I was very successful today, both in regard to the number of pieces bought, and the low prices at which they were secured. -- George Massamore to T. Harrison Garrett, June 15, 1883.There are few names more revered in the numismatic community than Garrett, and this coin serves as prime evidence why. The surfaces show the deep orange patina that is an inimitable hallmark of old-time originality, resplendent with satiny luster and whose color deepens to rust as it approaches the rims. Bright and frosty, the satiny luster yields to reflectivity under a direct light. The details are sharp, save for small regions at the typically soft areas at precise center of both sides. The fields are close to immaculate, with careful examination discovering a short line beneath Libertys lips, an equally short horizontal abrasion left of star 11, a solitary mark under E of AMERICA, and precious little else. Even gem examples of this type are often busy with minor hairlines or show a scattering of marks; this example is a step above, a truly exceptional piece, and one of the very finest survivors of the entire design type.Gorgeous and glittering, enriched by a century-and-a-half long provenance, this is a numismatic jewel. It shared cabinets with the previous lot for a century or more, first in the collection of William J. Jenks until 1883, then the Garrett family and Johns Hopkins University from that point until its sale in 1980. Its price in the Garrett sale -- $125,000 -- was surpassed among quarter eagles by only the extremely rare Proof 1834 Classic Head, a reflection of its magnificent quality. In the Garrett catalog, this coin was termed "a gem piece, fully Choice Brilliant Uncirculated, MS-65, with nearly full prooflike surface, if not even finer." A decade later, David Akers cataloged this piece for Auction 90 in effusive terms. "Not only is it the finest 1831 $2 1/2 we have seen or heard of," he wrote, "it is also the finest example of the type we have seen, and thus is one of those one-of-a-kind numismatic treasures that even the most sophisticated collector or investor yearns to own." His point that "this piece would bear favorable comparison to virtually any common date, superb quality Liberty $2 1/2 struck 70 years later!" is not only accurate, but a perfect way to characterize this coins spectacular surface quality.While there are other high grade survivors from the tiny mintage of 4,520 coins, none boasts this kind of color, this kind of surface quality, and this kind of presence. The second best one sold in the last several years is the Bass II:272 specimen, offered again in July 2005 and January 2008. Its most recent offering represents the sole appearance of an 1831 quarter eagle graded finer than MS-65 by PCGS. This is one of just two PCGS MS-67 coins graded of this design type. The other, dated 1829, last sold nearly a decade ago in August 2006. This piece has been in the D. Brent Pogue Collection since it was acquired in 1990, a quarter century ago.
