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

124     1845 MS-62. A frosty and satiny specimen with the overall appeal of a slightly finer grade.

Obverse with logotype high, 1 in date virtually touching truncation. Crack connects stars 3 through 6. Reverse with extensive cracks including from dentil through 2 of fraction to eagle’s 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), with other faint cracks beginning in various places. The die is on the verge of shattering, and could not have been employed long after this piece was struck.

From Stack’s sale of January 1974, Lot 507.

125     1845 MS-62. Lustrous orange-gold with some deeper areas of toning present. Nicely struck from lightly clashed dies; the reverse die is cracked in several places. An aesthetically appealing example of a plentiful issue.

From essentially the same die states as the coin in the previous lot. The interesting clash marks and cracks provide additional appeal to quarter eagles and other coins of this era.

126     1845 MS-61. Lustrous honey gold. A small area of diagonal planchet lines, from the planchet rolling process, as struck, can be seen across Liberty’s portrait.

From essentially the same die states as the coins in the previous two lots. Harry W. Bass, Jr. enjoyed gold coins immensely, and often acquired duplicates, triplicates, and even quadruplicates of a single date, mint, and even die state. Thus, the present sale "releases" into the market many pieces that had been unavailable for a generation.

From Lester Merkin’s sale of September 1967, Lot 307.

Attractive 1845-D $2.50

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127     1845-D AU-50. Lustrous yellow gold with a touch of olive. Struck from lightly clashed dies. Typically found VF to EF, with AU specimens such as offered here occasionally available as well.

Obverse with date logotype extremely close to and nearly 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 "by hand" processes in die making of the era. Reverse with D mintmark into arrow feather, but with no traces of the feather within the opening. Lower left serif of D touches 1 in denominator. Moderately heavy clash marks are observed around the eagle, particularly at the upper right of the shield.

From Stack’s sale of May 1968, Lot 699.

Elusive 1845-O Quarter Eagle

Historically Famous

No Recorded Mintage Figure

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128     1845-O AU-58 (PCGS). Lustrous yellow gold with a hint of olive toning. Repunched 18 in date, a diagnostic for this rarity. From a small mintage for the date, believed to be just 4,000 pieces, although no record of the date’s production is found in Mint records of the year. "Usually in low grades; extremely rare in EF, prohibitively rare above," wrote Walter Breen in his Encyclopedia (1988), a notation that still holds true today. Among the finest known examples of the date; in fact, this specimen is finer than the three specimens we offered in Part II of the Harry W. Bass Collection (October 1999), all of which were certified AU-55 by PCGS. A truly landmark quarter eagle rarity is about to cross the auction block, and we expect a bustling flurry of bidding activity when it does.

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

The fame of the 1845-O dates back to the 1890s, when serious collectors of that era were somewhat surprised to find that the date existed. A notation in the December 1894 issue of The Numismatist, included the following: "Quarter eagle pieces of 1845, New Orleans Mint, have lately been found, although no coinage that year appears in the Mint Report." For years thereafter, the appearance of an 1845-O quarter eagle at auction was a matter for celebration, and much ink was used in descriptions. Later, it was realized that dozens existed, and that while the issue is scarce, it is hardly a landmark rarity. If the successful bidder of this lot would like some historical citations, a note to the editor (QDB) will be sufficient. Today the mintage figure of 4,000 is published and may or may not be correct.

On this die, the date is somewhat to the left, and heavier at the 1 and the 8 than at the 4 and the 5, the last numeral being noticeably thinner than the others. The numerals are fairly well centered between the bust and the dentils, with the latter being slightly cut away under the first digit to accommodate it. From an early state of the obverse, with the 1 and 8 plainly repunched; this later fades substantially from the die, leaving little or no trace in later coins. At the left border between the first digit and star 1 are some prominent diagonal die finish lines, scaling upward horizontally like some tiny garden ladder.

On the reverse the O mintmark overlaps the feather and also is impaled by the top end of the fraction bar (not the numerator—the top numeral in a fraction—as erroneously noted in the Winter reference). In the shield, nearly all the vertical lines extend upward through the horizontal stripes.

From Stack’s sale of December 1970, Lot 83.

129     1846 AU-53. Lustrous honey gold. A nicely struck coin, and a pleasing specimen for the grade.

The date logotype is distinguished by having the 6 heavier and taller than the other three digits, and also leaning slightly to the right. The crossbar of the 4 is oriented slightly upward to the right.

It was apparently "amateur night" at the Philadelphia Mint for much of 1846, at least in the date logotype preparation department, as punches differ in size and quality across the different denominations in copper, silver, and gold. Sometimes the date numerals appear short and squat with irregular shapes, other times tall with thin numerals (a good case in point being the Medium and Tall Date varieties of 1846-O half dollars; various others could be just as easily cited). There seems to be no rhyme, reason, or consistency for the date logo punches of this date.

Purchased from Stanley Kesselman, April 28, 1967.

Impressive 1846-C $2.50

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130     1846-C AU-58 (PCGS). Lustrous honey gold with faint orange highlights. Struck from clashed and rusted dies. From a small mintage for the date of just 4,808 pieces, with most of the surviving specimens from that mintage in VF or EF; AU examples are very rare. Douglas Winter called this date: "Rare and underrated." Choice for the assigned grade, and a landmark offering at this grade level.

PCGS Population: 2; 8 finer (MS-64 finest).

The date logotype is small and is about centered between the dentils and Liberty’ portrait. The upright of the 4 leans to the right, and that numeral seems marginally smaller than the other date numerals. The 6 also leans right, and seems larger than the other numerals. During the year 1846, there was a big "problem" at the Mint regarding date sizes and shapes, and a number of notable varieties were created. The present logotype may have been made by a novice in the die department.

The surface of the coin shows extensive rust marks (translated into the raised areas on the struck coins; the rust marks were recessed in the die), particularly in the lower area around the date, where it is plain between the first star, across the date, and then to the final star, as well as at the fourth through eighth stars. Several raised lumps of varying size are seen in the field, the largest of those above star 13.

On the reverse, the C mintmark is very high and about half embedded in the branch and arrow feather. Moderately heavy clash marks are seen around the eagle, most intensely above the upper right corner of the shield. Raised lumps from die rust are seen there as well, most prominently below the first T in STATES, and below the eagle’s right (viewer’s left) wing. Other lumps can be seen in and around the denomination. Die striae are evident and probably in this instance are a result of relapping in the machine shop at the Charlotte Mint, not from original die preparation.

Purchased from Stanley Kesselman, May 28, 1967.

Delightful 1846-D Quarter Eagle

Normal D Mintmark

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131     1846-D Normal Mintmark. AU-58 (PCGS). A lustrous honey gold specimen with plenty of brilliance present on both sides. Nicely struck. A popular date from Georgia’s famous mint. Raised diagonal die striae run from 11:00 to 5:00 on the reverse, with other die finish lines radiating from the tops of most of the letters in the legends outward to the rim. About as nice as the advanced collector can reasonably hope to acquire for an 1846-D—combining a generous measure of eye appeal with a high grade, certainly among the finest at its numerical level and in terms of complete satisfaction, quite possibly finer than some graded higher.

PCGS Population: 10; 3 finer (MS-63 finest).

Breen-6184. Normal mintmark; another variety is known with a broadly repunched D mintmark.

In Gold Coins of the Dahlonega Mint 1838-1861, Douglas Winter enumerates four distinct reverse varieties for this date. One of those, variety 7-J, is the variety with doubled mintmark; the other three reverses all have the "normal" D mintmark. The variety offered here corresponds to Winter’s reverse 7-I.

Obverse with low date, much closer to dentils below than to truncation above. The date numerals are relatively thin and well formed for an 1846 issue. Lower left serif of 1 in date centered over a dentil. On the reverse, the mintmark is nicely centered between the olive branch and the eagle’s claw. The top of the D touches the lowest feather and the shaft, with no details of either showing in the hollow center of the D. The fraction bar tapers to a point and ends below the D, on a line with the inside upright of the mintmark. Virtually all of the vertical shield lines pierce the horizontal lines above.

From Lester Merkin’s sale of September 1967, Lot 310.

Another Impressive 1846-D Quarter Eagle

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132     1846-D Normal Mintmark. AU-55 (PCGS). A lustrous yellow gold specimen, free of all but some trivial marks. Struck from lightly clashed dies. A thoroughly pleasing example of the grade and date. A very rare variety, struck from completely different dies than the preceding lot (see note below). According to the Winter reference, "An example of this variety was discovered in 1996 in the Pittman Collection (and published in 1998). It appears to be very rare."

Breen-6184. Normal mintmark; another variety is known with a broadly repunched D mintmark.

Obverse with low date, lower left serif of 1 over a space between dentils, 184 in date broadly repunched, the remnants of the first numerals higher than the primary numerals. The dentil below the 1 has been lightly reshaped to receive the numeral. This particular obverse is not listed by Winter. On the reverse, which corresponds to Winter-8K, the D mintmark is high and embedded in the feathers, distant from the claw and touching the olive branch. Feather details show within the center and in the field behind the upright of the D. The end of the fraction bar is squared and ends directly below the center of the upright of the D. No vertical shield lines penetrate to the horizontal lines above.

