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

The Bass Collection Part IV quarter eagles offer many remarkable coins, again combining high quality with rarity. Our presentation is initiated with a lovely specimen of the famous 1796 No Stars, followed by a beautiful and rare 1804, a number of memorable Classic Head pieces, and then a truly remarkable run of Liberty Head pieces. Among the latter will be found many incredible coins—great rarities, high grades, and other desiderata. Following the theme of the Bass Collection, many pieces display interesting die characteristics which are duly noted. Along with the circulation strikes are a number of incredible Proofs. All told, this quarter eagle offering is one of the finest in numismatic history.

Cataloguing of the early issues through the Classic Head pieces is by Mark Borckardt, with the Liberty Head and Indian quarter eagles by Frank Van Valen, introductory notes and contributions by Q. David Bowers.

Early Quarter Eagles

The first $2.50 gold pieces, or quarter eagles, bear the date 1796 and were issued that year, following the introduction of the $5 and $10 denominations the year before, 1795. For many years afterward the quarter eagle remained the smallest denomination federal gold coin, a status it enjoyed until the advent of the gold dollar in 1849.

In America in the late 18th and early 19th centuries, most domestic commerce was conducted by credit, drafts, and currency. Gold coins seem to have played a relatively minor part, especially in districts away from the larger cities. Although foreign commerce was dominated by silver coins, especially Spanish-American eight-real "dollars," much trade, especially with Europe, was conducted with gold coins. Gold $10 eagles were the export coins of choice 1794-1804, but after that date, when $10 mintage was suspended (not to resume until 1838), the $5 half eagle became the largest gold coin of the realm. These were produced to the extent of many hundreds of thousands of coins. Beginning in 1821 and continuing through the summer of 1834, no gold coins of any kind were seen in domestic circulation. Those that were distributed, such as in the pay of congressmen, were worth a premium, and were not exchanged at par.

In American commerce, the quarter eagle denomination was betwixt and between. Too small for convenient use in the maritime and export trade (except in the early years to summer 1834), and not needed for everyday domestic transactions normally serviced by silver coins or paper obligations, the quarter eagle denomination was made intermittently and only in small quantities. Thus, we have coinage dated from 1796 to 1798 and again from 1802 to 1808, but never made in substantial numbers.

As a handy comparison, the largest-mintage early quarter eagle is the 1807, of which 6,812 were struck, containing $17,030 face value in gold. In the same year, the largest gold denomination currently being struck was the $5, of which 84,093 pieces were struck, amounting to $420,465, or over 24 times as much!

It is likely that most of the 1796-1808 quarter eagles were used stateside, for the larger $5 and $10 coins were more convenient for international trade. The reason was simple arithmetic: it would take twice as long to count $1,000 in $2.50 coins than in $5 coins, and four times as compared to counting $10 pieces.

The entire $2.50 coinage of 1796-1808 amounted to only 22,199 coins (no further $2.50 coins were made until years later in 1821). In 1810 the third federal census listed the population of the United States at 7,239,881, including 1,211,364 slaves, 186,746 free Negroes, and 60,000 persons designated as immigrants. By calculation, this amounted to one $2.50 coin for every 326 people! It is likely that there were many Americans who were born, grew to adulthood, and died without ever seeing a 1796-1808 quarter eagle.

Impressive 1796 No Stars Quarter Eagle

Our First Quarter Eagle

A Single-Year Design Type

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114 1796 Breen-6113, Breen-1. Rarity-4. No Stars. AU-55 (PCGS). Attractive greenish gold with very minor hairlines and other small blemishes. The obverse has considerable reflective Proof surface in the protected areas around devices while the reverse is nearly fully prooflike. A few minor depressions in the surface appear to be the result of foreign matter on the die during coining. Light diagonal adjustment marks are at the center of the reverse. Somewhat weakly struck at central obverse and reverse, as usual for this issue.

This is an exceptional survivor from a mintage estimated at 963 pieces. The majority of the 100 or so survivors are in lower grades are harshly cleaned, or have other signs of impairment, quite often from use in jewelry. Although clearly not finest known, or even among the top six, this example remains one of the nicer representatives of the No Stars design type on the market today. No doubt, when Harry W. Bass, Jr. selected it for his cabinet, he did so based in part by its great eye appeal.

