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An 1839 Quarter Eagle - From AU-55 To AU-58 In Two And Half Years

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billjones's Avatar
United States
1499 Posts
 Posted 07/13/2016  3:16 pm Show Profile   Bookmark this topic Add billjones to your friends list Get a Link to this Message Number of Subscribers
Here is an example of how the grade on a coin can change. I recently purchased this 1839 quarter eagle for a set that I am looking to finish. Don't let the Philadelphia Mint thing fool you. This is tough date that is every bit as scarce as the pieces from the southern mints. Here are some "Coin Facts" estimates:

Date/Estimated number of survivors/Estimated number of Mint State coins

1839-P / 115 / 7
1838-C / 250 / 5
1838-D / 200 / 8
1839-O / 400 / 20

Heritage sold this coin in February 2014 in an AU-55 holder. Here are their photos:

An-1839-Quarter-Eagle---From-AU-55-To-AU-58-In-Two-And-Half-Years An-1839-Quarter-Eagle---From-AU-55-To-AU-58-In-Two-And-Half-Years

I recently purchased this coin. It is now in an AU-58 holder. When I entered the serial number that was on the AU-55 holder into the PCGS certification check site, it came back as an invalid serial code. The number on this coin in its AU-58 holder comes back as a valid number, but there is no record that it has been sold in a major auction.

Here is coin today. My photo makes the marks on this piece look worse than they are in person, as usual.

An-1839-Quarter-Eagle---From-AU-55-To-AU-58-In-Two-And-Half-Years An-1839-Quarter-Eagle---From-AU-55-To-AU-58-In-Two-And-Half-Years

The brown spots look like copper spots on the Heritage photo, but they aren't there today. The coin has original looking surfaces, and I can't find any evidence that they were lifted. It's also interesting to note that they did not show up on the photos Heritage put up of the entire slab. I can only assume that they were some sort of an anomaly on the Heritage close-up photos.

At any rate, here is coin that has gotten three grading points better in two and a half years.
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bpoc1's Avatar
United States
4078 Posts
 Posted 07/13/2016  3:56 pm  Show Profile   Bookmark this reply Add bpoc1 to your friends list Get a Link to this Reply

Quote:
At any rate, here is coin that has gotten three grading points better in two and a half years.

Amazing and scary.


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billjones's Avatar
United States
1499 Posts
 Posted 07/13/2016  3:59 pm  Show Profile   Bookmark this reply Add billjones to your friends list Get a Link to this Reply
Here is a picture of the coin when it was in its AU-55 holder.

An-1839-Quarter-Eagle---From-AU-55-To-AU-58-In-Two-And-Half-Years
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Zurie's Avatar
United States
5668 Posts
 Posted 07/13/2016  4:26 pm  Show Profile   Check Zurie's eBay Listings Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
Odd, if it was just cracked out and resubmitted, you would think the old PCGS number would still be valid.

Maybe if you keep it for a few more years, it will turn into an MS coin!
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Coinfrog's Avatar
United States
94367 Posts
 Posted 07/13/2016  4:59 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Interesting story. Either way, a beautiful coin; was unaware of the scarcity of the Philadelphia issue.
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coinlover1899's Avatar
United States
3058 Posts
 Posted 07/13/2016  5:25 pm  Show Profile   Bookmark this reply Add coinlover1899 to your friends list Get a Link to this Reply
Wow! That is a cool story!
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thq's Avatar
United States
3343 Posts
 Posted 07/13/2016  7:09 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Nice coin to have, and glad it's improving with age for you. I think lighting from multiple directions hides the shadows from the surface dings. It's surprising how rare and underappreciated the P mints are. I have a VG 1844, estimated survival of 65. I got it for a third the cost of one of the higher survival branch mint coins.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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billjones's Avatar
United States
1499 Posts
 Posted 07/14/2016  08:29 am  Show Profile   Bookmark this reply Add billjones to your friends list Get a Link to this Reply
I think that this piece was submitted for PCGS reconsideration and won the argument. For that reason the old serial number was retired, and PCGS gave it a new one. The alternative is that someone cracked it out and sent the label to PCGS. PCGS used to pay 50 cents apiece for those, but I think they almost never had to pay up on that. Crack-outs are one of the main reasons why the population reports are no more than guides. Many coins have been double counted.
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