Lot 1504
$2.50 Gold Capped Head. 1831. PCGS graded Proof 64 Cameo. Deeply reflective fields that are straw yellow with a small amount of russet toning in the periphery. Stunning with every detail razor sharp! A very lustrous example with lighter yellow and frosty devices standing out against the mirrored fields. Some faint hairlines on the obverse and reverse. Identified by two tiny tick marks at the top of the cheekbone, a small horizontal lint mark between star 4 & 5 near denticles and a second mint-made impression diagonally cross the legs of R in LIBERTY.
The narrative for the 1831 business strike quarter eagle in Gem condition, the following lot, discusses the rarity of these early Capped Bust quarter eagles. Characterized by small mintages that later met melting and all sorts of other obstacles, this series of U.S. gold rarely exists in any uncirculated grade. Proofs are even more rare, the 1831 having an estimated mintage figure of 10 coins!
NGC has graded three 1831 quarter eagles in proof, a PF63, PF64Cameo (this coin) and a single PF66 as finest. PCGS has graded three coins as well, 2 specimens in PR62 and a single PR66 as finest. It is possible these figures are high by a case or two of resubmission inflation.
Estimated Value $140,000 - 160,000.
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