ELIASBERG PROOF QUARTER REAPPEARS

 

Coins from the celebrated collection of Louis Eliasberg, Sr. reappear on the market quite frequently, but many of his coins have been quietly squirreled away in collections since the last sale of his US coins in 1997 and have, essentially, disappeared. Sudden reappearances of Eliasberg coins purchased at or near the time of the sale are becoming increasingly rare, especially as time goes on. Such reappearances are the definition of fresh to the market. Undoubtedly, there are collectors who wish they had acquired such-and-such a coin from the Eliasberg Collection, hoping that it might reappear in the market (as so many have), only to be disappointed as the collector ages out of the numismatic game.

One such sudden reappearance was that of Eliasberg's 1898 Quarter Dollar, listed in 1997 as a raw Proof-67. Normally, Proof Barber Quarters aren't headline-makers, but this beauty realized $20,900 at a time when similarly graded examples sold for much less. A little over a year later, even an NGC PR69 1898 Barber Quarter sold for only $20,700 – presumably two points finer than Eliasberg's coin, but failing to reach Eliasberg's record. Clearly, Eliasberg's example must have been a monster to bring so much money, but how nice was it? What would it grade today? Was it toned or untoned and, if toned, how nicely? Only the collector who owned it knew.

Locating Eliasberg's coins has been a passion of mine and has led to the creation of the Eliasberg Project, where I keep track of Eliasberg's coins as they reappear on the market and record their sales prices and modern grades. Whenever a new auction is announced, my first goal is to scan the listings for Condition Census level coins, especially any with an Eliasberg provenance.

In April 2022, Stack's/Bowers will be offering coins from the collection of Dr. Paul & Rosalie Zito in a small, stand-alone session of only 88 lots. The second lot in the session (Lot 4002) stands out like a sore thumb – a Superb Proof 1898 Quarter Dollar sandwiched between an NGC MS65 Red & Brown 1909-S V.D.B. Lincoln Cent and a PCGS Specimen-65 1795 Silver Dollar. However, what really makes the coin stand out is the Eliasberg pedigree. According to the catalog description, the Zitos acquired the coin on May 13, 1997, about a month after the sale. It's unclear whether the Zitos took a late delivery of their auction purchase or if they purchased the coin from a dealer intermediary. Either way, the coin became the only Barber Quarter in their collection (as it is constituted today).

The catalog description and accompanying image answer our other questions. How nice was it? Answer – the coin is in an NGC PR69 holder today. Was it toned? Answer -- yes, the coin is rather heavily – but attractively – toned.

The next big question is What will the coin bring. Will the Eliasberg provenance continue to add value? Will it beat the price record of any non-Cameo 1898 Proof Quarter? Will it meet or beat the price record of any Cameo or Deep Cameo 1898 Proof Quarter? We'll know soon enough.

Regardless of the outcome, it's nice to see an old friend re-enter the market.

Here's the complete provenance listing for Eliasberg's Proof 1898 Barber Quarter:

John M. Clapp Collection, acquired directly from the Philadelphia Mint in 11/1898 - John H. Clapp Collection, sold intact via Stack's in 1942 - Louis E. Eliasberg, Sr. Collection - Bowers & Merena 4/1997:1564 (as Raw Proof-67), $20,900.00 - Dr. Paul & Rosalie Zito Collection, acquired on 5/13/1997 - Stack's/Bowers 4/2022:4002 (as NGC PR69 685866017)

Here's the URL address for the lot in the Stack's/Bowers auction: https://auctions.stacksbowers.com/lots/view/3-VJVUM

To read the complete article, see:
Off The Market For Nearly 25 Years: An Eliasberg Coin Reappears (https://numismaticdetectives.com/blog/f/off-the-market-for-nearly-25-years-an-eliasberg-coin-reappears)

To read an earlier E-Sylum article, see:
THE ELIASBERG PROJECT (https://www.coinbooks.org/v24/esylum_v24n26a14.html)

 

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