As a single-year design type, minted only for a part of the year 1796, this is an extremely important opportunity for the type collector. The design is unique among United States gold coinage. This is also the first year of the quarter eagle denomination, and a coin of considerable aesthetic appeal. Outstanding quality, rarity, and desirability for the serious specialist and connoisseur.

This is a very late die state with extensive obverse die cracks. The obverse die has been lapped, the lowest hair curl ending in three prominent individual pointed hair strands. Usual crack from the border at 9:00 curves up into the left obverse field. A prominent crack through L continues through the cap to hair curls. A crack connects top of B to a dentil above. Another from right base of E lightly joins the front edge of the cap. The reverse die appears perfect.

Notes on the 1796 No Stars $2.50

The first quarter eagles minted bear the date 1796. The inaugural design is distinguished from the later motif by having no stars on the obverse. The engraver is believed to have been Robert Scot.

Designated as the Capped Bust to Right style, the first quarter eagle type of 1796, features the head and shoulder portrait of Miss Liberty facing right, wearing a cloth cap, with LIBERTY above and the date below. There are no stars in the field, giving the obverse a cameo-like aspect. The reason for the omission of the stars is not known. Perhaps the engraver believed that the die would be more attractive without them, in view that there were stars on the reverse.

The reverse is of the Heraldic Eagle design similar to that used on gold and silver denominations of the era, this being its first known appearance in coinage (the motif was adopted on the silver half dime in 1800, silver dime in 1798, silver quarter dollar in 1804, silver half dollar in 1801, silver dollar in 1798, $5 gold in 1797 (although, as noted below, a 1795-dated die still on hand was used at that time to make 1795-dated coins), and $10 gold in 1797.

Adapted from the Great Seal of the United States, the center motif depicts an eagle with a shield on its breast, holding an olive branch and arrows in its talons, and in its beak a ribbon inscribed E PLURIBUS UNUM. A galaxy of 16 stars is above (the number of stars was reduced to 13 in 1798) the eagle, with a group of clouds in an arc extending from one wing to the other. On the shield there are 8 vertical solid stripes, a style continued through 1797, after which 6 multi-element stripes were used. The inscription UNITED STATES OF AMERICA surrounds. There is no mark indicating the denomination. There were two reverse dies, each differing slightly from the other, combined with the No-Stars obverse.

Certain numeral and letter punches used on early $2.50 dies were also used on silver dime dies of like diameter. Although the Heraldic Eagle device first appeared in federal coinage on the 1796 $2.50 gold, it had been used earlier elsewhere, including for the 1791-dated Washington Small Eagle copper cents struck in England and the Getz silver Washington half dollar of 1792.

The diameter of the early quarter eagles was standardized at 13/16" (20.6 mm), which was used for the entire coinage of the 1796-1808 era.

In Description of Ancient and Modern Coins, in the Cabinet Collection at the Mint of the United States, 1860, Mint Director James Ross Snowden described the first issues of the denomination, the two different styles of 1796:

"1796. The gold coins of this year have sixteen stars upon the obverse, eight upon each side of the effigy. The first coinage of quarter eagles took place in this year. The first issue, which was made on the twenty first of September, was of the same type as the eagle. The amount, however, was very small, being only 66 pieces. Subsequently the die was altered, and on the eighth of November there was a coinage of 897 pieces of the following type: Obverse same as the eagle. (A portion, and probably a small one, had no stars upon the obverse.) Rev. An eagle with raised wings, holding in its beak a scroll, inscribed "E PLURIBUS UNUM," and grasping in the right talon a bundle of arrows, and in the left an olive branch. Upon its breast is the United States shield. Above the eagle are clouds, and sixteen stars. Legend. ‘UNITED STATES OF AMERICA.’"

