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January 23, 2015

COIN OF THE WEEK

Splendid 1802/1 $2.50 GOLD PCGS AU50
Click on Coin Image to enlarge


Splendid 1802/1 $2.50 PCGS AU50 - $18,950.

1802/1 Overdate $2.50 PCGS AU50. This hugely popular early US gold quarter eagle overdate displays lovely original fields with really excellent eye-appeal in addition to just being a really great early gold coin to own, some put both sets of earlies together, one consisting of all 1790’s dated coins and another with all early 1800 dated coins and it would be a perfect coin for a hand selected early US gold type set.

Neat adjustment marks, as made by the Mint during the time of striking are noted near the left obverse rim, but are not distracting and give valuable insight into the practices at the Mint in the early 19th century. The spiked shield is easily visible, making this coin easily identifiable when it comes to the variety. A great, original example of this seldom offered early American gold coin, a rare survivor showing a total of only 8 coins graded as such by PCGS.

Please contact me by email or telephone 1-800-624-1870 to reserve this great coin.

The so-called 'Spiked Shield variety', one of those coins whose overdate status has been disputed. While the last digit of date certainly shows traces of an under digit, we can not say with certainty if this is a 1 or something else, perhaps a repunched 2. More modern researchers agree with us on this, and some, including the Bass-Dannreuther has listed this date just as ‘1802’. NGC did the same on their holder, where the correct variety was not identified, but for completeness and because of numismatic tradition we will continue to call this an 1802/1, for now. Most of the research has focused on the half eagle, which also has an overdated variety, as did the half cents that were struck in 1802 (over 1800). As can be seen, this certainly was common practice at the Mint, and certainly used in 1802 on a number of different denominations.

The total mintage of the 1802 quarter eagle was divided over three die marriages, all which shared a common obverse die paired with a different reverse die. The present variety, constituting most examples of this date is easily identified by the reverse, which will show a line (spike) from the upper left shield tip to the left (viewer’s right) of the eagle’s wing. This is basically the only diagnostic that is needed to identify this variety, and can be seen easily, even without magnification. This die was used for two different dime varieties as well, as it was common practice at the early Philadelphia Mint to use some dies for both the dimes as well as quarter. This was done to save costs for the Mint at the time, where money was hard needed during its first couple of decades.


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ADDITION NEW COINS ADDED - (Week of 1/23/2015)

Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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