LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3379

1796 $2 1/2 No Stars MS61 NGC. Breen-1, Breen-6113, Ba

Currency:USD Category:Coins & Paper Money / US Coins Start Price:118,000.00 USD Estimated At:1.00 - 2.00 USD
1796 $2 1/2 No Stars MS61 NGC. Breen-1, Breen-6113, Ba
<B>1796 $2 1/2 No Stars MS61 NGC.</B></I> Breen-1, Breen-6113, Bass-3002, BD-2, R.4. BD Obverse State c/Reverse State b. A one-year type coin; the only No Stars quarter eagle (or early gold or silver coin); the first date of the denomination; a 210-year-old coin with an estimated original mintage of only 963 pieces; the first coin struck with 16 stars to commemorate Tennessee's admission into the Union; the rarest gold type coin; likely the second-rarest type coin, inclusive of all metals--how many other U.S. coins have so many claims to fame and desirability? (Answer: none.)<BR> Jeff Garrett and Ron Guth's <I>United States Coinage--A Study by Type</B></I> (2005) says concerning this transcendent type rarity, "The quarter eagle denomination debuted in 1796, and the first type appeared without any stars on the obverse, making it the only 'star-less' early U.S. silver or gold coin. All examples of this type were struck at the Philadelphia Mint, and only in a limited quantity of 963 pieces. This design presents a real challenge to the type collector because of its great rarity. Nevertheless, a surprising number of high-grade circulated examples exist. In fact, it is easier to find a nice About Uncirculated example of this type than it is to find one in Very Fine. <B>In Mint State, this type is virtually unobtainable and extremely expensive.</B></I> Emphasis ours. "<BR> This BD-2 variety, also known as "Normal Arrows," is the collectible variant of the year. (John Dannreuther, in the new Bass-Dannreuther early U.S. gold reference, pegs the estimated mintage at 897 pieces, subtracting the estimated 66 pieces of the BD-1 "Extended Arrows" variety.) On the reverse the arrowheads end nearly beneath the right upright of the N in UNITED. The D in UNITED is near a wing feather. On the single obverse die, the 1 in the date is bolder than 796, and fairly close to, but not touching, the hair curls. The 6 in the date is jammed up against the bottom of the drapery.<BR> This piece appears to be in the BD Obverse/Reverse States b/c. Slight traces remain, after lapping, of the previous die crack joining the bottoms of LIBER, here visible as a threadlike connection from B to E and a small remnant connecting the right side of the bottom serif of R with the diagonal stroke. The reverse shows a lumpish die break at the tip of the eagle's right (facing) wing. The BD reference comments, "This popular one-year type coin trades, no matter what the die state, mainly on eye appeal and the absence of problems, whether Mint-caused, circulation related, or jewelry related." If that is so, then the successful bidder on this delightful--and delightfully rare--gold type coin will rejoice. The surfaces are a consistent orange-gold, with considerable reflectivity present on each side, and few mentionable distractions. Scrutiny beneath a lens reveals a few obverse adjustment marks through the hair and cap, and a bit of strike weakness through the center--but no surface distractions or impairments remotely worthy of singling out. A lovely coin, one of the utmost rarity, beauty, and historic importance. Census (as 1796 No Stars): 4 in 61, 5 finer (11/06).<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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