1806/5 $2.50 Stars 7x6 MS(PCGS#7655)

1806/5 $2.50 Stars 7x6 MS (PCGS#7655)

August 2011 Chicago ANA - Rarities Night

Lot Description: 1806/5 Capped Bust Right Quarter Eagle. HBCC-3015, BD-2. Rarity-5+. Stars 7x6. AU-55 (PCGS). CAC. A beautiful example of this very rare date. Richly toned in a manner that is not often seen on gold coins today. A virtual sunburst of reddish orange, pale blue, olive and violet is nicely blended across the obverse, with areas of lustrous deep gold in the protected recesses. The reverse also retains nice luster and similar toning, but to a lesser degree. The strike is soft in the usual positions, but strong enough that there are vestiges of the eagle's breast feathers. Just 480 coins were struck by this interesting die pair. The reverse was the die used for all 1805, 1806 and 1807 quarter eagles, as well as the entire mintage of 1807 dimes. The obverse was used originally to strike 1805 quarter eagles. The date was repunched after the dies were annealed a second time, and this issue was produced. This is a rare case, but it is known to have happened with other dies as well, which illustrates that the Mint valued a prepared die and was more than willing to save the time and expense that would have been required to create a new die if an older one could be salvaged, whether previously used or not. It is estimated that fewer than 35 examples are known today, and this one is a particularly attractive one. It is also a very respectable grade, as there are just six pieces graded finer by PCGS. A lovely rarity for a specialist.<br />