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1839 No Drapery 25⢠Among Important US Numismatic Offerings

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bobby131313's Avatar
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 Posted 10/09/2014  11:41 pm Show Profile   Bookmark this topic Add bobby131313 to your friends list Get a Link to this Message Number of Subscribers
1839-No-Drapery-25â¢-Among-Important-US-Numismatic-Offerings
The following is a press release from Heritage

More than 630 rare and unique American coins, offered by Heritage Auctions, Oct. 27 at the Waldorf-Astoria Hotel, from the legendary collection of Eugene H. Gardner.

NEW YORK â€" The unique 1839 No Drapery Quarter PR65 NGC, the Boyd-Pittman-Kaufman coin, one of only two No Drapery Proof Quarters known, will be the top coin in a parade of exquisite American numismatic offerings on Oct. 27, 2014, as Heritage Auctions holds the Eugene H. Gardner Collection II Signature Auction in the Duke of Windsor Suite at The Waldorf Astoria.

"Once in a lifetime" is an overused phrase in numismatics, but the expression really applies to this opportunity," said Greg Rohan, President of Heritage Auctions, "and I mean that not just in the context of the 1839 No Drapery Quarter, but on the grander scale as it applies to the entire Gardner Collection. Both this coin and this collection represent opportunities that we may not see again in our lifetimes."

Like the first offerings from the Gardner Collection this summer, the auction consists of more than 630 lots, all non-gold offerings. Chief among them are a 1796 50C 15 Stars MS62 NGC, a coin that is rare in all grades and very much in-demand with collectors of Type, Date and Variety and an 1838 H10C No Drapery PR67 PCGS, Proof, ex: Pittman, the finest certified coin of its kind, as designated by both major grading services.

An 1842 25C Small Date PR65 PCGS, ex: Eliasberg, the second-finest of five available of this classic American silver coin, is an impressive example sure to pique the interest of some of the top collectors in the hobby, while an 1823/2 25C MS61 NGC CAC, a classic unsung rarity of American numismatics, and a 1927-S 25C MS65 Full Head PCGS CAC, a remarkable strike rarity and series key, are both already attracting significant interest and creating buzz in the hobby.

Further highlights include an 1853 $1 Restrike PR66 Cameo NGC, ex: Pittman-Kaufman, a splendid rarity tied for the finest of 10 known survivors, an 1845 25C PR66 NGC, the former Adolph Menjou-John Pittman-Phil Kaufman example, clearly the finest example of this coin, and an 1871-CC 10C MS65 NGC, ex: J. Stack, possibly the sole finest graded coin of this key date and a capstone of the Gardner Collection, all of which present rare opportunities to the erudite collector to acquire these important coins.
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ArrowsAndRays's Avatar
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 Posted 10/10/2014  09:25 am  Show Profile   Bookmark this reply Add ArrowsAndRays to your friends list Get a Link to this Reply
Grading a circulated coin as a 'proof' coin seems a stretch at times.
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 Posted 10/10/2014  09:35 am  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
Grading a circulated coin as a 'proof' coin seems a stretch at times.


Why? It's still a proof no matter how much its circulated.
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fromms2244's Avatar
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 Posted 10/10/2014  09:38 am  Show Profile   Bookmark this reply Add fromms2244 to your friends list Get a Link to this Reply
The proof designation is not a grade. It is simply how the coin was struck. A proof coin is a proof from 70 or 1 and everything in the middle. I had this same conversation with a youth recently. I think we are so used to seeing virtually flawless modern proof coins that it helps us to forget that a proof is simply a proof.
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Darth Morgan's Avatar
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 Posted 10/10/2014  09:54 am  Show Profile   Bookmark this reply Add Darth Morgan to your friends list Get a Link to this Reply
Yes, proof refers to a method of manufacture. Once a proof, always a proof.
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 Posted 10/10/2014  10:19 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
I think what he might be referring to is that at first glance the PF-65 1839 quarter appears to be circulated. I can't tell if there is any actual wear but the dies do not appear to be parallel and it suffers from strike weakness on both sides. Then what is the glob of"gunk" on the right side of the PF-67 1838 Half Dime?
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 Posted 10/10/2014  11:44 am  Show Profile   Bookmark this reply Add ArrowsAndRays to your friends list Get a Link to this Reply

Quote:
This single proof example displays many of the same die characteristics noted for the business strikes. ... Since this coin shows the sharply squared-off borders and deeply mirrored fields that characterize most proof issues, we theorize that the lack of design detail in some areas was the result of die wear rather than insufficient striking pressure. The order for this proof must have come late in the year, when the dies were worn, and the die polishing further reduced the design detail in the affected areas.


It's only a theory that this coin is a proof. The listing cites a 19th century auction: "1839 Brilliant surface, resembling proof." Using Heritage's own words of art, I assume that probably it's possible that we should not be surprised if the 19th century description is more accurate.
Edited by ArrowsAndRays
10/10/2014 11:46 am
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