In the Pittman Collection catalogue, May 1998, Lot 1753, David Akers quoted John McCloskey, a specialist in early U.S. gold issues: "I am amazed by this piece. I own examples of three other varieties from three different reverses and this piece doesn’t match any of them. On the obverse, the 6 in the date is centered in the field between the neck and the denticles. All three other varieties have a low date with the 6 closer to the denticles. This variety would have to be very rare."

The collecting of Dahlonega Mint quarter eagles by die varieties is a rather obscure pursuit, but one that is a fascinating endeavor, the desirability of which is enhanced the fact that today on the market there is not much differential made between a scarce die combination and a common one, within a given date. As time goes by, more numismatists are discovering the excitement of examining under magnification dies such as described here, observing their idiosyncrasies not only in their manufacture but in their later use, and relating them to other dies in the series. Today in the year 2000, studies of dies have been popular for a long time in such series as copper and silver coins, often detailed in specialized articles as Penny-Wise, the JRCS Journal, and The Gobrecht Journal. There is no specifically dedicated forum at present for the sharing of information on gold coin die varieties of the 1840s, and perhaps this indicates a possibility for someone.

In the entire study of American gold coins the editor (QDB) has come to realize that there is a great need to interrelate denominations, die punches, and letter punches—as many were used on more than one denomination. Some beginning in this direction has been made by Dr. John McLoskey in The Gobrecht Journal, but mostly in relation to Liberty Seated silver coins. The entire field is one that is begging for detailed study, perhaps most easily accomplished by creating a grid listing different number and letter fonts and denominations, and filling in spaces to indicate where they were used.

Purchased from Paramount, March 31, 1967.

A Third 1846-D $2.50

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133     1846-D Normal Mintmark. AU-50. Lustrous, partially the result of a light brushing, partially a natural occurrence. Still attractive overall, in fact, above average for this date, mint, and grade level. Winter-7G, from a reverse die that differs from the previous lots, and is called "rare" in the Winter reference. This reverse was also used in 1843, 1844, and 1846.

Breen-6184. Normal mintmark; another variety is known with a broadly repunched D mintmark.

Winter-7G. Obverse with low date, much closer to dentils below than to truncation above. The date numerals are relatively thin and well formed for an 1846 issue. Reverse with mintmark high and tilted dramatically left, top serif touches claw, top of D virtually touches olive branch. Feather details fill upper half of D, but do not extend beyond the upright. Top of fraction bar squared and evenly centered below the middle of the D. Several vertical shield lines extend upward through the horizontal lines.

Purchased from Mike Brownlee, April 17, 1967.

134     1846-O AU-55. Lustrous yellow gold with olive iridescence. Reverse die alignment 90° instead of the normal 180°. A very attractive specimen with a lot of "life"—lustre, frost, and a nice overall appearance. Head and shoulders above the typical surviving example of the 1846-O which averages VF grade.

On a specimen with "normal" or 180° die alignment, the eagle’s head would point to the 12:00 position.

The obverse displays the logotype punched very deeply into the die, exaggerating the strength of the last two digits. Repunching within the last digit, seemingly B-6186, "overdate," described as "Repunched 4, microscopic traces of 4 within 6" in Breen’s Encyclopedia (1988). Regarding those characteristics, 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…" What is the stub under the 6 in the date? Upon examination of this piece (as well as others from this logotype punch), it appears the logotype was shifted and repunching occurred. A small line in the top of the 6 certainly resembles the diagonal from a 4, but within the base of the 6 the repunchings are all curved or circular in appearance, indicating a repunched 6, not a 4. Related repunchings, differing in some detail, occur among other dies (but not for the just-offered 1846-D quarter eagle).

Reverse with O mintmark high.

135     1846-O AU-50. Bright and lustrous honey gold. Very faint "seawater" surfaces, quite possibly a Mint State coin that was recovered from a sunken ship. A very beautiful specimen, far nicer than usually seen.

From the same dies as the preceding lot.

Purchased from Jack L. Klausen, September 14, 1967.

136     1847 Repunched 18. AU-58 (PCGS). Bright and lustrous honey gold with prooflike reflectivity in the protected areas. A scarcer date than its mintage of 29,814 business strikes implies, particularly so in AU or finer, where rare becomes the operative word. Another specimen with a lot of "life," a lot of "personality," a piece that was selected by Harry Bass as one of the finest seen. A thoroughly satisfying example, one that will delight its next owner.

Breen-6188. "Heavily repunched 18."

Obverse with large date logotype, top of first digit embedded in the bust of Miss Liberty, touching a dentil, and double punched at the bottom. The upper right corner of the 7 just touches 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 laying at the doorstep of James B. Longacre, although in all probability a novice Mint employee was responsible (especially in view of the fact that major errors in date logotypes began occurring in a significant way in the year 1843, which was a year before Longacre was hired at the Mint).

On the reverse a crack bisects the die, extending from the dentils through the 1 of the fraction, through the eagle, and then out through the wing tip at the upper right to the dentils.

From Abe Kosoff’s sale of the Shuford Collection, April 1968, Lot 1737.

137     1847 Repunched 18. AU-53. Warm honey gold. A second pleasing specimen of a popular date.

From the same die pair as the previous lot.

From Stack’s sale of May 1972, Lot 1626.

Popular 1847-C Quarter Eagle

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138     1847-C AU-58 (PCGS). Lustrous yellow gold. An attractive coin for the grade. Struck from lightly clashed dies. Raised die finish lines can be seen around Liberty’s portrait. One of the more available Charlotte issues, a variety that is seen with some frequency at the AU level and even in Mint State. Accordingly, the present piece offers an opportunity to the systematic collector of Charlotte coins as well as someone who might enjoy having a C mintmark quarter eagle in a basic type set, as the value of the coin is in the low four-figure range.

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

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. Light clash marks visible on the reverse. Die finish lines run diagonally above and through MERIC. Two tiny lumps, caused by die rust, appear at the fraction, one below the numerator, the other to the viewer’s left of the denominator.

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. All of the examples of this date in Part II of the Harry W. Bass, Jr. Collection, as well as the specimens offered in this sale, are from a single set of dies.

From Abe Kosoff’s sale of the Shuford Collection, April 1968, Lot 1815.

139     1847-C Net AU-50; sharpness of MS-60, lightly cleaned. Medium yellow gold. An attractive coin overall despite a few scattered marks—as even a quick in-person examination will reveal. In terms of quality—lest someone be frightened by our "lightly cleaned" comment—the present 1847-C is about the average seen in specialized Charlotte collections over the years.

From the same dies as the previous lot but with signs of heavy rust present on the reverse. The rust at the fraction appears as several raised lumps around the numerals and the D of the denomination. Other sizeable patches of rust can be seen at the N of UNITED, below the eagle’s right (viewer’s left) wing, below the first T of STATES, and at NI in UNITED.

Interestingly enough, there are no die cracks from the eagle’s wing tips, as noted in the previous lot. Conversely, there are no die finish lines at MERIC. Evidently, the specimen offered here is thus from an earlier state of the die, but with prominent rust features which must have been removed by lapping from the later state described earlier. The coin in the previous lot is from the later state of the die, after the rust has been worked out of the die. This would seemingly account for the heavy die finish lines at MERIC on that specimen, as well as the die cracks at the wings; they probably appeared after the die had been placed back into use after being "relapped." A coin such as this can be studied for a long time, and every once in a while a new insight is gained.

From Abe Kosoff’s sale of October 1968, Lot 748.

Attractive 1847-D $2.50

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140     1847-D AU-55 (PCGS). A lustrous yellow gold specimen with some prooflike reflectivity in the fields. A thoroughly attractive, high-grade example of this Dahlonega Mint issue.

Only one die combination is known for this date. Obverse with date logotype high, 1 and 7 piercing the neck truncation, both free from the dentils below, but still quite crowded—simply because the logotype this year was too large to comfortably fit on the quarter eagle. Many raised die finish lines are evident; one particularly prominent line connects the second and third stars, terminating near the fourth star. Faint traces of clash marks are noted on both sides. What may be the vestige of previously punched numerals can be seen at the bases of the 4 and 7 in the date. D mintmark touching the olive branch and claw, with the interior of the mintmark half-filled by the arrow feathers. Many prominent raised finish lines are seen, especially at NITED and STAT. Apparently on the first try the date logotype was positioned slightly to the left of the final, as there are tiny raised artifacts to the left of the bases of the 4 and the 7.

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

141     1847-O AU-50. Lustrous deep honey gold with much mint brilliance in the recessed areas. A date that is mostly found in VF or so. Douglas Winter called this date "much scarcer than its relatively large mintage figure would suggest," also noting that the date is "very rare in About Uncirculated."

