Rarity: Very Rare

Notes:
All 1827 Capped Bust Quarter Dollars, whether an Original struck in 1827 or a Restrike made at a later date, are overdates with a 3 visible beneath the 7 of the date.  The Original 1827 Quarter Dollar has always been recognized as a classic rarity.  Despite a reported mintage of 4,000 coins, only a dozen or so are known to exist.  Most are Proofs, although the Eliasberg coin was well circulated.  Because of its rarity, Mint employees restruck the 1827 Quarter sometime prior to 1860 using an 1827 Obverse and an 1819 Reverse.  The flat based 2 of the 1819 Reverse indicates a Restrike - all of the Original 1827 Quarter Dollars have a curl based 2.  Breen lists twelve different examples of the Restrike in his "Encyclopedia", to which the Byron Reed coin (illustrated at lower right) should be added.  According to Breen, at least three of the Restrikes were struck over Quarter Dollars of an earlier date, including one with a visible undertype of 1806!  Breen considers these the earliest Restrikes, based on die state evidence he observed (later Restrikes have dies that are "more rusty").

PCGS has certified 13 1827 Restrike Quarter Dollars, the finest of which is a single PR-66.

Restrikes were also made in Copper (Judd 48, Pollock 49).

Images courtesy of Superior Galleries

Significant examples:
NGC Proof-64 (illustrated above).  Ex - Thomas Elder in May 1935, possibly from the J.R. Treadway Collection sale - the Norweb Collection - Bowers and Merena Galleries' "Norweb, Part II", March 24-25, 1988 - Superior Stamp & Coin Co., Inc.s sale of July 1993, Lot 325 - Superior Stamp & Coin's "Pre-Long Beach" Sale, September 19-20, 1999, Lot 1151, where it was described (in part) sa follows: "NGC PR-64...The Norweb Specimen.  Sold in the illustrious Norweb collection of United States coins by Bowers and Merena in 1988, this rarity was described as "a splendid specimen with lilac toning blended with electric blue and gold.  Sharply struck.  The obverse of this piece was struck from the same die as the original, but at a later time, with rust marks now visible along the lower border, particularly near the date.  The reverse is from a die never used originally in 1827, but used in 1819.  Extensive rust in the die, appearing as raised 'islands' on the coin, indicates that the die must have been stored in damp circumstances..."  We are pleased to be able to offer the finest surviving specimen of this interesting and exceedingly rare 1827 restrike issue.  Coin is in NGC holder 577063-001.  Diagnostics: star 8 rounded; a short bar-like planchet defect on the portrait at the juncture of the neck and upper torso." - Ira & Larry Goldberg Coins & Collectibles, Inc.'s "The Benson Collection" Sale - Part 1, February 16, 18-20, 2001, Lot 1622, illustrated, sold for $46,000.00

Recent appearances:
PCGS Proof-63 Restrike.  
- R.L. Miles, Jr. Collection (Stack's 9/75), Lot 182, where it realized $13,000.00
- Robert Branigan Estate Collection (Bowers & Ruddy 8/78), lot 722, where it realized $10,250.00 - Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000" Sale, August 6-7, 2000, Lot 5784, "Browning 2, 1827/3", illustrated, sold for $32,200.00   - Bowers & Merena Galleries 2003 ANA sale (the connection was made by Ron Guth through examination of this coin and the illustration from the Heritage ANA sale).

PCGS Gem Brilliant Proof 65, Copper, Red and Brown.  Ex - Stack's "65th Anniversary Sale", October 17-19, 2000, Lot 692, "Judd 48 (R-7)", plated, sold for $27,600.00  The 1827 Quarter is one of America's classic rarities.  Perhaps 9 originals exist, four of which were obtained by numismatic pioneer Joseph J. Mickley from the Mint at face value in the year of issue.  Perhaps 15 restrikes are known and have been sought by generations of collectors with equal zest.  It can be seen from these numbers that the Copper example offered here is measurably more rare than the better known Silver pieces" 

Sources and/or recommended reading:
"The PCGS Population Report, July 2003" by The Professional Coin Grading Service