Early Quarter Eagle Gold Coins Impress

ANALYZING A PARTICULARLY IMPORTANT OFFERING

- BY GREG REYNOLDS

An amazing, intense market for rare-date U.S. gold coins began in January 2021. So prices for most rare U.S. gold coins have been much higher than they were before the pandemic. While the possible peak of a bull market was reached sometime in 2022, some rare gold coins peaked later and market trends for most rare U.S. gold coins in November 2024 were not far from their respective peak levels in 2022 or 2023.

The Stack’s Bowers “Rarities Night” session on Nov. 19, 2024 featured an impressive assortment of rare U.S. and pioneer gold coins. As it is not sensible to cover a large number of the coins in this auction, this review is limited to early (pre-1840) quarter eagles (U.S. $2.5 gold coins). This was a particularly interesting and important offering.

There were many rare gold coins in this “Rarities Night” session, which was conducted at the Stack’s Bowers Galleries (SBG) headquarters in Costa Mesa, California, beginning at 2 p.m. Pacific Time (5 p.m. Eastern Time) on Nov. 19, 2024. It was part of a larger “Showcase Auction” by SBG, which included 10 sessions, all of which were handled in California.

This SBG “Showcase Auction” was the official auction of the autumn Whitman Coin & Collectible Expo in Baltimore, even though no auction sessions were conducted in Baltimore. All the lots were brought to the Baltimore Convention Center for viewing from Nov. 12 to 15. I viewed many of the rarities in this auction.

The “Rarities Night” session featured rare gold coins from three major collector consignments, those of Darrel Neidigh, Robert D. Reed and Bernard Richards. While some coins of gem quality were included, this session was dominated by gold coins that are physically rare rather than gems or condition rarities. A coin is physically rare if just a small number exist, regardless of quality.