Obverse with date high, the 1 and 7 piercing the neck truncation; lower left of 1 barely touches a dentil. 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. A faint crack runs from the top of Liberty’s head to the star immediately above.

On the reverse the O mintmark is clear at its center, save for a tiny nuance of feather detail 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, extending to the viewer’s right and to the arrowheads as well.

Purchased from Rowe and Brownlee, June 25, 1968.

Important 1848 Quarter Eagle

An Unsung Rarity

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142     1848 AU-50. Warm orange-gold with substantial lustre present. Somewhat prooflike in the protected areas. An unsung rarity. Only 7,497 business strikes of the date were produced, with survivors from that small mintage typically found in VF or so.

Walter Breen noted that "the rarity of this date has been recognized since about 1958, when J.F. Bell circulated want lists including this date; dealers found none in stock, and the hunt was on." However, the historical record reveals many comments in the same vein made earlier by other people.

Over a long period of time, the 1848 has been ignored due to the status of its sister coin, the famous 1848 CAL. It might come as a surprise to learn that the piece offered here is significantly rarer at the AU and Mint State level than is the CAL. variety! A rare, important quarter eagle that is deserving of a high bid.

Date high, top of 1 touches truncation above, all numerals away from dentils below. On the reverse, fairly heavy die striae are noted in the reflective fields, running uniformly from 4:00 to 10:00.

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

143     1848-C AU-58. Bright yellow gold with lively olive highlights. Fully prooflike in appearance, with frosty motifs and reflective fields. Proof surface within the shield on the reverse. To be technical about things—as we try to do in our cataloguing, the piece was lightly brushed at one time, but most would not even mention this, and overall the coin is still very choice and has a generous measure of old fashioned eye appeal. Moreover, it is an above average strike, with just a hint of lightness here and there. All told, this is an exceptional 1848-C! As a parting comment, we note that Douglas Winter observed that the 1848-C is "Characterized by an uneven strike. Many pieces are particularly soft at the center, the stars, and the hair above Liberty’s forehead." The present coin is a pleasing exception—the precise reason why Harry Bass added it to his collection.

Obverse with high date, top of 1 touching truncation above, all numerals free of the dentils below.

From the reverse die used in 1846 and 1847, with rust noted near the fraction on the reverse. The tiny die breaks from the points of the eagle’s wings have now advanced; the crack at the eagle’s left (viewer’s right) wing now runs through the wing, jutting to the horizontal and joining the next-to-lowest horizontal shield line.

From Stack’s sale of March, 1976, Lot 350, later acquired by Harry Bass in a trade transaction.

Lustrous 1848-D Quarter Eagle

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144     1848-D AU-55 (PCGS). Lustrous yellow gold. A pleasing coin overall, with a few negligible marks noted for accuracy. Struck from a reverse die rotated to the 220° position (instead of the normal 180°). The scarcer of two die varieties listed by Douglas Winter. While the basic appeal of this lot is for someone seeking an 1848-D quarter eagle, its die variety makes it even more interesting.

Obverse with high date, 1 touching truncation above, nearly touching dentils below. Final 8 in date distant from truncation, close to dentils. Winter’s reverse 10-L, D mintmark high, opening in D half filled with feather details. The tip of the fraction bar extends to a point below the center of the D. On this specimen, a faint die crack runs from the rim at 3:00, crossing the left upright of the M, then crossing the eagle’s wing and terminating in the feathers there.

From Superior’s sale of February 1973, Lot 162.

145     1849 AU-50. Lustrous honey gold. Lightly cleaned long ago. Bright, and fairly attractive overall.

With an interesting area of significantly raised die lines at the dentils beneath the date, quite possibly why Harry Bass bought the coin. Reverse with die striae in a vertical position. Some little digs on the reverse, scarcely noticeable except under magnification, at the upper left corner of the shield.

From Abe Kosoff’s sale of August 1968, Lot 803.

Impressive 1849-C Quarter Eagle

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146     1849-C AU-55 (PCGS). A satiny and lustrous honey gold specimen with plenty of mint frost in the recessed areas. Struck from clashed dies. Somewhat prooflike on both sides, with fairly obvious planchet striae in the fields. An underappreciated rarity, a date that is considerably more elusive in AU than its low mintage of 10,220 pieces indicates. "Usually VF or EF; prohibitively rare AU" wrote Walter Breen regarding the issue, and that statement still rings true today. "Any 1849-C quarter eagle grading Extremely Fine or higher is rare" wrote Douglas Winter. A great rarity at this level, with just a few pieces known in a finer grade. In fact, only two Mint State examples of the date have been certified by PCGS, one of those being from our sale of the Harry W. Bass, Jr. Collection, Part II (October 1999, Lot 422). Yet another splendid opportunity for the advanced quarter eagle collector.

Some extraneous "material" is seen around the 49 in the date, suggesting repunching, but in fact a characteristic of the basic date logotype and used on all dies from all mints (although on light impressions of the logotype into the die—of which this is not one—the material is not as evident).

PCGS Population: 7; 5 finer (MS-63 finest).

Extraneous lines and roughness around the 49 in the date, suggesting repunching. Reverse with obvious clash marks around the eagle’s head; that area of the coin shows off the die striae to full advantage. C mintmark high in crotch of branch, overlapping the claw and feathers, touching the branch above. The back edge of the lowest feather closes the front of the C. The fraction numerator is centered nearly under the C mintmark above, being just slightly left of center.

From Abe Kosoff’s sale of the Shuford Collection, April 1968, Lot 1817.

Attractive 1849-D $2.50

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147     1849-D AU-55 (PCGS). Lustrous medium yellow gold with some olive highlights. Nicely struck, with fairly full details present in all places except the reverse dentils at 3:00 to 6:00. A scarce date with a modest mintage of 10,945 pieces; most of the survivors from that number are VF, with some smaller proportion at EF. At AU or higher, the scarce changes immediately to rare.

Obverse with high date, 1 much closer to bust than dentils. Logotype artifacts around 49 in date, as is common. Date slopes progressively downward from left to right. D mintmark high and touching branch, inner loop of D about half filled with feather details. Tip of fraction bar under right inside upright of D.

From RARCOA’s sale of August 1970, Lot 1463.

148     1850 MS-62. Lustrous medium gold with a prooflike appearance. Reflective fields display diagonally aligned striae to their fullest advantage. Some lightness of strike present on both sides. Very attractive for the assigned grade. Perhaps lightly brushed long ago, with a few marks here and there—not at all unusual for the MS-60 grade. A very pleasing coin from an aesthetic viewpoint, one of the nicest seen. The specialist will be quite content to have the 1850 niche in his collection filled by this coin.

Obverse with logotype placed low, lower left serif of 1 nearly touches dentil, top of 1 distantly separated from point of bust above, top of 0 in date distant from truncation, very close to dentil. An obverse die crack begins very faintly at the rim between stars 9 and 10, becoming bolder in the field as it juts toward the back of Liberty’s hair bun. It passes through the upper loop of her bun, piercing the third lowest bead in her hair tie, then passing through her hair, the Y of LIBERTY, and the curls just below her ear. The crack then crosses her neck, terminating on the point of her bust.

Purchased from Rowe and Brownlee, May 7, 1969.

149     1850 MS-60. Lustrous honey gold. Cleaned long ago with a few scattered marks noted for accuracy. Visibly finer to the unaided eye than the description implies.

Obverse with high date, top of 1 nearly touches truncation, lower left serif of that numeral relatively high above space between two dentils. The top of the 0 is distant from the truncation and much closer to a dentil at the bottom than is the 1. On the reverse, the second stripe in the second pair of vertical stripes is thin and attenuated, almost missing completely at its bottom.

From Stack’s sale of the Miles Collection, October 1968, Lot 148.

Rare 1850-C Quarter Eagle

Winter: "Extremely Rare"

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150     1850-C AU-50. Warm orange-gold with some deep orange highlights present in the protected areas. Regarding this date, Douglas Winter noted: "Specimens which grade About Uncirculated are extremely rare." Only 9,148 examples of the date were struck, and most of the survivors from that mintage are in the VF range. A great opportunity.

Obverse with date logotype deeply impressed into the die (quite a contrast with the preceding lot—as even a quick comparison will verify), with centered date slightly to left, 1 infinitesimally closer to dentil than truncation. The 0 is centered nicely between the truncation and dentils, and is marginally lower than the other digits. The C mintmark is well centered between the claw and branch, high, with the lowest tip of the arrow feather visible at the top of the opening in the C. The tip of the fraction bar is centered below the middle of the mintmark and nearly touching it.

From Stack’s sale of May 1971, Lot 1234.