Mintage Figures for 1796

During calendar year 1796 the mintage of the $2.50 denomination amounted to 1,395 pieces, which Walter Breen (Encyclopedia, 1988, and elsewhere) divided into 963 coins of the No-Stars type and 432 of the With-Stars style. In actuality, no such neat separation is recorded officially, and this is simply a guess based upon deliveries. Coins struck under Warrant 76, September 22, 1796, amounted to just 66 coins, while Warrant 77 of December 8 involved 897 coins. Toward the end of the latter month, 432 additional quarter eagles were struck (but were delivered on January 14, 1797).

It is convenient to combine the first two groups, 66+897, to create a mintage of 963 for the No-Stars and the third group, 432, for the With-Stars, but, as noted, this is simply a guess. Nor is it by any means certain that 1796-dated dies were discarded at the end of 1796. They may have been used later, in 1797, 1798, or thereafter. The evidence of keeping earlier-dated obverses on hand is dramatically shown by the use of a 1795 half eagle die in 1798, when it was combined with the new Heraldic Eagle design (see $5 section of the present work). The same guesswork or, better, estimation, is found throughout Walter Breen’s texts and has been adapted without question into many popular references including A Guide Book of United States Coins. It is likely that more accurate numbers could be obtained with a modern restudy of the issues.

In all instances, the calendar year mintage figures (never mind the separation of these figures into estimated quantities for different varieties) for early gold coins must be taken with a large grain of salt. They are interesting to contemplate, but do not necessarily represent the number of coins struck bearing that particular year date. During the years 1796-1808, the Mint concentrated on the economy of using dies until they cracked or were otherwise rendered useless. The inquiries of future generations of numismatists, yet unborn, were not even considered.

Collecting Considerations

The number of specimens surviving of the 1796 No-Stars quarter eagle has been subject to many guesses, ranging from as low as a dozen or so to over the 100 mark. Irrespective of which estimate you choose, the 1796 quarter eagle is famous as one of the most elusive and one of the most sought-after early American gold coins.

Most extant specimens are in grades from Very Fine to Extremely Fine, although a few higher condition examples exist. One of the most important presentations of this issue was in Stack’s catalogue of the John Whitney Walter Collection, 1999, which featured specimens a dedicated numismatist with an ample budget had acquired and studied over a long period of years. An appendix to the catalogue lists several hundred sale appearances for the 1796 No-Stars quarter eagle over a long period of years.

Curiously, the starless obverse field and the cameo-like effect it gave to the portrait of Miss Liberty resulted in an inordinate number of these pieces being used as jewelry. Thus, today it is not unusual to find examples that once had loops attached to the edge or which have been burnished.

Complicating the ease of evaluating and comparing listings of quarter eagles of this design is the general practice to grade these pieces liberally, and also the high rate of resubmissions to grading services. Under the latter procedure, a half dozen listings in population reports might represent only one specific coin. The aspect of the unknown has always piqued the imagination of numismatists. With the 1796 No-Stars quarter eagle—more than for any other design type in the denomination—there are unanswered questions as to how many exist and how the grades of extant pieces are distributed.

Nearly all specimens show some Mint-caused planchet adjustment marks in the form of grooves or file marks, these being particularly evident along the border, but sometimes on the portrait of Miss Liberty and among the reverse motifs.

It was not known until recent decades that the 1796 No Obverse Stars quarter eagle was mated with two different reverses, these being designated below as Reverse AA (recently discovered, and exceedingly rare) and Reverse AB (the usually seen reverse).

Estimates of Rarity

Estimated population (Mint State): 5 to 8. The dividing line between a truly Mint State 1796 No-Stars quarter eagle and one that is AU is fuzzy in the literature. A number of high-grade coins that have been called Mint State (or, years ago, the equivalent Uncirculated) seem to be no better than AU-55 or AU-58 today. Conversely, some that have been called AU before are now graded Mint State. Thus, the literature is of little help. High-grade coins are very attractive and usually are prooflike. A perusal of the citations below will reveal that many high-grade offerings have been made over the years. How many of these are for different coins is not known.

