DESIRABLE COLLECTOR GRADE 1848 CAL $2.50 WITH CAC APPROVAL

A compelling case can be made for terming this issue as the very first Commemorative coin issued in the United States. A total of 1,389 quarter eagles dated 1848 were stamped with the letters CAL on the reverse from native gold fresh from the newly-discovered California fields. Viewed as a whole, this issue is a bit more available than one would think, but clearly examples were likely saved as souvenirs. Today, very few 1848 CAL quarter eagles exist in collector grades, and there are probably fewer than 10 in the VF-EF range which are choice and original.

This piece has been off the market for years (see below) and it is a choice example with rich natural yellow-gold and greenish hues on both sides. The strike is somewhat weaker than normal for the issue, and this gives the impression of wear but there is actually a good deal of luster seen on the surfaces. The fields are choice and free of appreciable marks.

The most recent comparable for a CAC approved PCGS VF35 example of this issue is Stack’s Bowers 2019 ANA: 5281 at $43,200. Only one other PCGS VF35 has sold at auction since July 2003.

This is an important coin which should appeal to a variety of collectors.

CAC has approved three in this grade with 12 finer.

Ex Heritage 7/2003: 10127 where it sold for $18,400.

FROM THE HOUSTON COLLECTION

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