Outstanding Mint State 1850-O $2.50

Among the Finest Certified

Winter: "Probably Most Underrated"

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151     1850-O MS-62 (PCGS). Highly lustrous yellow gold with some iridescent olive toning highlights. A few faint marks account for the assigned grade. Douglas Winter called this date "Probably the most underrated New Orleans quarter eagle in AU-50 and higher grades." A notable rarity in AU, with Mint State specimens of the date exceedingly rare; we estimate perhaps just five to 10 are known at MS-60 or finer. For the record, the only finer specimen of this date we have handled was—what else?—the specimen in our sale of Part II of the Harry W, Bass, Jr. Collection (Lot 435), formerly in the Louis E. Eliasberg Collection (which we also sold). Here is an opportunity that may not be repeated for a considerable length of time, and we suspect alert bidders will do their homework accordingly.

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

For the specialist interested in die varieties, the date logotype provides an interesting and somewhat scarce (in the quarter eagle series) illustration of the die making procedure: the logotype was punched very deeply at the upper left corner of the date, and lightly at the lower right, affecting the depth and boldness of the numerals accordingly. With the top of the 1 being very deep and heavy in the die, the bottom being lighter, and the lightest of all numerals being the final digit, the 0. A truly fascinating piece from a technical viewpoint. The 1 is fairly well centered between the bust and the dentils; the 0 is slightly closer to the neck truncation than the dentils.

A small chunk has fallen from the die at 12:00 on the rim, causing a cud to appear there. Perhaps most curious about the obverse is the apparent buckling of the die at the date area.

When the coin is held at an angle to the light, there is a slight bulge or buckling under the 18 numerals, perhaps from the overly aggressive deep punching of the logotype—but awaiting confirmation with the examination of additional specimens from this die to see if all have the same characteristic.

On the obverse, a substantial chunk of the die has fallen away on the flat rim comprising most of the area from opposite star 7 to star 8, another unusual feature hardly ever seen on any gold coin of the era. On the reverse, The O mintmark is high and well centered, and touching the branch and claw above. A small portion of the feather details can be seen in the hollow center of the O.

Although the present 1850-O stands tall and proud as a Mint State example of an issue which is scarcely ever seen in this grade, in our opinion the technical aspects are just as interesting, and any owner of a coin who appreciates studying his or her possessions will delight in the acquisition of this memorable piece.

Purchased from the Goliad Corporation at an unspecified date; ex our sale of the Fairfield Collection, October 1977, Lot 1522.

152     1850-O Recut 5. AU-55. Lustrous honey gold. Some lightness of strike present at the centers, as usual for the date. "Extremely rare in AU," according to Walter Breen, and Douglas Winter called the date "A genuinely scarce and very underrated issue." A nice example of an elusive branch mint issue.

Obverse with date logotype significantly to the right, with the first digit about equidistant between the dentils and truncation, flag of 5 repunched on its under side, all that remains from what, obviously, must have been a wider repunching, as a single number on its own cannot be repunched solo. On the reverse the O mintmark is high and has just a whisper of feather detail at the upper right of the interior.

Purchased from Stanley Kesselman, May 21, 1968.

Lovely 1851 Quarter Eagle

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153     1851 MS-64. A superb specimen for the grade, with strong cartwheel lustre on satiny golden surfaces. A few insignificant marks are all that keep this from a finer grade designation; perhaps we are being conservative in our judgment of this near-pristine beauty. A plentiful issue in lower grades, but at the MS-64 level, combined with the magnificent eye appeal of the present piece, a rarity.

With regard to varieties, Walter Breen noted 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.

Flag of first 1 in date slightly right of point of Liberty’s bust, top of that numeral embedded in the truncation, bottom of the numeral just misses touching the dentil below. Top of the final 1 distant from truncation, touching dentil below which has been partly cut away to accommodate the numeral’s base. Reverse from a perfect die.

Any quarter eagle collector desiring to become immersed in the fascinating (in our opinion) world of logotype variations need but study the size and numerals of the wide, open, and somewhat large 1851 date logotype with the small and compact 1849 logotype.

From Lester Merkin’s sale of March 1969, Lot 45.

154     1851 MS-63. Lustrous yellow gold with a hint of olive iridescence. A pleasing representative of the date and grade.

Obverse with high date. Flag of first 1 even with tip of Liberty’s bust, top of that numeral embedded in the bust, bottom of the numeral fairly distant from the dentils. Second 1 in date midway between truncation and dentils, perhaps a shade closer to the latter. On the reverse, a thin network of spidery die cracks meanders through the tops of much of the peripheral legends.

Purchased from the Goliad Corporation at an unspecified date; ex our sale of the Fairfield Collection, October 1977, Lot 1526.

155     Quartette of MS-62 quarter eagles: I 1851. Lustrous yellow surfaces with just a touch of rose at the obverse rim I 1852. Lustrous with pale olive green toning at the peripheries I 1853. Lustrous, faint copper spots on obverse and reverse I 1854. Lustrous with orange toning at the peripheries. A truly delightful group of quarter eagles—one that will be a joy to own. Each one bespeaks quality, a characteristic of most all coins in the Bass cabinet. (Total: 4 pieces)

156     Half dozen quarter eagles grading AU-58, except where noted: I 1851. Frosty lustre I 1852. Lustrous I 1853. Frosty surfaces I 1854 AU-55. Yellow surfaces I 1855. Lustrous I 1856. Subdued lustre. Another very nice group of thoroughly attractive examples, each being above average for its grade. (Total: 6 pieces)

Scarce 1851-C $2.50

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157     1851-C Net AU-50; sharpness of AU-55, cleaned. Lustrous honey gold with a hint of orange. Lightly cleaned long ago. A few scattered marks are noted. A brilliant piece that is quite attractive, one that is about average for an 1851-C at this grade level—as a visual inspection will verify.

Walter Breen reported that of three pairs of dies available for quarter eagle coinage this year, just three pairs were sent from Philadelphia to Charlotte anticipating the coinage of this year, but just one die pair is known to have been used.

Date logotype lightly impressed into die and quite far to the left, with the tip of the first 1 embedded into bust of Liberty, flag of that numeral even with point of the bust. The base of the 1 is fairly distant from a dentil, but seemingly connected to it with a very light die line. The base of the second 1 is nearly equidistant between the truncation and the dentils.

Reverse with C mintmark high and overlapping the claw, upper serif touching branch. The back of the lowest feather closes the opening of the C.

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 1819.

Underrated 1851-D $2.50

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158     1851-D AU-50. Warm orange-gold with deeper highlights in the protected areas. A few scattered marks are seen, but the overall quality is still quite strong. Regarding this date, Douglas Winter wrote: "In my opinion, the 1851-D is one of the more undervalued Dahlonega quarter eagles." He also notes the date is rarer than the 1849-D or 1850-D issues, especially in AU or finer. The mintage for the date is 11,264 pieces, a modest figure for the Georgia mint.

The circulation for this date was extensive, with the result that the typical specimen encountered today is apt to be VF or EF, with a higher grade occasionally encountered.

The date logotype is deeply impressed into the die, giving the numerals a bold aspect. At this point the editor (QDB) interjects a thought: it seems to be more or less characteristic that Charlotte and Dahlonega gold coins of this era have more deeply impressed logotypes in the die than do their Philadelphia Mint cousins. Might it be the case that this was deliberate, so that dies sent to these distant mints could be resurfaced once, twice, or even more often, and still retain the bold date? In contrast, dies at Philadelphia could be replaced quickly and did not need to be relapped (and rarely were in this era).

Orientation of the 1851 date is slightly low and too far to the left, peak of the first 1 embedded in the bust, lower left serif of the same digit touches a dentil. A little dash or serif-like raised element is at the lower right of the 5—probably a stray impression from a corner of the date logotype, although so delicate it may have been from another punch. To the uninitiated these may seem to be defects, but all authentic examples of the date have them and thus they serve as important diagnostics. On the reverse some light clash marks can be seen at the junction of the eagle’s neck and wing at the upper right corner of the shield.

All authentic examples of the 1851-D have these characteristics, and thus they are diagnostic.

From Stack’s sale of May 1972, Lot 1638.

159     1851-O Doubled Date. AU-58. Lustrous honey gold with a few scattered marks. Plenty of mint brilliance present on both sides. A popular New Orleans Mint issue, a date that is fairly plentiful in all grades up to EF; in AU the date becomes quite scarce, and Mint State pieces are extremely rare. "This date is rare and undervalued in About Uncirculated," wrote Douglas Winter, a statement that echoes our own findings. From an early state of the obverse die.

Breen-6214. "Date first punched slanting down to right, then corrected level."

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

The logotype was lightly punched into this die, giving it a significantly different appearance than the logotype on the 1851-D just offered (although the logotype punch was the same, the differences are so dramatic due to the depth of punching that a casual observation may seem to be quite different).

The reverse die shows some very minor evidence of clashing.

Purchased from Aaron Gozan, February 28, 1967.

160     1851-O Doubled Date. AU-55. Lustrous. A second attractive example.

Breen-6214. "Date first punched slanting down to right, then corrected level."

Late obverse die state, this showing only traces of an earlier logotype at the stand of the final 1 in the date.

The reverse die shows some very minor evidence of clashing.

