1859 $2 1/2 PR64 Cameo NGC....

Description

1859 Quarter Eagle, PR64 Cameo
Ex: Byron Reed, Extremely Rare New Reverse
One of Two Available to Collectors

1859 $2 1/2 PR64 Cameo NGC. Ex: Byron Reed Collection. In 1859, a new hub was introduced with shorter arrowheads that are separated at the top -- known as the New Reverse (or Type Two reverse). The Old Reverse style hub was nonetheless carried over and occasionally used on quarter eagles dated 1859, 1860, and 1861. Among business strikes, and the Old Reverse quarter eagles are actively sought and far rarer than the New Reverse pieces.

The situation is quite different for the proof 1859 quarter eagles. The reported proof production of 80 pieces is irrelevant, as most were clearly melted afterward. The majority of the 10 or so known proof survivors are of the Old Reverse style. Our research accounts for just 10 or 11 distinct survivors, of which only the Byron Reed coin, the Amon Carter Collection coin, and the American Numismatic Society coin (unavailable to collectors) are of the New Reverse style.
This is the Byron Reed specimen, a near-Gem Cameo proof of remarkable beauty and overall quality. The strike is sharp and nearly full, save for slight softness on the first two or three obverse stars. The Y in LIBERTY is recut. The orange-gold devices are richly frosted, and the sea-green fields are watery and pleasingly reflective. Rare in this proof type, the coin is sure to elicit strong interest among gold proof specialists. Census (both reverse types): 1 in 64 Cameo, 3 finer (11/15).
Ex: Byron Reed Collection (Christie's/Spink America, 10/1996), lot 55.(Registry values: P6)

Coin Index Numbers: (NGC ID# 25M2, PCGS# 87885, Greysheet# 8457)

Weight: 4.18 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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