LOT Old Heritage Auctions  /  2007 Signature Coin - Charlotte, NC #434  / 

2216

1824/1 $2 1/2 MS61 PCGS. Breen-6127, BD-1, R.5. Like m

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1824/1 $2 1/2 MS61 PCGS. Breen-6127, BD-1, R.5. Like m
<B>1824/1 $2 1/2 MS61 PCGS.</B></I> Breen-6127, BD-1, R.5. Like most dates of this type, only one variety of quarter eagle is known for this issue, and it is an overdate from a leftover 1821 obverse die that had not been put to use. Although a few Mint State coins are known for this date, the majority of surviving examples (which is not many) grade between XF and AU. Lower grade circulated pieces are essentially non-existent. This suggests that these coins did not actually circulate at the time they were issued. Instead, a few pieces were hoarded by individuals for their gold content, while most were sold to early bullion dealers as their value in gold was greater than their face value. These bullion dealers were not collectors or coin dealers, and didn't care about any potential numismatic value. Probably most of the 2,600 coin mintage met their fate in this manner. John Dannreuther tells us that only about 50 to 60 examples of this date still exist today.<BR> This example is a lovely green-gold piece with full mint frost and wispy orange toning near the borders. The surfaces are moderately abraded, yet this piece retains excellent eye appeal. Like most or all known examples, it is an early die state with no evidence of die cracks, clash marks, or die lapping. The reverse die remained in use from 1821 through 1825, being mated with four different obverse dies to create a similar number of varieties. It is not known why the Mint actually took this 1824/1 obverse die out of service, as it was certainly still serviceable when the 1825 coinage began. In the earlier days of the Mint, the obverse die would have remained in service until it broke, even crossing over into a new year. Population: 3 in 61, 5 finer (3/07).<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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