Purchased from Don W. Jensen, June 22, 1967.

161     Grouping of quarter eagles dated in the 1850s: I 1852 AU-58. Lustrous with obverse die cracks I 1853 AU-50. Reddish orange toning at the rims I 1854 AU-55. Lustrous I 1854-O AU-55. Yellow gold surfaces I 1855 AU-58. Lustrous yellow gold surfaces. Another delightful group—each one having a very generous quotient of old-fashioned eye appeal. (Total: 5 pieces)

162     Grouping of About Uncirculated quarter eagles: I 1852 AU-55. Lustrous. Interesting die breaks at lower obverse I 1853 AU-50. Orange-gold surfaces. Die breaks through the date and star 1; tracery of breaks at upper left of reverse I 1854-O AU-53. Yellow gold surfaces. Seemingly struck from a die that was kept in the presses slightly longer than optimally, with wear or stress marks around the dentils on both sides—probably why Harry Bass acquired it I 1856 AU-53. Pale magenta toning at the peripheries. A perfect die I 1857 AU-55. Lustrous. Hints of a die break at the top of the reverse—in its incipient stage. Another very pleasing group—one that will afford a great deal of enjoyment to its owner. (Total: 5 pieces)

163     Half dozen quarter eagles: I 1852 AU-50. Copper spots visible on the reverse I 1853 Double base of 1. AU-50. Lightly brushed I 1854 AU-50. Lightly brushed I 1854-O AU-50. Lightly polished I 1856 AU-53. Lightly polished. Date logotype high and to the left, creating an off-balance appearance to the die I 1860 Type II Reverse. AU-50. Splashes of orange toning on both surfaces. (Total: 6 pieces)

Important 1852-D Quarter Eagle

Low-Mintage Rarity

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164     1852-D AU-58 (PCGS). Lustrous yellow gold with some honey gold highlights. The fields are somewhat prooflike. A few faint marks are seen, but the overall quality is really excellent for the assigned grade. Nicely struck, with fairly strong details in most areas. A very nice representative of the date, mint, and grade—a lovely coin which will take a justly deserved prominent spot in any advanced cabinet. In this and most other Bass coins, it is to be remembered that Harry Bass, working with a virtually unlimited budget, and with just about every dealer in America on hand to supply his needs, cherrypicked for quality over a period of decades. Today in the present Bass III sale you are the beneficiary!

For the 1852-D, the mintage was just 4,078 coins. Today, survivors are apt to be VF and EF, seldom higher. Perhaps 100 to 150 exist all told. At the risk of being redundant, we note that Douglas Winter commented: "It is very rare in About Uncirculated."

PCGS Population: 4: 8 finer (MS-63 finest).

Date high in field with the 1 perhaps three or four times closer to the truncation above than to the dentils below. The base of what conventional wisdom would suggest is a previously punched 1 can be seen at the base of the existing 1. However, in a recent conversation with Bill Fivaz (January 2000), Bill mentioned that in his opinion on certain 19th-century dies, very tiny dashes were placed on the blank die in the date position, as a guide to where the logotype should be placed. This seems to be particularly evident on certain silver series, less so on gold issues, but it would neatly explain why the protruding part has no serifs. Such a punch could also explain the earlier mentioned little artifact or dash protruding from the lower right side of the numeral 5 (see description under 1851-O) probably soon faded from the die. On the present example the 2 in the date is essentially equidistant from the truncation and the dentils. A noticeable die line runs from the rim diagonally across the two innermost points of the third star, terminating in the field above the second star; this is diagnostic for all genuine examples of the date. Reverse of 1847-D, D mintmark high in field, touching branch, portion of arrow feather within opening of D.

At this point we mention that Bill Fivaz has been of immense help in the gold coin research project.

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

165     1852-O Normal Mintmark. AU-53. Lustrous light orange-gold. A few light marks are mentioned for accuracy.

Breen-6218. "Normal mintmark."

Obverse with date high, top of 1 nearly touching truncation, bottom of that numeral distant from dentils. Reverse with nicely centered mintmark placed high, touching branch. Arrow feather details fill top third of inside of O, tip of fraction bar below inside left curve of O.

From Paramount’s sale of November 1971, Lot 1015.

Outstanding Gem Mint State 1853 $2.50

Finest Graded by PCGS

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166     1853 MS-66 (PCGS). A high degree of intense cartwheel lustre graces the satiny surfaces of this beauteous gem. When viewed under low magnification, the surfaces take on a near matte-like appearance. Nicely struck in all areas. A simply superlative specimen of what is otherwise a plentiful issue, the present coin is certainly in the running for finest known honors for the date! Indeed, PCGS has not seen its equal, nor do we recall an example of equal quality appearing anywhere in the past several years. If your goal was to have just one early Coronet quarter eagle in your collection, a coin of superior quality and eye appeal, a coin that says it all where the design type is concerned, we would certainly direct your attention toward this lovely gem. A winner!

PCGS Population: 1; none finer.

Date logotype strongly repunched at left, particularly noticeable at the base of the 1 and in the upper loop of the 8. Top of 1 closer to neck truncation than to dentils, with the neck truncation having a little "scoop" removed to accommodate the digit. Many parallel die striae are seen, particularly around Liberty’s portrait; other striae can be seen on the reverse. A faint die crack connects the bottoms of the date numerals and the final three stars. On the reverse, the rightmost stripe of the second vertical group of shield stripes has been nearly completely polished from the die.

Purchased from Stanley Kesselman, April 23, 1973.

167     Group of quarter eagles: I 1853 AU-50. Obverse marks I 1856 AU-53. Yellow gold surfaces. Date logotype punched deeply into the die at the right side, making the 6 appear overly heavy I 1857 AU-55. Lustrous yellow surfaces I 1862 AU-50, cleaned I 1871-S AU-50. Splashes of orange toning. A very nice group offering an interesting run of dates. (Total: 5 pieces)

168     Grouping of quarter eagles: I 1853 EF-45 I 1854 EF-45. Rim bruise at 10:00 I 1854-O EF-45 I 1857 EF-45. Reverse scratches I 1873 Closed 3. EF-40. Lightly brushed. Various dates, various logotype styles, etc.—an interesting group. (Total: 5 pieces)

Unusual 1854 Quarter Eagle

Extra 8 on Rim Below Date

New Discovery

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169     1854 MS-63. The top of an errant 8 can be seen on the obverse rim. Satiny honey gold surfaces display strong lustre and a generous dash of eye appeal. Pale olive iridescence adds to the overall charm. Sharply struck in all areas. A small group of parallel striations can be seen under low magnification, and account for our conservative grade. Somewhat resembling adjustment marks and very likely as struck, the lines run diagonally across Miss Liberty’s cheek. All things considered, this is still an exceptional specimen for the grade.

This variety, identified by Frank Van Valen during the cataloguing process, was not noticed by Harry Bass, who primarily studied earlier dates of Coronet quarter eagles. The variety has the top of an errant 8 plainly visible on the flat rim directly below the space between the existing 8 and 5 of the date. Under low magnification the effect is rather spectacular.

Other particulars of this die combination include a high date on the obverse. The top of the 1 is embedded in the bottom side of Liberty’s bust. The lower left serif of that numeral is fairly distant from the dentil beneath, the edge of that serif over the center of the dentil. The 5 and 4 very nearly touch. The 4 is about equidistant between the truncation and the dentils, with the right edge of the base of that numeral over the right edge of a dentil. A spidery network of faint die cracks connects the date as well as many stars. Other fine cracks connect portions of the reverse legends. The dies are perfect otherwise, free of clash marks or other injuries.

From Stack’s sale of the Bartle Collection, October 1984, Lot 981.

Memorable 1854-C $2.50 Rarity

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170     1854-C AU-58 (PCGS). Lustrous honey gold with attractive orange highlights in the recessed areas. Some reverse weakness is noted, as virtually always seen for this date; the obverse is somewhat sharper than typically found. An impressive, indeed memorable example of this rarity; just 7,295 pieces were struck, the typical survivor being VF. We estimate that just 70 to 100 or so examples of the date can be found in all grades.

The presently offered coin is one of the very finest examples in existence. A small handful of coins surpass it in numerical grade, but when the combination of the present high numerical grade is added to a very generous quotient of eye appeal, this coin will hold its own with just about any other example. Indeed, it rivals the piece we offered as Lot 466 in our Bass II sale.

PCGS Population: 6; 2 finer (MS-62 finest).

All known 1854-C quarter eagles are from a single die pair. The date logotype is high, with the top of the 1 piercing the neck truncation above. Some slight evidence of clashing is seen on both sides.

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

Purchased from Stanley Kesselman, April 28, 1967.

171     1854-O AU-58. Lustrous medium gold with lightly reflective fields. A touch of orange glows in the recessed areas. This fairly plentiful date is usually found in VF or EF, and AU or finer specimens can be considered elusive. An absolutely fascinating coin from a technical viewpoint, as will be seen below—possibly a piece that should be acquired by the American Numismatic Association Museum for use as a study piece in educational classes. For the specialist, this is indeed an exciting piece.

