||1834 $2 1/2 Capped Bust -- Repaired -- NGC. AU Details. BD-1, R.6. Among the scarcest of early gold type, the 1834 Motto quarter eagle is an extreme rarity in any condition, although most surviving examples are in higher grades. There is no official record of any coins leaving the Mint for distribution. Nearly the entire 4,000-piece issue was melted in preparation for the lighter-weight Classic Head type with a mintage of 112,234 pieces the same year. Walter Breen believed all examples of the Capped Bust design were proofs, although this argument is discounted in the Bass-Dannreuther reference and by other researchers. The current coin shows areas of smoothing and repair beneath the eagle's left wing and elsewhere, with hairlines from a subsequent cleaning. Most of the prooflike surface is dulled, although the coin retains a reasonably pleasing green-gold patina. A thin circle of prooflikeness remains at the obverse margin among the stars. Ex: Eric P. Newman Numismatic Education Society.
Realized $19975.00. Description courtesy of Heritage Auctions.