1806/5 $2.5 7x6 Stars AU58 PCGS

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Lot 1079
1806/5 $2.5 7x6 Stars AU58 PCGS
BD-2, High R.5. The year 1806 was the penultimate date for the Capped Bust Right type, which was retired in favor of John Reich's Capped Bust Left design in 1808. Two die varieties are known for the date, both are overdates, 1806/5 (this coin with 7 x 6 obverse stars and 1806/4 with 8 x 5 obverse stars). From a miniscule mintage of just 480 coins, experts agree that this date is tied with the 1841 as the third rarest date in the entire quarter eagle series! It is estimated that only 25-35 examples are known in all grades. In his book, Early U.S. Gold Coin Varieties, John Dannreuther calls the issue "one of the rarest of the early quarter eagles." In their Encyclopedia of U.S. Gold Coins 1795-1933, Jeff Garrett and Ron Guth explain the unusual circumstances of the 1806/5 striking:

"The 1806/5 overdate represents one of the rare instances when a die that had already been used to strike coins in one year was softened, overdated, rehardened, and then used to strike even more coins. Most other overdates occur on unused dies from previous years."

We theorize that the overdated (1806/5) obverse die probably failed very soon after being put into production, thus the limited mintage of just 480 coins.

The present coin is well struck, although some typical weakness is detected at the central regions on each side. Only slight wear is noted on the highest points of the design with no singularly mentionable marks or other surface problems. A prominent die crack is visible through the top of LI in LIBERTY and a small area of deep toning is seen within the right side of the shield. When researching both PCGS and NGC, we find a total of 10 examples have been certified in AU58, with eight finer. (PCGS 7655)

Sold for US$ 64,350 inc. premium

Coins and Medals

2 Jun 2014, 10:00 PDT

Los Angeles

1806/5 $2.5 7x6 Stars AU58 PCGS
BD-2, High R.5. The year 1806 was the penultimate date for the Capped Bust Right type, which was retired in favor of John Reich's Capped Bust Left design in 1808. Two die varieties are known for the date, both are overdates, 1806/5 (this coin with 7 x 6 obverse stars and 1806/4 with 8 x 5 obverse stars). From a miniscule mintage of just 480 coins, experts agree that this date is tied with the 1841 as the third rarest date in the entire quarter eagle series! It is estimated that only 25-35 examples are known in all grades. In his book, Early U.S. Gold Coin Varieties, John Dannreuther calls the issue "one of the rarest of the early quarter eagles." In their Encyclopedia of U.S. Gold Coins 1795-1933, Jeff Garrett and Ron Guth explain the unusual circumstances of the 1806/5 striking:

"The 1806/5 overdate represents one of the rare instances when a die that had already been used to strike coins in one year was softened, overdated, rehardened, and then used to strike even more coins. Most other overdates occur on unused dies from previous years."

We theorize that the overdated (1806/5) obverse die probably failed very soon after being put into production, thus the limited mintage of just 480 coins.

The present coin is well struck, although some typical weakness is detected at the central regions on each side. Only slight wear is noted on the highest points of the design with no singularly mentionable marks or other surface problems. A prominent die crack is visible through the top of LI in LIBERTY and a small area of deep toning is seen within the right side of the shield. When researching both PCGS and NGC, we find a total of 10 examples have been certified in AU58, with eight finer. (PCGS 7655)
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1806/5 $2.5 7x6 Stars AU58 PCGS
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