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Lot
4716

1864 $2 1/2 AU58 NGC....

2011 October 13-16 US Coins Signature Auction- Pittsburgh #1160

 
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Auction Ended On: Oct 14, 2011
Item Activity: 8 Internet/mail/phone bidders
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Location: David L. Lawrence Convention Center
1000 Ft. Duquesne Blvd.
Pittsburgh, PA 15222

Description:
Near-Mint 1864 Liberty Quarter Eagle
Condition Census Example
Classic Gold Rarity
1864 $2 1/2 AU58 NGC. Production of quarter eagles was sharply reduced in 1864, due to the financial stresses of the Civil War. The quarter eagle denomination was struck exclusively at the Philadelphia Mint, with a paltry mintage of 2,824 pieces plus 50 proofs. Few business-strike examples have survived over the years, and the issue is one of the classic rarities of the U.S. gold series.
Collecting habits of 19th century numismatists caused the proof 1864 quarter eagles to be saved in greater quantities than the business strikes. Today approximately 25-30 proofs remain extant, compared to only 18-20 business-strike examples. Business-strike coins are easily distinguished from mishandled proofs because Liberty's ear is filled in on the regular-issue coins, while it remains clear on the proofs. Currently PCGS has certified only 10 examples of the 1864 in business-strike format, with a single specimen in AU58 and one finer, while NGC has graded seven total specimens, with three examples in AU58 and two finer (9/11). The finest known specimen is the incredible MS67 NGC piece from the Byron Reed Collection that sold for $132,00 in 1996.
The present coin is a Condition Census contender that shows just a few signs of circulation on the well-preserved surfaces. The design elements are sharply detailed, and the attractive greenish-gold surfaces retain much original mint luster. Some prooflike reflectivity is observed in sheltered areas near the devices. A minor tick in the obverse field near star 9 serves as a pedigree marker. This remarkable coin should find a home in one of the finest collections of Liberty quarter eagles.
From The Baltimore Collection, Part Two.(Registry values: P2) (NGC ID# 25K4, PCGS# 7800)

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