Date logotype "rocked" vertically into the die, thus giving extra depth and thickness to the top and bottom of the date numerals; they are thinner and lighter through the center line. Date low in the die, lower left serif of 1 embedded in two dentils, nearly resting on a third, 5 and 4 distinctly separated from each other. Lower right serif of 4 close over center of dentil below. Some "orange-peel" roughness on the obverse between the rim and stars; this die was a candidate for relapping. A fairly faint die crack runs vertically from the rim at 12:00 through the star immediately above Liberty’s head, and from there to the top of her hair. Reverse with mintmark high, and with just the barest hint of an arrow feather at the inside right.

Purchased from Joe Flynn, September 19, 1973.

172     1855 MS-63 (PCGS). Frosty honey gold with delightful cartwheel lustre and a whisper of olive iridescence. Nicely struck save for a hint of weakness on the eagle’s right (viewer’s left) leg. A decidedly lovely specimen, one of the finest seen at this grade level.

Date logotype with italic 5s as used on all dies this year. Date high, top of 1 nearly touching the neck truncation, edge of lower left serif of that numeral distant from and over the left edge of a dentil. Upper right top of 5 fairly close to truncation. Reverse with some very faint cracks at STATES OF.

From Lester Merkin’s sale of April 1970, Lot 668.

173     1855 MS-63. Satiny honey gold with strong lustre. Another pleasing specimen of a popular Philadelphia Mint issue.

Obverse with centered date, top of 1 and lower left serif equidistant from truncation and dentil, lower left edge of serif over right side of dentil. Italic 5s, second 5 also equidistant. A tiny spur projects into the field from the left edge of the ball of the second 5. Rightmost stripe in second vertical pair on reverse shield mostly missing. Faint clash marks noted near eagle’s neck.

Purchased from Julian Leidman, April 28, 1972.

Rare 1855-C Quarter Eagle

Notable Quality

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174     1855-C AU-55 (PCGS). Lustrous medium gold with a hint of orange toning. Typical strike for the issue, with some areas of weakness at the central details.

The 1855-C quarter eagle is difficult enough to acquire at this grade level, and to find a piece with equivalent eye appeal—a very attractive example—poses even greater difficulty. The two considerations come together in the present coin. The advanced specialist will delight in the opportunity to bid on this, while the reader who has not yet commenced a cabinet of Charlotte quarter eagles, but who wants to take a giant step in this sale, would do well to bid liberally. One of just 3,677 examples of the date struck, the second lowest quarter eagle production figure from the Charlotte Mint for the design type. We estimate that perhaps just 60 to 80 or so examples of the date can be found in all grades today. Walter Breen noted that this date was "Usually VF; extremely rare above." Difficult to locate at the assigned grade (or higher), and certain to cause a stir when it crosses the auction block.

PCGS Population: 8; 6 finer (MS-64 finest).

Top of 1 in date slightly closer to neck truncation than to dentils, with an indentation in the truncation to prevent contact with that numeral.

Mintmark fairly high, upper right top embedded in feathers, lower right curve touches tip of fraction bar. Part of feather extending as a spike into the opening of the C. Some clash marks are seen.

From Stack’s sale of the DiBello Collection, May 1970, Lot 650.

175     1856 MS-63. Some light lines in the field keep this from a higher grade. Lustrous honey gold surfaces, very attractive overall—one of the nicest seen at this level. A nice coin overall.

Obverse with small date numerals, as always seen (a Large Date variety was reported years ago and never confirmed; it may not have been reported correctly in the first place). Italic 5 in date, as are all of this issue.

Obverse and reverse dies with light clash marks.

Received in trade from Mike Brownlee, October 13, 1977; ex our sale of the Fairchild Collection, October 1977, Lot 1551.

176     Quartette of quarter eagles: I 1856 AU-53, cleaned I 1859 Type II Reverse. AU-50, lightly brushed I 1862 AU-55. Raised die polish lines I 1871-S AU-50, reverse scratch. (Total: 4 pieces)

Elusive 1856-C $2.50

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177     1856-C Net EF-45; sharpness of AU-53, cleaned. A few scattered marks are noted as well. Honey gold. Nicely struck for a date that Douglas Winter called "Among the most poorly struck of all Charlotte quarter eagles." Only 7,913 examples of this scarce date were produced, with survivors from that mintage typically VF or so.

Date logotype slightly low and to the left, faint traces of double punching on right side of final digit.

From Lester Merkin’s sale of March 1969, Lot 62.

Elusive 1856-O $2.50

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178     1856-O AU-55. Lustrous honey gold with much mint brightness in the recessed areas. From a small mintage of 21,100 pieces, far and away the smallest mintage from New Orleans for the denomination since 1845. VF or so is the norm for this penultimate date from New Orleans. While the low mintage handily accounts for the rarity of the piece today, certain authorities, Walter Breen among them, have noted that the 1856-O is even rarer than the production figure suggests. The present coin is far above the median in terms of pieces that have come to market.

Obverse with centered date slightly to left, the only obverse known for the issue. Reverse with O mintmark nicely centered and high, arrow feather covering upper left portion of the mintmark.

From Stack’s sale of May 1968, Lot 735.

Mint State 1856-S $2.50 Rarity

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179     1856-S MS-62 (PCGS). Bright and lustrous honey gold with delightful pink iridescence on both sides. Well struck in all areas. A pleasing example of the denomination from the early days of San Francisco Mint operations. An elusive quarter eagle issue, a date that becomes a notable rarity in Mint State. Much scarcer than its mintage figure of 72,120 pieces indicates. Walter Breen described the date as "Extremely rare in Uncirculated." Literally, the first collectable date of the denomination from our westernmost mint, the 1854-S quarter eagle rarity being essentially unobtainable followed by no coinage at all for 1855-S. A delightful representative example of the date and grade, a coin that should see enthusiastic bidding when it crosses the auction block.

PCGS Population: 4; 8 finer (MS-65 finest).

Obverse with small date (as always) nicely centered both horizontally and vertically in the die, top of 1 very slightly closer to truncation than bottom of that numeral is to dentils. Left edge of lowest serif of 1 just to right of left edge of dentil below. Right edge of lowest curl on Liberty’s neck just left of right edge of 6 in date. Half-moon shaped hole in Liberty’s ear (most noticeably resembling a D mintmark). Italic 5 in date. Reverse with S mintmark high in the die, nearly touching branch above. Back of upper curve of S touches talon, front of upper serif touches arrow shaft, back edge of lower serif directly over center of upright of fraction numerator and somewhat distant.

From Lester Merkin’s sale of March 1969, Lot 63.

180     1856-S AU-53. Lustrous orange-gold. A few light marks are visible under low magnification. A very attractive 1856-S, one that is head and shoulders above the typical quality encountered in auction catalogue appearances of the past century.

Obverse with small date, top of 1 very noticeably closer to truncation than bottom of that numeral is to dentils. Left edge of lowest serif of 1 high over space between dentils. Deep, round hole in Liberty’s ear. Right edge of lowest curl on Liberty’s neck slightly past right edge of 6 in date. Italic 5 in date. Same reverse die as the previous lot, with identical mintmark placement.

From RARCOA’s sale of February 1972, Lot 778.

181     1856-S AU-50. Lustrous honey gold with plenty of brightness in the recessed areas.

Obverse with small date, more deeply punched into the die on the right side than on the left side; top of 1 about equidistant between truncation and dentils. Left edge of lowest serif of 1 over center of dentil below. Half-moon shaped hole in Liberty’s ear, a tiny triangular earlobe present. Right edge of lowest curl on Liberty’s neck noticeably past right edge of 6 in date. Italic 5 in date. Reverse with S mintmark far to right. Upper right curve of S close to feather, upper right serif twice as far from branch. Lower right curve of S close to upper right serif of D in the denomination, lower left serif close to tip of fraction bar.

From Stack’s sale of the Shapero Collection, October 1971, Lot 823.

182     1857 MS-63. Satiny honey gold with a high degree of cartwheel lustre present. Nicely struck and aesthetically appealing. A lovely coin for the grade.

Date nicely centered horizontally and vertically. Base of 7 closer to dentil than base of 1. Tiny notch out of lower right side of 8; this is seen on certain other (but not all) 1857 quarter eagle dies. Reverse unremarkable, free of die clash or cracks.

From Stack’s sale of the Miles Collection, October 1968, Lot 175.

Low-Mintage 1857-D $2.50 Rarity

Exceptional Eye Appeal

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183     1857-D AU-55 (PCGS). Lustrous honey gold with much mint brilliance in the recessed areas. A rare date from Dahlonega with a small mintage of just 2,364 pieces. Most of the survivors from that mintage are in VF and EF, although this rare date is sometimes encountered at the AU level.

