| Description |
Legend Rare Coin Auctions is honored to offer one of the greatest rarities of the Capped Bust quarter series, the 1823/2 quarter. Depending on which census you consult, this coin is either the 3rd or 4th finest known from an entire known population of 30 or 31 examples. Mint records from the year show 1,800 delivered on February 3, 1823 and an additional 16,000 were delivered on December 31. Scholars in the series believe that the actual mintage of 1823 quarters were those delivered in February, and since no records show a mintage of quarters in 1824, it is thought the 1824 examples were minted late in 1823, and none were struck in 1824. Since the quarter denomination had been sporadically produced, and in smaller numbers than the half dollars, the 1,800 mintage of 1823 quarters went into circulation and remained there for ages. The entire 1823 mintage was produced from a single pair of dies, the obverse left over from 1822 and a 3 was punched over the final 2. The Browning-1 die marriage, with 30-31 known in all, this is an extremely RARE and important Rarity-6+ die marriage, missing from most collections of early quarters. The average survivor is apt to be heavily worn and/or damaged in some way. Coins graded VF or XF are eagerly sought by serious collectors of means, and precious few survive in high grade. Behind the Proof 64, an AU58+, and an AU58, comes the presently offered PCGS AU55, and housed in the same old green tag holder it was in when it made its first modern auction appearance as part of the Benson Collection in February 2002. It has been in the same collection since January 2003, and thus is totally fresh to the numismatic market!
The surfaces are distinctly Prooflike, as to be expected of a die pair that was also used to strike a Proof example. Being high grade, the minimal amount of circulation failed to take off that delicate finish from the fields. Both sides are deeply and attractively toned in a deep blue-gray patina with iridescent olive, rose, russet, and dark golden-brown accents that come out when rotated in a light. The details show full and crisp definition, with barely any perceptible wear of any kind. In comparing the photos of the AU58 and AU58+, the reverse definition on this AU55 is fuller and shows more complete detail on the eagle's wing feathers. (Indeed, the cataloger of the 2002 Superior ANA Auction specifically noted that this coin was "finer than the R. Henry Norweb specimen" which ended up in the D. Brent Pogue Collection as PCGS AU58). When you look closely at the surfaces of both sides, you will see some minor traces of contact, which are noted for accuracy and will serve as pedigree markers on this very CHOICE AU example. The eye appeal is incredible for the date, which often times does not "come nice."
The pedigree of this wonderful example per Steven M. Tompkins extensive research is as follows: ex: Virgil Brand (?); C. David Pierce Collection, Numismatic Galleries' 1947 ANA Convention Auction, August 1947, lot 914; Edgar Levy Collection; Abe Kossoff's sale of the Edgar Levy Collection, May 1955, lot 16; Benson Collection; Ira & Larry Goldberg's sale of the Benson Collection, Part II, February 2002, lot 694; Superior Galleries' 2002 ANA auction, August 2002, lot 860; Steve Elwood; Jim McGuigan, sold to our consignor at the 2003 FUN show. Walter Breen listed the pedigree prior to the C. David Pierce Collection as being B.G. Johnson and Virgil Brand.
PCGS 1, NGC 0. This coin last sold in auction exactly 20 years to the day this description was written on August 3, 2002. The current PCGS Price Guide value is listed at $175,000 and no doubt that estimate could be exceeded when this coin, totally fresh to the market crosses the block. It should be noted that the Anderson-Dupont; Norweb; Matthews; Meyers; Pogue AU58 realized $246,750 in May 2015. This could well be a once in a generation opportunity that cannot be missed. Who knows when the next truly high grade 1823/2 quarter will appear in auction. Do NOT let this world class rarity pass you by!
Cert. Number 4664906
PCGS # 5334
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