1831 $2 1/2, R.7, PCGS PR64 Cameo

Bass-Dannreuther Die State a/a. The Philadelphia Mint struck an unknown, but certainly very small production of proof quarter eagles for collectors in 1831, to accompany a small business-strike mintage of 4,520 pieces. The same die pair was used to strike both proofs and business-strikes in 1831, making it difficult for early catalogers to distinguish between the formats. In fact, the hardy reverse die was used to strike all quarter eagles from 1830 to 1834 in both formats. Fortunately, the clear stripes in the shield are fully mirrored on proofs, making it possible to distinguish between proofs and prooflike business strikes. In his series reference, United States Proof Coins, Volume IV: Gold, John Dannreuther estimates the surviving proof population at just 6 to 8 pieces in all grades, but lists nine examples of possible proofs in his list of Significant Examples. PCGS and NGC have certified eight coins between them, including an unknown number of resubmissions and crossovers.

The present coin is a spectacular Choice proof from the renowned John Jay Pittman Collection. The design elements are sharply detailed in most areas, with just the slightest softness at the juncture of the shield with the left (facing) wing and the first set of vertical stripes in the shield. This softness is seen on all examples we have examined. Fine detail is evident in Liberty's curls and the sharply rendered stars have full radials. The obverse dentils are lightly doubled and the U in UNITED has been reengraved on the reverse, since it was initially placed too far to the left. The deeply reflective fields contrast boldly with the frosty devices to produce a dramatic cameo effect. The well-preserved yellow-gold surfaces show only minor signs of contact and overall eye appeal is outstanding. We expect intense competition from series specialists and Registry Set enthusiasts alike when this lot is called. This coin is the plate coin for United States Proof Coins, Volume IV: Goldand is pictured on PCGS CoinFacts. Population: 1 in 64 Cameo, 1 finer (11/24).