294
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Session Three - Tuesday, January 27, 2015, 5:00 pm
T
HE
V
ERY
R
ARE
1841 "L
ITTLE
P
RINCESS
"
Enlargement
1859
1841
.
PCGS graded AU-53
. The 1841 quarter eagle, also known as the "Little Princess," is one of the rarest of all United States coins with
just 16 examples known. Long considered a proof-only issue, the number of known circulated examples implies that an uncertain number
were minted as circulation strikes. Unfortunately, mint reports failed to provide any records that business strikes were, in fact, coined at all.
For decades, there was nearly unanimous agreement that
all
1841 quarter eagles were struck in the proof format -- there were no business
strikes at all. There is now an ongoing debate which is of tremendous importance, even to collectors who cannot afford 1841 quarter eagles.
The debate relates to the definition of a proof and whether experts can agree on the proof status of a large number of 19th century coins,
including many that are not particularly expensive. In Feb. 2012, the Professional Coin Grading Service (PCGS) announced that most known
1841 quarter eagles are really business strikes, not proofs. They determined that all but four 1841 quarter eagles are “regular strikings,” how-
ever, many experts remain deeply divided over this issue.
Close examination of this PCGS-certified AU-53 example shows definition similar to that seen on business strikes, not proofs. There is no evi-
dence of a multiple series of strikes by the dies, no wire edge, and the fields are only modestly reflective, not deeply so, as would be indica-
tive of a proof. The definition is not quite full on Liberty's hair, the eagle's neck and leg feathers. The rim is slightly rounded on each side of
the coin as it intersects with the edge. Struck in bright yellow-gold with a slight reddish tinge at indirect light angles, a few minor marks have
collected from its time in the channels of commerce. Traces of bright luster remain in the most protected areas of the design elements. For
future pedigree identification, a pair of diagonal marks are noted to the right of the denomination on the reverse and a couple of additional
marks are seen on Liberty's cheek. These are mentioned for identification purposes only, not because they detract from this coin's attractive
appearance. Altogether, this is certainly a pleasing example of this classic gold rarity. The 1841 Liberty quarter eagle is listed among the
100
Greatest U.S. Coins.
Pop 2; 2 finer, 1 in 58, 1 in 61.
Estimated Value ........................................................................................................................................................$120,000 - 130,000
H
IGHLY
E
LUSIVE
1842 $2.50 L
IBERTY
Enlargement
1860
1842
.
PCGS graded AU-55
. In 1842, the Mint at Phila-
delphia coined a very small amount of 2,823 quarter
eagles. Since that time, most were either lost over time,
heavily circulated, and cleaned or damaged. Surviving
examples in any grade are rare with an estimate by PCGS
of just 50-60 pieces presently known. This Choice AU pres-
ents typical light wear on each side, with a few small marks
visible above the eagle. Struck on a soft green-gold plan-
chet with subtle hints of orange in certain recesses. This
piece certainly boasts a pleasing level of eye appeal.
Pop
2; 2 finer, 1 in 58, 1 in 62.
(
PCGS # 7723
)
Estimated Value ........................................ $7,500 - 8,000
C
ONDITIONALLY
R
ARE
N
EAR
-M
INT
1842-D
Enlargement
1861
1842-D
.
PCGS graded AU-58
. Very well struck by the
standards of the Dahlonega Mint, both the obverse and the
reverse exhibit a pronounced sharpness of detail with only
the lightest signs of handling from circulation. There are no
individually distracting abrasions, and the surfaces show
subtle green-gold color with flickers of modest reflective-
ness remaining in the fields. The 1842-D is a highly elusive
issue with a mintage of just 4,643 pieces. Presently, only 75
to 85 coins are believed extant in all grades (per Doug Win-
ter,
Gold Coins of the Dahlonega Mint: 1838-1861
). An
important high grade offering for the gold enthusiast or
type collector.
Pop 5; none finer at PCGS.
(
PCGS #
7725
)
Estimated Value .....................................$17,000 - 18,000