Mint State coins are sufficiently rare that it may be the case that no examples were specially saved at the time of issue. Walter Breen has written of special strikings (Encyclopedia, 1988): "Real presentation strikings have brilliant prooflike surfaces and are better struck.…" However, no documentation for the presentation of such pieces has come to light, and this matter of distribution seems to be conjectural. Certain 1796-dated coins in various series are highly prooflike (the silver quarter dollar being particularly notable in this regard), but this seems to have been the style used for many coins made for general circulation this year.

Estimated population (circulated grades): 80 to 110. The number of different specimens known has been the subject of widely varying estimates. The writer suggests perhaps 80 to 110, although David Akers’ 1975 estimate of "between 30 and 40" must certainly be noticed. Estimates that a dozen, or 15, or 20 pieces constitute the entire population are disregarded today. A survey of early gold coins appearing in Bowers and Merena auctions for the period from 1972 through summer 1999 yielded 24 citations the 1796 No-Stars quarter eagle (including duplicate appearances of some coins), and during the same period dozens of others were sold by other auction firms as well as by direct sales. In the years since the 1860s there have been hundreds of auction appearances, with many coins appearing multiple times in different sales, with a listing by date given in an appendix to the catalogue of the John Whitney Walter Collection (Stack’s, 1999). In addition to the auction data—constituting the most visible appearances—many specimens of this and other gold coins have been bought and sold privately. Sometimes it is worthwhile to remember that in recent decades there have been hundreds if not thousands of professional numismatists handling gold coins, but only a small percentage of these dealers have conducted auctions. Per contra, most major collections have been sold via the auction route. Thus, the chances are excellent that over a period of time a given specimen of a rarity will appear one or more times in the auction forum.

Among surviving circulated 1796 No-Stars quarter eagles, VF and EF specimens are the norm, but there are at least 15 that are AU, usually with prooflike surfaces; some of these were probably called EF years ago. Among AU specimens the presently offered Bass coin is one of the nicest we have ever handled. Grading is a moving target in many areas of numismatics, and the 1796 No-Stars quarter eagle is a study in this regard.

A survey of "name" auction sales over a long period of years reveals that there are very few exceptions to the VF and EF rule. It seems evident that in the context of 1796 No-Stars quarter eagles, an AU coin is very special, and even the most advanced collector would be proud to own one. Regarding Mint State coins, these are extreme rarities, as noted above. Certain "Mint State" coins in today’s collecting arena were graded AU earlier.

Pieces that have been polished and/or mounted for use as jewelry exist, perhaps to the extent of a dozen or more coins in addition to the 80-110 estimate given above. These have value as "fillers." Some pieces have been cleverly restored to eliminate most traces of mounting.

Purchased from Abner Kreisberg, April 1973.

Lustrous 1804 Quarter Eagle

14 Stars Reverse

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115 1804 Breen-6119. 14 Stars. AU-55. Lustrous greenish yellow gold with faint rose toning. Aside from some minor rubbing in the fields, the surfaces are nearly fully prooflike. A scratch crosses the obverse from star 12 up to the left, ending in the field left of the hair curls. Other minor old scratches and abrasions are visible. Sharply struck with nearly full, complete details. Abner Kreisberg mentioned the following: "Low mintage of 3324. A beautiful well centered specimen with faint die crack in field right of date. Faint old scratch through neck."

A short crack from border to bust passes right of digit 4. Perfect reverse.

From Quality Sales Corporation’s sale of the John A. Beck Collection, January 1975, Lot 92.

Classic Head, No Motto $2.50

To permit gold coins to circulate at par—which had not happened since the days of the War of 1812—Congress reduced the authorized weight of the various denominations through the Act of June 28, 1834. Senator Thomas Hart Benton, nicknamed "Old Bullion," spearheaded the movement. For the quarter eagle the weight was reduced from 67.5 grains to 64.5 grains. On August 1, 1834, the new standard went into effect.

So that the public could readily differentiate the new coins from the old, the design was changed. Chief Engraver William Kneass created what is called the Classic Head today. The head of Miss Liberty faces left, her hair secured by a band inscribed LIBERTY, stars circling her head, and with the date below.

