1839-D Quarter Eagle

[BillJones]

I had not added a significant coin to my collection for while, so I was pleased to find an upgrade for a piece that was not quite as nice as I would have liked. This 1839-D quarter eagle is graded MS-60, which is a seldom used grade. The coin's surfaces are a bit nicer than I had expected, and the color is attractive. I acquired this coin from Doug Winter. Doug thought that it was make MS-61, and I can see why. Most MS-60 graded coins are unattractive. This one is an exception.

 

The 1839-D quarter eagle was a bit of a stopgap coin for the Dahlonega Mint at the beginning of the year. Christian Gobrecht was in the process of introducing his Liberty Head design to the half eagle, but the dies were not ready for use at the beginning of 1839. Since the Dahlonega Mint could only produce quarter eagles and half eagles, that limited their production to this coin. Later in the year did make half eagles. Those were the 1839-D Liberty Head pieces which had the mint mark on the obverse.

 

There two die varieties of 1839-D quarter eagles. This is the second and rarer one, which has been assigned the number 1-B. It is a late die state of that variety with three die breaks on the reverse. Die breaks and die clashes are not unusual for Dahlonega Mint quarter eagles. The mint personnel had a lot trouble with the production of the $2.50 pieces and didn't like to make them.

 

This is also my first coin that is housed in the new thicker PCGS slab.

 

 

[RWB]

Nice example! I like the bulging eye! Wonder what was so "eye popping" in Dahlonega that year?

[thebeav]

That's a beautiful coin.

I know what you mean about 60's.....That is clearly an exception.

Paul

[physics-fan3.14]

Oh man, that is gorgeous. Full of that fantastic Southern Charm!

 

Question on the grade though - do you feel that this is actually an UNC (a true MS-60), or is this one of those really nice sliders, an AU-58+? It is always hard to tell from pictures, even ones as good as these.

 

Speaking of - who did the pictures? They are quite an improvement over the ones you usually post.

[USAuPzlBxBob]

My Oh My!

 

I'm currently considering collection repair.

That one would have fit nicely into the scheme of things.

Well, at least I'm keeping my powder dry.

 

No errant scrapes or major detractors.

 

Getting that one as an MS 60 undoubtedly brought it down into the twenties: A steal!

 

Extremely envious!

 

 

[RWB]

Well, we all "know" it's not UNC....but who cares? It's the coin that counts, and that one is nice!

[Nutmeg Coin]

A lot of eye appeal and I don't know if there would have been that much of a price difference between AU58+ or MS61. Mr. Winter said something about how the grading services have upped some of the grades on the branch mint coins like this as striking characteristics and their understanding by grading has evolved.

 

This is an MS60 I bought years ago in the $20 Lib. series: http://coins.ha.com/itm/liberty-double-eagles/double-eagles/1866-20-ms60-ngc-like-the-1865-the-1866-is-more-difficult-to-locate-in-mint-state-than-the-1872-1874-and-1875-most-su/a/267-8003.s?ic4=GalleryView-ShortDescription-071515

 

I usually figure a 60 should be nearly damaged from what I have read.

[RWB]

Sorry, but Liberty's eye reminds me of an iguana's

[Hard Times]

Hi Bill,

I saw that one on DWN and am envious. Congrats! I have a P53, same variety, I need to image and post, not nearly as nice as this one tho.

 

Best, HT

[Nutmeg Coin]

Sorry, but Liberty's eye reminds me of an iguana's

 

Now that you mention it I agree; he looks wired on drugs or something with bug eyes.

[ldhair]

Nice coin Bill. I love it.

[BillJones]

The argument over grade and price ...

 

With these coin eye appeal plays a huge role the price.

 

This 1839-O quarter eagle is graded PCGS AU-58, CAC. I paid MS-60, Coin Facts, money for this piece. Maybe that was crazy but this piece blows every other AU graded 1839-O $2.50 I've seen out of the water. Through the years my rule of thumb has been that a nice AU-58 is worth MS-60 money for very scarce coins. From the collector perspective, I think they are worth more because to me they are more pleasing.

 

 

The price for the 1839-D goes up geometrically for small increases in quality. Since I've been looking for one of these coins, here are the price ranges, in round numbers, I've seen:

 

AU-50 $7,000 to $8,500

AU-58 $18,500 to $20,000

MS-60 $24,000 to $25,000

MS-62 $38,000 to $40,000

MS-64 $100,000 + (sold at auction twice at this level, Pogue sale included)

 

The Pugue coin is the same variety and die state as mine. You can see that the strike not is perfect on that piece because of the reverse die breaks.

 

Here a link to the 1839-D that was in the Newman collection. Less you think that the grading was more strict "in the good old days" check out what it says on the old envelope in which the coin was housed.

 

[L=Newman 1839-D Quarter Eagle]http://coins.ha.com/itm/classic-quarter-eagles/quarter-eagles/1839-d-2-1-2-au58-ngc-cac-winter-1-a-variety-26-r3/a/1215-3210.s?ic4=ListView-ShortDescription-071515[/L]

[johnny9434]

nice coin

[Hard Times]

Bill, gorgeous! Here is mine, I hope you don't mind me posting it. Not as nice as yours but same die variety. This completed my classic quarter eagle mint mark set.

 

Best, HT

 

[Hard Times]

Here is my 39-O

 

Best, HT