1806/4 8x5 Stars $2.50 PCGS AU55 CAC

BD-1, High R-4/Low R-5. It is believed that fewer than 100 examples of this variety are known from an original mintage of just 1,136. The 1806/4 quarter eagle is rare in all grades and the few high quality examples known (other than this one) are off the market in tightly-held collections. This piece is amongst the most attractive circulated early quarter eagles that I can recall having seen. It is very lustrous and shows little in the way of actual wear. Some weakness of strike at the centers is typical for the issue and even the six to eight known Uncirculated 1806/4 quarter eagles show a similar lack of detail, especially at the central reverse. The color of this coin is superb with deep yellow-gold color accentuated by splashes of red on the obverse and deeper, more even orange-gold on the reverse. There is an old, well-hidden scrape on the obverse that is located at Liberty's ear but it is almost impossible to see without a glass. This date is many times more rare than the 1802, 1804 14 star, the 1805 and 1807 yet it doesn't bring the premium it should have. I have long thought that this was amongst the most undervalued of all early quarter eagles and nearly all known circulated examples have been cleaned or processed. If you have been looking for a special piece of early gold to salt away, I'd give this wonderful 1806/4 quarter eagle some serious consideration.

Ex Heritage 7/2008: 1463 ($27,600), Ed Price collection.