1840 $2.50 PCGS AU58 CAC

This numismatically significant issue (it is the first Liberty Head quarter eagle from the Philadelphia mint) is a scarce and misunderstood date. There were 18,859 produced but the survival rate is quite low with maybe as few as 150-200 known. It is usually seen in VF-EF grades and the few that are known in Uncirculated come from a small hoard found in the 1990's that contained some superb frosty pieces in the MS62 to MS64 range. In the higher circulated grades, this date is rare and extremely underrated especially with original color and surfaces. This is the first 1840 quarter eagle I can recall having seen with deep, attractive color and the rich reddish-gold and green-gold hues that rest on both signs are just marvelous. This coin has no real wear, just some slight friction from numismatic handling and its eye appeal is off the charts. If you go strictly by auction records and price guides, this coin is going to seem expensive but it is one of just two graded by PCGS in AU58 and the other, ex Bass II: 321, brought $3,451 all the way back in 1999. I really like this coin and if I were a collector with a budget of around $5,000 per item, this is exactly what I would be buying.

This is the only CAC approved 1840 quarter eagle in AU58. There is one finer: an MS64.