The reverse depicts an eagle with a shield on its breast, perched on an olive branch and holding three arrows. The inscriptions UNITED STATES OF AMERICA and 2-1/2 D. surround. It was originally intended that the new coins would bear the date AUG. 1, 1834 on the reverse to make them easy to differentiate, but in practice this was not done. It is interesting to observe that certain coins minted by Bechtler in North Carolina did adhere to the original proposal and do include the full date. Instead, the motto E PLURIBUS UNUM, used on quarter eagles since 1796, was omitted, making it easy even at a casual glance to distinguish the new reverse from the somewhat similar design in general use 1808-1834.

Among the several Bass Collection sales the selection of Classic Head quarters is unprecedented in the annals of American numismatics. The present Part IV rings down the curtain.

Choice Mint State 1834 No Motto $2.50

Small Head

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116 1834 Breen-6138. No Motto, Small Head. MS-64 (PCGS). Only the slightest weakness appears on the central hair details. Otherwise, very fully defined obverse and reverse. Fully prooflike with lustrous greenish gold fields and frosty yellow gold devices. A few tiny abrasions and minor planchet flakes are visible, the latter as struck. The Stack’s catalogue of April 1967 mentions a minor planchet defect on the edge, not visible due to the PCGS holder. An outstanding example for the connoisseur with an interest in first year design types. This unique head style, was only issued for a short time in 1834, after the change to a lighter weight standard for gold coinage.

Prior to 1834, the price of gold bullion steadily increased in relation to silver, as a result of vast discoveries of silver in Latin America, among various other causes. For a long time—since about 1820, gold coins had not traded at par in the channels of American commerce. Instead, most were exported. Anyone desiring them domestically had to pay a premium. Interestingly, Thomas Hart Benton, the prime factor behind the Act of June 28, 1834, insisted that his senatorial salary be paid at par in gold coins. This particular piece of legislation, which became effective on August 1, lowered the weight of gold coins to the point that they again saw use in commerce. The new lower weight quarter eagles and half eagles did not have the motto E PLURIBUS UNUM on the reverse, thus providing instant identification.

Very faint die lines may be seen with magnification, however, only a tiny die crack is visible from the eagle’s left wing to border at 2:00.

From Stack’s sale of April 1967, Lot 1567.

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117 1834 Breen-6138. No Motto, Small Head. AU-58. Sharply struck with prooflike greenish gold fields and lustrous devices. An attractive example which may qualify as fully Mint State in some viewer’s eyes. A few very minor abrasions are present. An attractive example for the date or type collector.

From same dies as previous lot and in the same die state.

Purchased from the Goliad Corporation, April 11, 1972.

Delightful 1835 Quarter Eagle

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118 1835 Breen-6141. MS-63 (PCGS). Outstanding greenish gold lustre with lilac and rose toning over reflective fields. A few minor abrasions are visible. Slightly weak at the central hair details. This is an exceptional example for the date or type collector, or for the variety specialist. As a date, 1835 quarter eagles in Mint State are much scarcer than either 1834 or 1836.

In the past decade 203 Mint State Classic Head quarter eagles have been auctioned, as follows: 55-1834; 15-1835; 52-1836; 11-1837; 17-1838; 7-1838-C; 5-1839; 3-1839-C; 13-1839-D; 25-1839-O.

Reverse with AM widely separated, this die first used in 1834. In Part II of the Bass Collection, our offering of Classic Head quarter eagles provides very basic variety attribution notes to which the reader is referred. This example is variety #1 for 1835 as listed in the aforementioned catalogue.

From RARCOA’s 1970 ANA Sale, August 1970, Lot 1432.

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119 1835 Breen-6141. AU-58. Light yellow gold with moderately reflective fields and minor abrasions. Quite weak at central obverse and reverse. An attractive example just the same, with a hint of peripheral rose toning.

Variety #2, broken M in AMERICA.

Purchased from Stanley Kesselman, August 23, 1971.

Incredible Gem 1836 Quarter Eagle

Head of 1835

Finest Certified

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120 1836 Breen-6143. Head of 1835, Script 8. MS-65 (PCGS). When Lester Merkin offered this coin in 1970, the description was very simple: "Brilliant, frosty, splendid gem Unc. A little softly struck in centers as always. By far the finest we have seen. Outclasses the usually offered ‘uncirculated’ run of this design by many points."

