1901-S 25C

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Sold on Jul 28, 1994 for:

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Description

PCGS 1901-S MS 65. If this coin were only a problem-free VF it would be a significant offering. But, as anyone remotely familiar with U.S. numismatics knows, the 1901-S is the key issue in the Barber quarter series and in mint state it is very rarely offered, with high grade examples locked up in major collections. This is the first gem we can remember handling in several years.
According to the consignor, this coin was found recently along with a 1901-S dime, half dollar and dollar (also included in this sale) in the cornerstone of a schoolhouse in Reno, Nevada. Apparently the four coins were placed there when the school was built and were sealed in the cornerstone during groundbreaking ceremonies in 1901. The San Francisco mint was the nearest operating mint to Reno, and it would have been logical to include coins from this mint.
The 1901-S quarter has the lowest mintage of any business strike in the entire series of Barber quarters with only 72,664 pieces minted. We do not believe too many others are entombed in cornerstones today, and the known population of gem pieces is fairly well known to specialists. According to the most recent population data from the two major services, PCGS (5/94) has only certified 2 pieces in MS 65 with 3 in higher grades, while NGC (4/94) has graded only 1 in MS 65 with 3 finer. This piece has also been graded by NGC as MS 65 and the insert attesting to that fact will accompany the lot.
This coin was obviously selected with care for the cornerstone ceremony in 1901. It is completely brilliant. The surfaces are shimmering and highly frosted on the devices with bright prooflike fields on each side. There are a few tiny pecks on the face of Liberty that we mention for the sake of accuracy, but these are obviously not serious as both major grading services agreed the coin was a gem. To say this is a rare opportunity would be significantly understating the case with this coin. It is, in fact, a unique opportunity. After 93 years, this key date 1901-S quarter has once again been brought to the light of day. This piece was previously unknown and unsuspected to the numismatic world, and should generate much excitement among advanced specialists in this series.

Coin Index Numbers: (NGC ID# 23YR, PCGS# 5630, GSID# 5432)

Metal: 90% Silver, 10% Copper
Weight: 6.25 grams
ASW: 0.20oz
Mintage: 72,664

View Certification Details from PCGS