'Untoned and richly lustrous' 1807 Draped Bust quarter sells for $141,000: Market Analysis

Early quarters sold at the recent Pogue Collection auction are the focus of this week's Market Analysis
By , Coin World
Published : 06/11/15
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The first of seven planned auctions from the D. Brent Pogue Collection was noteworthy for many factors. More than a third of the 128 lots consisted of the Texas collector’s 43 Draped Bust and Capped Bust quarter dollars from 1796 to 1838. The first Pogue auction totaled $25.3 million, and of the quarters, Stack’s Bowers Galleries observed, “Each coin is among the most exquisite of its kind and provenances include many of the greatest collectors and collections from the past.”

Here is one of three that Coin World is profiling in this week's Market Analysis:

The Coin 

1807 Draped Bust quarter dollar, MS-65+

The Price

$141,000

The Story 

Although the vast majority of the coins in the Pogue Collection were toned in rich colors, a few were untoned and richly lustrous, such as this 1807 Draped Bust quarter dollar graded MS-65+ by Professional Coin Grading Service  that sold for $141,000 against an estimate of $120,000 to $175,000.

The Pogue sale represented the first time that this coin — which the catalog notes looks today “much as it must have when it first crossed the front doorstep of the Mint onto Seventh Street” — has appeared at auction. It was discovered in London about 25 years ago and was acquired by Pogue in 2004 as part of his purchase of the Foxfire Collection.

Two varieties of the 1807 Draped Bust quarter dollar are known, and neither is rare, making this issue a typical choice for type collectors. PCGS has graded just one finer in MS-67 and that example last traded at auction in 1997 at Bowers and Merena’s auction of the Louis E. Eliasberg Sr. Collection where it sold for $165,000.

Keep reading this Market Analysis: 

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Finest known Proof 1834 Capped Bust quarter a Pogue auction highlight

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