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This quarter-eagle is from the first series of this denomination minted (1796 to 1807). All 1806 coins are over-dates being either 1806/4 or 1806/5. It is the rarest of the dates in the 1800's with only about 1,620 coins originally minted (including both the 6/4 and 6/5 varieties). It is estimated that there are very few of the 1806 date still in existence today in all grades. Of these, MS 64 is the highest graded by PCGS or NGC.

This entire series of capped bust quarter-eagles with stars is extremely rare in high grade with only a total of 13 coins graded MS 64 or higher by both PCGS and NGC. This includes all dates in this series combined! If you take out the "common" 1802 (accounting for 5 of the 13 high-grade specimens), there are only 8 of this quality total in all of the other dates combined. These coins have rarely been offered on the market. Of these 8 coins (which include this specimen), the 1796 in MS 65 sold for $1,006,250 in January 2008.  This coin brought a 26% premium over the Greysheet price of $800,000 at the time.  Worth noting is that, in mint-state condition overall, the 1796 is not vastly rarer than the 1806/4. Another of these 8 coins, the 1797 (in the same MS64 grade as this 1806/4), sold for $276,000 back in 2005 and has a bid price of $350,000 today.  Also worth noting:  A 1796 no stars, in mint-state 65 sold in January 2008 for $1,725,000 – a premium of 57% over the Greysheet price of $1,100,000. Plus, interestingly, in less lofty grades the 1796 no stars is reasonably comparable in rarity to the 1806/4.  The key point here is that these early $2 ½’s are fantastically rare and extraordinarily desirable.  This particular specimen is clearly one of the more underrated in the entire series, and as the lone finest known of the date should belong in either a museum or a top connoisseur’s portfolio.

This particular 1806/4 specimen was likely one of the first struck in the year as it exhibits original, proof-like surfaces which enhance its appearance. This is a unique opportunity to own a rare example of America's earliest gold coinage.