corporation.

493     1857-O AU-58 (PCGS). Bright yellow gold. Much lustre remains.

Obverse die with deeply impressed logotype, chip out of lower right of 8; reverse with O mintmark tucked under arrow feather.

From Stack’s Winter Sale, February 1974, Lot 525.

494     1857-O AU-50 (PCGS). Light yellow gold. Much lustre still remains.

Obverse and reverse dies similar to or same as preceding.

From Abe Kosoff’s ANA Sale, August 1968, Lot 816.

495     1857-O AU-50. Bright yellow gold. A pleasing example.

Dies similar to preceding.

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

Beautiful 1857-S Quarter Eagle

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496     1857-S MS-62 (PCGS). Sharply and exquisitely struck with detail present in all areas including the eagle’s leg at lower left. Lustrous, satiny surfaces.

PCGS Population: 4; 3 finer (MS-65 finest).

Date logotype well-centered and deeply punched; tiny chip missing from lower right of 8. Some slight roughness here or there, particularly between stars 7 and 8 and past star 13.

Reverse with tiny clash mark above eagle’s wing past upper right of shield. S mintmark visible in its entirety, the top overlapping the arrow feather; mintmark slightly double punched at lower right.

Purchased from Superior’s sale of February 1973, Lot 196. "From a northern California find, a very rare date in high grade. Almost unheard of in Mint State, probably the finest known."

497     1857-S AU-55. Lustrous and attractive. A very nice example.

Date logotype well centered vertically and horizontally, but slightly closer to the dentils than to the neck truncation. Reverse with upper right of S mintmark embedded in the base of the arrow feather and tilted slightly left.

From Paramount’s sale of November 1971, Lot 1025.

498     1857-S AU-50. Bright yellow gold. Some lustre remaining. Another example of this popular issue.

Obverse as preceding. Reverse from a different die, S mintmark farther to the left and touching the eagle’s claw, but barely clear of arrow. More "open" than on the preceding coin, quite possibly because the mintmark was not as deeply impressed into the die.

Purchased from Rowe & Brownlee, August 4, 1967.

Splendid 1858 Quarter Eagle

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499     1858 MS-64 (PCGS). Lustrous, satiny surfaces. Light yellow gold, no doubt from California. Quite well struck, not needle sharp, but not far from it, either. One of the nicest business strike quarter eagles we have ever seen of this date.

PCGS Population: 5; 1 finer (MS-65).

Obverse with date well positioned. Some die striae extend from upper left to lower right at perhaps a 30° angle from the vertical.

The reverse die shows evidences of clashing and may have been relapped, but with remaining evidence above both wings of the eagle and elsewhere. Striae of nearly vertical orientation are seen, probably from the relapping (not original die preparation) process. At the center, above and to the right of the second pair of stripes, a positioning dot seems to have taken away some of the lowest horizontal shield stripe.

Purchased from William Youngerman, March 14, 1978.

Splendid Mint State 1858 $2.50

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500     1858 MS-62. Light yellow gold. An early striking from dies with prominent striae, exceptionally so. One of the finest business strikes we have seen. Walter Breen comments, "Much scarcer than mintage figures suggest; rare Uncirculated." A find for the specialist.

Date logotype more evenly spaced than for preceding year, quite well done, except that the vertical axes of the 8s are not parallel, the last 8 seems to lean ever so slightly right. On the present coin the logotype is well spaced vertically and is slightly to the left.

On the reverse a center dot is seen at the top of the third "white" vertical shield stripe.

From Stack’s sale of the Myers Collection, November 1972, Lot 563.

Remarkable 1858-C Quarter Eagle

High Condition Census

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501     1858-C MS-62 (PCGS). Light yellow gold. Somewhat prooflike on both sides. A high Condition Census specimen, far finer than the nicest piece known to Douglas Winter in his study. The latter author was aware of just a single Mint State coin, graded MS-60.

Today in 1999, with grade escalation and also resubmissions of coins to certification services, it is not as clear as it was years ago as to the relative importance of a coin in a certain grade. As time goes on, more and more higher grade pieces—those in the AU and Mint State level—will be submitted, resubmitted, and submitted again, with the eventuality that at some future date it will seem that such pieces are plentiful! The truth is, of course, that 10 listings could well represent just one single coin!

