The government ... decided in January 1837 to place the fineness of the coins, both gold and silver, upon the French basis – nine-tenths; consequently since that date the fineness of our gold coins has been 900 thousandths, the weight being the same as before. -- James Ross Snowden, A Description of Ancient and Modern Coins in the Cabinet Collection at the Mint of the United States, 1860..A fitting match for the other gem Classic Head quarter eagles in the D. Brent Pogue Collection, similarly steeped in satiny luster and boasting exceptionally frosty light yellow gold surfaces. Nicely struck for the issue, with detail in Libertys brow and ear curls and good definition at the left side of the shield. Minor marks are seen, but only a short scratch under STATES is worth noting. Just a beautiful example, with a look that is better than expected at this grade level.This coin represents an unappreciated first in American coinage history: the first American gold issue struck at the .900 standard of fineness that would persist even to the present day. Along with half eagles of this year, the quarter eagles of 1837 were struck to the specifications of the Mint Act of January 18, 1837, which spared the melting and refining department of the Mint the trouble of producing gold coins that were .899225 fine, the unusual fineness demanded by the Mint Act of 1834. The 1837 Mint legislation represented the largest wholesale change to United States coining regulations since the founding act of 1792, redefining roles inside the Mint, changing the weights of silver coins, and establishing a bullion fund that let the Mint better control the output of gold coins without being at the whims and mercy of its depositors. Though little known today, the Act of 1837 revolutionized the way the United States Mint conducted its business.Fewer 1837 quarter eagles have been certified by PCGS than any other Philadelphia Mint issue of the Classic Head type. The only example graded finer than this one is the Harry Bass coin, sold as lot 305 in our Bass II sale of 1999. Its appearance 16 years ago remains the only time a PCGS MS-65 has ever sold at auction.
