The 1842-O is the second rarest New Orleans quarter eagle from the standpoint of overall rarity. In Uncirculated, it is the third rarest after the 1845-O and the 1856-O. There are probably no more than 10-12 known in Uncirculated with most in the MS60 to MS61 range. The finest known examples grade MS63.

1842-O quarter eagles were struck from a single die pair but there are numerous “looks” seen for the date. This piece is probably a later die state and it shows some weakness of strike at the centers and on the radial lines in all of the stars. However, the high spots are totally free of wear and the luster is thick and frosty below nice natural maize-gold and medium orange hues. There are some light contact marks in the fields that are consistent with the grade and a small, thin scratch from the outside of the O in OF down towards the left wing is barely seen with the naked eye.

Since the middle of 2008, there have been exactly three 1842-O quarter eagles in PCGS MS61 that have sold at auction. These realized $8,625, $9,488 and $10,063 respectively and none were approved by CAC.

This is an important opportunity for the collector who is either working on a high quality set of quarter eagles from this mint or a specialist who is assembling a set of undervalued quarter eagles in Uncirculated.

This is one of two examples approved by CAC in this grade; none finer have been approved.

ON HOLD