Fully brilliant and frosty rich yellow gold lustre with outstanding rose peripheral toning. A few very light scratches and trivial surface marks are visible. As noted by Lester Merkin, the central obverse and reverse are lightly defined, however the peripheral details are bold. A small planchet flake on Miss Liberty’s cheek probably represents a tiny spot of grease on the die.

An interesting note: PCGS has graded 18 Classic Head quarter eagles MS-65 or better. Of the total, four were or are included among coins offered in the Bass Collection sales.

PCGS Population: 1; none finer.

This is variety D as described in Part II of the Bass Collection. The present example is a very early die state with a faint crack from star 6 to the headband, continuing to the right field, almost to star 12. This crack is usually much heavier with small lumps between star 6 and the forehead. The reverse is perfect which is also quite unusual. See the next lot for an example from the typical die state seen.

From Lester Merkin’s sale of April 1970, Lot 655.

Lustrous 1836 Quarter Eagle

Head of 1835

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121 1836 Breen-6143. Head of 1835, Script 8. MS-62. Lightly abraded light yellow gold, fully lustrous and attractive. Slight central weakness is noted on both sides. A plentiful variety (in lower grades) ideal for the date or type collector.

Same dies as the previous lot, this in the typical die state seen. The obverse crack through star 6 to the headband is heavy with die chips between star and headband. This crack continues through the headband and hair, eventually reaching the border below star 12. The reverse has faint peripheral cracks through ITED STATE.

Purchased from Rowe and Brownlee, June 25, 1968.

Lustrous 1836 Quarter Eagle

Head of 1837

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122 1836 Breen-6144. Head of 1837, Block 8. MS-63 (PCGS). This wonderful quarter eagle has frosty light yellow gold lustre with trivial surface abrasions. Slightly weak at central obverse and reverse as usual. A relatively common variety, although the Head of 1837 style seems to be generally scarcer than the other styles.

Bass variety C from very nearly perfect dies with a faint crack from border to lowest hair curl, through digit 6. The berry is detached from the branch.

From RARCOA’s session of Auction ‘84, July 1984, Lot 1890.

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123 1836 Breen-6144. Head of 1837, Block 8. AU-55. Quite weak at the centers, however, attractive with considerable lustre adhering to the protected areas.

From same dies as the preceding, however, an earlier die state. The die crack through 6 is not visible and the berry is still attached to the stem.

Purchased from Steve Ivy, April 24, 1974.

124 1836 Breen-6144. Head of 1837, Block 8. AU-50. Weakly struck at the centers, typical of this design type. Minor abrasions and faint hairlines with otherwise attractive yellow gold surfaces. A few tiny rim bruises require mention. Considerable lustre remains around devices.

This is variety A which is quite scarce. A die crack from the border to lower right curve of digit 6, continues to the lowest hair curl. This is different from the die crack described at Lot 122, another Head of 1837 obverse, which has the crack from border to lower left curve of digit 6 and to the border.

125 Quartette of 1836 quarter eagles, each Head of 1837: I Variety A. VF-30 (2); F-15 I Variety C. EF-45. Each displays pleasing surfaces for the grade. (Total: 4 pieces)

The varieties are described in our Bass II Collection catalogue.

Important 1837 Quarter Eagle

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126 1837 Breen-6145. MS-63 (PCGS). Lovely light yellow gold lustre with reflective fields and frosty devices. Considerable cameo contrast adds to the overall aesthetic appeal. The surfaces have light abrasions, consistent with the grade. Very sharply struck.

This is a very scarce coin in choice Mint State, seldom appearing on the market. Throughout the 1990s, only 11 Mint State examples of this date have appeared for sale at public auction, with just three of these described as choice or gem quality.

PCGS Population: 3; 2 finer (MS-65 finest).

Bass Variety B and the same variety as the gem MS-65 example offered in Part II of the Bass Collection. Shield stripes each have three lines. The lowest arrowhead and final A are joined. Very nearly perfect dies with a short die crack from tip of the eagle’s left wing to the border at 2:00. Several microscopic die lines are noted. In his notes, Harry Bass described a crack at star 9, although we are not able to make this out.

