1836 Classic Head Quarter Eagle. HM-3. Rarity-7. Head of 1837, Script 8, No Berry. AU-50 (PCGS). <strong>Die Variety:</strong> HM-3. Obverse 3: Head of 1837 with Libertys nose, forehead and front of the fillet forming a nearly straight line. Script 8 in the date. Most of the stars around the periphery are closer to the denticles than to the bust, with stars 1 and 13 most pronounced in this regard. HM-3 represents the only use of this obverse die. Reverse E: The only reverse of the issue with no berry in the branch. This workhorse reverse die appears across four attributions dated 1835 and 1836.<p><strong>Die Emission Sequence: </strong>The 1836 HM-3 represents the third use of Reverse E, examples struck after those of the 1836 HM-1 and 1835 HM-3 pairings but before those of the 1836 HM-7.<p><strong>Die State: </strong>The early failure of the obverse almost certainly explains the extreme rarity of the 1836 HM-3. Confirmation for this is seen in the bisecting crack from the border at star 6 to the border between stars 11 and 12. All known specimens exhibit this crack, the die obviously suffering this terminal damage very early in the press run after (very) few coins were struck.<p><strong>Estimated Surviving Population for the Variety:</strong> Just 10 coins in all grades (per Daryl J. Haynor, 2020), or only 0.4% of extant 1836 Classic Head quarter eagles.<p><strong>Strike:</strong> The obverse is soft at the center, as is the reverse at the shield and within the feathers of the eagles right shoulder and leg. As with many softly struck Classic Head quarter eagles of all dates and die pairings, the detail on this coin sharpens considerably toward the borders.<p><strong>Surfaces:</strong> Both sides are bathed in attractive warm honey-orange color with a touch of pale rose evident under a light. Ample remnants of a semi-prooflike finish are noted, as are faint hairlines, but the appearance is pleasingly smooth with no individually distracting marks.<p><strong>Commentary: </strong>This is the rarest circulation strike die marriage of the 1836 quarter eagle, and the second rarest of the issue after the Proof-only HM-2 pairing, of which just two specimens are known. When we first offered this coin in our August 2014 Chicago ANA Auction as part of the Dr. James A. Ferrendelli Collection, it was only the second example from these dies of which we were aware. The first was the specimen in John McCloskeys collection. A few additional examples have surfaced since but, although he allows for upward of 10 coins extant, as of 2020 Daryl J. Haynor has positively confirmed the existence of only six specimens. Since even the famous and extensive Harry W. Bass, Jr. Collection lacked an example from these dies, the opportunity presented by this offering is of the utmost significance to advanced Classic Head gold variety specialists. A highlight of the Virginian Collection quarter eagles that is sure to see spirited bidding. PCGS# 764696. NGC ID: 25FU. PCGS Population (HM-3 attribution only): 1 in all grades. From the Daryl J. Haynor Virginian Collection. Earlier from Heritages Long Beach Signature Sale of February 2011, lot 4324; our sale of the Dr. James A. Ferrendelli Collection, August 2014 Chicago ANA Auction, lot 11041. The plate coin for the 1836 HM-3 variety in the 2020 Haynor reference on Classic Gold coinage.
