SOLD - $2.50 - 1842 PCGS AU58+ CAC

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SOLD - $2.50 - 1842 PCGS AU58+ CAC

16,500.00

Date       1842
Grade       PCGS AU58+ CAC
PCGS Price Guide       15000 (in +)
Population (PCGS)       3/1 (only 1 in +)
Population (NGC)       4/1 (none in +)
Population (CAC)       1/0
Serial Number       7723.58+/84081471
PCGS Lookup Number       7723

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LIKELY SECOND FINEST KNOWN 1842 QUARTER EAGLE

Except for the 1841, the 1842 is the rarest Philadelphia quarter eagle made prior to the Civil War. A scant 2,823 were made and there are an estimated 50-60 known. This issue is unique in Uncirculated (I bought a PCGS MS62 for $31,050 all the way back in 1999) and I am aware of three properly graded AU55's as well as two in AU58.

This fresh-to-the-market example represents the third nice 1842 quarter eagle I have offered in the last year which is remarkable as I hadn't owned one better than AU50 in over a decade. A strong case can be made for calling this crisp coin "Uncirculated" as it is fully lustrous and seems to be free of any actual wear. Both the obverse and reverse are toned to a rich yellow-gold hue and the surfaces are choice.

No PCGS AU58 1842 quarter eagle has ever sold at auction. An NGC MS60 realized $15,275 as Heritage 1/14: 5359 and that coin was clearly inferior to this example.

If this were a Dahlonega quarter eagle of comparable rarity, it would readily sell in excess of $50,000. As a not-as-popular Philadelphia counterpart, it remains an exceptional value and it will become a centerpiece of a fine specialized collection.

CAC has approved one in AU58 with none finer.