1834 Capped Bust Quarter. B-1, FS-901. Rarity-1. O/F in OF. MS-65 (PCGS).A magnificent Gem displaying vibrant shades of rose, turquoise, and golden iridescence across both sides. The fields are lightly prooflike and contrast delightfully with the richly frosted design elements. Sharply struck and free from mentionable friction. This is a tremendously important piece for early quarter specialists and ranks as the sole finest example certified by PCGS under this variety. To prepare the quarter denomination for close collar production in 1831, Engraver William Kneass modified the existing Capped Bust design by John Reich to allow it to fit onto smaller planchets of uniform diameter. Kneass refined the portrait and eagle, removed the scroll upon which the Latin motto E PLURIBUS UNUM had been inscribed, and added a raised border around both sides. This type has since become known to numismatists as the Reduced Diameter, Reduced Size or, more informally, Small Size Capped Bust quarter. It was produced from 1831 through early 1838. Like its Large Diameter predecessor of 1815 to 1828, this type is among the more underrated in U.S. numismatics. Mint State examples of all issues are far scarcer than generally realized, and they are rare relative to demand. This Gem 1834 is of further interest due to repunching around the letters OF A in the legend, the reverse die previously used to strike the 1833 B-2 O/F in OF variety. PCGS Population (B-1, FS-901 variety only): 1; none finer.Ex Heritages sale of April 2015, lot 4096.
