Heritage World Coin Auctions
ANA Signature US Coin Sale 1258 2-6 Aug 2017
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Liberty Quarter Eagles
1864 $2 1/2 AU58 PCGS. CAC. The political and financial stresses of the Civil War resulted in widespread hoarding and melting of all precious-metal coinage and the government suspension of specie payments late in 1861. Naturally, in this environment, mintages of quarter eagles (and all gold coins) declined drastically after 1861 and continued to fall throughout the following years. Only 2,824 Liberty quarter eagles were struck at the Philadelphia Mint in 1864 and none were produced at San Francisco, the only active branch mint at the time. The survival rate for the issue is extremely low. Unlike the higher gold denominations, quarter eagles enjoyed a certain popularity with well-heeled collectors in the 19th century, but those connoisseurs preferred to update their collections by purchasing gold proofs every year. It is likely that only one business-strike 1864 quarter eagle was saved by a contemporary collector, the magnificent MS67 NGC specimen in the Byron Reed Collection, which realized a staggering $132,000 when it sold in 1996. Proofs are seen much more often than business strikes in today's market, and PCGS CoinFacts estimates no more than 18-22 regular-issue specimens survive in all grades and conditions. PCGS and NGC have combined to certify a total of 21 coins, including an unknown number of resubmissions and crossovers. Most examples seen are in the XF-AU grade range and only three coins have been certified in Mint State (6/17).
The present coin is a Condition Census near-Mint specimen that shows just a touch of wear on the high points of the well-detailed design elements. Liberty's ear is filled in, making it easy to identify this coin as a business strike, rather than a mishandled proof. The lightly abraded orange-gold surfaces retain traces of original mint luster, with a few hints of turquoise and amber at the peripheries. A thin scratch in the right obverse field can serve as a pedigree marker. The coin offered here is the plate coin on PCGS CoinFacts. This high-grade example of one of the most challenging dates in the quarter eagle series should find a home in a fine collection or Registry Set. Population: 4 in 58, 1 finer. CAC: 3 in 58, 0 finer (6/17).
HID02901242017
1864 $2 1/2 AU58 PCGS. CAC. The political and financial stresses of the Civil War resulted in widespread hoarding and melting of all precious-metal coinage and the government suspension of specie payments late in 1861. Naturally, in this environment, mintages of quarter eagles (and all gold coins) declined drastically after 1861 and continued to fall throughout the following years. Only 2,824 Liberty quarter eagles were struck at the Philadelphia Mint in 1864 and none were produced at San Francisco, the only active branch mint at the time. The survival rate for the issue is extremely low. Unlike the higher gold denominations, quarter eagles enjoyed a certain popularity with well-heeled collectors in the 19th century, but those connoisseurs preferred to update their collections by purchasing gold proofs every year. It is likely that only one business-strike 1864 quarter eagle was saved by a contemporary collector, the magnificent MS67 NGC specimen in the Byron Reed Collection, which realized a staggering $132,000 when it sold in 1996. Proofs are seen much more often than business strikes in today's market, and PCGS CoinFacts estimates no more than 18-22 regular-issue specimens survive in all grades and conditions. PCGS and NGC have combined to certify a total of 21 coins, including an unknown number of resubmissions and crossovers. Most examples seen are in the XF-AU grade range and only three coins have been certified in Mint State (6/17).
The present coin is a Condition Census near-Mint specimen that shows just a touch of wear on the high points of the well-detailed design elements. Liberty's ear is filled in, making it easy to identify this coin as a business strike, rather than a mishandled proof. The lightly abraded orange-gold surfaces retain traces of original mint luster, with a few hints of turquoise and amber at the peripheries. A thin scratch in the right obverse field can serve as a pedigree marker. The coin offered here is the plate coin on PCGS CoinFacts. This high-grade example of one of the most challenging dates in the quarter eagle series should find a home in a fine collection or Registry Set. Population: 4 in 58, 1 finer. CAC: 3 in 58, 0 finer (6/17).
HID02901242017