Before 1834, our coinage of gold was of little benefit except to purify and prepare the bullion for exportation and for the use of foreign mints. -- Report of the Secretary of the Treasury on the State of the Finances, December 6, 1836.A satiny treat, this quarter eagle shows rich marigold yellow across its surfaces with some warmer color around the devices. Frosty and free of significant distractions, both sides show an exceptionally fresh appearance devoid of the usual array of fine marks and hairlines. A single tiny dig above the eagles head is the only point noticeable under usual magnification. The details are strong, locally soft at the ear curl at central obverse and at the upper left side of the shield, but abundantly crisp elsewhere. A high wire rim surrounds both sides. Fine raised lines on Libertys chin, engraving remnants that would have been in the deepest part of the die face, are apparent. The U of UNITED is boldly repunched. The reverse die introduced in 1830 was used for all 1833 quarter eagles, and it would continue in use until this design type was replaced.This unimpeachable gem has few rivals for the honors of finest known of this date, standing among the very best examples of the entire design type. PCGS has certified a single Proof strike of this issue, the Eliasberg coin (PCGS Proof-66), with others held by the National Numismatic Collection and the Harry Bass Core Collection. The PCGS Population Report reflects two certifications at the MS-66 level, one of which may represent a duplicate entry of this coin, and the other of which represents the coin offered in the next lot. The only previous offerings of a PCGS-certified 1833 quarter eagle better than MS-63 are of the PCGS MS-65 Harry Bass coin, sold in Bass II as lot 273 and again in the March 2004 Bowers and Merena sale. No other example of this date graded MS-65 or finer by either service has ever sold at public auction.This was the first quarter eagle issue of the Second Philadelphia Mint, whose cornerstone was laid on July 4, 1829, and whose presses were running early in 1833. As with the other years of the 1829 to 1834 design type, just one die pair was sufficient to execute the entire years mintage. In 1833, 4,160 pieces were coined, almost precisely equal to the mintage average over the six years this design lasted. Despite this typical output, David Akers pointed out "except for the extremely rare 1834, the 1833 is the rarest date of this type." The point Akers made 40 years ago remains true today, bolstered by the PCGS Population Report data that reflects fewer 1833 quarter eagles graded (37 total submissions) than any other date of the type, save 1834.Obsolete the instant it was struck, this coin somehow avoided the fate that consumed the majority of coins of its vintage. Either melted at home or exported as bullion, the quarter eagles of Kneass short-lived design were vestiges of a gold to silver ratio that had changed immensely since 1792 and a legislative framework that was too slow to change. Few collectors pursued American coins in the 1830s, and fewer still saved gold, which makes the preservation of this piece all the more extraordinary. For any examples of this issue to survive is astounding, but to see one survive in such perfect condition is enough to inspire paroxysms of numismatic delight.