The present coin is a very pleasing specimen overall, an attractive piece with plenty of eye appeal, just a trifle lower in overall quality than the AU-58 specimen we offered as Lot 490 in our sale of Part II of the Harry W. Bass, Jr. Collection in October 1999. An attractive coin with plenty of eye appeal, a coin that will be a showpiece in an advanced Liberty quarter eagle collection. Quality such as this is very difficult to locate—combining a high numerical designation with aesthetic appeal.

Obverse with date nicely centered horizontally and vertically. Tiny notch out of lower right side of 8 (a characteristic of the logotype; this occurs on all dies from all mints). A faint crack unites the bottoms of the date numerals, extending to the right through the final three stars. Several stars show tiny die artifacts around the outer edges, particularly the first three stars. Visible die finish lines are present at various places near the dentils, most spectacular of these a vertical line that stretches the length of four dentils between the third and fourth stars. Reverse with D mintmark high, as on 1847-D and later.

This is another quarter eagle that reveals to the observer a wealth of fascinating detail when examined under magnification. Louis Agassiz would have loved it!

From Pine Tree Auction Co.’s sale of March 1974, Lot 73.

184     1857-O MS-60 PL. Lustrous golden orange surfaces. Lightly cleaned, with light brush marks showing in the prooflike fields. One cannot be too choosy when selecting New Orleans Mint gold coins of this era, and delving into the auction catalogues of yesteryear will reveal that this piece is among a very few high quality 1857-O quarter eagles ever auctioned. Most numismatists who have formed "name" collections, have had to be satisfied with such grades as VF-EF. Even AU coins are rare.

Obverse with date evenly centered horizontally and vertically. Tiny notch out of lower right side of 8. Reverse with O mintmark high and to right, with lowest arrow feather covering the upper right curve of the O, and evenly centered between the tip of the fraction bar and the upper left serif of the D in the denomination.

From Lester Merkin’s sale of September 1967, Lot 333.

185     1857-O AU-55. Lustrous honey gold with yellow brightness in the recessed areas. Typically found in VF to EF, with AU specimens quite scarce. A pleasing specimen of the final date of quarter eagle coinage from the New Orleans Mint.

From the same dies as the preceding lot.

Purchased from Rowe and Brownlee, June 25, 1968.

186     1857-S AU-55. Lustrous medium gold with orange toning highlights. A tiny obverse rim bruise is noted at 2:00. A scarce and popular San Francisco Mint issue; Walter Breen called this date "Extremely rare above EF." A nice opportunity to acquire an example which has had few auction precedents.

Obverse with date nicely centered both horizontally and vertically. Reverse with thin S mintmark high in the die, back upper curve of S touching talon, top of upper right serif virtually touching nock of arrow shaft, numerator in fraction below back curve of S and relatively distant.

Purchased from Fred Sweeney, September 18, 1972.

187     1857-S AU-53. Lustrous honey gold with a hint of rose iridescence. Some scattered marks are noted on both sides. Still a lot of coin for the grade.

Obverse from same die as previous lot. Reverse with S mintmark high, back of mintmark far from talon, upper right serif embedded in lowest arrow feather, bottom of the mintmark relatively distant from numerator and fraction bar.

From Stack’s sale of May 1968, Lot 740.

188     1858 MS-61. A frosty, satiny pale golden specimen with a blush of rose iridescence. Choice for the grade. Walter Breen called this date "Much scarcer than its mintage figure (47,377 business strikes) suggests; rare Uncirculated."

From an unremarkable die pair. Obverse with nicely centered date, top and bottom of 1 about equidistant between truncation and dentils, bottom of second 8 same distance from dentils as 1. Reverse free of cracks or other remarkable diagnostics.

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 1748.

189     1858 AU-55. Lustrous medium gold with rose iridescence. A few scattered marks and lines are noted.

Obverse with date high, top of 1 noticeably closer to truncation than bottom is to dentils, final 8 broader than other numerals, indicating that the right side of the logo was more deeply impressed than the other three numerals.

From Abe Kosoff’s sale of August 1968, Lot 817.

190     1858-C Net EF-40; sharpness of AU-50 or so, but lightly cleaned, giving the overall appearance of seawater surfaces. A rare date with a mintage of 9,056 pieces. Regarding rarity, Douglas Winter wrote "This date is greatly underrated." How marvelous it is that in a series of auction sales of the Bass Collection you can from the comfort of your armchair bid on "underrated" and other desirable coins that took many years to acquire one by one.

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.

From Lester Merkin’s sale of March 1969, Lot 68.

Superb Proof 1859 $2.50 Rarity

A Splendid Gem

Tied for Finest Graded by PCGS

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191     1859 Proof-66 (PCGS). A splendid golden Proof with deep mirror fields and frosted motifs. A delightful gem of impeccable quality and preservation; this particular specimen was evidently treated with kid gloves over the past 141 years. Indeed, that a coin so splendid exists from this era gives great testimony to the quality of the cabinets it has graced over the decades.

The Proof mintage for this date is unknown, but we estimate that it was very small. We believe that fewer than a dozen or so Proofs are known today, indicating a tiny mintage. As best as we can, we are trying to track down information concerning gold Proof mintages of the second half of the 19th century, using a combination of the excellent research of R.W. Julian, comments added to catalogues by the Chapman brothers and others, plus other sources. Some interesting surprises seem to be coming to light—generally that just about every early Proof is considerably rarer than conventional wisdom presently suggests.

PCGS Population: 2; none finer.

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

Walter Breen’s Encyclopedia gives the mintage as a cryptic "80-P," indicating that perhaps 80 specimens of the date were coined in the Proof format, with many of those unsold. His mintage figure is most likely on the high side, as probably fewer than a dozen Proofs of the date are known today. Finer than the Proof-62 specimen we sold in Part II of the Harry W. Bass, Jr. Collection, October 1999, Lot 503. Indeed, you may be about to bid on the finest known Proof 1859 quarter eagle; certainly the possibility for such exists in the presently offered specimen. In 1859, Proof coins were sold individually to numismatists and others who were interested in purchasing them. As might be expected, the greatest demand was for the gold dollar, this being the most widely collected of all gold denominations. Quarter eagles and $2.50 pieces were next in popularity, followed at a very long distance by $5, $10, and $20 pieces, of which just a handful of each were ordered. As amazing as it may seem today, in the 19th century there was little aftermarket for Proof gold. It was not at all unusual for a quarter eagle to sell for very little above face value a decade or two or three after it was issued (this reference being to Proof quarter eagles in general, not specifically to those dated 1859). Accordingly, many pieces were simply spent. Decades later, beginning in a significant way in the 1930s, Proof gold coins of the Coronet style became widely collected, at which time it was found that relatively few were available. Today in the year 2000, as a class gold coins are the rarest of the rare. Although a number of 19th-century gold Proof sets were included in major collections—some citations for 1859 gold Proof sets being given below—in recent decades such pieces have been largely absent from even "name" collections, with just a few scattered exceptions.

An 1859 Proof quarter eagle is available when and where you can find it—and it certainly may be the case that the coin offered here, if not purchased now, may forever elude the grasp of even the most aggressive specialist. For interest, a list of some early offerings and displays of full gold Proof sets of 1859 are given herewith—some no doubt representing the same sets subsequently sold (partial list from our files).

1. May 1864. W. Elliot Woodward’s sale of the John F. McCoy Collection, Lot 1990, part of a four-piece set (gold $1, $2.50, $3, and $5).

2. November 1880. S.K. Harzfeld’s 15th Sale, Lot 593a, part of a six-piece gold Proof set of the date.

3. December 1890. Chapman brothers sale of the Thomas Cleneay Collection, Lot 407, part of a six-piece gold Proof set of the date.

4. January 1914. Part of the American Numismatic Society Exhibition display of coins from the Society’s holdings (a full run of Proof gold from 1859 onward was displayed).

Fast forward to modern times, although some individual citations could be given in the meantime, the Eliasberg Collection sold by us in 1982, traced its pedigree from the David S. Wilson Collection (S.H. Chapman, March 1907), and remains memorable to this day. Superior’s sale of the Ed Trompeter coin, Lot 39 in February 1992, was noted as "either the Boyd, Bell, Wolfson specimen or one not previously auctioned." Joining the select inner circle is also David Akers’ offering of the John J. Pittman coin, October 1997, Lot 834, part of an 1859 Proof set, tracing its pedigree to Numismatic Galleries sale of the "Memorable Collection," 1948, Lot 118, and earlier to the "World’s Greatest Collection" sale of 1946, Lot 127 (the F.C.C. Boyd cabinet). Another example, Proof-62, was showcased by us in the Bass II sale.

The editor would be pleased to provide the successful buyer of this lot with a printout of information on 1859 quarter eagles in general and 1859 Proofs in particular, including the previous information plus other listings here and there.

From Stack’s sale of April 1978, Lot 805.

192     1859 Type I Reverse. AU-50. Warm honey gold with lighter brightness in the recessed areas. A whisper of rose iridescence adds to the overall appeal. From the reverse hub or master die of 1840-1859, apparently scarcer than its Type II counterpart for this date.

