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Description

Rare and Important 1854 Arrows Quarter
PR66, Tied With One Other as Finest
Ex: Parmelee-Woodin

1854 25C Arrows PR66 NGC. For its appearance in the second Pittman auction, David Akers wrote, "In 1854, the Mint increased its production of proof sets and, although they were not yet available to the general public (the practice of selling to the public-at-large did not begin until 1858), they were available to individuals who contacted the Mint directly with a special request to purchase a proof set. The exact mintage of 1854 proof sets is unknown, but perhaps as many as 30-40 silver and copper proof sets were minted and distributed. Although others have stated a contrary opinion, I feel it is most likely that the proof 1854 quarters were struck only for inclusion in those sets and that all survivors today come from the original 30-40 pieces minted. All denominations of 1854, except perhaps the silver dollar, are rarer in proof than generally realized, and it is my opinion that no more than 12-15 proofs of this denomination still exist. This specimen is certainly among the finest and it is also the one with perhaps the most famous pedigree."
This is a fully struck Premium Gem with pearl-gray centers and light peripheral sun-gold toning. There are no obvious hairlines, and a line on the lower right obverse field, parallel with the lower left inner point of star 12, appears to be of mint origin. This line can be used to confirm the Parmelee-Woodin-Pittman pedigree in any future market appearances.
Tied with one other PR66 NGC for the honor as the finest certified (11/08). The other PR66 is the Eliasberg-Kaufman specimen, which sold in Heritage's 2007 Milwaukee ANA Signature for $138,000.
Ex: Lorin G. Parmelee Collection, (New York Coin & Stamp, 6/1890), lot 1248; William H. Woodin Collection, 1911, lot 454; Wayte Raymond, 2/1947, lot 407; John Jay Pittman Collection, Part Two, 5/1998, lot 1328.
(Registry values: P4) (NGC ID# 23WV, PCGS# 5550)

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Auction Info

Auction Dates
January, 2009
7th-11th
Internet/Mail/Phone Bidders: 6
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