[ REVISED APRIL 2019 ]
Browning 2 : Blundered Reverse, denomination first punched ‘50’ then corrected.
1822 Browning 2 is the only pairing of this blundered reverse with an 1822-dated obverse. According to groundbreaking research by author and researcher Steve Tompkins, the number punches employed in the re-punching of the denomination were last used in 1818, and the deterioration of the master reverse die in late 1818 had not yet occurred. Based upon these findings, Steve Tompkins argues convincingly that the blundered 25/50C reverse first used in 1822 was actually produced in early 1818, then sat in storage until it was pressed into use in 1822, then sat in storage once again until it was resurrected for one final use in 1828.
1. MS65 Eliasberg, PCGS #34980728
This has long been recognized as the Finest Known 1822 Blundered Reverse Quarter, and it has sold strongly in every auction where it appeared, beginning with Thomas Elder’s 1910 sale of the Peter Mougey Collection. The surfaces are proof-like and softly toned in light grayish gold with amber, rose, blue, and violet highlights. This is the only 1822 25/50 certified by PCGS as MS65, and is the finest example listed in the CAC Census.
Peter Mougey; Thomas Elder “Peter Mougey, Esq.”, September 1910, lot 687 @ $35 as “Brilliant Proof”; John H. Clapp (?); Louis E. Eliasberg, Sr.; Bowers and Merena, April 1997, lot 1385 @ $61,600 as “MS-64, prooflike”; Heritage Auctions, March 2006, lot 564 @ $195,500 as NGC MS66 #685822-002; Heritage Auctions, April 2009, lot 2323 @ $184,000 as NGC MS66 #685822-002; Brent Pogue; Stack’s Bowers “D. Brent Pogue, Part I”, May 2015, lot 1071 @ $188,000 as PCGS MS65 #06858027 to Joseph O’Connor (OCNUMIS).
2. MS65+ Hansen, PCGS #83774410
Heritage Auctions, June 2016, lot 4429 at $108,688 as PCGS MS65 #22006165; regraded as PCGS MS65+; Legend Auctions, May 2017, lot 197 as PCGS MS65+ #83774410; Dell Loy Hansen.
3. MS64+ Gardner – Link, PCGS #25207749
Larry Whitlow, privately May 1998; Eugene H. Gardner; Heritage Auctions ‘Gardner II’, October 2014, lot 98345 at $123,375 as NGC MS65 #232880-001; Dr. Charles Link; regraded as PCGS MS64, then PCGS MS64+ #25207749.
4. MS64 PCGS #28890474
Former NGC MS63.
Heritage Auctions, January 2007, lot 907 at $69,000 as NGC MS63.
CONDITION CENSUS, PROOF
1. PR65 Stack, PCGS #00000000
James A. Stack 3/1975: 21.
1. PR65 Garrett, PCGS #00000000
Garrett 3/1980: 636.