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1853 25C Arrows and Rays MS67 NGC....
Lot: 357,
Auction: 2008 February Long Beach, CA Signature Coin Auction #460
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| Sold for: |
$80,500.00
(includes BP
 )
Bid Source: Internet |
| Ended: | Feb 13, 2008 |
| Item Activity: |
9 Internet/mail bidders
1,229 page views |
Description:
Lustrous MS67 1853 Arrows and Rays Quarter
1853 25C Arrows and Rays MS67 NGC. For several years leading up to 1853, few U.S. silver coins remained in circulation, because they were worth more melted than in their coined form. The root cause for this was the immense discoveries of gold in California that lowered the market price of gold in terms of silver. As described by Walter Breen in his Complete Encyclopedia of U.S. and Colonial Coins, this "...eventually (led) to a point where bullion dealers found they could make 'endless chain' profits by melting down silver coins bought for face value and reselling the silver. All of the mints' output of silver vanished into hoarders' hands, and most of it went to bullion dealers; less and less silver reached the Mint for coinage, reflected in the diminishing mintages of 1850-52."The Act of February 21, 1853, reduced the weight of silver coins to a figure that would eliminate bullion dealers' profits and thus discourage further melting. The Act authorized the coinage of quarters at 96 grains compared with the former 103 1/8 grains. Mint Director George Eckert realized that the new coins had to have an identifying mark to distinguish them from earlier ones. For the quarter (and half dollar as well), he placed arrows at each side of the date, with rays behind the eagle. (The dimes and half dimes included only the arrows.) This design format (for the quarters and half dollars) lasted only one year, with a reminder of the reduced weight carried on through 1855 with arrowheads only. More than 15 million quarters were struck of the Arrows and Rays design and they were a smashing success. One Philadelphia paper reported that the Mint had "fully overcome the complaint among the small dealers of a want of change." The new coins served their purpose excellently. For the first time since the establishment of the Mint in 1793, the nation had an adequate supply of fractional coins of uniform quality.
This particular piece is one of the finest examples extant of this one-year type; NGC and PCGS have certified a mere five specimens, and none higher. All too often found with heavily toned surfaces, this is a brilliant coin with silky-smooth, satin-like mint luster. Impressively struck throughout, each side is nearly abrasion-free; small marks on Liberty's cheek and on the right (left facing) shoulder serve as pedigree markers. Die polish lines are evident on both sides, especially on the obverse. Census: 3 in 67, 0 finer (1/08).
From The Southwest Collection.(Registry values: P5) (#5426)
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Shipping Description: Coins & Currency (view shipping information)
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Guides and Pricing Information:
Previous Prices from Heritage Auctions
| Lot | Date | Grade | Service | Realized |
|---|---|---|---|---|
| Auction 1136, Lot 2511 | Sunday, January 10, 2010 | 67 | NGC | $46,000.00 |
| Auction 1125, Lot 619 | Sunday, May 31, 2009 | 67 | NGC | $48,875.00 |
| Auction 394, Lot 3155 | Saturday, January 7, 2006 | 67 | NGC | $48,875.00 |
| Auction 352, Lot 5935 | Saturday, August 21, 2004 | 67 | NGC | $48,300.00 |
| View prices realized from this item in other grades (you must be signed in) | ||||
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PLEASE NOTE:
All prices realized reflect the final hammer price PLUS the buyer's premium
in auctions that charge a buyer's premium.
Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium.
All information listed is intended to be as accurate as possible, but errors are possible.
Please use this guide carefully and inform us of any inaccuracies.
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BP - Buyer's Premium
A "Buyer's Premium" is charged in addition to the successful bid according to the rate defined in our terms and conditions.Price Guide*
| Grade | Coin World (Coin Values) |
Numismedia Retail |
Numismedia Wholesale |
Numismedia NGC (nmn) |
Numismedia PCGS (nmp) |
PCGS Price Guide |
||
|---|---|---|---|---|---|---|---|---|
| 66 | $35,000 | $40,950 | $31,500 | $27,500 | $28,750 | $42,500 | ||
| 67 | --- | $71,880 | $57,500 | $50,500 | $52,500 | $85,000 | ||
| 68 | --- | --- | --- | --- | --- | --- | ||
| *All information listed is intended to be as accurate as possible, but errors are possible. No item may be returned or refused based on this information which is provided as a service to our customers. You should contact each pricing source directly to determine the accuracy of this information. | ||||||||
Population Guide
| Service | Grade | Population in this Grade | Population of Higher Grade | Population in All Grades | Mintage | Engraver |
|---|---|---|---|---|---|---|
| PCGS | 67 | 2* | 0* | 952 | 15,210,020 | Christian Gobrecht |
| NGC | 67 | 3 | 0 | 801 | ||
| *This information is provided and owned by PCGS. Its display and use are subject to the licensed agreement between PCGS and Heritage Auction Galleries. | ||||||
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