Conditionally Rare 1951-D Washington Quarter to be Sold at Regency Auction X

December 13, 2014

By CoinWeek IQ Analysis …..
Legend Rare Coin Auctions’ Regency X Auction offers coin connoisseurs considerable coverage in the area of high-end classic U.S. coins.

This modern coin caught the attention of CoinWeek’s editors:

washington1951dlegend

Lot 170: 1951-D Washington 25C PCGS MS-67+

While many dealers and collectors may scoff at the idea of paying thousands or tens of thousands of dollars for a modern coin based solely on the grade stamped on a holder, there is a small but dedicated group of collectors who see in every series an opportunity to assemble the best set. Typically, as is the case with Washington quarters, this comes at a steep cost.

One of a handful of noteworthy modern coins being offered at Legend Rare Coin Auction’s Regency X sale is a CAC-approved, PCGS MS67+ 1951-D Washington quarter.

In terms of quality, 1951-D quarters are middle-of-the-road compared to other post-1935 silver Washington quarter issues but are by no means scarce in Mint State 66 or 67.

This piece is a cut above most 67s we’ve seen and has earned a 67+ from PCGS. The coin has an interesting auction history, despite the fact that it was probably first graded at the end of 2012.

In January 2013, the coin brought $12,337.50 at the US Coin FUN Signature Auction, conducted by Heritage. At the time it was a “Pop 1” coin, with none graded higher. The winner of the coin did not place it in a competitive registry set but instead consigned the coin at the ANA National Money Show US Coins Signature Auction, again by Heritage, where it brought $6,462.50. By this time an MS68 had been made, thereby dethroning the MS67+ from its top pop perch.

We haven’t seen the sole MS68 in hand and can’t report about its quality. We do know that it’s not CAC-certified and isn’t currently in a top-tier registry set.

So where does that leave the current piece, which Legend estimates to be worth $6,000? Time will tell. Current bid sits at $5,250. Perhaps the winner of this lot will finally place it into a worthy collection. A PQ toner “conditional rarity” deserves as much.