Rare
1807 Draped Bust $2.50 Gold
NGC AU58
- $26,900 Click on Coin Image to
enlarge
Rare
1807 Draped Bust $2.50 NGC AU58 - $26,900.
The only variety
for the year. Certainly a low-mintage date, although
this date is usually considered to be the most available
issue for this type. A further confirmation of the
early strike this particular coin received from these
dies are the moderate prooflike fields. While prooflike
characteristics are not uncommon on early gold coinage,
it adds a vibrant twist to the present coin. Together
with the light yellow color and vibrant luster it
gives the surfaces the look of a coin which was minted
recently, and not 200+ years ago.
This is a very difficult early
rare gold coin to find in this condition as you can
well imagine. As even most of these coins will show
heavy bag marks and other signs from handling, the present
AU58 coin is a major opportunity for the specialist
of early American gold coinage, the collector of a high
grade type set, or the conscious investor with a keen
eye for numismatic history.
Please contact me by email
or telephone 1-941-291-2156
to reserve this great coin.
The present coin is also important
for its status as the final issue of the first major
quarter eagle type struck at the Philadelphia Mint.
Introduced in 1796, the first year’s mintage
was split into two different subtypes, either with
obverse stars (the first type and extremely rare)
or with the addition of stars to both sides of Liberty.
The latter continued, with a few minor
alterations, to be struck until 1807. The next year
it was replaced by the equally rare Large Capped Bust,
a one-year type coin with only 2,710 coins struck.
No quarter eagles would be struck until 1821, when
the old draped bust design (as seen here) was replaced
by yet another design. All these types and issues
are rare, especially so in uncirculated condition
and are often included in listings for ‘stoppers’
in complete type sets.
Only a single die pair was used for
quarter eagle production in 1807. The obverse, obviously,
was a new die, but the reverse had been used in 1805
and 1806 as well. By the time it was used for coinage
in 1807 it had been extensively lapped, and not every
detail was as clear on the die as it had been in 1805.
This is a genuine characteristic
of this variety, and while it does not affect its
value it does provide a valuable tool for research.
On this coin, the effect of lapping is especially
visible in the center. The obverse is in its earliest
die states, with no visible signs of clashing, lapping
or die cracks.
