This 1831 $2 1/2 Capped Bust was certified Proof 64 Cameo by NGC. It is designated as BD-1 Rarity 7 as a proof.
It is pedigreed to Numismatic Gallery's "Memorable" sale of 1948, where it was purchased by one of the most astute buyers of the middle 20th century, famed collector John Jay Pittman. This piece is also listed (from the Memorable sale) in Breen's Proof Encyclopedia. This coin remained with Pittman for 50 years and has been sold several times since.