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Lot
1533

1864-S 25C MS64 PCGS....

2008 September Long Beach, CA US Coin Signature Auction #1116

 
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Auction Ended On: Sep 18, 2008
Item Activity: 8 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Lot Viewing:
Room 104A

Auction Room:
Room 103B

Description:
Very Rare 1864-S Quarter, MS64
One of the Finest Pieces Known
1864-S 25C MS64 PCGS. In a Coin World article from January 29, 2002, Paul Green analyzed the 1864-S quarter and came to the conclusion that its rarity is based on heavy circulation and lack of a collector base in the West, not merely that only 20,000 pieces were struck.

"San Francisco only made silver and gold coins, but there seemed to be a general feeling in the West that anything other than gold and silver was not really welcome. Apparently, if change of less than five cents was needed, people just compensated with a free donkey ride."

In all grades only 69 of these pieces have been certified by PCGS and NGC, minus an uncertain number of resubmissions. The breaking point of availability, such as it is, for the '64-S seems to be at the XF45 level. Above that only 18 pieces have been certified. The number of high grade 1864-S quarters is paltry indeed. A mere 10 pieces have been graded by both services. In MS64 only five others have been certified. The finest is a remarkable NGC MS68!
The surfaces on this piece are bright and sparkling with deeper accents of golden-brown toning in the fields. Overall the strike is strong, but is lacking on the peripheral obverse stars. With only 20,000 pieces struck, virtually no collector base, and a high attrition rate, when a high grade 1864-S such as this one can be located, it is well worth owning and certainly a coin that many advanced collections lack.
Ex: R.L. Miles Collection (Stack's, 4/1969); Auction '86 (Stack's Session, 7/1986), lot 142.
From The Nevada Collection of Seated Quarters.(Registry values: P7) (NGC ID# 23TZ, PCGS# 5460)

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