LOT Old Heritage Auctions  /  2007 (ANA) Signature Coin Auction #444  / 

1781

1840 25C Drapery PR65 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:32,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1840 25C Drapery PR65 NGC
<B>1840 25C Drapery Quarter PR65 NGC.</B></I> Ex: P. Kaufman. Briggs 1-A (although incorrectly identified in the Eliasberg catalog as Briggs 2-B). A remarkable and extremely rare issue, tied with the Pittman coin for the finest of just three known pieces and the only two that are available to collectors.<BR> The modified hub with drapery at Liberty's elbow was used for all 1840 quarters coined at the Philadelphia Mint. New Orleans coined both types, No Drapery and With Drapery. Inexplicably, Breen included an entry for 1840 "No Drapery" quarters in his <I>Proof Encyclopedia</B></I>. He also included another entry for 1840 With Drapery quarters. In his 1989 <I>Revised and Corrected Edition</B></I>, Breen advised deletion of the No Drapery section. However, the reader is not told how to handle the deleted information. In the Eliasberg catalog, Dave Bowers elected to quote the passage about the "No Drapery" quarters when this coin was offered, but failed to acknowledge the additional information provided for the With Drapery coins.<BR><B><BR> 1. PR65 NGC.</B></I> <B>The present coin.</B></I> <I>Louis E. Eliasberg, Sr. (Bowers and Merena, 4/1997), lot 1422.<BR></B></I><B><BR>2. PR65 NGC. </B></I><I>Allenburger Collection (B. Max Mehl, 3/1948), lot 984; John Jay Pittman (David Akers, 5/1998), lot 1300; Superior (1/2004), lot 284.<BR></B></I><B><BR>3. Proof.</B></I> <I>National Numismatic Collection; Smithsonian Institution.<BR></B></I><BR> A faint die crack from the second T in STATES to the top of the eagle’s head positively identifies the reverse die. The die crack becomes extremely faint, but can be followed through the eagle, shield, right wing, middle arrowhead, and finally to the lower right border. <BR> Every feature that was engraved in the die is fully visible on this sharp proof. The fields have excellent depth of the mirrored finish. Light champagne and gold toning on the obverse is accented by peripheral lilac and blue. Deeper gray toning on the reverse is framed by peripheral blue, green, amber, and gold. Census: 2 in 65, 0 finer (6/07).<BR><I>From The Phil Kaufman Collection of Early Proof Sets, Part One.</B></I> (#5529)<BR><BR><BR><B>Coin Engraver:</B> Christian Gobrecht<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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