My 1839 $2.5 Classic Head Quarter Eagle progression

Boosibri · May 25, 2014 3:35AM

While I am not one to consistently drive after upgrades of issues already in my collection, I have found one issue where I have now owned three examples and for various reasons have sold the first two in order to upgrade.

The 1839 $2.5 is the most under valued Classic Head Quarter Eagle, the rarest Philly CH QE, and it wouldn't take too much argument to state that is this one of the most under rated quarter eagles regardless of series.

This EF40 was one of my first rare gold purchase. I developed an appreciation for the date reading Doug Winters blogs and bought the first decent coin I could find (also from him). This was in 2011 as I was first beginning dabbling in rare gold.

While my first coin was nice, a second and more eye appealing coin came available in 2012. It was CAC approved which was becoming important to me as I built my base of appreciation for rare gold. I purchased the coin below and sold my EF40 on eBay for about what I paid for it.

My second coin was attractively toned, CAC'd and in a PCGS holder. In retrospect, this was not a great purchase. While CAC'd, there was a depression near the $2 1/2 on the reverse that always bugged me. The coin also had a glossy appearance which I could never figure out but struck me every time I viewed it. Case in point for only keeping a coin if you love it the second you see it. I sold this coin at the August ANAn 2013 and have been without an 1839 until last week.

The present example came from the Bently collection and is graded AU55 CAC. I find it to be exactly the right coin for me with attractive reddish brown toning, a little bit of dirt, and a generally unmessed with look with luster peeking out from underwear the original skin.

I imagine that this will be the end of my buying and selling 1839 $2.5's. The classic head quarter eagles are an interesting and entirely completable set which I may endeavor to pursue perhaps starting off with adding an 1839-D and 1839-O to my P and this 1839-C which, while "only" an EF40, still seems to match will we the higher graded Philly.

Broadstruck · May 25, 2014 4:11AM

My personal taste actually draws me more to the overall look of your second purchase out of the three examples posted and just wish the image was non blurry to really see it.

Broadstruck · May 25, 2014 4:38AM

OK thanks for the PM that you've posted another image of example #2 as I now I no longer like it quite as much

BillJones · May 25, 2014 4:43AM

I like the second better than the others also. In view of the fact that it is not a Mint State coin, the little depression next to the "2" on the reverse does not bother me at all.

Here is another 1839 quarter eagle, the one from the Dahlonega mint. I wish I could find and afford a better one, but these coins come in price tiers. This is the best one I have seen that cost less than $10k. One in MS-62 sold at auction for $36k a couple of years that I really "loved", but I thought that $36k was all the money and then some at the time. This one is in an AU-50 holder.

steveben · May 25, 2014 4:53AM

I like the bently example best. I think it has the most original look. They are all nice coins.

Broadstruck · May 25, 2014 5:02AM

I'd appreciate if you could also re post the first image of coin #2 as it showed it wasn't so in your face and lack luster as the new image. As far as gold is concerned I am not a fan of dirt and at AU55 would want sufficient as struck remaining mint luster. Again it could just be your photo but coin # 3 looks very dried out in this image especially on all the high points and profile of Miss Liberty and I find the staple scratch skipping from the neck to the third star on the left quite visually bothersome.

ahopewell55 · May 25, 2014 5:03AM

I like the Bently the best out of the three. I also like the EF-40 very much due to its eye appeal, originality, and color. I used to think EF-45 would be a cut-off for me, but I've seen enough very attractive 40s to change my opinion.
I also think that the 1839-C, EF-40 is very close to being a 45.

Boosibri · May 25, 2014 5:11AM

<< I'd appreciate if you could also re post the first image of coin #2 as it showed it wasn't so in your face and lack luster as the new image. As far as gold is concerned I am not a fan of dirt and at AU55 would want sufficient as struck remaining mint luster. Again it could just be your photo but coin # 3 looks very dried out in this image especially on all the high points of Miss Liberty and I find the staple scratch skipping from the neck to the third star on the left quite visually bothersome. >>

As for the Bently coin. I just cropped the HA slab images. I'll post some others later.

Broadstruck · May 25, 2014 5:15AM

<< As for the Bently coin. I just cropped the HA slab images. I'll post some others later. >>

Thanks as the HA images are just pacifiers you instantly delete once you have the coin in hand as they don't do any justice.

Nysoto · May 25, 2014 12:14PM

I like all of the 1839's, the Bently has a slight edge. The 1839 Philly QE is an underrated date of a series that is not widely collected. If a book is ever published on the series I could see this date going up in price. I once had the 1839 in NGC AU50, but no longer collect the CHQE's, which are actually more challenging than the CH $5's.

lordmarcovan · May 25, 2014 12:22PM

Man, I love Classic Head gold. Especially the mintmarked ones. I don't know why, but there is something magical about the obverse mintmarks on these and the RE Bust halves.

claychaser · May 25, 2014 12:27PM

Here's my '39 QE:

$2 1/2 1839 PCGS AU53CAC

bidask · May 25, 2014 12:34PM

I will try to post a pic of my 39 c in p45 cac.

Ronyahski · June 20, 2014 12:49PM

Couldn't agree more that the 1839 QE is one of the most underrated early gold dates of all. Here is mine, PCGS 61 and second finest known to the Bass PCGS62 (anybody know where that coin resides?)

Edited to Add: My mistake, this is third finest. For second finest see below.

USMarine6 · June 20, 2014 7:58PM

I must say you have posted some very nice early gold lately. You have such a great eye for them and I always look forward to your newp's more than my own.

Boosibri · June 20, 2014 9:27PM

<< I must say you have posted some very nice early gold lately. You have such a great eye for them and I always look forward to your newp's more than my own. >>

Wow, thanks for the compliment!

PQueue · June 20, 2014 11:33PM

I agree with the comments, the '39 is under rated. I could never find one that I liked. Thanks to all for posting! the pieces from claychaser and Ronyahski are superb.

lostincoins · June 20, 2014 11:45PM

Boosibri your posts and RYKs on gold always bring a smile to my face and I am learning a lot from you guys thank you.

golden · June 21, 2014 3:46AM

I had a very nice raw 1839 a few years back. It would probably grade at least a 55 today. It is a very tough coin in high grade.

Ronyahski · June 22, 2014 5:21AM

In my first post, sorry, I sent the wrong pics. The coin in that first post is third finest known. Here is a picture of the second finest known, also a PCGS 61.

bidask · June 22, 2014 5:36AM

<< I will try to post a pic of my 39 c in p45 cac.

>>

1839 C PCGS 45 CAC

Boosibri · June 22, 2014 6:53AM

<< 

<< I will try to post a pic of my 39 c in p45 cac.

>>

1839 C PCGS 45 CAC >>

Very nice!

My 1839 $2.5 Classic Head Quarter Eagle progression

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