Purchased from Jack Klausen, June 17, 1968.

Lustrous Mint State 1838 $2.50

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127 1838 Breen-6146. MS-63 (PCGS). A wonderful and scarce example with satiny light yellow gold lustre and very pleasing surfaces. Faint greenish appearance with a splash of rose near the eagle’s neck. This is a wonderful companion for the 1837 just offered, and while not quite as scarce, it is still far from common in this quality.

Described very accurately in 1970 as: "Brilliant choice Unc., frosty, uneven strike though sharper than usual; almost free of bag marks. Tiny stain behind eagle’s neck; couple of minute lint marks on cheek, as made. Extremely rare grade. One of two finest seen."

PCGS Population: 6; 4 finer (MS-67 finest).

Only one die variety is known for 1838 quarter eagles. Only stars 2, 3, 4, and 6 are not repunched.

From Lester Merkin’s sale of June 1970, Lot 656.

Lustrous 1839-C Quarter Eagle

Shattered Obverse and Reverse Dies

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128 1839-C Breen-6150. Repunched 39. AU-58 (PCGS). Very sharply struck with nearly complete light greenish gold lustre. Although a few very small abrasions and short hairlines are visible, the surfaces are exceptional for an example of this Charlotte Mint issue. A small teardrop depression in the left obverse field was no doubt as made. Just five Mint State 1839-C quarter eagles are known, the census by Doug Winter listing examples of all varieties. After those five, a small number of AU-58 coins are known, including the example offered here. This is an extremely important opportunity for the specialist.

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

Variety C with the mintmark centered over the space between 8 and 3. Date has 39 sharply recut, a variety which has been called an overdate in the past. Heavy vertical obverse die polishing lines are noted.

Obverse is cracked from the border through right side of 3, just past the mintmark and onto the neck, lightly reaching Liberty’s earlobe. Another crack bisects the obverse from star 2 to Liberty’s chin, through her hair curls, and to star 9 and the border.

The reverse is heavily cracked through the left side of primary 2 in the denomination, through eagle’s feathers and following left border of the shield, through the eagle’s beak, and curving up to A in STATES. A crack from the border at 10:00 passes above the eagle’s right wing to the first crack below eagle’s beak. Other minor cracks are visible.

From Superior’s sale of the Gilhousen Collection, February 1973, Lot 125.

Impressive 1839-D Quarter Eagle

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129 1839-D Breen-6151. So-called Overdate. AU-58 (PCGS). Bright yellow gold with strong lustre and equally strong overall appeal. A lovely specimen, among the finest we have handled over the years. Incorrectly called "1839/8-D," but "repunched date" is a more accurate description. From the final year of the design type, and the final year of the denomination to exhibit the mintmark on the obverse. A lovely coin for the grade, free of marks of note and worthy of serious bidder attention.

"Breen-6151. 1839/8-D Head of 1838-C"

Obverse with repunched 39, 1 slightly closer to dentils and tipped right, 8 lower, 3 slightly higher than 8, 9 higher yet, top of 9 touches hair, inside top of 3 and 9 show repunching, D equidistant between truncation and date, nearly completely over 3. Heavy horizontal stripes from die clash can be seen in Liberty’s hair and at ERTY on her coronet. Reverse heavily polished, olive leaves separated from branch, N of UNITED double punched.

Purchased from SeRo, March 10, 1969.

Mint State 1839-O Quarter Eagle

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130 1839-O Breen-6152. High Date, Wide Fraction. MS-62 (PCGS). The first quarter eagle from this branch mint, with satiny greenish gold lustre and extremely sharp design definition. This is an outstanding example of this very popular issue, in demand from type collectors, date collectors, variety collectors, and specialists in New Orleans history. Although a few slightly finer examples exist, this opportunity cannot be overemphasized.

Perfect obverse with lightly cracked reverse.

Two die varieties are known. This has a high date with wide fraction while the other variety has a low date and crowded fraction.

Purchased from Don Quiggins, November 4, 1972.