1873-CC 25C NO ARROWS
Famed 1873-CC No Arrows Quarter--Second Finest Known and Ex: Norweb1873-CC No Arrows MS 64 PCGS. The legendary 1873-CC No Arrows is unquestionably the rarest of all quarters struck for circulation. Only 4,000 pieces were struck on January 18. On February 12, the Silver Act was passed mandating a slight increase in the weight of planchets to conform to metric standards. Apparently, almost all of the mintage was melted on July 10, leaving one to wonder if the few survivors are all that remain from those set aside for the annual Assay Commission.
For many years, it was believed that only three examples were known of the No Arrows '73-CC. However, a couple of circulated pieces have surfaced in the past few years bringing the number extant today to 5. This piece is the second finest known, and is also the ex: Norweb coin. Apparently little was known about the rarity of this date from the first appearance of one in an Edward Cogan auction in May, 1878 until the time of the dispersal of Fred Boyd's collection (the so-called World's Greatest Collection) in 1945. That coin, which was purchased by Louis Eliasberg, was just said to be an extreme rarity. Below is a roster of the five known specimens:
1. U.S. Mint; A.L. Snowden; J.W. Haseltine; J.K. Nagy; William H. Woodin; H.O. Granberg; Max Mehl's 54th Sale (7/19), lot 358; F.C.C. Boyd; The World's Greatest Collection (Numismatic Galleries, 1945), lot 378, where it realized $725; Louis Eliasberg; Eliasberg Collection (Bowers and Merena, 4/97), lot 1503, where it realized $187,000; Bolen Collection (Heritage, 4/99), lot 5926, where it brought $92,500. Certified as MS 62 by PCGS.
2. John Swan Randall Collection (Ed Cogan, 5/1878), lot 795, where it brought 35 cents; Browning Collection; James A. Stack Collection (Stack's, 1975), lot 136, where it brought $80,000; William Grayson of B&B Coins; 1979 NASCA London Sale, bought back by the consignor; Metropolitan New York Sale (1980), lot 519, brought a reported $205,000; Bob Riethe and Greg Holloway. Currently in an NGC MS 66 holder.
3. John Haseltine; unknown intermediaries; H.M. Budd; Numismatic Gallery; Imperial Coin Company (Benjamin Stack, proprietor); Mrs. R. Henry Norweb from Imperial on July 24, 1954; Norweb II (Bowers and Merena, 3/88), lot 1647, where it realized $88,000; several dealer intermediaries; William Greene; Wes Rasmussen Collection (Superior, 2/98), lot 2038, where it brought $209,000; the present coin, from the Nevada Collection..
4. Abner Kreisberg, currently in a PCGS Very Fine holder.
5. Recently discovered circulated (unstated grade), shown by Leon Hendrickson to Larry Briggs, who confirmed its authenticity. Described in an article in the October 29, 1996 issue of Numismatic News.
The coin has thick mint frost that is overlaid on each side by scattered violet and lilac toning. Well struck in most areas, there are no distinguishing abrasions on either side of this impressive piece. The mintmark is small and widely spaced and the right C has the diagonal scratch within that is diagnostic of all genuine examples. An extreme rarity not only among quarters, but one of the scarcest and most desirable of all regular issue United States coins. (NGC ID# 23UW, PCGS# 5486)
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