As years go on, more and more high-grade coins will be added to the population reports, making the pieces appear more plentiful. The truth is, however, as years go on such high-grade coins become less plentiful, as certain pieces meet varying fates through loss, handling, etc. Thus, 10 years from now high-grade 1858-C quarter eagles—to continue the present example—will be rarer than they are today, although the population figures will make it appear to the uninitiated that more are around!

All of this noted, on an absolute basis the 1858-C at this level is a significant rarity, a numismatic treasure, another find for the specialist.

PCGS Population: 7; none finer.

Date logotype very deeply punched into the die, slightly closer to the dentils than to the neck truncation, and somewhat to the left.

Reverse with upper right of C mintmark embedded in arrow feather. Some die striations on the reverse indicate that this was probably an early impression, a thought amplified by a lack of clash marks (which tend to be common on branch mint coins of this era).

From Stack’s sale of the Scanlon Collection, October 1973, Lot 2083.

502     1858-C EF-40. Light yellow gold. Nick on right hand edge and some other marks including some light obverse scratches.

Dies and states as preceding.

From Paramount’s sale of February 1971, Lot 1027.

Splendid 1859 Proof Rarity

Condition Census

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503     1859 Proof-62 (PCGS). Rich yellow gold surfaces. Some marks account for the numerical grade. A splendid coin, one of only a few Proofs surviving. Walter Breen was able to account for just seven different Proof examples, probably including overlapping appearances of the same specimen.

PCGS Population: 1; 2 finer (Proof-66 finest).

In this year the reverse hub was changed. The hub used on the present piece is that of 1840-1858, with the lowest arrow head very close to the final A (AMERICA), the top two arrow heads touching, etc. The Type II hub was also introduced this year, and has distinguishing differences, including the top two arrow heads separated.

Regarding this Proof 1859, the date logotype is in small figures widely spaced. On this particular specimen it is placed slightly closer to the dentils than the neck truncation above.

Purchased from Stanley Kesselman, April 5, 1971.

Mint State 1859 $2.50

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504     1859 MS-62 (PCGS). Extremely sharply struck, indeed definitive in this regard. Light yellow gold surfaces with satiny lustre. A prize example of an issue which is plentiful enough in lower grades, but which is a major rarity in the grade offered here.

The date logotype is small and widely spaced, just right for the quarter eagle denomination. Many fine die striae are seen at a slight angle from the vertical, indicating this is an early impression.

The reverse is the new hub with arrow heads spaced more widely apart than on the preceding, with the lowest being widely separated from CA (AMERICA) nearby. This general hub was continued and used for the rest of the series. As explained in Breen’s Encyclopedia, there were some transitional issues during the late 1850s and early 1860s involving the use of leftover reverses.

From Abe Kosoff’s sale of the Shuford Collection, April 1962, Lot 1749.

Lustrous 1859 $2.50

Among Finest Seen

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505     1859 MS-62. Breen-1023. Light yellow gold. Very lustrous on obverse and reverse. A pleasing example of the date and grade.

Obverse with date ever so slightly closer to the dentils than to neck truncation. Some striae near the borders, particularly at stars 1-2 and stars 9-11. No doubt this was an early impression.

The reverse of the present piece is from the Type I hub and seems to be an early die state.

From Stack’s sale of the Miles Collection, October 1968, Lot 181.

506     1859 MS-60. Lustrous and attractive. Another high-grade business strike.

Dies similar to or identical to preceding.

From Stack’s Garrett sale, March 1976, Lot 360.

507     1859 AU-50. Much mint lustre still remains in protected areas. Light yellow gold.

Dies as preceding.

From Paramount’s sale of February 1971, Lot 997.

Notable 1859-D Quarter Eagle

Condition Census

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508     1859-D AU-58 (PCGS). An exceptional specimen, a Condition Census piece with many fine attributes. First of all, the grade is elegant, AU-58, which ranks it in the top echelon, as only three or four pieces are believed to exist. Further, and perhaps equally important, the coin has a far above average strike. Harry Bass made special note that the dentils were separated and distinguishable, this being different than the typical coin.

In addition, the piece has a beautiful overall aesthetic appeal—a splendid specimen.

Only, 2,244 were struck, and of this number probably not more than 100 to 200 survive.

Obverse die notably basined. Logotype quite low. Tiny crack or die mark from lower right of digit to corner. Stray punch mark to lower left of 9. Perhaps this is a "misplaced date" and the logotype punch was earlier touched to the border.

