Coin Specifications

Category: Early $2.50 (1796-1834)
Mint: Philadelphia
Mintage: 4,520
Catalog: KM-49
Obverse Designer: John Reich
Reverse Designer: John Reich
Composition: Gold
Fineness: 0.9160
Weight: 4.3700g
AGW: 0.1287oz
Melt Value: $165.77 (8/30/2014)
Diameter: 18.2mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
Link to this coin

1831 $2.5 MS obverse 1831 $2.5 MS reverse


  
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VarietyPlus®

There are no varieties for this coin.

Description & Analysis

Bass-Dannreuther and other modern scholarship note that there is only one die pairing for this date (although there is a rare die state with obvious clashing on both sides), which boasts an unsurprisingly small recorded mintage of 4,520 pieces. Such a mintage places this issue squarely in the ranks of a 'neither high nor low' emission for this generally oft-neglected series. Bass-Dannreuther assign a middling R.4 rarity rating as well, estimating that 110-125 pieces are known.

For much of their early history and well into the mid-19th century, gold quarter eagles were the Rodney Dangerfield of coins, 'getting no respect' from mint personnel who were much more intent on producing the three workhorse coins of the early Mint era: copper large cents, silver half dollars, and gold half eagles. Walter Breen, speaking of the early days of the quarter eagle series in his Complete Encyclopedia, writes that 'during this whole decade [1796-1807], quarter eagles were coined only in isolated driblets of a few hundred or at most a few thousand pieces. In most of these years, each date represented a new design modification--creating instant rarities and type coins. The problem is less why the coins are rare, why so few were made to begin with, but why any were struck at all! To judge from available Archives records, they were ordered on whim by a few local banks (principally the Bank of Pennsylvania and the Bank of the United States), to judge from the condition of survivors, they spent most of their time in vaults. Between 1803 and 1833, the Mint's major output consisted of cents, half dollars, and half eagles, all other denominations had a kind of poor-relative status--seldom called for, few made, little welcome.'

The reverse die of the 1831 quarter eagle began as a new die for the 1830 issue, also known through a single die pairing, and that reverse continued in use through the single-marriage 1832, 1833, and 1834 With Motto issues. There are 149 dentils on the reverse, as compared with 147 on the obverse. The U in UNITED is recut, the large 2 in the denomination has a curved base, and there is recutting on the right lower upright of the I in AMERICA.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 8/13/2013

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1831 $2.5 MS
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Census

 
NGC GRADE SUMMARY

Total Graded: 58
Low Grade: 40
Average Grade: 61
High Grade: 66


Upcoming Auctions

A random selection of NGC coins is shown below.

Images
Date
Grade
Auction House
Sale / Lot
9/6/2014 MS 63   Heritage Auctions 2014 September 4 - 6 Long Beach Expo US Coins Signature Auction - Long Beach Session(1), 1209/Lot# 3345


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
2/5/1994 PCGS XF 40   Heritage Auctions February 1994 Long Beach Sale #112, 112/Lot# 5079 $3,300.00
2/24/2003 PCGS AU 55   Goldberg February 24-25, 2003 Coin Auction, 17/Lot# 1904 $8,337.50
2/11/2007 NGC AU 58   Goldberg February 11-14, 2007 Pre-Long Beach Coin and Currency Auction, 39/Lot# 2115 $13,800.00
8/11/2011 NGC AU 53   Heritage Auctions 2011 August Chicago Signature US Coin & Platinum Night Auction Session(5), 1158/Lot# 7448 $10,350.00
9/18/2012 NGC XF 45   Prooflike Teletrade Auction 3349, 3349/Lot# 1204 $304.00
2/22/2013 NGC AU 58   Stack's Bowers The March 2013 Baltimore Auction, 181/Lot# 2138 $18,800.00
8/6/2014 NGC AU 58   Stack's Bowers August 2014 Chicago ANA, 6014/Lot# 11026 $15,275.00


NGC Registry

NGC Registry Score 1831 $2.5 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base264428643098334536393952434746944912504952435367546657476248719885601003311951144781785022410
27172942318034433743408344624766495751135284540055595914656476529051106721279315602193700
0000004462476649575113528454005559591465647652905110672127931560200
0000004578483950035178532554335653608168818106954211311136351672600
1831 $2.5 MS Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base277229993241349638004123453148885113525454545582568459736488746588631037412339149241837123026
28473079332635973907425946504963516053205496561657806144681379319366110291320016073199220
0000004650496351605320549656165780614468137931936611029132001607300
0000004769503852075387553956505876631671398397987011684140621722200
Registry Image Gallery

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