1862 $2 1/2
Exceedingly Rare 1862 Gem Proof Quarter Eagle1862 PR 65 Cameo NGC. The 1862 quarter eagle is one of the foremost rarities in the entire Coronet quarter eagle series as only 35 proofs were coined. Of that number it has been variously estimated that survivors number between a low of 11-13 pieces (Taglione) to as many as 18 (Breen). Whomever one chooses to believe, very few examples of this date exist in any condition. This proof issue has been somewhat ignored, due in part to the rarity of the 1863 that follows it chronologically and the very underappreciated status of the associated business strike.
The surfaces of this piece exhibit a slight haziness from having been stored for many years. For distinguishing marks, there are a couple of tiny luster breaks in the field to the left of Liberty's chin and the second star. Also, there is a pinscratch between star 10 and 11, but these impairments are hardly noticeable and are mentioned for pedigree purposes. According to the most recent population data available as this is cataloged (10/97), the combined staffs of both PCGS and NGC have only certified 11 other pieces in all grades, and some of these are most probably resubmissions. This is the single finest piece graded by NGC, PCGS has also seen one PR 65. (NGC ID# 287G, PCGS# 7888)
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