On the reverse the D mintmark is deeply impressed into the die and high, with the feather details occupying the upper left 50% of the center. The master die is boldly impressed into the working die, giving the letters and other features special prominence.

From Superior’s sale of February 1973, Lot 200.

Rare 1859-D Quarter Eagle

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509     1859-D AU-50. Rich yellow gold characteristic of Dahlonega Mint issues of the period (save those made from California metal). On the obverse there are some nicks and marks, and on the reverse there are intersecting scratches, a numismatic shame, for otherwise this piece would be truly memorable as to value and grade. A high-grade example from a numerical grading viewpoint.

Obverse with date logotype positioned too low. Reverse of the early (1840-1858) hub with lowest arrow head virtually touching the final A (AMERICA).

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 1844.

Lustrous 1859-S Quarter Eagle

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510     1859-S AU-58 (PCGS). Very sharply struck and quite lustrous. An exceptional specimen of an issue, which, when seen, is usually quite worn. A find for the specialist and connoisseur.

Obverse with date logotype low. A tiny thorn from the border past star 11 will hallmark the die for the interested specialist.

On the reverse the mintmark is immediately distinguishable by having its entire lower portion solidly filled, certainly an unusual situation. The hub is of the early 1840-1848 style.

Purchased from N.K.S., May 1, 1968.

Pleasing 1859-S Quarter Eagle

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511     1859-S AU-58 (PCGS). Light yellow gold surfaces. Lustrous and frosty. Fairly well struck, although with some typical lightness at the eagle’s wing on the left.

Obverse date low. Tiny thorn on rim past star 11.

Reverse with small mintmark, entirely filled so as to create a blob. Old-style hub.

From our sale of the Fairfield Collection, October 1977, Lot 1566.

Another Desirable 1859-S $2.50

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512     1859-S AU-50 (PCGS). Light yellow gold. Another high-grade example of this popular issue.

Obverse with date low, thorn at rim past star 11. Reverse with clear, open mintmark.

From Abe Kosoff’s sale of November 1968, Lot 770.

513     1859-S EF-45. Much mint lustre is still seen on the obverse, particularly in protected areas. The reverse is somewhat prooflike, again in protected areas. An attractive example of the issue.

Date logotype low. Reverse with old-style hub.

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

Lustrous 1860 $2.50

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514     1860 MS-62 (PCGS). Sharply and wonderfully struck, a joy to behold. However, quarter eagles of the second hub (as this one is) do not seem to have the striking problems seen on the earlier issues. Thus, we will withold extensive commentary on subsequent new-hub issues unless there is a situation to the negative (weakly struck). All in all a delightful specimen of this issue.

Date logotype punched lightly into the die. First digit repunched at bottom. The logotype this year illustrates the 8 leaning very slightly to the left, and the base of the 6 considerably higher than the base of the adjacent 0. Die striae are seen from upper left to lower right. No doubt this was an early impression.

The reverse is of the new hub style. Evidences of clashing are seen above both wings of the eagle and occasionally elsewhere. Some roughness, perhaps rust, is seen in the dentils above AM (AMERICA) and elsewhere.

From Rarcoa’s sale of January 1973, Lot 179.

515     1860 AU-58. Highly lustrous. A very attractive specimen. Exceptionally well struck in all areas including the eagle’s leg to the left.

Date logotype quite low, about three times closer to the dentils than to the neck truncation.

From Abe Kosoff’s C.S.N.A. Sale, October 1968, Lot 771.

516     1860 AU-55. Most lustre still remains. Sharply struck and very attractive, the sharp striking being unusual for an early-hub reverse.

Date low, about three times closer to the dentils than to the bust. Reverse with some die finish lines at upper right, possibly indicating an early impression from the die.

From Stack’s ANA Sale, August 1971, Lot 2004.

Attractive and Rare 1860-C $2.50

Final Charlotte Issue

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517     1860-C EF-45. Bright yellow gold as is typical of Charlotte Mint coins. Fairly well struck for the issue, in contradistinction to the typically seen piece. Reverse with what are typically called "planchet defects" but which really were caused by the die (see notes). This is usual for the issue and is mentioned by Douglas Winter. Highly important as the last Charlotte year of the quarter eagle denomination.

An examination of this and the following lot show that the "planchet defects," as they are commonly called, are, in fact, evidence of debris adhering to the die. Date deeply impressed into die and centered.

