SOLD – $2.50 – 1802/’1′ PCGS AU53 CAC

1802-1_250_P53_CAC.jpg
1802-1_250_P53_CAC.jpg
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SOLD – $2.50 – 1802/’1′ PCGS AU53 CAC

22,150.00

Serial Number 7650.53/28920859

PCGS Lookup Number 7650

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BD-1 (R-4).

The Draped Bust with Stars quarter eagle type was made from 1796 through 1807. Only the 1807 is seen with any degree of frequency and of the 3,035 examples struck in 1802, it is doubtful if more than 125-150 exist, mostly in the EF45 to AU55 range. I regard this type as being keenly undervalued in regard to half eagles and eagles of this era.

This is a superb, totally original example with rich reddish-gold color at the borders and this frames slightly less intense orange-gold at the centers. The surfaces show quite a bit of natural luster and what appears to be wear at the centers is mostly typical weakness of strike. I feel this coin should grade at least AU55 as it has more body and eye appeal than mostly early quarter eagles in this range.

The last APR for an AU53 1802 quarter eagle is an NGC coin sold as Stacks Bowers 11/11: 9208 at $18,400. In 2006 and 2007, an NGC and PCGS coin brought $17,250 and $18,400, respectively. In my opinion, none of these three coins was as choice as the current example.

For most collectors of early gold, this will be an ideal type coin.

CAC has approved two in this grade with 17 finer.