VERY RARE CONDITION CENSUS 1842 QUARTER EAGLE GRADED AU55 BY PCGS WITH CAC APPROVAL

The 1842 is one of the five rarest Liberty Head quarter eagles from the Philadelphia mint and it is the most affordable and undervalued of this quartet. There were only 2,823 struck and between 50 and 60 are known with most in lower grades. Fewer than 10 properly graded AU pieces are known and this date remains unique in Uncirculated with the only one known a PCGS MS62 (ex Superior 9/99: 1863 at $31,050) which I purchased and sold to a Kansas collector.

This piece is fresh-to-the-market and it is among the finest known for the issue. Unlike nearly all 1842 quarter eagles, it shows nice natural color which in this case is a medium green-gold hue. The strike is sharp, luster can be seen beneath the aforementioned color and the surfaces are choice save for a small reverse mark beneath the right wing.

No PCGS AU55 has sold since Bowers and Merena 7/02: 708 and this coin brought $9,775 in a market which didn't yet understand the true rarity of this date in higher grades.

I have only handled two other 1842 quarter eagles in AU55 and both sold quickly.

CAC has approved two coins in this grade with one finer. Just six have been approved in total.