518     1860-C VF-35. Bright yellow gold. A very nice example. Some irregularities from die debris are seen on the reverse but not extensive.

Marvelous 1860-S Quarter Eagle

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519     1860-S MS-63 (PCGS). Reverse from the early hub, a decent strike, but lacking some minute detail—above average however. Lustrous and attractive overall, a truly memorable example of an issue which is a great rarity at this level. Walter Breen says succinctly: "Usually weak VF. Extremely rare above, only two reported Uncirculated." Today in 1999 the true number of Uncirculated pieces cannot be determined, due to the economic attraction of continually resubmitting expensive and unusual coins to the grading services by which practice a single coin can be listed multiple times. However, Walter Breen was as familiar as anyone with gold coins when he wrote his Encyclopedia in the 1980s (published in 1988), and we must of necessity adopt his comments as indicative of the great rarity of the issue. Moreover, the 1860-S was too late to be included in the S.S. Central America find (that ship having slipped beneath the waves on September 12, 1857), and no examples have been recovered from the S.S. Brother Jonathan (which, in any event, seems to have carried primarily high-denomination coins, with Mint State pieces being concentrated 1863-1865).

PCGS Population: 2; none finer.

Obverse with date logotype very deeply impressed into the die. A dramatic contrast to the lightly impressed Philadelphia die offered earlier.

Purchased from the Goliad Corporation, March 15, 1972.

520     1860-S EF-45. A nice example which displays mint lustre in recessed areas. A particularly desirable example of an issue that is usually seen well worn.

Date logotype low and deeply punched into die. Reverse is of the old hub as used on other San Francisco Mint quarter eagles of the decade.

Purchased from Stanley Kesselman, April 28, 1967.

521     1860-S EF-40. Medium gold with some deeper highlights in the recessed areas.

Date low and deeply punched into die.

From Paramount’s sale of November 1971, Lot 1031.

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522     1861 MS-64. Light yellow gold, probably from California metal. A beautiful specimen with lustrous, satiny surfaces, a piece with a great deal of eye appeal.

Date logotype well centered; deeply punched into the die at the left and right figures (perhaps the logotype was rocked to the left and right when impressed), lighter in the centers.

Reverse is from the new hub, as usually seen.

From Stack’s sale of February 1972, Lot 640.

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523     1861 MS-64. Brilliant and frosty. A very attractive coin.

Date logotype deeply punched and well centered. Obverse field surfaces somewhat satiny as per the original die. The reverse is of the usually seen new hub.

From Superior’s sale of October 1972, Lot 1893.

524     1861 MS-63 (PCGS). An early striking from the die pairs, with both dies showing extensive striations (die preparation marks). The reverse is of the Type I or old hub, and thus is extremely rare (see comments in Breen’s Encyclopedia under 6256). The same writer notes: "Business strikes only. Discovered by Douglas Winter and published in Coin World, October 19, 1993, page 46."

As the reverse die has many preparation lines and shows no evidence of relapping, nor are clash marks present, it may be that 1861 represents its first use to strike coins. If so, then the die had been on hand in a vault since at least 1858.

Purchased from N.K.S., June 6, 1972.

525     1861 MS-63. Brilliant and lustrous as often for this date and mint.

Date logotype high and very distinctly repunched, particularly at the first two digits, less so on the fourth. Apparently the third digit, the 6, was the pivot point. Reverse is of the new hub as usually seen. Traces of a tiny crack at OF.

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

526     1861 MS-62. Lustrous and brilliant. Another nice example of this popular Philadelphia issue.

Date centered and deeply punched. Reverse is of the new hub. Prominent clash marks around the eagle outline the head of Miss Liberty.

Purchased from Julian Leidman, July 28, 1972.

High-Quality 1861-S $2.50

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527     1861-S AU-58 (PCGS). Light yellow gold characteristic of California metal. Type I hub, and quite well struck for same.

Obverse with date logotype deep into the die and slightly closer to the neck truncation than to the dentils. Reverse with large "open" S-mintmark.

From Abe Kosoff’s C.S.N.A. Sale, October 1968, Lot 775.

528     1861-S EF-45. A high-grade example of this San Francisco issue, one which is typically seen at levels such as VF and below.

Date centered. Reverse is of the old hub as always for San Francisco Mint quarter eagles of the decade. Fairly decently struck, with just slight lightness on the eagle’s leg to the left.

From Stack’s Metropolitan Sale, May 1968, Lot 750.