1836 $2.50 HM-1 MS(PCGS#764705)

The Summer 2022 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

5008

Grade

MS63

Price

6,900

Lot Description

Scarce Choice Uncirculated 1836 Quarter Eagle 1836 Classic Head Quarter Eagle. HM-1. Rarity-3. Large Head, Block 8. MS-63 (PCGS). Die Variety: HM-1. Obverse 1: The Large Head, Block 8 combination readily attributes this obverse, which is used only in the HM-1 pairing. The style of hair curls along the top of Liberty's head is very distinct on this device punch, with deep indentations between broadly sweeping curls. There is also a prominent indentation within the curls along the back of Liberty's head. Reverse F: There is a weak, detached tongue in the eagle's mouth and small, split berry at the end of a branch stem that varies from strong to weak depending on die state. The letter D in UNITED is slightly lower than the adjacent E. Reverse F appears in the 1836 HM-1 and HM-8 pairings, the extremely rare 1837 HM-2 attribution, and the only known variety of the 1839 quarter eagle. Die Emission Sequence: The berry stem is always strong to full on examples of this variety, indicating that the 1836 HM-1 was struck before the shared reverse HM-8 pairing of the issue. It is thought to be a product of calendar year 1836. Die State: An early to middle die state of the 1836 HM-1 attribution, the berry stem on this piece is attenuated from die lapping, yet still complete. Estimated Surviving Population for the Variety: 285 coins in all grades (per Daryl J. Haynor, 2020), or 13% of extant 1836 Classic Head quarter eagles. Strike: Crisply impressed, both sides exhibit sharp to full detail from a nicely executed strike. Indeed, the 1836 HM-1 variety as a whole is one of the most consistently well produced in the entire Classic Head quarter eagle series. Surfaces: Soft satin luster on the obverse yields to a somewhat more frosty texture on the reverse. The luster is full on both sides and blends nicely with handsome light golden-apricot color. The surfaces are uncommonly smooth for the assigned grade and would not be out of place at the near-Gem level. Commentary: Writing of this variety Daryl J. Haynor (2020) states: It is not too difficult to locate an 1836 HM-1 quarter eagle, as there are an estimated 285 examples, representing a Rarity-3 rating. Locating a higher end Mint State coin, however, is nearly impossible. Clearly this upper end Choice survivor ranks among the finer known, and with its minimally abraded surfaces it a strong candidate for Condition Census standing. Whether one is assembling a high grade gold type set or specialized collection of this underrated quarter eagle series, here is a significant offering that should not be missed. Provenance: From the Daryl J. Haynor Virginian Collection. The plate coin for the 1836 HM-1 variety in the 2020 Haynor reference on Classic Gold coinage. PCGS Population (all die marriages of the Block 8 variety): 16; 14 finer (MS-66 finest). PCGS# 764705. NGC ID: 25FU. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA. Click here to see Coins in Motion.[“Coins]