1796/5 Half Eagle and 1825 Quarter Eagle Lead Heritage’s March Signature Sale
Heritage Auctions will present a remarkable lineup of rarities in its March 26–28 U.S. Coins Signature® Auction. The event bridges the firm’s January FUN sale and the upcoming Central States auction.
Two extraordinary early gold coins lead the offering. A 1796/5 BD-1 Half Eagle graded MS64 by NGC and an 1825 BD-2 Quarter Eagle graded MS66 by NGC stand among the most important pieces in the sale.
“These are among the finest examples anywhere of two exceptionally important coins in the early U.S. gold series,” says Todd Imhof, Executive Vice President of Heritage Auctions. “They are spectacular coins that highlight several high-value rarities in this auction.”
A Finest-Ever Auction Appearance: 1796/5 BD-1 Half Eagle
The 1796/5 BD-1 Half Eagle, MS64 NGC, once belonged to the famous “Mr. 1796” collection. Today it ranks as the second-finest known example of the 1796-dated half eagle.
From the Famous ‘Mr. 1796’ Collection
Numismatic researcher John Dannreuther estimated the original mintage at no more than 2,000 coins.
However, survival rates remain extremely small. Experts estimate that only 80 to 100 pieces survive in all grades.
Even more impressive, the example offered by Heritage stands as the finest ever offered at auction.
It surpasses all previous auction offerings by two full grading points, placing it in elite company among early U.S. gold coins.
Rare Early Gold: 1825 BD-2 Quarter Eagle
Another centerpiece of the sale is the 1825 BD-2 Quarter Eagle graded MS66 by NGC. The coin ranks as the third-finest known example and the second-finest available to collectors.
Quarter eagles struck between 1821 and 1834 often carried very small mintages. The denomination never gained wide popularity in daily commerce. Banks preferred the larger half eagle, which required fewer coins for the same value.
Among the three die marriages known for the date, the BD-2 variety remains the most available, yet the surviving population still stands at only about 80 to 100 coins.
Shipwreck Treasure: Gold Ingots from the S.S. Central America
Several spectacular gold bars recovered from the legendary S.S. Central America shipwreck will also appear in the auction.
Kellogg & Humbert Gold Ingot – 26.30 Troy Ounces
Ex: S.S. Central America
One highlight is a 26.30-troy-ounce Kellogg & Humbert gold ingot. Its serial number ranks among the highest known for the KH-02 mold used aboard the ship.
Many Kellogg & Humbert ingots disappeared into the melting pot after arriving in the East.
Some were refined at the San Francisco Mint, while others traveled by steamboat to New York banks.
Because of this, surviving ingots recovered from the shipwreck now provide important insight into the firm’s assaying and production methods during the California Gold Rush era.
Kellogg & Humbert Gold Ingot – 26.55 Ounces
A second Kellogg & Humbert bar weighs 26.55 ounces. During the first salvage expedition of the wreck, divers recovered 343 Kellogg & Humbert ingots.
Of those, 80 pieces were produced using the KH-02 mold. Each ingot varies slightly in thickness, depending on its weight.
Historical evidence suggests these bars traveled aboard the doomed sidewheel steamship as bank deposits bound for New York. California assayers typically did not ship gold bars to the Philadelphia Mint for coinage.
Justh & Hunter Gold Ingot – 18.60 Ounces
The auction will also feature an 18.60-ounce Justh & Hunter gold ingot graded PCGS Genuine.
Justh & Hunter bars represented the second-largest group of private assayer ingots loaded onto the S.S. Central America at Panama after traveling from California.
Salvage teams later recovered 86 Justh & Hunter ingots from the wreck site off the Carolina coast. These bars range from 5.24 ounces to 866.18 ounces.
Most originated from the company’s San Francisco office, which produced 60 examples. The remaining 26 pieces came from the firm’s Marysville operation.
The example offered in Heritage’s sale falls into the 15.01- to 25-ounce weight class and represents one of only a few ingots known from this particular mold recovered from the shipwreck.
A Legendary Pattern: 1879 Flowing Hair Stella
Collectors will also find a superb 1879 Flowing Hair Stella graded PR65 Cameo by NGC.
Technically, the coin is a pattern issue, yet the stella long ago moved beyond that category. Today collectors prize the denomination across multiple specialties. Gold coin collectors, pattern enthusiasts, and rarity hunters all pursue examples of this iconic piece.
As a result, the Flowing Hair Stella remains one of the most recognizable and avidly collected odd-denomination issues in American numismatics.
