1834 Classic Head Quarter Eagle. HM-1. Rarity-2. Small Head. MS-65 (PCGS). CAC.
Die Variety: HM-1. Obverse 1: Small Head with the hair curls along the back of Liberty's head forming an almost straight vertical line. Reverse A: The first digit 2 in the denomination is entirely left of the arrow feather and the following letter D is 30% under the branch stem. This variety represents the only use of the obverse die, although the reverse also appears in the 1837 HM-1 pairing. Die Emission Sequence: Inasmuch as it is the most plentiful variety of the issue, with most examples fully struck and otherwise exceptionally well produced, the HM-1 is almost certainly the first die pairing used to strike 1834 Classic Head quarter eagles. All coins struck from these dies were delivered in 1834 and included in the mintage figure reported for that calendar year. Die State: A middle die state example, there is a reverse crack from the tip of the eagle's left wing to the border and evidence of die erosion at the denticles along the upper reverse border. The area between the right upright and diagonal of the letter N in UNITED is partially filled by chipping of the die. Estimated Surviving Population for the Variety: 840 coins in all grades (per Daryl J. Haynor, 2020), or 54% of extant 1834 Classic Head quarter eagles. Strike: Both sides exhibit an exceptionally sharp strike for the issue. Most features are fully defined, in fact, with just a touch of softness to the hair curls above and before Liberty's ear on the obverse and along the left border of the shield on the reverse. A gentle bulge in the middle of Liberty's cheek behind the mouth is as made and diagnostic of coins struck from this obverse die. Surfaces: Vivid orange-gold surfaces are prooflike, uncommonly so for an issue that is usually seen with satin or frosty luster. Considerable reflectivity is evident in the fields, where it mingles with light mint frost. The design elements are more satiny. Predominantly smooth surfaces live up to Gem Mint State grade awarded by PCGS. A minuscule mark in the lower left obverse field will act as an identifier to trace this coin through future market appearances. Commentary: HM-1 was saved to a greater extent than the other three varieties of this issue and is extremely popular for gold type purposes. With such exceptional quality and eye appeal, the offered coin was obviously set aside soon after striking as an example of the newly introduced quarter eagle design. Although a fair number of 1834 Classic Head quarter eagles were saved for this reason, very few were preserved with the utmost care throughout the ensuing decades. Among the finest certified by PCGS, this MS-65 is ranked #2 in the list of finest known examples for the issue in Daryl J. Haynor's 2020 reference on Classic gold coinage. The author's grade for the coin is "MS65+/A." It is a fitting introduction to the Classic Head gold coinage in the extraordinary Virginian Collection, and a phenomenal condition rarity that will be perfect for another world class numismatic cabinet.
PCGS# 764686. NGC ID: 25FS.
PCGS Population (all die varieties of the issue): 4; 3 finer (MS-66 finest).
From the Daryl J. Haynor Virginian Collection. Earlier from Heritage's sale of the Gold Rush Collection, January 2005 FUN Signature Sale, lot 30029; Heritage's sale of the Madison Collection, January 2008 FUN Signature Sale, lot 3077. The plate coin for the 1834 HM-1 variety in Daryl J. Haynor's 2020 reference United States Classic Gold Coins of 1834-1839.