Obverse with date nicely centered both horizontally and vertically. Top of 1 and lower left serif equidistant from the truncation above and the dentils below. Left edge of serif over center of dentil. 1 and 8 evenly spaced, 5 and 9 slightly wider. A perfect date size for the denomination.

Type I reverse, arrowheads large and touching, C and final A in AMERICA virtually touching, closely spaced, elongated dentils with rounded ends.

From Lester Merkin’s sale of September 1967, Lot 336.

193     1859 Type II Reverse. AU-58. A bright and lustrous specimen with plenty of eye appeal for the assigned grade. Type II reverse (see below).

Obverse with date logotype essentially in the same position as on the earlier offered Proof.

Type II reverse. Arrowheads smaller, sharper, and noticeably apart from each other; C and final A in AMERICA evenly spaced; widely spaced, elongated dentils with squared ends, each about a dentil’s width from the next.

In this year the reverse hub was changed (for Philadelphia issues; the earlier style remained in effect at the branch mints). The hub used on the present piece is that of 1859 and later.

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

Lustrous 1859-D Quarter Eagle

Last Dahlonega Quarter Eagle

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194     1859-D Type I Reverse. AU-55 (PCGS). Lustrous honey gold with yellow brilliance in the protected areas. One of just 2,244 examples of the date struck in this, the final year of the denomination from the Dahlonega Mint. "It is usually seen in Extremely Fine or low end About Uncirculated," Douglas Winter wrote regarding this date. A very appealing specimen combining high numerical grade and a very generous amount of eye appeal—a truly marvelous 1859-D that will be enjoyed by its next owner as much as Harry Bass enjoyed it for nearly 30 years.

Type I reverse.

Obverse die notably basined. Logotype quite low, base of 1 closer to dentils than top of 1 is to truncation. 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 a late reverse state, with the O in OF showing a diagonal die break at the lower right, giving OF the curious appearance of QF.

From Lester Merkin’s sale of March 1969, Lot 70.

Desirable 1859-S $2.50

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195     1859-S AU-53. Rich honey gold with strong lustre and a touch of pale rose iridescence. An elusive issue that saw a fairly small mintage of 15,200 for the date. We suspect that about 100 examples from that mintage still survive, with the majority of those at the EF level. In fact, when David Akers was preparing the manuscript for his 1975 volume on quarter eagles, he made note that in the seven years preceding publication, only one example of the date had been offered at public auction in a grade higher than EF! A pleasing coin and an exciting opportunity.

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

Reverse with S mintmark high, extremely deeply punched into the die making it one of the boldest mintmarks seen on a coin of this denomination. With other upper right serif of S embedded in arrow feathers, upper back curve of S away from talon. The loops of the S mintmark are open and unfilled. The hub is of the early 1840-1858 style.

From Lester Merkin’s sale of March 1969, Lot 71.

196     1859-S EF-45. Lustrous medium gold. A highly collectable example of an elusive branch mint issue.

Same obverse die as preceding.

Reverse from the same die as preceding, but with the mintmark completely filled—the high elevation as flat as a table. The upper right serif embedded in arrow feathers, upper back curve of S away from talon. The loops of the S mintmark are filled. The hub is of the early 1840-1858 style.

Superlative Proof 1860 Quarter Eagle

Finest Graded by PCGS

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197     1860 Type II Reverse. Proof-66 (PCGS). A splendid cameo Proof of virtually the highest order. The devices are satiny and the fields are deep golden mirrors. The number of 112 has been published as the quantity of Proofs struck, and we have no immediate repudiation of this, except to say that so few are known today that it seems more likely that only 30 to 40 were actually distributed. As to why 112 Proofs might have been made in the first place (if they were), the dedication of the Washington Cabinet within the Mint Cabinet on February 22, 1860, could have been an occasion and might explain that if pieces were available to those who attended, some who were not numismatists may have spent them later. However, such theories are tenuous at best, and we try to avoid such speculation. Of the few Proof specimens available today, we are not aware of any example that is finer than the piece offered here. For any collection of quarter eagles this will be a tremendous highlight. Similar to our offer made under the 1859 Proof quarter eagle, we would be pleased to send some reading material on the Proof 1860 with respect to historical appearances at auctions, Proof sets, etc., to the successful bidder upon application to the editor (QDB). Suffice it to say, this great rarity is a classic. Of those specimens available today, the odds are fairly strong that the current coin is the finest known; it certainly has little competition as far as we know. A rarity, a prize, and a coin to strive for; the addition of this specimen to your personal cabinet will be a memorable highlight, indeed!

PCGS Population: 1; none finer.

From Quality Sales Corporation’s sale of September 1973, Lot 1055.

198     1860 Breen-6252. Repunched 1 in Date, Type II Reverse. AU-58. Lustrous medium gold.

Date logotype punched lightly into the die. First digit with small extension at the bottom, quite possibly as a position marker—definitely not the base of another 1 digit as it has no serifs (see earlier comment on this situation, inspired by Bill Fivaz). Nicely struck from lightly clashed dies. Base of 1 in date repunched.

Date logotype punched lightly into the die. First digit repunched at bottom. The logotype of this year has the base of the O slightly low and the digit leaning slightly right—this being common to all dies and mints.

The reverse is of the new hub style. Clash marks can be seen at obverse and reverse. Evidence of clashing is seen above both wings of the eagle.

From Abe Kosoff’s sale of August 1968, Lot 822.

199     1860-S Breen-6255. Repunched 1 in Date, Type I Reverse. AU-55. Frosty medium gold with a hint of orange iridescence. A few light marks are seen. A scarce date; perhaps just 100 or so examples can be located in all grades, the majority of those at VF or EF. One of the popular "sleeper" dates from San Francisco, a coin that is not at all expensive, absolutely speaking, but which is a first class rarity in this grade.

Breen-6255. "Partly repunched date. Rare. Parts of other digits between 86 and 60." This is a regular repunching involving the four-digit logotype, not a "marker" as mentioned in the preceding lot.

Obverse with nicely centered date, top and bottom of 1 equidistant from truncation and dentils. Repunching shows clearly at the 1, with some die artifacts between the 8 and 6, and again between the 6 and 0 of the date, corresponding to Breen’s statement. Type I reverse with large arrowheads that touch. S mintmark high and well formed, tilted noticeably to right, upper right serif blends with arrow feathers, lower right serif seemingly attached to right top of numerator.

There were four obverse dies shipped from Philadelphia to San Francisco in anticipation of this coinage, for this date, with leftover reverses from 1856 already on hand at the San Francisco facility.

As will be explained in some length in the forthcoming multi-volume work on gold coins, the survival rate of Coronet Head quarter eagles of the early period, and the grades in which they can be found today, can be directly attributed to the methods of circulation. In brief, on the eve of the Civil War, late 1860 and early 1861, in the South citizens hoarded gold coins, including many Charlotte and Dahlonega pieces. These were in the grades seen in circulation at the time, with early issues from the 1840s being quite worn, and later ones, from the mid 1850s onward, being in grades that today would be called EF or AU. Some New Orleans coins were hoarded as well, but not as many. In the North, beginning on December 28, 1861, banks stopped paying out gold coins at face value. The Civil War was nine months old, and the easy victory anticipated by the Yankees had not materialized, heavy losses had been sustained by both sides, and the outcome of the conflict was uncertain. As has been done throughout history, citizens hoarded "hard money," starting with gold, then silver, eventually even the lowly "copper-nickel cents." Gold coins taken from circulation were no longer paid out after that time, a situation which continued in effect until December 18, 1878, nearly two decades later. In the meantime, in the East and Midwest gold coins were not available at face value from banks or anyone else. They could be purchased at a premium from the Treasury Department, which, as curious as it may seem today, did a very lively business in the selling of gold coins at a premium—to those who wanted for them for souvenirs, or for export payments, etc. Many details, including Treasury Department profit statements on a yearly basis, are given in the book, The Treasure Ship S.S. Brother Jonathan, by Q. David Bowers. At the same time, in the East, and Midwest—including the South—gold coins were hoarded. After December 1878, many pieces were released into commerce, along with freshly minted issues. However, as these coins had not circulated actively for 17 years, their average grade was fairly high.

In sharp contrast, on the West Coast, gold coin payments were not suspended in December 1861 or any other time. Newly minted San Francisco quarter eagles, as well as pieces that had come from the East earlier, plus those that were sent to the West by merchants and others who paid a premium for them during the Civil War, were seen in everyday circulation. Coins wore down rapidly. The preceding scenario gives a reason why a review of quarter eagles in existence today—such review being most easily found in David W. Akers’ 1979 study of the series—will reveal that San Francisco Mint quarter eagles surviving from the 1860s typically exist in such grades as Fine to Very Fine, while Philadelphia Mint coins of the late 1850s and 1860s, as well as Charlotte and Dahlonega Mint pieces of the same era, exist in higher average grades.

From Stack’s sale of May 1968, Lot 748.