<p>The superb specimen in a New York State type set – David W. Akers One of the most important coins in the D. Brent Pogue Collection of quarter eagles, this is the single finest specimen of this date known and a truly original gem. It is intensely lustrous, with spinning cartwheel on both sides, a haze of frost around design elements and peripheries, and bold reflectivity in the fields on both sides. Pale silver-blue and faint rose toning frames the obverse, while the reverse periphery is more deeply toned in rose and orange around deep golden centers. A wonder coin, a miracle of survival, this specimen makes a visual impression that is unforgettable. Aside from a few pinprick-sized contact points in the right obverse field, the surfaces are free of marks. Hairlines are sparse and ancient. Evidence of planchet adjustment can be seen at the bust truncation above 17 and at central obverse among Liberty s hair, lighter evidence among the denticles above stars 4 through 6. Early die state with no cracks, though a good deal of polishing of the reverse die has left the wing feathers sparse in areas. </p><p>Finest known by general acclamation, this coin is mentioned in David W. Akers’ cataloging of Auction ’89, where a lovely Mint State example of this issue was described as the second finest example of this date that we know of, surpassed only by the superb specimen in a prominent New York type set. Presumably Akers knew about the Harry W. Bass, Jr. core collection example, another claimant to the crown. Pedigreed to the 1959 American Numismatic Association sale, the famed 1963 J.F. Bell (Jacob Shapiro) sale, and the 1970 American Numismatic Association sale, the Bass coin remains impounded in the Harry W. Bass, Jr. Collection at the American Numismatic Association. Breen discusses Bass s specimen as a possible presentation strike in his work on Proof coins, which means little more than the fact that it is finely reflective and in a superb state of preservation. Whether this coin or the Bass coin is finer is academic; indeed, both are so nice that it may be a question of taste. The present coin has more vivid toning, while the Bass coin has more flash. Notably, Bass never owned another example of this variety, despite his propensity to buy duplicates of many varieties. With the Bass coin off the market, there is not a single specimen that can compete with this one for primacy. PCGS CoinFacts records three offerings of a coin graded Mint State by PCGS, and two offerings of a coin graded Mint State by NGC, but these represent just two discrete examples: this coin and its closest runner up. The two sales listed at the MS-65 PCGS level are both this coin, selling at Superior in 1991 and Sotheby s in 2000. Every other offering is of the coin sold by Akers in Auction ’89, the second finest known. It was offered in 1992 as PCGS MS-62, in 1993 as NGC MS-63, and in 2006 and 2008 as NGC MS-64, selling most recently for $218,500. Despite the other coin s status being elevated by resubmissions, it will never be as fine as this one. This reflects the danger of accepting population reports without careful analysis. The Bass-Dannreuther book estimates a total population of 25 to 30 known from these dies, roughly 5% to 10% of an estimated original mintage of 256 to 554 coins, numbers that reflect different small deliveries of this denomination from the coiners to the Mint s treasurer and the uncertainty of whether the deliveries represent one die variety or another. At least three survivors are in institutional collections (National Numismatic Collection earlier from the Mint Cabinet, the Harry W. Bass, Jr. Collection at the American Numismatic Association, and the collection of the American Numismatic Society). Perhaps 20 or a few more remain in collectors’ hands in all grades, but there is only one gem: this one. Beyond this coin s importance as the single finest known of this date, it is one of the best preserved examples of this entire design type. The only With Stars early quarter eagles from 1796 to 1807 that PCGS has graded at the MS-65 level are the Byron Reed 1796 With Stars (a million dollar coin), this coin, and the Pogue 1807—elite company indeed. </p>