The Big Sky Collection: A Registry-Level Standing Liberty Quarter
Stunning Registry-Grade Rarity
Nearly two dozen lots from The Big Sky Collection of Standing Liberty Quarters, Part I appear in the auction. The standout example is a 1919-D Standing Liberty Quarter graded MS66 Full Head by PCGS.
In the marketplace, the finest examples typically reach MS66 Full Head. Combined population reports from PCGS and NGC list only 12 coins in this grade. One carries a plus designation, and only one PCGS example ranks higher with Full Head detail.
The coin offered in the sale also carries an important auction history. Heritage last offered the piece in 2012. Overall, this auction marks only the 11th time Heritage has offered a 1919-D quarter in MS66 Full Head, and just the fourth time in the past decade.
Other Important Gold Rarities in the Auction
Several additional gold coins add depth and rarity to the sale.
A 1920-S Indian Head Ten Dollar gold piece graded MS63 by PCGS stands among the most elusive dates in the entire Indian Head eagle series in Mint State. Specialists frequently describe the issue as the rarest date in the series at grades of MS63 or finer.
Collectors will also see an 1800 Capped Bust Right Half Eagle graded MS64 by PCGS with CAC approval. The coin represents the BD-4 variety, and only one example carries a higher grade.
Dannreuther estimates the original mintage of this variety at 5,000 to 7,500 pieces. Today experts believe only 125 to 175 examples survive in all grades.
The 1796 Draped Bust Quarter: A One-Year Type
A 1796 Draped Bust Quarter graded XF45 by NGC stands among the most historically important silver coins in the auction.
Congress authorized the quarter dollar denomination in the Mint Act of 1793, yet the Mint did not strike the denomination until 1796.
This first issue features Robert Scot’s Draped Bust design paired with the Small Eagle reverse. It also displays an unusual feature: the denomination appears on both sides of the coin.
Because the design appears only in 1796, the coin serves as the sole 18th-century representative of the entire quarter dollar series. Collectors also recognize it as a one-year type coin.
The Charles Collection: Rare Gold and a Vibrant Pattern
The Charles Collection contributes 85 lots, almost all of them gold coins. One exception stands out, a vibrant copper pattern:
1865 Three Dollar Pattern (Judd-441, Pollock-516), PR63 Brown PCGS, Low R.7
Additional highlights from the collection include:
- 1915-S Panama-Pacific Fifty Dollar Round, MS62 PCGS
- 1915-S Panama-Pacific Octagonal Fifty Dollar, MS62 PCGS
- 1912 Saint-Gaudens Double Eagle Proof, PR62 PCGS, one of just 74 proofs struck
- 1898 Liberty Double Eagle Proof, PR62
The Stoebner Family Collection
The Stoebner Family Collection includes 125 lots. Collector John Stoebner began building the set in 2019 as a pre-retirement hobby.
He drew inspiration from his brother Donald Stoebner, a lifelong collector who assembled one of the finest collections of early large cents dated 1793–1814. That collection sold at Heritage’s 2019 Long Beach auction.
John Stoebner initially pursued a complete run of Carson City Morgan dollars. Soon afterward, he expanded the project to include major varieties of Morgan and Peace dollars.
By the time he retired, his 117-coin Morgan dollar collection ranked No. 11 in the PCGS Registry for Morgan Dollars with Major Varieties. Today it ranks No. 27 all-time.
Key coins from the collection include:
- 1895-S Morgan Dollar, MS63 PCGS, CAC
- 1879-CC Morgan Dollar, VAM-3, MS64 PCGS, CAC
- 1881-CC Morgan Dollar, VAM-2, MS67+ PCGS, CAC
- 1880-S Morgan Dollar, MS68 PCGS, CAC
The Lester D. Taylor Collection of Prooflike Morgan Dollars
Collector Lester D. Taylor assembled one of the most comprehensive collections of Prooflike Morgan silver dollars ever formed.
After more than four decades of research, Taylor recently published his reference book Prooflike Morgan Silver Dollars.
Highlights from his collection in the auction include:
- 1921 Morgan Dollar, Chapman Proof, PR62 NGC
- 1904-S Morgan Dollar, MS63 NGC
- 1903-S Morgan Dollar, MS62 NGC
The Zeus Collection: Branch-Mint Morgan Dollar Rarities
The Zeus Collection focuses on branch-mint silver dollars struck at New Orleans, San Francisco, and Carson City.
Important pieces from the collection include:
- 1895 Morgan Dollar, PR63 PCGS, VAM-4
- 1893-S Morgan Dollar, AU53 NGC
- 1895-S Morgan Dollar, MS64 PCGS, VAM-4, CAC
Man I wish I had some fiat to buy some of that gold!
I love seeing old shipwreck coins and treasure, it gives such an intriguing look into history.