1834 Classic Head Quarter Eagle. HM-3. Rarity-4+. Large Head, Close AM. AU-55 (PCGS). CAC.
Die Variety: HM-3. Obverse 2: Large Head with a prominent indentation within the curls along the back of Liberty's head. Bold repunching to star 2 also readily identifies this die. Reverse C: The letters AM in AMERICA are closely spaced and the M is perfect. Obverse 2 also appears in the HM-2 attribution of this issue, but this is the only use of Reverse C in the Classic Head quarter eagle series. Die Emission Sequence: All 1834 HM-3 quarter eagles were struck during calendar year 1834, in between their identically dated counterparts from the HM-1 and HM-2 pairings. Die State: If Reverse C suffered some kind of terminal failure, it has been lost to history since no advanced die states have been confirmed among surviving examples. We suspect that the characteristic softness of strike of this variety is attributable to the reverse die, leading Mint personnel to replace it with the reverse of HM-2 after relatively few examples of HM-3 were produced. Estimated Surviving Population for the Variety: 100 coins in all grades (per Daryl J. Haynor, 2020), or 6.5% of extant 1834 Classic Head quarter eagles. Strike: This is not a well struck variety and, indeed, the present example shows marked softness in the centers on both sides. For the obverse, the hair curls above and below Liberty's ear are softly struck, as is the shield and surrounding wing and leg feathers on the reverse. Actual wear is light, however, which is commensurate with the assigned grade. Surfaces: A vivid example with blushes of reddish-rose iridescence to a base of warm honey-gold color. Plenty of frosty mint luster remains, and the surfaces are faintly semi-prooflike around the devices. There are no more than the expected number of wispy handling marks for an 1830s gold coin that spent a brief period of time in active circulation. Tiny obverse marks at the junction of Liberty's neck and bust and in the field before the chin are useful for provenance purposes. Commentary: An exciting offering for specialists, this is the only 1834 quarter eagle attributed as HM-3 by PCGS. It is a significant survivor from the scarcest die pairing of the issue. Daryl J. Haynor draws particular attention to the rarity of this attribution in Mint State, as well as its elusiveness in the various AU grades. HM-3 obviously benefited less from the first year status of this issue than HM-1 or HM-2, as few were set aside at the time of striking or otherwise preserved, and most specimens succumbed to commercial use. In Choice AU-55 the Virginian Collection specimen is among the finest 1834 HM-3 quarter eagles available to early gold variety enthusiasts.
PCGS# 764689. NGC ID: 25FS.
PCGS Population (HM-3 attribution only): 1 in all grades.
From the Daryl J. Haynor Virginian Collection. The plate coin for the 1834 HM-3 variety in the 2020 Haynor reference on Classic Gold coinage.