Lot 1622
1827. Restrike. NGC graded Proof 64 Restrike. Straight base of the 2 in 25¢ on the reverse. Struck from the original 1827/3 quarter obverse die paired with a reverse that had been used to coin 1819 quarters. Both dies exhibit extensive rust, and it is believed that these were struck some years later, perhaps 1850 or 1860, possibly in the Philadelphia Mint where the original dies were stored. Curiously, three examples exist of this restrike die pairing which show minimal die rust, clearly showing that there was significant time between the first restrikes and the second.
The surfaces of the coin are toned a deep bluish gray with dark rose colors on Liberty. Moderate hairlines are noted in the fields, covered over well by the toning. Similar toning and quality on the reverse, with blue and sunset gold shades in the lettering and crossing hairlines in the fields. A light die crack extends from the rim through the right side of the U of UNITED into the eagles wing. The reverse die has been lapped to reduce the extensive rust, quite a bit of which still shows. The D of UNITED is cut very low into the die.
In the NGC Population Report, only three have been graded as such, with four graded higher. Similar numbers at PCGS, with just two graded as PF-64, and two graded higher, making this in the top dozen known of perhaps 20 in all. Long reported that around a dozen were known, which may still be true when one considers how many rare coins are broken and out and resubmitted to various grading services while shopping for the highest grade, and most market value. This skews the Population Reports and makes pedigree tracing difficult at best. We do note a small tick mark on Liberty just in front of her curl which rests on her shoulder. There is also a minor dent on the left side of the horizontal shield lines, where the centering dot normally would be.
The strike is sharp on the central devices, while most of the stars only show parts of their central radial lines. As noted, the reverse die was lapped making the devices thin and shallow, while the rust is extensive, appearing as raised lumps in the fields and on some of the devices. Normally dies are stored in a heavy coating of grease, which slows or prevents this type of rust from occurring. On the earlier restrikes, planchets show overstriking. Not so here, no traces of undertype could be found, and the rim could not be examined as it is currently in a slab. In NGC holder #577063-001.
Estimated Value $50,000-UP.
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