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Lot
6063

1867-S 25C MS67 NGC. The demand for silver coins in ...

2004 June Long Beach Signature Sale #349

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Auction Ended On: Jun 3, 2004
Item Activity: 8 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
The Ultimate 1867-S Quarter, MS67, The First Offering Of This Coin At Public Auction In 18 Years
1867-S 25C MS67 NGC. The demand for silver coins in California had begun with the influx of '49ers eighteen years before and continued unabated out west throughout the Civil War. However, only 48,000 quarters were struck in the San Francisco mint in 1867--nowhere near the quantity needed to meet the demands of commerce in the booming post-war western economy. Only 150-200 pieces are believed known today in all grades, and the 1867-S is the sixth rarest quarter in overall rarity from 1855 to the present date. In XF and better grades it is considered R.6, and R.7 in mint condition. Most were heavily circulated, and this issue can be considered underrated above VF. Only three other pieces have been certified by NGC and PCGS combined in Mint State, with this piece the finest known by three points. In fact, this coin is one of only ten rarest Seated quarters in Superb condition. This distinguished roster includes the 1841-O, 1842-O, 1855-O, 1864-S, 1865-S, 1866-S, 1873-CC No Arrows, and 1891-O. It is interesting to note that the Eliasberg and James A. Stack collections account for six of these pieces. To further extend the high grade analysis of this issue, the combined populations for this issue from both PCGS and NGC (3/04) make it rarer than any other Seated quarter except for the "non-collectible" 1873-CC No Arrows. The only issue that is close to it is the 1860-S. All the other rare Carson City dates have far more coins certified. In Gem condition, the 1867-S is on par with the 1870-CC, 1871-CC, 1872-CC, and the aforementioned 1873-CC No Arrows. Just one piece is known for each of these issues in Gem condition.
This is a fabulous coin. The original, untoned, satiny "skin" is intact and both sides are essentially untoned. The central devices are fully struck, but the peripheral stars are not completely brought up--a trait seen on all known 1867-S quarters. The surfaces are essentially perfect with the only mentionable flaw being a small planchet flake to the right of the 7 in the date. Also, a fine die crack is seen up and to the left of the 1 in the date.
Ex: James A. Stack Sale (Stack's, 3/75); I. Kleinman (1975-?); Corky Vena (?-1977); New England Rare Coin Fund I (1977-1980), where it brought $30,000; Marty Haber (1980-1986); Auction '86, purchased by Jay Miller for the present consignor. Accompanied by an NGC Photo Proof.
From the Collection of Brian Keefe. (#5471) (NGC ID# 23UE, PCGS# 5471)

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